The price of Ether has also fallen by about four percent. It was around $2,911 on international exchanges and $2,879 on Indian exchanges. Apart from this, there was a decline in Solana, Ripple, Cardano, Polkadot, Chainlink and Polygon. Cryptocurrencies These included Tether, USD Coin and Tron. The market capitalization of crypto was down 4.63 percent to around $2.02 trillion in the past one day.
The market desk of crypto app CoinSwitch told Gadgets360, “The main reason for this decline is the pressure created by the sale of bitcoins confiscated by the US and German governments. Bitcoin has fallen below the 200-day moving average last week. Analysts are warning of continued decline but this is also an opportunity to buy.” Solana may rise as VanEck has applied for Solana’s ETF in the US.
Late last month, Bolivia announced the end of its military operations in the country nearly a decade ago Bitcoin The ban imposed on crypto has been lifted. Its aim is to balance the country’s economy and modernize payment systems. Bolivia has become the first country in Latin America to take steps in favor of crypto. However, its Central Bank has not given the status of legal currency to Bitcoin or other cryptocurrencies. The Central Bank of Bolivia has also allowed banks to make crypto transactions. Banco Central de Bolivia had said that it is withdrawing the ban imposed on payments from cryptocurrencies, including bitcoin payments. The debt in this country is expected to increase to more than $ 21 billion by 2029. Banco Central de Bolivia has decided to allow banks to use acceptance electronic channels and provide the facility of crypto payments. However, the Central Bank of Bolivia has not approved bitcoin or other cryptocurrencies as legal currency.
