Cryptocurrency Prices today on December 4: Bitcoin declines 18.5%, Ether trades in red

Cryptocurrency Prices today on December 4: Bitcoin declines 18.5%, Ether trades in red
© Sounak Mukherjee Cryptocurrency Prices today on December 4: Bitcoin declines 18.5%, Ether trades in red

The global crypto market capitalisation declined 17.53 percent over the last 24 hours to stand at $2.18 trillion. The total crypto market volume over the last 24 hours is $206.73 billion, a 77.41 percent increase.

The total volume in DeFi is currently $26.15 billion, 12.65 percent of the total crypto market 24-hour volume. The volume of all stable coins is now $167.22 billion, which is 80.89 percent of the total crypto market 24-hour volume.

Bitcoin’s dominance is currently 40.57 percent, a decrease of 0.24 percent over the day.

In the Indian market, Bitcoin is trading at Rs 34,87,515, down 18.5 percent. Other major cryptocurrencies like Ethereum (Rs 28,19,714) fell by 15.8 percent and Binance Coin (Rs 39,698) by around 15.8 percent.

On the other hand, Gifto (Rs 6.62) rose over 54 percent over the last 24-hours. Tether is up over 0.2 percent (Rs 75.36) while Dai by 0.15 percent (Rs 74.24).

Reliance Industries Chairman and Managing Director Mukesh Ambani said  on December 3 that he was a big believer in the blockchain technology.

“I believe in blockchain technology and this is different from cryptocurrency,” Ambani said, adding, “Blockchain is very important for a trust-based, equitable society.”

A bill for regulating cryptocurrency is in the works, and RBI Governor Shaktikanta Das is among those who feel that the blockchain technology underpinning cryptocurrencies could exist on its own, even without the currency.

“Using blockchain, we can deliver unprecedented security, trust, automation and efficiency to almost any type of transaction,” Ambani said.

Rajya Sabha member and senior BJP leader Sushil Kumar Modi, on December 3, demanded that the government should regulate the online gaming industry and impose a uniform tax on it.

“Online gaming is becoming a big addiction. I would like to highlight that this sector, like the crypto industry, certainly has a regulatory lacunae. So, I would urge the government to bring a uniform tax on online gaming. I urge the government to make a comprehensive framework of regulation for online gaming,” he said.

As of 5:30 pm on December 4, these were the prices of various cryptocurrencies (Data from www.coinbase.com)

Cryptocurrency

Price (In INR)

24-hour change (in percent)

Bitcoin

34,87,515

-18.52

Ethereum

28,19,714

-15.89

Binance Coin

39,698

-15.89

Tether

75.36

+0.22

Solana

14,040.74

-21.62

Avalanche

6,479.04

-21.18

Litecoin

11,148.53

-28.23

XRP

57.24

-22.24

SHIB

0.002528

-.19.77

[With PTI inputs]Disclosure: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

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