Today again lethargy in the crypto market including Bitcoin, Ether

Today again lethargy in the crypto market including Bitcoin, Ether
Written by Arindam

The effect of the ongoing recession in the economies of the world is also being seen on the cryptocurrency market. There is constant volatility in the market. Meanwhile, on Thursday, other cryptocurrencies including bitcoin also saw a slowdown. The price of bitcoin fell 0.86% and was trading at $31,461 (approximately Rs 24 lakh) on the Indian exchange Coinswitch Kuber. However, it saw a slight correction in its price on global exchanges and was trading at $29,848 (approximately Rs.23 lakh) on exchanges like Binance and CoinMarketCap.

Ether has seen more downside than Bitcoin today. It came down 2.38%. Ether price in India was trading at $2,048 (approximately Rs 1.5 lakh) at the time of writing this news. The Gadgets 360 Cryptocurrency Price Tracker shows that popular altcoins such as Binance Coin, Cardano, Solana, Polkadot and Avalanche have registered a decline today. A mix trend was observed in the price of stable coins today. The stable coins that gained the most were Tether and USD Coin. But, this increase was very minor. Binance USD appeared in red today.

Talking about Mime cryptocurrencies, Dogecoin and Shiba Inu have seen a significant decline. Both the meme cryptocurrencies have lost 5-6 per cent. The CoinDCX crypto exchange told Gadgets 360 that the recent state of the world economy has a huge impact on the cryptocurrency market. Because of this, most cryptocurrencies are appearing in red instead of green.

Talking about other cryptocurrency related news, the popularity of bitcoin is forcing countries of the world to give it the same status as fiat money. The Central African Republic (CAR) is planning to launch a dedicated crypto hub. Its name will be Snago. Recently, in April itself, CAR announced the adoption of bitcoin as a legal tender. It was the first country in Africa to do so. CAR President Faustín Archange Tuadera officially announced Sango on Twitter. Also shared is a website address where you can contribute to the Sango project or register by going to its wait list.

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