One of the largest crypto exchanges in India, CoinswitchKuber, reported a growth of 3,500 per cent in its transaction volumes in 2021, indicating a growing interest in cryptocurrencies among Indians. Recently, WazirX in a report stated that the exchange has witnessed a record trading volume of over $43 billion in 2021, accounting for 1735 per cent growth from 2020.
Meanwhile, the price of Bitcoin (BTC) was down by 3.40 per cent in the last 24 hours and it was trading at $49,313.91 at 6 pm, while its dominance in the crypto market is currently at 40.05 per cent, down 0.03 per cent, according to data from coinmarketcap.com.
Ethereum (ETH) was trading at $3,921.12, with a fall of 3.39 per cent in the last 24 hours, while Binance Coin (BNB) was up 0.93 per cent over the same period and was trading at $554.61. Solana (SOL) fell by 4.97 per cent to $191.79 and Cardano (ADA) was down by 2.29 per cent to trade at $1.52.
Meme Coins
All major meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), Dogelon Mars (ELON) and Samoyedcoin (SAMO) witnessed a price fall in the last 24 hours.
Dogecoin was down by 4.74 per cent while trading at $0.1819 at 6 pm. Rival Shiba Inu was also down by 3.18 per cent and was trading at $0.00003705, Dogelon Mars fell by 5.36 per cent and was trading at $0.00000163, while Samoyedcoin was trading at $0.04176 and recorded a fall of 2.55 per cent.
Overall Scenario
The global crypto market cap was at $2.33 trillion, registering a decrease of 2.65 per cent in the last 24 hours, while the total crypto market volume was $101.44 billion, up by 37.93 per cent.
MultiFarmCapital (MFC) became the biggest gainer, recording a rise of 1619.56 per cent; it was trading at $0.0000009734 at 6 pm. On the other hand, SaitaMars (SARS) witnessed maximum loss, falling 75.79 per cent; it was trading at $0.0001324.
Latest Updates
Recent data shared by CoinswitchKuber, a crypto exchange, revealed that Bitcoin (BTC), Dogecoin (DOGE), Ethereum (ETH), Polygon (MATIC) and Cardano (ADA) were the most traded crypto assets in the year 2021 on their platform. Also, they registered a 3500 per cent rise in transaction volumes.
Crypto adoption saw an encouraging growth among Indian women as they comprised 15 per cent of CoinswitchKuber’s user base. Delhi, Kolkata, Pune, Mumbai, Lucknow and Patna became the early crypto adopters, according to the report. Moreover, nearly 60 per cent of their users were less than 28 years old.
Meanwhile, Italian luxury sports car manufacturer Ferrari is moving into the blockchain industry by inking a partnership with Swiss blockchain startup Velas Network, Cointelegraph.com reported.
The Commercial Bank of Dubai (CBD) is hosting a nonfungible token (NFT) art exhibition at its digital lab in Dubai International Financial Centre in collaboration with United Arab Emirates (UAE)-based NFT artist Amrita Sethi, Gulf News reported.
