Crypto Market in Profit, Bitcoin Price More than USD 68,000, Ether, Solana, Litecoin in Gain

There is a bullishness in the crypto market before the presidential elections to be held in America next month. Bitcoin’s price broke out of its nearly three-month slump on Monday. Bitcoin was at around $68,771 on international exchanges and around $69,982 on Indian exchanges with a profit of about one percent.

Second largest cryptocurrency Ethereum The price has increased by about 3.62 percent. On international exchanges it was at around $2,739. According to Gadgets360’s crypto price tracker, the price of Ether on Indian exchanges was around $2,760. Apart from this, there was also a rise in Avalanche, USD Coin, Ripple, Litecoin, Solana, Polygon and Tron. Cryptocurrencies that declined included Cronos, Stellar and Neo Coin. In the last one day, the market capitalization of crypto increased by more than 1.75 percent to about $ 2.38 trillion.

Edul Patel, CEO of crypto exchange Mudrex, told Gadgets360, “The presidential election is coming soon in the US. Investors are expecting measures to be taken in favor of crypto. Bitcoin also continues to rise. There are about two billion dollars in spot ETFs. There has been a weekly inflow of Rs. “Typically, the December quarter is bullish,” said the markets desk of crypto app CoinSwitch. “USDT’s market capitalization has surged to nearly $120 billion, solidifying its position as the largest stablecoin.”

To prevent cases of fraud in this segment, the United Nations Office on Drugs and Crime (UNODC) has suggested imposing penalties on unlicensed crypto firms. UNODC estimates that crypto-related scams caused losses of approximately $37 billion in Southeast Asia last year. Social media is also used in these scams. UNODC has advised the governments of Southeast Asian countries to be more vigilant and take measures to prevent cases of crypto-related fraud. Recently, the Delhi High Court had ordered the Ministry of Communications to remove 38 websites imitating a crypto firm. Crypto firm Mudrex had filed a petition in the court demanding action against fake websites. Mudrex users had reported being scammed through these websites.