The global crypto market continues to show volatility amid multiple developments related to virtual money and tweets from Tesla and Space X CEO Elon Musk.
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At 1:15 a.m. on Friday June 11th, Bitcoin was trading slightly positive at Rs 28.60.224, up 0.7%. The virtual currency hit a daily high of Rs 30.15.086 and was pulled to Rs 27.71.415. Bitcoin has a huge market cap of Rs 50.15,547, CoinSwitch Kuber data showed.
Number two cryptocurrency in the global rankings, Ethereum, lost 3.95% and was trading at Rs 1.88.189. IT reached its daily high of Rs 2.02.357.
In third place, tether was trading at Rs 77.3964, up 0.06 percent. The high of Tether (USDT) was Rs 79.8888 and the low of RS 76.3388.
Meme Coin Dogecoin also traded 2.8 percent to Rs 25.028069 after hitting the daily high of Rs 26.842799. This cryptocurrency is currently ranked 6th worldwide and, according to CoinSwitch, has a market capitalization of Rs 3.11.651 crore. Another meme coin, Shiba Inu, which is traded under the name “SHIB”, also traded in red. It was down 6.20% and was available at RS 0.000515.
In India, concerns over trading cryptocurrencies continue, with RBI maintaining its 2018 position despite the Supreme Court rejecting its order advising banks and NBFCs not to trade in crypto businesses.
In a major development related to Indian cryptocurrency exchanges, the Directorate of Enforcement (ED) of the cryptocurrency WazirX and its directors, Nischal Shetty and Sameer Hanuman Mhatre, have a transaction complaint under the Foreign Exchange Management Act (FEMA) of 1999 (FEMA) issued with cryptocurrencies valued at 2790.74 billion rupees, ED said in a statement.