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Crypto Price Today Live: Polygon, Shibu Inu, Bitcoin rally up to 11% in 24 hours

New Delhi: Top cryptocurrencies in terms of market capitalisation gained up to 11 per cent in the last 24 hours, led by Polygon, Shibu Inu, Bitcoin and Ethereum amid a rise in risk appetite.

Bitcoin, the largest cryptocurrency, jumped 7.83 per cent in the last 24 hours to $21,961.59 and is up 8.15 per cent in the last seven days.

Ethereum gained 6.71 per cent to $1,249.91, taking its weekly rise to 14.36 per cent. XRP advanced 7.17 per cent to $0.3528.

The biggest gainer in the top 20 cryptocurrencies was Polygon, which soared 11.65 per cent to $0.5826. Shibu Inu added 6.79 per cent to $0.00001133. Avalanche rose 6.81 per cent to $20.61. Polkadot and Litecoin rose 6 per cent each while Salona and Dogecoin were up 4 per cent each.

The global cryptocurrency market cap stood at $968.99 billion, rising 5.53 per cent in the last 24 hours. The total cryptocurrency trading volume also jumped 10.28 per cent to $63.46 billion.

A few top figures in the cryptocurrency space said they felt the ecosystem has likely already made it through the worst of the risk-off pressure that has rocked digital asset prices, Reuters reported.

Many of the crypto industry’s recent problems can be traced back to the spectacular collapse of the so-called stablecoin TerraUSD in May, which saw the stablecoin lose almost all its value, along with its paired token, the Reuters report suggested. That crash put substantial pressure on bitcoin and ether, two of the largest digital assets, said the Reuters report.

Bitcoin was down 58 per cent in the first six months of 2022, its worst first half of year showing ever.

Global news
– A former investment manager at Celsius Network sued the crypto lender on Thursday, saying it used customer deposits to rig the price of its own crypto token and failed to properly hedge risk, causing it to freeze customer assets.

– The US Federal Deposit Insurance Corporation is looking into Voyager

‘s marketing of deposit accounts for cryptocurrency purchases, an FDIC official said, confirming a report in the Wall Street Journal.


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Crypto Price Today Live: Dogecoin, Shiba Inu, Polkadot drop 4% each; Unus Sed Leo rises

New Delhi: After a small rebound, the crypto market was back in the red during the early trading hours on Wednesday. Bitcoin again breached the $20,000 threshold, denting the sentiments for other crypto assets.

The flow of bad crypto news was slower than it has been most days over the past six weeks. However, the gloom and fear in the crypto industry still persist.

Barring the Unus Sed Leo, which was up by 3 per cent down, all other crypto tokens were lower on Wednesday. Shiba Inu, Dogecoin and Polkadot plunged 4 per cent each, whereas Cardano shed 3 per cent.



The global cryptocurrency market cap was trading lower at the $894.51 billion mark, dropping almost 2 per cent in the last 24 hours. However, the total cryptocurrency trading volume jumped almost 17 per cent to $64.82 billion.

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Crypto Price Today: Shiba Inu, Dogecoin, Solana drop up to 5%; Tron gains

New Delhi: Crypto market continued to slide on Wednesday as recession fears deepened. Further, rising inflation is hinting that the hawkish US Fed is unlikely to cool its stance anytime soon.

For Bitcoin, $20,000 is the key psychological level. If it is breached substantially, the bear grip in the crypto market is likely to tighten and crypto winter may deepen further.

Barring the dollar-pegged USD Coin and Tron, all other crypto tokens were trading in the red on Wednesday. Shiba Inu and Solana plunged about 5 per cent each, whereas Dogecoin dropped over 3 per cent.



The global cryptocurrency market cap was trading at the $911.52 billion mark, down more than 2 per cent in the last 24 hours. However, the total cryptocurrency trading volume was up by over a per cent at $57.31 billion.

What’s cooking in India
The income tax department on Tuesday said both buyers and sellers will have to withhold taxes for transactions involving an exchange of one virtual asset for another.

Issuing a further set of clarification, the Central Board of Direct Taxes (CBDT) also said according to section 194S of the I-T Act, the buyer will have to deduct tax in a peer-to-peer transaction of virtual digital assets (VDA).

Expert take
The looming fear of Three Arrow Capital defaulting on its loan has come true. Voyager Digital, a digital asset brokerage, reported that the fund has failed to repay a loan of $350 million in USDC, U.S. dollar-pegged stable coin, and 15,250 bitcoins, said WaxirX Trade Desk.

“The effects of default will be much more concerning if there is a decrease in liquidity on Voyager. Voyager has already taken action to fight this concern,” it added.

Global Updates

  • CEO Whit Gibbs and Chief Financial Officer Jodie Fisher have resigned, effective immediately, from bitcoin mining hosting and brokerage services firm Compass Mining, the company said in an emailed statement.

