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The leading crypto by value, Bitcoin, traded around $40,555 after a 1.34% overnight low. BTC remained up 5.6% over the past seven days. Ethereum saw a slight 0.44% increase to $2,784. The 2nd-largest currency by market cap gained 9.4% within the previous week.
To cryptos traded with mixed actions on Friday, Avalanche gaining more than 5% while alts like Terra, Solana, Shiba Inu, and Polkadot losing around 3% each over the past day. Bitcoin changed hands around 440,556 following a 1.34% 24-hour drop. However, the largest cryptocurrency by market value remained 5.6% higher within the past seven days. Meanwhile, ETH’s 0.44% slight uptick saw it exploring $2,784 highs, staying 9.4% high over the past week.
Binance Coin added nearly 1.19%, XRP lost 0.23%, whereas Terra recorded a 2.99% plunge. Meanwhile, Avalanche led gainers in the large-cap market, adding 4.86% within 24 hours. Solana dropped 2.52%, ADA declined by 1.4%, and DOT tanked around 3.34%. Meanwhile, the original meme coin, Dogecoin, lost 1.58% to $0.1155.
Crypto price actions saw the global crypto market capitalization dropping towards $1.82 trillion, following a 0.35% decline within the past 24hrs. Meanwhile, total crypto trading saw a 22.36% fall to $77.15 billion (Coinmarketcap data).
Indian Market News
JB Mohapatra, Central Board of Taxes chairman, revealed that the proposed 30% taxation on earnings from crypto and other digital products would start operating on 1 April. He added that the 1% TDS (tax deducted at source) on such transactions would apply from 1 July.
Global Updates
On Thursday, European Union watchdogs said that market players risk losing their money with cryptocurrency investments and might fall into fraudsters. That comes as the crypto spectrum sees increased recognition globally.
Ukrainian President signed a bill that legalizes cryptocurrencies in the nation. Remember, Ukraine received millions in cryptocurrency donations amid the Russian invasion. That had the asset class a critical tool amid war. Also, Russians are turning into crypto as the ruble sees a massive crash due to western’s sanctions. Such developments had experts predicting massive bullish rallies for the crypto space in the coming future.
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