Bitcoin is starting to recover after a recent plunge. The world’s oldest cryptocurrency, Bitcoin, opened trading Thursday, December 2, at $59,987 (roughly Rs. 45 lakh) on Indian cryptocurrency exchange CoinSwitch Kuber. Bitcoin trades on international exchanges like CoinMarketCap or Binance for $56,400, which is roughly Rs. 42 lakh). Although Bitcoin has seen marginal gains, it seems that the cryptocurrency is on its way to regaining its historic high of $68,000 (roughly Rs. 51 lakh).
Ether broke with the norm and registered gains independently of Bitcoin. Ether currently trades at $4,828 (roughly Rs. According to the Gadgets 360 cryptocurrency price tracker, Ether has dropped 2.13 percent in value.
Only a handful of altcoins have registered opening gains today. These include Tether and USDCoin.
Other crypto tokens, such as Cardano and Ripple, Polkadot and Dogecoin were also popular, but the day ended with losses.
Market momentum has been fluctuating recently with very little gains or losses for majority tokens. It will be interesting to see how market reacts to the increasing noise and opinions about crypto advertisements.
Other crypto news: Meta is the rebranded umbrella group for Facebook & Instagram. It has allowed companies to place crypto-promoting ads on its platforms. If they possess one of the 27 required licences, the company will allow crypto advertisers to run advertisements on Meta platforms.
There has not been a regulation to ban crypto ads in India yet, although a Crypto Bill is likely to introduce a ban on all “private cryptocurrencies” in Parliament.
Gadgets 360 was told by Bhavesh Talreja CEO and Founder, Globale Media, that ad should contain a disclaimer regarding the volatility and associated investment risks.