  • Canada-based investment firm Cypherpunk Holdings has dumped all of its bitcoin and ether holdings to ride out the current market risks.

  • CoinFLEX CEO Mark Lamb claims noted crypto investor Roger Ver owes the physical futures crypto exchange $47 million in USDC. Lamb made his allegation public Tuesday on Twitter, shortly after Ver denied “some rumors” he was involved with the default.

Tech view by BuyUcoin cryptocurrency exchange
SHIB price dipped even after 400 trillion tokens were burned. SHIB growth has been fueled mainly by speculation and supportive tweets by Elon Musk. Cypto.com has also removed SHIB from its earn program which may have hurt the investor sentiment around the meme coin and resulted in a 5 per cent drop in its prices during the day trade.

The growth momentum of SHIB will continue if it finds a real-world use case or is integrated into the global payment system. As of now, SHIB will witness price fluctuations mainly driven by speculations.

(Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the asset/s mentioned.)


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Crypto Price Today: Shiba Inu, Dogecoin, Solana drop up to 5%; Tron gains

New Delhi: Crypto market continued to slide on Wednesday as recession fears deepened. Further, rising inflation is hinting that the hawkish US Fed is unlikely to cool its stance anytime soon.

For Bitcoin, $20,000 is the key psychological level. If it is breached substantially, the bear grip in the crypto market is likely to tighten and crypto winter may deepen further.

Barring the dollar-pegged USD Coin and Tron, all of the other crypto tokens were trading in the red on Wednesday. Shiba Inu and Solana plunged about 5 per cent each, whereas Dogecoin dropped over 3 per cent.



The global cryptocurrency market cap was trading at the $913.70 billion mark, dropping more than a per cent in the last 24 hours. However, the total cryptocurrency trading volume was flat, up by a per cent at $56.35 billion.

What’s cooking in India
The income tax department on Tuesday said both buyers and sellers will have to withhold taxes for transactions involving an exchange of one virtual asset for another.

Issuing a further set of clarification, the Central Board of Direct Taxes (CBDT) also said according to section 194S of the I-T Act, the buyer will have to deduct tax in a peer-to-peer transaction of virtual digital assets (VDA).

Expert take
The looming fear of Three Arrow Capital defaulting on its loan has come true. Voyager Digital, a digital asset brokerage, reported that the fund has failed to repay a loan of $350 million in USDC, U.S. dollar-pegged stable coin, and 15,250 bitcoins, said WaxirX Trade Desk.

“The effects of default will be much more concerning if there is a decrease in liquidity on Voyager. Voyager has already taken action to fight this concern,” it added.


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Crypto Price Today: Bitcoin, Solana flat; Shiba Inu climbs 3%

New Delhi: Most cryptocurrencies, except for Shiba Inu, were trading in a tight range on Thursday amid concerns globally over high inflation and the likelihood of the US economy plunging into recession.

Bitcoin has fallen 0.39 per cent in the last 24 hours but was holding above the $20,000 level at $20,412.21, taking its one week slide to 8.8 per cent.

Ethereum, the second-largest cryptocurrency, declined 1.78 per cent to $1,086. Ethereum has tanked 11 per cent in the last seven trading sessions.



BNB advanced 0.81 per cent to $218.75. Cardano added 0.62 per cent to $0.4711. Solana edged 0.02 per cent to $35.29. Dogecoin fell 0.81 per cent to Rs 0.06. Shiba Inu climbed 3.11 per cent to $5.98.

The global cryptocurrency market cap stayed largely flat at the $901.57 billion mark, falling just 0.01 per cent in the last 24 hours. However, the total cryptocurrency trading volume dropped about 6.23 per cent to $57.66 billion.

What’s cooking in India?
The income tax department on Wednesday said the 1 per cent TDS on transfer of virtual digital assets would be levied on net transaction value and the onus of deducting the tax would primarily be on the exchanges.

The Central Board of Direct Taxes (CBDT) issued an FAQ on the TDS provisions on virtual digital assets (VDA) or cryptocurrencies, which was introduced in the 2022-23 Budget and will be effective from July 1, PTI reported.

Global news
Digital assets platform FalconX was valued at $8 billion in a new funding round led by Singapore’s sovereign wealth fund

and B Capital, more than doubling its valuation in 10 months, its chief executive and founder Raghu Yarlagadda told Reuters, despite the recent slump in crypto markets.

This funding round totaled $150 million from new and existing investors, bringing fresh capital to the company, even with an unfavorable market environment for cryptocurrencies. Not all the money will go the company’s coffers as some investors also sold an undisclosed stake in FalconX.

In a funding round concluded in August, FalconX had been valued at $3.75 billion.


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