Economy

Cryptocurrency prices on December 4: The market is red, but Gifto is up over 54%

The global crypto market capitalisation has decreased 6.36 percent to $2.44 trillion in the last 24 hours. Over the last 24 hours, the total crypto market volume has surged by 19.25 percent to $137.50 billion.

Bitcoin’s market share has declined by 0.07 percent to 41.04 percent in the last day.

DeFi’s total volume is currently $17.37 billion, accounting for 12.63 percent of the crypto market’s 24-hour volume. The entire volume of all stable coins is now $109.16 billion, accounting for 79.38% of the crypto market’s total 24-hour volume.

Bitcoin now has a 41.09 percent market share, up 0.04 percent from yesterday.

In India, bitcoin is currently worth Rs 43,34,512, down 2.91 percent. Other notable cryptocurrencies like Ethereum (Rs 3,40,904) and Binance Coin (Rs 47,998) fell by 4.32 percent and 0.94 percent, respectively.

In comparison, Gifto (Rs 6.62) has grown by over 54% in the last 24 hours. Tether has gained 3% (Rs 81.4), while Dent has gained 7.57 percent (0.412).

On December 3, Reliance Industries Chairman and Managing Director Mukesh Ambani indicated that he believes in blockchain technology.

“I believe in blockchain technology, which is not to be confused with cryptocurrencies,” Ambani said, adding, “Blockchain is vital for a trust-based, equal society.”

A measure to regulate bitcoin is currently being developed, and RBI Governor Shaktikanta Das is one of many who believes that the blockchain technology that supports cryptocurrencies may be able to function independently of the currency.

“By embracing blockchain, we can give unprecedented security, trust, automation, and efficiency to practically any type of transaction,” Ambani continued.

On December 3, Sushil Kumar Modi, a member of the Rajya Sabha and a senior BJP lawmaker, requested that the government regulate the internet gambling industry and apply a standard tax on it.

“Online gaming is becoming a serious addiction.” This industry, like the crypto industry, has a number of regulatory gaps, which I’d want to bring out. As a result, I strongly advocate for the government to levy a uniform tax on internet gambling. “I urge the government to provide a comprehensive framework for the regulation of internet gaming,” he said.

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