Bitcoin, Ether continue their downward trend, Shiba on the rise

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The total cryptocurrency market cap fell 0.9% in the past 24 hours to $ 2.36 trillion, while trading volume stood at $ 82 billion on Monday, according to CoinGecko.

Bitcoin prices continued their downtrend on Monday and were below the $ 49,000 level. The world’s largest and most popular cryptocurrency was trading 1% less at $ 48,729.

Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, fell more than 1% to $ 3,985. Dogecoin prices have fallen almost 2% to $ 0.16.

Other digital tokens such as Cardano, Solana, Binance Coin were also trading red in the past 24 hours.

Indian Prime Minister Narendra Modi on Friday called for united efforts to shape global standards for emerging technologies such as social media and cryptocurrencies to be used to “strengthen democracy, not undermine it” .

The Cryptocurrency and Official Digital Currency Regulation Bill, 2021 is listed for consideration and passage in the current winter session of Parliament.

“A Cryptocurrency and Official Digital Currency Regulation Bill to be introduced in Lok Sabha has been included in Lok Sabha Bulletin-Part II as part of government business that should be addressed,” said Finance Minister Nirmala Sitharaman in a written response to the House on November 30.

The Cryptocurrency and Official Digital Currency Regulation Bill, 2021 aims to “create a framework to facilitate the creation of the official digital currency to be issued by the Reserve Bank of India (RBI).” Authorizing “certain exceptions to promote the underlying cryptocurrency technology and its uses “.

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