Seven of the top cryptocurrencies were trading in green in the past 24 hours with Binance Coin showing the highest gain of 13.12% to $461.91. Similarly, Polkadot rose by 6.67% to $35.60. Solana also increased by 5.05% to $151.10. Ethereum, the second largest token increased by 0.26% to $3,507.04. The world’s biggest and oldest cryptocurrency Bitcoin fell by 1.30% to $56,286.71 levels. USD Coin and Tether USDT wer the other two laggards, that declined marginally by 0.04% and 0.06% respectively. In terms of ranking, Binance Coin moved two spots higher to third, while alt coin Cardano slipped one position lower to fourth. Tether USDT fell two positions lower to fifth.
According to a study conducted by the portal BrokerChoose’s annual crypto proliferation index, India has the largest no of crypto owners in the world at over 10 crore followed by the US and Russia.
The country has the fifth highest rate of crypto owners as a percentage of the population at 7.3%. Ukraine is the topper of this index at 12.73% of the population, followed by Russia at 11.91%, Kenya at 8.52% and the US at 8.31%.
The further evaluated internet searches in various countries to assess the interest in cryptocurrencies. India had the second highest number of total crypto searches at almost 36 lakh. While, the US saw the highest number of crypto seacrhes at 69 lakhs.
US based crypto marketplace Bakkt has entered into an agreement with Google, which would enable 10 million users of the crypto platform to link their virtual Visa debit cards with Google Pay and purchase goods and services online using cryptocurrencies like Bitcoin. Once Bakkt cards are linked with Google’s payment services, cryptocurrencies will get converted into the government-backed fiat currency seamlessly while making payments.
Bakkt launched its own Visa debit card, earlier this year to enable crypto-based transactions for its users. The crypto market place will be using the Google Cloud as its cloud services provider, to wire its services to crypto-associated retailers and merchants around the US.
(Follow Money9 for latest Personal finance stories and Market Updates)
The economy is recovering but GDP is expected to be only slightly larger than it was in pre-pandemic 2019-20.
The NIP will help augment India’s productive capacity, contribute to our overall growth and bring down the logistics costs, improving competitiveness
Diversification is key and should be followed for stable and steady returns in the long run.
There is a need to continuously facilitate trade and industry and provide thrust to the growth promising sectors of Indian economy.