Cryptocurrency Prices Today: India’s proposed bill on Cryptocurrencies led to a downfall in the virtual coin market as prices of Bitcoin, Ether, and other altcoins tanked.
The government announced that the cryptocurrency ban bill would place in parliament during the upcoming winter session. Immediately, after this announcement, a sharp fall in prices happened. This bill seeks to prohibit every private player in the space of cryptocurrency.
The world’s largest cryptocurrencies Bitcoin and Ether plunged nearly 15 and 12 percent respectively. All the remaining also faced similar losses.
While the cryptocurrency market has stabilized after the crash, volatility may increase as a large number of investors in India may exit the market. There are chances that many investors in India would sell their stakes following the law proposed by the government.
At 10.15 am, Bitcoin was trading at $56,592.62 which is 0.68 percent lower than its price 24 hours ago. Its market capitalization remained over $1 trillion and the 24-hour trading volume was $1.53 billion.
At 10.15 am, Ether was trading at $4,263. Its market capitalization stood at $500 billion and the 24-hour trade volume was $1.19 billion.
Most other cryptocurrencies were trading in the red as the virtual coin market has been eclipsed by the volatility wave, especially after the decision of the Indian government to ban private cryptocurrencies players.
Latest prices and trends of popular cryptocurrencies
Cryptocurrency | Price (US Dollar) | 24-hour change | Market cap | Volume (24 Hours) |
Bitcoin | 56,610 | -0.29% | $1.07 trillion | $1.53 billion |
Ether | 4,265.89 | 2.52% | $501.11 billion | $1.19 billion |
Dogecoin | 0.223487 | 0.29% | $29.52 billion | $1.77 billion |
Litecoin | 212.31 | 0.98% | $14.66 billion | $80.70 million |
XRP | 1.04 | -0.46% | $104.45 billion | $3.40 billion |
Cardano | 1.69 | -6.94% | $55.41 billion | $202.59 million |