Leading institutions such as SBI, HDFC Bank, Axis Bank and ICICI Bank have told various crypto exchanges that services related to crypto trades are unlikely to be resumed immediately.
NEW DELHI: The cryptocurrency market is experiencing tough times after last week’s free fall. The strong volatility even drove many investors to bankruptcy. Crypto investors lost a whopping $830 billion in the last one week. The total market-cap of all cryptocurrencies stood at $1.49 trillion as of Monday morning.
The cryptocurrency market has lost about 60% of the total market-cap in the past one week, with the top two digital tokens Bitcoin & Ethereum – giving up significant gains from their all-time highs.
The price of Bitcoin, world s largest cryptocurrency, has recovered to $37,000 from $30,000, its lowest price since January this year. Other coins followed suit, crashing as much as two-third in the past couple of weeks. Reuters reported that this past Friday, both Bitcoin and Ethereum saw their biggest single-day falls since March 2020, when the pandemic began.
Don’t panic-sell bitcoin in crash: Crypto startups
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While investing or trading in cryptocurrencies is a legal grey area, Indians owned about Rs 10,000 crore worth of such assets as of February.
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(This story originally appeared in on May 21, 2021)Mumbai: Indian crypto entrepreneurs are urging investors not to panic-sell assets like bitcoin and ether after prices crashed over 30% this week. According to cryptocurrency exchanges, investors should decide if they can sustain with locked funds for 3-4 years, and use only risk capital for what would be more of an allocation for long-term appreciation.
These digital exchanges facilitate trading for most of the 1 crore Indian investors in highly volatile cryptocurrency assets. Users of some of these platforms were unable to place their orders due to the high volume of trading on Wednesday. While investing or trading in cryptocurrencies is a legal grey area, Indians owned about Rs 10,000 crore wort
$STOPELON - Now a cryptocurrency to destroy Elon Musk
The currency, being created on the blockchain Binance Smart Chain, is currently trading at around 0.00005600 with a market capitalisation of nearly $30 million, according to chart site Poocoin
Aprajita Sharma May 20, 2021 | Updated 15:50 IST
Notably, cryptocurrencies across the board from bitcoin, ethereum to dogecoins tanked massively in last couple of days after Elon Musk tweeted that Tesla will not accept Bitcoin for transactions (Image: Twitter)
The crypto world has a new member. This new member hates Tesla founder Elon Musk. $STOPELON, a new cryptocurrency has emerged this week whose prices have shot through the roof in just a day - from $0.0000019 to $0.00009450, a jump of 4874 per cent in 24 hours.
Investors gain from price arbitrage as cryptos turn volatile indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.