Crypto markets continue to boom; global m-cap crosses $2 trillion

Cryptocurrency markets have continued their rally in the last 24 hours. The global market cap rose by 2.55 per cent in the last 24 hours and is over $2 trillion as of 8:00 AM IST, CoinMarketCap data showed.

Bitcoin is up by 2.47 per cent and is trading at $43,918. Ethereum is up by 3.30 per cent and is trading at $3,121.

The USDT Tether stablecoin showed 0.01 per cent uptrend in its value in the last 24 hours.  The USDC stablecoin is up by 0.01 per cent. 

The BNB token has also risen and is currently up by 1.04 per cent.

XRP Ripple is up by 1.20 per cent. The ADA token is up by 2.23 per cent.

Terra LUNA is the only top coin that slipped and is down by 1.92 per cent in the last 24 hours. 

Solana is up by a whopping 9.16 per cent. Avalanche is up by 1.96 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 would most likely become a law today. The law imposes a flat 30 per cent tax on profits on crypto and 1 per cent TDS on all crypto transactions.