This Monday morning, cryptocurrency markets are displaying a little upward trend. According to CoinMarketCap data, the global market cap increased by 0.72 % in the last 24 hours to $2.15 trillion as of 8:00 a.m. IST.
Bitcoin is currently priced at $45,940, up 0.70 %. Ethereum is now priced at $3,489, up 1.30 %.
In the last 24 hours, the USDT Tether stablecoin’s value has dropped by 0.01 %. The USDC stablecoin lost 0.03 % of its value.
The BNB token has lost 1.75 %.
The price of XRP Ripple has increased by 1.20 %. The ADA cryptocurrency is now trending upwards at 1.76 %.
In the last 24 hours, Terra LUNA has lost 0.36 %.
Solana increased by only 0.06 %. The stock of Avalanche has increased by 0.81 %.
It’s worth noting that the new Crypto Tax has influenced the trading volumes of Indian crypto exchanges. Following the implementation of the new tax legislation on April 1, the trading volumes of Indian cryptocurrency exchanges decreased significantly. In the most recent union budget, Finance Minister Nirmala Sitharaman announced a flat 30% tax on crypto earnings and a 1% TDS on crypto transactions. The TDS provision goes into effect on July 1st.