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Ethereum Jumps 5%, Proposed Cryptocurrency Bill Awaits Cabinet Approval, Says Nirmala Sitharaman

Ethereum witnesses a rise of over 5.28 per cent in the last 24 hours, while Bitcoin falls by around 0.49 over the same period at 7:30 am, as per coinmarketcap.com.

Ethereum (ETH) jumped more than 5 per cent, while prices of Bitcoin (BTC) and Binance Coin (BNB) changed slightly in the last 24 hours on December 1, according to data from global crypto exchange coinmarketcap.com. Meanwhile, Finance Minister Nirmala Sitharaman on Tuesday, while answering questions in the Rajya Sabha, said that the cryptocurrency bill will be introduced after approval from the Union Cabinet. 

Bitcoin, the largest cryptocurrency by market value, fell 0.49 per cent in the last 24 hours and was trading at $57,152.39 at 7:30 am. Ethereum, the second-largest cryptocurrency by market capitalisation, rose 5.28 per cent in the last 24 hours and was trading at $4,708.27, according to coinmarketcap.com.

The price of Binance Coin (BNB) rose over 1.01 per cent in the last 24 hours and it was trading at $631.02. Tether (USDT) was fourth in the list by market cap and was trading at $1, witnessing a rise of 0.07 per cent. Solana (SOL) increased 3.34 per cent in the last 24 hours and was at the fifth position in the coinmarketcap.com list; it was trading at a price of $212.47.

Biggest Gainer and Loser

Prince Floki V2 (PRINCEFLOKI) became the biggest gainer in the last 24 hours, clocking a rise of 545.48 per cent; it was trading at $0.00000001522 at 7:30 am. Cross Chain Capital (CCC) lost the most in the last 24 hours, falling 91.04 per cent, and was trading at $0.0000008142.

Meme Coins

Except for Dogecoin (DOGE), all other major meme coins such as its rival Shiba Inu (SHIB) Dogelon Mars (ELON) and Samoyedcoin (SAMO) have witnessed a huge rise in the last 24 hours, according to coinmarketcap.com.

Top meme coin by market value Dogecoin fell 1.71 per cent in the last 24 hours and was trading at $0.215, while Shiba Inu witnessed an increase of 8.09 per cent in the last 24 hours and was trading at $0.00004785 at 7:30 am.

Dogelon Mars (ELON) has risen by 6.30 per cent in the last 24 hours and was trading at $0.000001644, while Samoyedcoin (SAMO) was trading at $0.07701 and recorded a rise of 12.97 per cent in the last 24 hours, according to coinmarketcap.com.

Latest Update

Finance Minister Nirmala Sitharaman, while replying to a series of questions in the Upper House of Parliament on Tuesday, said that the proposed crypto Bill takes into account the fast-changing virtual currency space, and incorporates features of the earlier Bill that could not be taken up.

“Yes, last time [monsoon session] there was a Bill but subsequently because there were other dimensions... that Bill has been reworked. And in a way, the Bill which is coming now is a new Bill,” Sitharaman was quoted as saying.

On crypto advertisements, she said that the guidelines of the Advertising Standards Council of India (ASCI) are being looked into.

 

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