Cryptocurrencies have been highly volatile in the year gone by and as of writing this copy while the weekend is said to be unusual for these digital assets. The largest cryptos at the time of writing this copy at around 1:30 pm quoted a little higher. The gains on the top crypto by m-cap as compiled by Coindesk have been up to 9 percent as for Cosmos.
The last year saw heavy influence from Elon Musk-Tesla's founder- that sent the prices of memecoins and bitcoin as well to soar to new highs. Nevertheless the factors that weighed on the crypto space include environmental concerns as well as its crackdown in China. Notably the largest crypto by market cap failed to hit the $100,000 mark as indicated or estimated previously. Last Bitcoin traded at a price of $47,126 per token. In India the price of Bitcoin is at around Rs. 35.26 lakhs.
Cryptocurrency -India landscape 2021
The cryptocurrency bill that was to be introduced in 2021 in the Winter session of the Parliament was not put forth. And there were calls that the government is seeking for measures that are being taken in respect of cryptos across the world. Further, crypto investment by Indians has already scaled a good level. The potential of the novel digital asset class is now being taken into consideration by the governments globally who see it to be a asset that shall sustain in the future. As per a news report almost 90% of the Indian retail investor class invested into the cryptos during the last year.