The cryptocurrency market was trading in the green on
Saturday. Bitcoin trading above the $41,000 mark. The world’s
largest and most popular digital token was up over 10.80 per cent at
$41,411.23. Bitcoin’s market dominance rose marginally to 41.65 per cent
and the virtual token was trading at $41,388.68 on February 5. The world’s
biggest and best-known cryptocurrency, is up 23.2% from the year’s low of
$32,950.72.
Similarly, Ether, the coin linked to ethereum blockchain and the second largest cryptocurrency, rose marginally to $2,990.09, as per coinmarketcap.com. On the other hand, Binance Coin was also up more than a 7.68 per cent at $399.89. Dogecoin price gained to $0.13 whereas Shiba Inu was trading at $0.000021. The performance of other cryptos also improved as XRP, Stellar, Avalanche, Cardano, Solana, Polygon, Terra, prices were trading with gains over the last 24 hours.
The global cryptocurrency market
capitalisation rose to $1.87 trillion over the last 24 hours from $1.70
trillion, while the trading volumes climbed to $90.36 billion from $68.72
billion on February 5.
Cryptocurrency will never be a legal
tender, Indian Finance Secretary T V Somanathan had said on Thursday clearing
the air on the legality of private digital currencies in the market. The
2022-23 Budget has given a clarity on taxation of virtual digital assets and
proposed to impose a 30 per cent tax on gains made on such trades, besides
subjecting crypto transactions, beyond a threshold, to 1 per cent TDS.
Here
are the top 10 cryptocurrencies and their prices on February 5, 2022 (data from
coinmarketcap.com at the time of publishing this article)
Bitcoin $41,411.23 or 10.80 per
cent gain in the last 24 hours
Ethereum $2,990.09 or 11.19 per cent gain
in the last 24 hours
Cardano $1.14 or 7.99 per cent gain
in the last 24 hours
Tether $1.00 or 0.01 per cent loss
in the last 24 hours
Terra $56.95 or 12.68 per
cent loss in the last 24 hours
XRP $0.6678 or 9.65 per cent gain in the
last 24 hours
Solana $112.05 or 8.61 per cent gain
in the last 24 hours
Avalanche $69.31 or 1.24 per cent gain in
the last 24 hours
Binance $1.00 or 0.04 per cent gain in
the last 24 hours
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