Bitcoin, Ethereum Trade In Red; Litecoin Up 2%

The global crypto market capitalisation on December 28 declined to $2.34 trillion from $2.39 trillion during the last 24 hours while the trading volume jumped to $86.55 billion from $75.03 billion on December 27.

The market cap of Stablecoins slipped by 0.06 percent in the last 24 hours to $ 162.25 billion. Stablecoins are a type of cryptocurrency which has its value tied to an outside asset – such as the US dollar or any other fiat currency or gold – to stabilise the price.

As for major cryptocurrencies, Bitcoin slipped 1.43 percent to trade at Rs 40,12,726 while Ethereum declined 0.78 percent at Rs 3,20,560. Cardano climbed 1.68 percent to Rs 116.8443.

Avalanche slipped 1.19 percent to Rs 9,182.968, while Litecoin dropped 2.03 percent to 12,378 and Tether traded flat at Rs 78.89 over the last 24 hours.

Binance, the world’s largest crypto exchange by volume, said on December 27 that it had received in-principle approval from the Central Bank of Bahrain (CBB) to establish itself as a crypto-asset service provider in the country. Binance had applied for a license from the CBB as part of its plans to become a fully-regulated centralised cryptocurrency exchange.

Read | Binance becomes first regulator in MENA region, to provide crypto-asset services in Bahrain

The move from CBB makes it the first regulator in the Middle East North Africa (MENA) region to grant an in-principle approval to a Binance entity, the crypto exchange said in an official statement.

As of 7:30 am, these were the prices of various cryptocurrencies in the Indian market (Data from WazirX)