Cryptocurrency news: Solana up by 2.8%, Dogecoin declines by 2.3%
Top cryptocurrency prices today: Bitcoin, the world's oldest and largest cryptocurrency inclined by 0.91% to $62,505.18
Six of the top ten cryptocurrencies were trading in green in the last 24 hours, with Solana showing the highest gain of 2.80% to $206.77. Dogecoin slumped by 2.38% to $0.26. Bitcoin, the world’s oldest and largest cryptocurrency inclined by 0.91% to $62,505.18. Ethereum, the second-largest token, rose by 1.61% to $4,210.53. Binance Coin declined by 2.20% to $484.59. Cardano and XRP increased by 1.87% and 1.99% respectively. In terms of ranking, all the cryptocurrencies remained in the same position.
Cryptocurrency prices
Indian expats turn to crypto to remit money
Recently many Indian expats are increasingly experimenting with cryptocurrencies to remit money to their families back home and save on commissions charged by wire transfer companies and other middlemen.
According to industry trackers, the sudden surge in crypto investments even in smaller towns across India has also led to people exploring various issues.
They also said that Indians are warming up to crypto assets as well as decentralised finance, remittances through cryptocurrencies are only set to increase as transferring smaller amounts can be expensive through the traditional services.
Indian remittances are pegged at $80 billion which are transferred primarily through banking or other financials.
Sindh high court in Pakistan wants government to draw cryptocurrency regulation
The Sindh high court in Pakistan wanted the government to draw a cryptocurrency regulatory framework within the next three months.
It has also advised the government to seek suggestions from all stakeholders including IT ministers Securities and Exchange Commission of Pakistan (SECP) and the State Bank of Pakistan (SBP).
The decision to have a regulatory framework for cryptocurrencies comes on the back of booming crypto trading in Pakistan, which was ranked 3rd according to chainalysis global crypto adoption index.
Shiba Inu becomes 11th largest cryptocurrency by market value
Shiba Inu increased by 50% on Sunday, according to CoinGeko.com making it the 11th largest cryptocurrency in the world. A petition on Change.org imploring Robinhood to list SHIB on its platform has garnered almost 3,00,000 signatures.
The token has increased by more than 40 million percent in the past one year.
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