Bitcoin, Etherum And Other Tokens Spurt Up To 15% After RBI's Latest Move On Cryptocurrencies

After air around cryptocurrency has been cleared by the RBI on Monday that has asked the various financial entities to carry out due diligence exercise for customers dealing in cryptocurrency in India, you may be interested to know how these digital currencies are performing.

As per the cryptocurrency news outlet Coindesk, the largest cryptocurrencies by market capitalization, Bitcoin and Ethereum among others logged the best daily gains and are seen rebounding from lows hit during the last month.

Last, bitcoin quoted with gains of over 7 percent at $36,942 and Ethereum was up over 15 percent at $2660. On May 31, bitcoin quoted near $34200.

Gains in the cryptocurrency are largely owed to RBI's latest stance on the digital currency wherein it stated that commercial banks in India that come under its purview cannot cite the RBI's ban of 2018 and warn customers of dealing in cryptocurrencies.

Also, other top cryptos by market cap are seeing a traction including, XRP, Dogecoin and Uniswap which have moved higher by up to 16 percent.

"We've seen our institutional clients express nothing but increased interest in strengthening their long-term positions during this time," said Gunnar Jaev, COO at First Digital Trust, a digital-asset trust and custodian. "The movement is bullish."

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