The global crypto market continues to show volatility amid several developments related to virtual money and tweets from Tesla and Space X CEO Elon Musk.
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Better cryptocurrency price movement
At 1:15 am on Friday June 11, Bitcoin was trading slightly positive at Rs 28.60,224, up 0.7%. Virtual currency hit a daily high of Rs 30,15,086 and trailed as high as Rs 27,71,415. Bitcoin has a massive market cap of Rs 50,15,547, CoinSwitch Kuber data showed.
The number two cryptocurrency in the global rankings, Ethereum, was down 3.95% and was trading at Rs 1,88,189. IT hit its daily high at 2,02,357 rupees.
At number 3, Tether was trading at Rs 77.3964, up 0.06%. Day I tether (USDT) high was Rs 79.8888 and the low was RS 76.3388.
Meme Coin Dogecoin was also trading down 2.8% at Rs 25.028069 after hitting the 1-day high of Rs 26.842799. This cryptocurrency is currently ranked 6th in the world and boasts a market capitalization of Rs.311,651 crore, according to CoinSwitch. Another coin, Shiba Inu, which is exchanged with a name “SHIB” was also exchanged in red. It was down 6.20% and was available at RS 0.000515.
Cryptocurrency Trading in India
In India, cryptocurrency trading apprehensions continue, with the RBI maintaining its 2018 position despite the Supreme Court ruling advising banks and NBFCs against trading in crypto.
ED Notice to WazirX
Meanwhile, in a big development related to the cryptocurrency exchange in India, the Enforcement Directorate (ED) issued a show cause notice to the WazirX cryptocurrency and its directors, Nischal Shetty and Sameer Hanuman Mhatre, under the Foreign Exchange Management Act 1999 (FEMA) for transactions. involving cryptocurrencies valued at Rs 2,790.74 crore, a statement from ED said.