scorecardresearchBitcoin holds above $19,000, other cryptocurrencies in green

Bitcoin holds above $19,000, other cryptocurrencies in green

Updated: 04 Jul 2022, 05:12 PM IST
TL;DR.

Bitcoin was trading at $19,453, up nearly 2.13 percent, steering away from its past days while Ether rose by 1.19 percent to 1,073. 

A representation of the virtual cryptocurrency Bitcoin is seen in this picture. 

A representation of the virtual cryptocurrency Bitcoin is seen in this picture. 

The global cryptocurrency market recovered on Monday, July 4 as the flagship currency, Bitcoin, was holding above $19,000. The mildly positive cues in Bitcoin’s value translated into better market prospects.

Bitcoin, the world's largest cryptocurrency, was trading at $19,453, up nearly 2.13 percent, steering away from its past days. The token is down 58% in the first six months of 2022, its worst first half of year showing ever.

Ether, the second largest token in terms of market capitalization, rose by 1.19 percent to 1,073, a little changed from the previous day.

Other popular digital tokens, which tend to move in tandem with bitcoin, also rose slightly. Shiba Inu, the second-largest meme coin, gained almost 1.40 percent to $0.000010 whereas the most followed meme coin Dogecoin rose as much as 1.64 percent to $0.066815.

The global cryptocurrency market cap increased to 1.37 percent to $876.91 billion in the last 24 hours. However, the total cryptocurrency trading volume decreased 3.74 percent to $39.61 billion. Out of a total market cap, bitcoin's dominance is 42.34 percent, an increase of 0.42 percent over the day, as per CoinMarketCap data.

“The new section mandates a person, who is responsible for paying to any resident any sum by way of consideration for transfer of a virtual digital asset (VDA), to deduct an amount equal to 1 percent of such sum as income tax thereon. The tax deduction is required to be made at the time of credit of such sum to the account of the resident or at the time of payment, whichever is earlier,”said the Central Board of Direct Taxes in a notice dated June 22.

In global news, cryptocurrency lending platform Celsius has laid off 150 employees which is a quarter of its workforce, as the global crypto market goes through its worst meltdown.


Article
The total number of bitcoins has been capped at 21 million.
First Published: 04 Jul 2022, 05:12 PM IST