Cryptocurrency

Worldwide Crypto Market Crosses Rs 222 Lakh Crore For The First Time!

According to CoinGecko, the value of the cryptocurrency market has reached 3.007 trillion dollars (about Rs 2,22,79,296 crore).

The global cryptocurrency market has crossed $3 trillion (approximately Rs 2,22,26,385 crore) for the first time. This is because mainstream investors are increasingly jumping into it. According to CoinGecko, which monitors more than 10,000 cryptocurrencies, its value has reached $ 3.007 trillion (about Rs 2,22,79,296 crore).
SwissQuote analyst Ipek Ozkardeskaya said that the crypto market is developing at a very fast pace. He told AFP that a part of it may be conjecture but a part is also real. “Crypto is now taking over the space of traditional finance and everyone seems to be ready for it too.”

After taking another big step towards mainstream status last month, the world’s largest cryptocurrency Bitcoin reached a record high of $66,000 (approximately Rs 48.89 lakh) last month. At the time of writing this news on 10th November bitcoin price in india 54.34 lakh was running on Rs.

Ethereum, which is the second largest cryptocurrency by market cap, touched a record $4,768 (about Rs 3.53 lakh) on Monday. ethereum price in india 3.83 lakh on November 10. The bitcoin futures exchange-traded fund launched on the New York Stock Exchange in October. It is a financial instrument that has made it easier for people to access bitcoin after its launch. Now more and more people will be able to invest in it. Bitcoin is going to benefit a lot from this.

Hargreaves Lansdown Market Analyst Susannah Streeter said on Monday, “Bitcoin is on the rise again, nearing all-time highs.” “The recent surge in crypto… seems to have come in part because of investor accumulation, as they see it as a hedge against inflation.” Streeter said.

No more than 21 million bitcoins can be created, which allows its price to trade above its rivals. However, trading cryptocurrencies in general is highly volatile and large-scale price fluctuations are a common occurrence.

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