Cryptocurrency Bitcoin Ethereum Price News Today In India El Salvador currency

    New Delhi: The price of popular cryptocurrencies such as Bitcoin and Ethereum has slipped amid a delay in the crypto trading. The Value of the world’s most popular cryptocurrency Bitcoin has dropped more than 17 per cent. Ethereum price has plunged 11.99 per cent, as per Reuters report. The development comes as El Salvador has become the first country to adopt Bitcoin as a legal tender. The country will accept payment in bitcoin alongside the US dollar, which has been El Salvador’s official currency since 2001.Also Read – MP’s Stone-Pelting Ritual During Gotmar Fair Leaves Over 400 Injured

    Cryptocurrency Price News Today

    • Major cryptocurrency exchanges like Coinbase Global Inc (COIN.O) and Kraken said there were delays in several transactions on their platforms. In a statement, Coinbase has disclosed that some transactions were delayed or canceled. Coinbase Global Inc said its apps may be experiencing errors, according to Reuters.
    • Meanwhile, another cryptocurrency exchange The Gemini has said that it had temporarily entered a full-maintenance period to look into an exchange-related issue that caused trouble in performance, Reuters reported.
    • According to Reuters, anything related to cryptocurrencies have faced tough times. Coinbase (COIN.O) shares have slid 4.02 per cent. Cryptocurrency miners Riot Blockchain (RIOT.O) saw a drop by 7.38 per cent and Marathon Digital Holdings (MARA.O) fell by 7.76 per cent. MicroStrategy Inc (MSTR.O) share price fell 7.64 per cent.

    Cryptocurrency in India

    • EI Salvador’s decision to make Bitcoin a legal tender will boost financial inclusion in their country as the majority of the population does not have access to formal banking channels, according to Shivam Thakral, CEO of BuyUcoin, IANS reported.
    • “In India, our approach towards crypto is different. We don’t see it as a legal tender but as an asset class. Indian investors have shown their faith in crypto even during the massive price fluctuations because they have an investment horizon of 2-3 years,” Thakral said in a statement recently. We are eagerly waiting for CBDC (central bank digital currency) in India which will open up new avenues of growth for the digital asset industry,” Thakral was quoted as saying by IANS.

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