Standing Committee On Finance Meets Indian Crypto Players; Bitcoin Rises

The Standing Committee on Finance participated in the two-day meeting organised by the Blockchain and Crypto Assets Council (BACC) in Bangalore, starting May 4. After the meeting, Dr. Amar Patnaik, Rajya Sabha MP from BJD, and National and Spokesperson and Head, IT Wing tweeted, “In Bangalore, at the meeting of the Standing Committee on Finance with crypto players along with other MPs”.

Several Indian crypto exchange heads, including CoinDCX CEO Sumit Gupa and Coinswitch Kuber CEO Ashish Singhal, were present at the meeting.

 Elsewhere, LGT Bank, the financial institution owned by the princely House of Liechtenstein and part of the largest family-owned banking group in the world, is offering cryptocurrency custody and brokerage services to private clients, starting in Switzerland and Liechtenstein, Coindesk reported. 

Swiss-regulated digital asset services provider SEBA Bank will provide the crypto services to LGT’s private banking and asset management group, which holds over CHF 280 billion ($288 billion) in assets under management.

Crypto Prices

The price of Bitcoin in the cryptocurrency market rose by 1.39 per cent in the last 24 hours, and it was trading at $38,957.37 at 5:00 pm IST. According to Coinmarketcap.com, its dominance in the crypto market is currently at 42.20 per cent, up by 0.03 per cent in the last 24 hours.

In the last 24 hours, Ethereum (ETH) was trading at $2,866.57, and it was up by 1.23 per cent, while Binance Coin (BNB) rose by 0.99 per cent in the same period, and was trading at $390.63. Solana (SOL) was up by 0.98 per cent to $88.37, while Cardano (ADA) was up by 4.65 per cent to $0.8234. 

Meme Coins

At 5:00 p.m., Dogecoin was trading at $0.1327 on Coinmarketcap.com, up 1.39 per cent. Its rival, Shiba Inu, was up by 0.35 per cent, and was trading at $0.00002093. Samoyedcoin was down by 3.18 per cent, and it was trading at $0.01382, while Dogelon Mars was up by 1.26 per cent, and it was trading at $0.0000009089.

Overall Scenario

According to Coinmarketcap.com, the global crypto market cap was at $1.76 trillion, an increase of 1.20 per cent in the last 24 hours, while the total crypto market volume was at $82.43 billion, a decrease of 0.57 per cent.

Spear Finance (SPEAR) was the biggest gainer, gaining 372.71%. It was trading at $0.000004316 at 5:00 pm, according to Coinmarketcap. In contrast, MetaPay (METAPAY) witnessed the maximum loss and fell by 95.33 per cent. It was trading at $0.00000141. 

 

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