Crypto markets continue rally; Bitcoin close to $47,000

Cryptocurrency markets have continued their rally in the last 24 hours. The global market cap rose by 3.82 per cent in the last 24 hours and is over $2.10 trillion as of 8:00 AM IST, CoinMarketCap data showed.

Bitcoin is up by 4.45 per cent and is trading at $46,864. Ethereum is up by 4.23 per cent and is trading at $3,295.

The USDT Tether stablecoin showed 0.01 per cent downtrend in its value in the last 24 hours. The USDC stablecoin is also down by 0.01 per cent. 

The BNB token has risen by 2.86 per cent.

XRP Ripple is up by 3.12 per cent. The ADA token is up by 2.24 per cent.

Solana is up by 3.15 per cent. Terra LUNA is up by 2.01 per cent in the last 24 hours. 

Avalanche is up by 3.86 per cent.

It is noteworthy to mention that the new taxation system proposed for virtual digital assets in India; which would include cryptocurrencies, non-fungible tokens, etc; became a law on Friday. The new law imposes a flat 30 per cent tax on profits on crypto and 1 per cent TDS on all crypto transactions.