The global crypto market has witnessed a revival of profits in recent hours. The performance of Bitcoin, Binance Coin and others shows that it has made significant progress. Capital inflows have also increased with the revival of the market movement. Naturally, the dominance of bears reflects the fear of investors. Traders have preferred to invest in the rising market and are likely to continue to do so if the uptrend continues.
The Deputy Governor of RBI has promoted CBDCs and said that data related to cryptocurrencies is not reliable. The ongoing debate over the use of digital currencies or Central Bank Digital Currencies (CBDCs) has prompted an RBI representative to enter the discussion with a few words of caution. Mr. Patra said in a statement that any data available on CBDCs is misleading. These comments were made during an online event organized by the Reserve Bank of India.
Mr. Patra added that unreliable data can lead to a lack of proper regulations and guidelines where it is used. He gave several reasons why the available data on digital currencies is unreliable. He added: Lack of proper regulations due to lack of reliable information is the reason for fraud in the mentioned market. The perpetrators cannot be prosecuted due to lack of proper regulations.
Here is a short overview of the current state of the market, analyzing the performance of Bitcoin, Binance Coin and others.
BTC resumes uptrend
A German citizen was jailed for trying to hire an assassin using Bitcoin. A Berlin district court has sentenced a man to prison for repeatedly trying to hire a hit man with bitcoins on the deep web. The use of cryptocurrency for illegal activities has increased over time.
Bitcoin’s performance has shown promise as the market continues to rise. The latest data shows that it has increased by 0.06% in the last 24 hours. The weekly performance of Bitcoin shows that it has increased by 1.20%.
BTC price value is currently in the range of $17,169.20. Bitcoin market cap is estimated at $330,175,688,144. Bitcoin’s 24-hour trading volume is about $12,647,988,478.
BNB in profit
Binance has locked out withdrawals from some accounts amid what the CEO called “market-only behavior.” Binance’s unusual price movements prompted an internal investigation that led to a statement by its CEO.
With the resumption of capital inflow, the performance of Binance Coin has also improved. The latest data shows a one-day increase of 0.99%. The weekly performance of this coin shows that it has lost 0.02%.
The price value of BNB is currently in the range of $290.15. The market value of this coin is estimated at $46,414,495,872. The 24-hour trading volume of this coin is about $436,978,337.
DOGE turns green
Dogecoin’s performance suggests that it has also turned green. The latest data shows that it has increased by 0.11% in the last 24 hours. The weekly performance of this coin shows that it has lost 6.02%. The price value of DOGE is currently in the range of $0.09686.
The market cap of Dogecoin is estimated at $12,851,124,742. The 24-hour trading volume of this coin is about $206,478,287. The same amount in its native currency is about 2,131,769,143 DOGE.
ADA is still bearish
As Cardano continues its upward trend, it has not yet resumed its growth. The latest data shows that it has decreased by 0.16% compared to the previous day. The seven-day data shows a decrease of 2.51%. ADA price value is currently in the range of $0.3123.
Cardano’s market cap is estimated at $10,764,993,201. The 24-hour trading volume of this coin is about $8,868,3653. The circulating supply of this coin is about 34,471,844,534 ADA.
The global crypto market has had a positive trend in recent hours. The performance of Bitcoin, Binance Coin and others shows that they are back in the profits. Investors have flocked to the market as the market rallied again. This increase in value has also strengthened the global market. The latest data shows that it is estimated at 856.61 billion dollars.
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