On Tuesday, most cryptocurrencies extended their losses. The global crypto market cap was $1.04 trillion, with $56.7 billion in volume in the previous 24 hours.

Bitcoin
Bitcoin, the world’s largest and most popular virtual currency, dropped 3.5 percent to $22,846.2. Its market capitalization was $440.2 billion. The total value of trade was nearly $27.02 billion.

“Bitcoin was seen being traded at $22,800. BTC is down three percent after reaching a high of $24,000 on Sunday.

Ethererum
The second largest virtual currency, fell 3.9 percent to $1,574.2 at the last count, with a market capitalisation of nearly $192 billion. In the last 24 hours, the trade volume of Ethereum was nearly $9.1 billion.

Dogecoin
Dogecoin, a meme-based virtual currency, increased 0.7 percent to $0.1. Its market capitalization was $11.9 billion. The total value of trade was nearly $837.4 billion.

Solana
Solana fell 6% to $24.2, with a $8.9 billion market capitalisation. Solana’s trade volume in the last 24 hours was $1 billion.

Shiba Inu
With a market capitalisation of nearly $6.4 billion, Shiba Inu fell 2.2 percent. In the last 24 hours, the trade volume was nearly $306.8 million.

Polygon
Polygon market capitalisation fell 5.6 percent to $9.5 billion. In the last 24 hours, the trade volume was $588.7 million.

The cryptocurrency industry has high hopes for the upcoming Union Budget of 2023. The industry is hoping that FM Nirmala Sitraman will implement a number of changes, particularly in the classification and taxation of Virtual Digital Assets (VDAs). The two most important requirements are:-

1. The 1% tax deducted at source (TDS) on Crypto asset sales transactions should be eliminated. This tax causes investors to lose money with each trade and discourages new investors from entering the market, resulting in a loss of capital investment in crypto assets.

2. The current tax structure should be changed to allow for the set-off and carry-forward of losses in VDAs in the same way that equity shares and derivatives do. The 30% threshold was established in response to comparisons of digital assets with highly speculative avenues such as gambling and betting. However, because VDAs are similar to securities trading, they should be treated similarly in terms of taxation and setoff benefits.

According to The Esya Centre, a Delhi-based think tank, the 30% tax and 1% TDS resulted in a total trade volume of Rs 32,000 crore shifting from Indian crypto exchanges to foreign ones between February and October 2022. According to the study, the current tax structure will result in a loss of approximately Rs 99.3 trillion in local exchange trade volume over the next four years.

Furthermore, the use of international exchanges raises concerns about data privacy because user data is stored abroad, with Indian users having less recourse. The government also loses potential tax revenue and violates current policy by attempting to improve the ease of doing business.

Optimising these taxes will level the playing field for Indian exchanges and be consistent with the government’s Atmanirbhar Bharat and Make in India policies.

For the first time, India is the G20 president, and she will lead this influential group for a year. The G20 is the only platform that brings together the world’s major developed and emerging economies. The world has taken note of India’s approach as it successfully navigated the global pandemic and the recent Ukraine crisis. PM Modi and FM Sitarman have both stated on numerous occasions that crypto regulation must be a global effort. Because what the G20 countries adopt will set the tone for the rest of the world to follow, India has a unique opportunity to set the agenda on global crypto regulation.

Bitcoin (BTC) and Ethereum (ETH), two of the most popular crypto coins, fell below $23,000 and $1,600 early Friday morning, respectively. Other popular altcoins, such as Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC), also fell into the reds. With a 24-hour gain of more than 15%, the Fantom (FTM) token emerged as the biggest gainer of the bunch. Mina (MINA), on the other hand, became the top loser with a 24-hour drop of more than 12%.

At the time of writing, the global crypto market cap was $1.04 trillion, a 1.35 percent drop in a 24-hour period.

Bitcoin price today
According to CoinMarketCap, the price of bitcoin was $22,795.57 after a 1.47 percent drop in the previous 24 hours. BTC was trading at Rs 19.50 lakhs on the Indian exchange WazirX.

Ethereum price today
At the time of writing, the price of ETH was $1,566.88, representing a 2.96 percent 24-hour loss. According to WazirX, the current price of Ethereum in India is Rs 1.33 lakhs.

Dogecoin price today
DOGE fell 1.88 percent in a 24-hour period, according to CoinMarketCap data, and is now trading at $0.08477. According to WazirX, the Dogecoin price in India is Rs 7.26.

Litecoin price today
Litecoin lost 2.60 percent in a 24-hour period. It was trading at $86.89 at the time of writing. In India, the price of LTC was Rs 7,453.

Ripple price today
The price of XRP was $0.4054 after a 1.40 percent drop in the previous 24 hours. According to WazirX, the current price of Ripple is Rs 34.33.

