The prices of top cryptocurrencies bounced back on November 12 after falling for the last two days even as the Indian government is likely to meet top cryptocurrency stakeholders in the country on November 15.
Prices of the world’s biggest cryptocurrency Bitcoin (BTC) was $65,013.58, while Ethereum (ETH), the second-biggest cryptocurrency, was at $4,775.07, at the time of filing the report at 9 am, according to data from the cryptocurrency exchange Coinmarketcap.com.
Bitcoin has witnessed a rise of 0.61 per cent in the last 24 hours, while ETH has grown by around 3.65 per cent over the same period.
Binance Coin (BNB) held the third position with a market price of $632.68. It witnessed 2.66 per cent rise in the last 24 hours. Tether (USDT) is stationed at the fourth position at $1.00, as on 9 am on November 12, with 0.02 per cent growth in the last 24 hours, according to Coinmarketcap.com. Solana (SOL) and Cardano (ADA) were at the fifth and sixth positions.
“The market remains bullish, and we expect them to maintain its upward trend. The Taproot upgrade to the Bitcoin blockchain's protocol is one of the largest upgrades after SegWit in 2017. It is likely to take place at the end of this week or the coming week and thus, investors are keeping long on Bitcoin,” says Gaurav Dahake, CEO & Founder Bitbns.
Meme Coins
Meme coin Shiba Inu (SHIB) witnessed a surge of 7.50 per cent in prices in the last 24 hours and witnessed a setback, while Dogecoin (DOGE) has recorded a 1.37 per cent rise in the last 24 hours.
Shiba Inu was trading at $0.00005383 and Dogecoin at $0.2643 at the time of filing the report (9 am), according to data from Coinmarketcap.com.
Top NFT Collections
With a volume of 341.72 SOL, Mechanic Wolf replaced PixTapes at the top of the NFT (non-fungible token) collections list, even though it didn’t grow in the last 24 hours, as on 9 am, as per Coinmarketcap.com.
PixTapes recorded a volume of 29.93 SOL and witnessed a fall of 26.41 per cent in the last 24 hours. Cryo Pass-SU registered a volume of 24.82 SOL and has fallen by 38.7 per cent in the last 24 hours. Moreover, Crypto Idolz witnessed 26.34 per cent fall with a volume of 12.5 SOL in the last 24 hours.
Latest Updates
According to a notice by the Lok Sabha Secretariat, the Parliamentary Standing Committee on Finance will host the conference on November 15. An official notice informing concerned parties about this meeting listed the meeting as a “Hearing of views of Associations/Industry experts on the subject ‘CryptoFinance: Opportunities and Challenges’.”
Many crypto-based companies including CoinSwitch Kuber, CoinDCX, WazirX, and Crypto Assets Council (BACC) among others are likely to be part of the meeting.
A report by US-based consumer financial services company Bankrate says that 49 per cent of millennials in America are comfortable with investing in cryptocurrency. The study interviewed 1,008 adults from May 25-30, 2021. Out of the 49 per cent, 15 per cent said they are ‘very comfortable’, while 34 per cent said they were ‘somewhat comfortable’ with investing in cryptocurrency.
