Global crypto market continues to show volatility amid several developments related to the virtual money and tweets from Tesla and Space X CEO Elon Musk.
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At 1:15 on Friday, June 11, Bitcoin was trading marginally in positive at Rs 28,60,224, up 0.7 %. The virtual currency hit a day’s high of Rs 30,15,086 and was dragged till Rs 27,71,415. Bitcoin has humongous market cap of Rs 50,15,547, showed CoinSwitch Kuber data.
Number two cryptocurrency in global rankings, Ethereum, was down 3.95% and was trading at Rs 1,88,189. IT made its daily high of Rs 2,02,357.
At number 3, Tether was trading at Rs 77.3964, up 0.06 per cent. Tether (USDT) I-day highest was Rs 79.8888 and low was RS 76.3388.
Meme Coin Dogecoin was also trading 2.8 per cent down at Rs 25.028069 after hitting 1-day highest of Rs 26.842799. This cryptocurrency is currently ranked at 6th position globally and boast of a market cap of size Rs 3,11,651 crore, according to CoinSwitch. Another meme coin, Shiba Inu, which is traded with a name ‘SHIB’ was also trading in red. It was down 6.20 % and was available at RS 0.000515.
In India, apprehensions related to trading in cryptocurrencies continues with the RBI maintaining its 2018 position despite the Supreme Court structing down its order that advised banking and NBFCs against dealing in crypto business.
Meanwhile in a big development related to India cryptocurrency exchange, the Directorate of Enforcement (ED) issued a show cause notice to cryptocurrency WazirX and its directors, Nischal Shetty and Sameer Hanuman Mhatre, under Foreign Exchange Management Act, 1999, (FEMA) for transactions involving cryptocurrencies worth Rs 2790.74 crore, said a statement from ED.