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The cryptocurrency market has been able to maintain its gains during the last 24 hours due to the increase in volume. On Tuesday, bitcoin is trading above 24000 US dollars. The boom seen in bitcoin is proving that people are still investing in crypto despite the risks.
Let us tell you that the crypto market has seen a boom in the crypto market for the last four days. This rally seen in the market is proof that crypto investors are assuming that the speculations of the ongoing slowdown in the market will soon be put to an end and inflation will be under control.
On Friday, Ethereum is seeing a four percent gain while bitcoin is seeing a two percent increase. The Polkadot cryptocurrency saw an increase of five percent. BNB, Avalanche and Shibu Inu Crypto saw slight declines.
The overall market cap of the cryptocurrency market has increased by 2% to USD 1.13 trillion during the past 24 hours. During this period, the total trading volume in the market also increased by 80 percent to reach close to $ 76.14 billion.
What’s going on in India’s crypto market?
Global crypto exchange Binance said that it has terminated the off-chain fund transfer service with India’s private crypto exchange WazirX. This action by Binance The Indian investigative agency Enforcement Directorate had raised questions about such transactions during its proceedings in a money laundering case against WazirX.
Let us tell you that the ED has said that it has recently taken action against a director of WazirX’s company Zanmai Labs and frozen his bank accounts in which Rs 64.67 crore is deposited.