Crypto Currency Updates – April 29, 2022

Finance Minister Nirmala Sitharaman states that India intends to introduce digital currency by 2023.

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Insight Bureau: Cryptocurrencies traded in positive territory on April 29, 2022. The global crypto market cap rose 0.37% in a day, currently standing at $1.81 trillion. The total crypto market volume over the last 24 hours rose to $96.84 billion, which is a 14.73% increase.

The total volume in DeFi is presently $9.83 billion, 10.15% of the total 24-hour volume in crypto market. The dominance of the world’s biggest cryptocurrency, Bitcoin, is currently 41.69%, which is a 0.15% increase over the previous day.

As of 2:00 PM IST on April 29, 2022, the prices (in INR) and percentage increase (or fall) of some of the largest cryptocurrencies are:
Bitcoin – 32,15,876 , +0.33%
Ethereum – 2,37,892 , +1.18%
Tether – 81.67 , +0.21%
Cardano – 68.17 , -0.38%
Binance Coin – 33,088 , +3.98%
XRP – 52.34 , -1.19%
Polkadot – 1,377.87 , -0.14%
Dogecoin – 11.5400 , +1.46%

As per International reports, UAE-based luxury real estate developer, DAMAC Properties, will soon welcome payments in cryptocurrency thereby joining the chorus of firms who predict that the United Arab Emirates will soon become a global crypto hub.

In other news, Finance Minister Nirmala Sitharaman states that India intends to introduce digital currency by 2023. According to her statement, the government along with RBI are looking to its several commercial use which is largely achieved through the JAM trinity (Jan Dhan-Aadhaar-Mobile).

Sitharaman further states, “Central bank’s digital currency, digital banks, and digital university have been announced in the Union Budget. There is a continuous digital push from the government across all sectors.” In the budget, she adds, the introduction of digital currency will greatly boost the digital economy.

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