Cryptocurrency prices continue to be in the red on September 21. The global cryptocurrency market cap is at Rs 138.43 lakh crores, a 9.8 percent decrease over the last day, while the total crypto market volume over the last 24 hours is Rs 11.28 lakh crores , which makes a 83.21 percent increase.
Bitcoin’s price is currently Rs 34,24,116 and its dominance is currently 42.47 percent, an decrease of 0.06 percent over the day.
Prices of cryptocurrencies plunged on September 20 as concerns over the spillover risk to the global economy from Chinese property group Evergrande’s troubles rippled over to wider markets.
The loss in the value of cryptocurrencies comes at a time when institutional interest in the space has surged and some investment banks have ramped up their forecasts for cryptocurrencies in the coming months.
“Their fate seems a little tied to equities at the moment, and the price action is incredibly similar too,” said John Marley, CEO of forexxtra, a London-based FX consultancy.
Furthermore, El Salvador has bought 150 more bitcoins, President Nayib Bukele announced, taking the Central American country’s holdings of the volatile cryptocurrency to 700 coins.
“We just bought dip,” Bukele tweeted late on September 19, referring to a recent slump in bitcoin prices.
“We just bought the dip. 150 new coins! El Salvador now holds 700 coins.#Bitcoin”
Nearly a month after PayPal announced that it would expand its cryptocurrency offering in the UK, the company has said that the launch was complete for all eligible PayPal account holders.
The roll-out in UK is the first international expansion of PayPal’s cryptocurrencies services outside of the United States.
In the UK, PayPal’s service will rival established cryptocurrency exchanges such as Coinbase Global Inc, and fintech startups such as Revolut.
As off 7.35 am on September 21, these are the prices of the largest cryptocurrencies (data from WazirX):