Cryptocurrency Prices today on December 4: Market goes red while Gifto rises over 54%

#bitcoin, #cryptocurrency, blockchain technology., WazirX

The global crypto market capitalisation declined 6.36 percent over the last 24 hours to stand at $2.44 trillion. The total crypto market volume over the last 24 hours is $137.50 billion, a 19.25 percent increase.

Bitcoin saw a fall in its market dominance by about 0.07 percent over the last day to stand at 41.04 percent.

The total volume in DeFi is currently $17.37 billion, 12.63 percent of the total crypto market’s 24-hour volume. The volume of all stable coins is now $109.16 billion, 79.38 percent of the total crypto market’s 24-hour volume.

Bitcoin’s dominance is currently 41.09 percent, an increase of 0.04 percent over the day.

In the Indian market, Bitcoin is trading at Rs 43,34,512, down 2.91 percent. Other major cryptocurrencies like Ethereum (Rs 3,40,904) fell by 4.32 percent and Binance Coin (Rs 47,998) by around 0.94 percent.

On the other hand, Gifto (Rs 6.62) rose over 54 percent over the last 24-hours. Tether is up over 3 percent (Rs 81.4) while Dent by 7.57 percent (0.412).

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 7:45 am on December 4, these were the prices of various cryptocurrencies (Data from WazirX)

Cryptocurrency Price (In INR) 24-hour change (in percent)
Bitcoin 43,34,512 -2.91
Ethereum 3,40,904 -4.32
Binance Coin 47,998 -0.94
Tether 81.4 +3.37
Solana 16,840 -7.2
Avalanche 8,420 -1.57
Litecoin 15,147 -5.07
XRP 74.0084 -3.43
SHIB 0.003235 -.2.64

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

[With PTI inputs]

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