Yesterday SC quashed the ban on Virtual Currencies by RBI and the results are positive for the Cryptocurrency Market.
The whole cryptosphere was seeing Red with all the top cryptocurrencies like Bitcoin, Litecoin, Bitcoin Cash, etc. suffering a loss. But today, after the news of India lifting the ban has resulted in a spike in the market at a high rate.
At the time of writing, the major cryptos like Bitcoin (BTC) is up by 3.84%, Ethereum (ETH) sees a hike of 3.72%, XRP is up by 2.61%.
The fork of Bitcoin i.e. Bitcoin Cash (BCH) see a hike of 4.80%, Bitcoin Gold saw major green with 13.28%.
Binance who had recently acquired WazirX, an Indian Crypto Exchange saw an increase of 7.25% in its Binance Coin (BNB). Tezos (XTZ) coin entered the Top 10 Cryptos in the Market with a rise of 11.97% in its price.
Some other coins that saw a major hike are:
- IOTA (MIOTA) by 6.49%
- ICON (ICX) by 28.75%
- TRON (TRX) by 4.49%
- Zcash (ZEC) by 4.26%
The market as reflects on coinmarketcap saw Green on almost every Cryptocurrency in Top 100. This shows that if the World’s biggest Democracy i.e. India takes a stand in favor of Virtual currency, the impact on the overall market is positive. We are yet to see if the market will maintain its momentum in the coming days or will the sentiment of crypto enthusiasts and analysts change.
Stay tuned for more Market Updates!
