The price of Ether has increased by about 2.63 percent. Its price was around $3,725 on Indian exchanges and $3,387 on international exchanges. Avalanche, Tether, Solana, Polkadot, Litecoin, Stellar, Bitcoin SV, Cardano and Elrond also rose. The prices of Binance Coin, Ripple, Tron and Near Protocol have fallen. In the last one day Crypto ‘s market capitalization was down by about 0.91 percent to about $2.28 trillion.
“Bitcoin has recovered to $62,000 in the past day after hitting $58,000 on Monday, while Nvidia and the Nasdaq Composite have also recovered, both of which had seen their worst declines since April earlier this week,” Edul Patel, CEO of crypto app Mudrex, told Gadgets360. “A bigger drop is unlikely with the possibility of Ether’s exchange-traded fund (ETF) being approved in the US next month,” said the trade desk at crypto exchange ZebPay.
Recently, crypto exchange Binance was fined $22.5 lakh (about Rs 18.8 crore) in the country. The Financial Intelligence Unit (FIU) imposed this fine for not complying with the Prevention of Money Laundering Act (PMLA) Act. Crypto-related firms have to follow this law for business in the country. FIU had said in a statement that Binance A notice was issued to Binance, raising questions about providing services to the citizens of the country without following the PMLA law. In this notice, the exchange was asked why action should not be taken against it for not complying with the duties under this law. Binance gave its reply to this. FIU has said that the allegations against Binance have been found to be true. After this, the Director of FIU has imposed a fine on the exchange using his powers under Section 13 of PMLA.