The month of April has seemingly begun on a positive note for crypto investors with majority cryptocurrencies maintaining profits. Bitcoin on Monday, April 4, opened with gains of 0.15 percent. Its current trading value is $47,543 (roughly Rs. 36 lakh) as per Indian exchange CoinSwitch Kuber. BTC saw very small, almost negligible losses on international exchanges. On Binance and CoinMarketCap for instance, Bitcoin fell by around 0.25 percent. Presently, Bitcoin’s international trading value stands close to $45,897 (roughly Rs. 35 lakh).
Ether kickstarted the week by opening with a gain of 1.07 percent. Its trading value, as per Gadgets 360’s crypto price tracker is $3,625 (roughly Rs.2.75 lakh).
Unlike Bitcoin, ETH has managed to also rope-in gains on global levels. As per Coinbase, for instance, ETH saw profits of 0.74 percent. Ether’s international trading value is around $3,498 (roughly Rs. 2.65 lakh) at the time of writing.
Binance Coin, Ripple, Cardano, Polkadot, and Cosmos saw small gains.
Memecoins Shiba Inu and Dogecoin, both, registered small profits.
There were also a few popular cryptocurrencies that did failed to see gains today.
Avalanche, Binance USD, Tether, and USD Coin saw losses.
Prices of Solana, Terra, Polygon, and Uniswap also dipped.
While the losses incurred by these altcoins are very small, they sure did bring reds back to the price charts.
The crypto sector, as a whole, is progressing towards regulatory frameworks in several parts of the world.
Analysts have predicted that as more nations regulate the crypto sector, the lesser its volatility will show up.
India’s tax laws on crypto came into effect on April 1.
Indonesia is gearing up to impose value added taxes and income tax on crypto assets starting May.
The European Union (EU), which is also in the process of formulating crypto laws, has voted in favour of asking crypto exchanges to verify owner identities of unhosted wallets with which they transact in advance of a transaction.
Discussions on cryptocurrencies have also opened in smaller nations like Kyrgyzstan where parliamentarians have argued in support of cryptocurrencies.
The total market cap of the crypto industry currently stands at $2.15 trillion (roughly Rs. 1,63,03,113 crore) as per CoinMarketCap. The same figure was $2.14 trillion (roughly Rs. 1,62,77,490 crore) on March 31.
Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.