With Polygon, Avalanche, XRP, and Solana atop the returns chart, the top cryptocurrencies had a strong increase within the last 24 hours despite the global risk-on mentality.
In aspects of market value, Polygon saw the greatest increase among the top 20 cryptocurrencies, surging 23.81 percent to $0.6122. To $19.62, Avalanche increased 17.53 percent.
To erase its seven-day failures, XRP soared 12.45% to $0.3648. To $39.11, Solana increased 10.87%.
The second-largest cryptocurrency, Ethereum, increased by 6.86 %, hitting $1,160.32. In the past seven trading sessions, Ethereum saw a 6% increase.
Cardano increased 5.95% to $0.4984. Dogecoin and Polkadot both saw increased 6.66 percent and 4.42 percent, respectively.
The leading cryptocurrency, Bitcoin, increased by 4.17 % in the previous day to surpass the $21,000 mark at $21,252, bringing its weekly profits to 2.56 %. BNB rose 6.79% to $233.42.
The market capitalization of all cryptocurrencies was $942.31 billion, up 4.57 percent over the previous day. However, the overall value of bitcoin transactions fell 7.46% to $61.55 billion.
According to PTI, the officials’ council on GST has recommended that the GST Council postpone a decision regarding the tax efficiency of cryptocurrencies and other digital assets.
According to the Fitment Committee’s recommendation to the GST Council, a law governing cryptocurrencies is expected, and it would be critical to determine all pertinent suppliers connected to the crypto-ecosystem and classify them as products or services.
The Fitment Committee, an official committee, made up of representatives from the Center and the States, believed that a more thorough investigation of the problems surrounding the crypto environment was required.
Cristiano Ronaldo and Binance, the largest crypto exchange in the world by trading volume, have partnered to promote non-fungible tokens (NFTs). The Portuguese soccer player and Binance will collaborate over several years to produce several NFT collections for purchase on the company’s site, according to the trading platform, which added that the very first series will be launched later this year, as reported by The Economic Times.