Crypto and High: Bourses, traders come up Trumps
crypto frenzy in the global markets are lapping Indian shores.
Average daily trading volumes in half a dozen major exchanges have surged 3 times in less than a week despite crippling taxes and a shadow ban by most banks. Investors who were sitting on losses for close to 18 months are suddenly in the money. Prices of some of the zombie coins, along with other cryptocurrencies, are tailing Bitcoin which touched a new high. And, more local investors are booking profits than chipping in fresh money — as is borne out by the squeeze in the premium in USDT, the stable coin that serves as a go-between when cryptocurrencies are sold to generate rupees.
With Donald Trump vowing to make America the «crypto capital of the planet» — fuelling hopes that at some point the US Fed could even hold a slice of its reserves in cryptocurrencies — Bitcoin, the most prized crypto, was trading close to $90,000 on Tuesday.
The world market-cap of Bitcoin at $1.7 trillion is estimated to have crossed the global value of silver holdings.
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
View Details»VOLUMES STILL BELOW '21 PEAK
