Crypto Currency

Cryptocurrencies yet to recover from last week’s crash

Our Bureau | | | Updated on: Nov 29, 2021

Last week, the prices across tokens dropped around 15-20 per cent overnight

Bitcoin and other top crypto tokens, which are yet to completely recover from the crash last week, continue to see fluctuating price movements. Last week, the prices across tokens dropped around 15-20 per cent overnight amid panic sale by investors.

As of Monday 2:10 pm, Bitcoin was trading in green up by 3.36 per cent at ₹43.69 lakh, still down from last week’s peak of ₹47.58 lakh as seen on WazirX. Tether’s price dropped by 1.83 per cent, Sandbox gained 15.67 per cent, Shiba Inu was gained 1.63 per cent, Ethereum gained 5.02 per cent and Dogecoin was trading up by 1.72 per cent. All of them are far from last week’s peak rates.

On Monday afternoon, responding to a query in the ongoing Winter parliamentary session, Finance Minister Nirmala Sitharaman reiterated the Ministry’s stand on regulating Bitcoin, saying that the government has no proposal to recognise Bitcoin as a currency and it has not been collecting any data on any such transactions.

Published on November 29, 2021

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