Solana price today
Solana was trading at $23.71, down 4.15 percent in 24 hours. According to WazirX, the SOL price in India was Rs 2,075.04.

On Wednesday, cryptocurrencies extended their losses. The global crypto market cap was $1.01 trillion, with $57.1 billion in volume in the previous 24 hours.

Bitcoin
Bitcoin, the world’s largest and most popular virtual currency, dropped 2.3 percent to $22,561.9. Its market capitalization was $434.5 billion. The total value of trade was $27.5 billion.

Ethererum
The second largest virtual currency, fell 6% to $1,540.3, with a market capitalisation of $188.5 billion. In the last 24 hours, the trade volume of Ethereum was $9.1 billion.

Dogecoin
Dogecoin, a meme-based virtual currency, fell 6.6 percent to $0.1. Its market capitalization was $11.1 billion. The total trade volume was $581.8 million.

Solana
With a market capitalisation of $4.4 billion, Solana fell 0.5 percent to $12.1. Solana’s trade volume in the last 24 hours was $162 million.

Shiba Inu
Shiba Inu market capitalisation fell 7.5 percent to $6.1 billion. In the last 24 hours, the trade volume was $296.4 million.

Polygon
Polygon fell 5.2 percent to $0.9, with a $8.3 billion market capitalisation. In the last 24 hours, the trade volume was $535.9 million.

The global crypto market cap increased 0.44 percent to $1.05 trillion in the previous day, as major cryptocurrencies traded in the green early on January 24. The total crypto market volume over the last 24 hours has increased by 6.92 percent to $55.74 billion.

The total volume in DeFi is currently $4.73 billion, accounting for 8.49 percent of the total 24-hour volume in the crypto market. The total volume of all stable coins is now $48.84 billion, accounting for 87.63 percent of the total 24-hour volume of the crypto market.

According to Coinmarketcap, the price of Bitcoin, the world’s largest cryptocurrency, was hovering around Rs 19.20 lakh, with its dominance at 42.15 percent, an increase of 0.20 percent over the day.

In other news, the Federal Bureau of Investigation said on Monday that two North Korean hacker groups, the Lazarus Group and APT38, were responsible for the theft of $100 million from U.S. crypto firm Harmony’s Horizon bridge last June.

• Bitcoin Price 19,20,000 -0.72%
• Ethereum Price1,36,998.0 0.42%
• Tether Price 83.93 -0.47%
• Cardano Price 31.0210 -2.6%
• Binance Coin Price 25,785.05 -0.44%
• Ripple Price 35.4000 2.6%
• Polkadot Price 566.89 4.02%
• Dogecoin Price 7.5400 1.2%

Since November 2022, Ethereum (ETH), arguably the most popular crypto coin after Bitcoin (BTC), has managed to break through the $1,600 barrier. The global market cap, which had been on a downward trend, surpassed $1 trillion over the weekend. BTC has managed to stay within the $22,000 range. Other popular altcoins, such as Dogecoin (DOGE), Solana (SOL), and Ripple (XRP), experienced a mix of dips and gains. With a 24-hour gain of more than 44 percent, the Axie Infinity (AXS) token emerged as the biggest gainer of the bunch.

At the time of writing, the global crypto market cap was $1.04 trillion, representing a 0.69 percent 24-hour gain.

Bitcoin price today
According to CoinMarketCap, the price of bitcoin was $22,689.25 after a 0.28 percent drop in the previous 24 hours. BTC was trading at Rs 19.16 lakhs on the Indian exchange WazirX.

Ethereum price today
At the time of writing, the price of ETH was $1,632.57, representing a 0.66 percent 24-hour gain. According to WazirX, the current price of Ethereum in India is Rs 1.36 lakhs.

Dogecoin price today
According to CoinMarketCap data, DOGE gained 5.45 percent in a 24-hour period and is now trading at $0.08992. According to WazirX, the Dogecoin price in India is Rs 7.56.

Litecoin price today
Litecoin lost 0.42 percent in a 24-hour period. It was trading at $88.07 at the time of writing. In India, the price of LTC was Rs 7,356.07.

Ripple price today
The price of XRP was $0.4054, up 0.22 percent in 24 hours. According to WazirX, the current price of Ripple is Rs 34.16.

Solana price today
Solana was trading at $24.61, down 1.53 percent in 24 hours. According to WazirX, the SOL price in India was Rs 2,050.

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Cryptocurrency Prices Heatmap:

• Bitcoin $20,820 -2.28%
• Ethereum $1,528.21 -3.66%
• Tether $1 -0.02%
• USD Coin $1 -0.01%
• BNB $290.51 -4.29%
• XRP $0.3833 -1.17%
• Dogecoin 0.08104 -8.08%