On a day that major cryptocurrencies registered a minor change in prices, Finance Minister Nirmala Sitharaman said that regulating cryptocurrencies needs to be a collective effort on a global level as technology is constantly changing and evolving. She was speaking on December 3 at a panel discussion on the topic ‘FinTech for an inclusive growth across the globe’ by Infinity Forum, according to various media reports. On the other hand, the crypto coin Euro Shiba Inu (ESHIB), which jumped more than 25,000 per cent on December 2 to shed the gains later in the day, was up even on December 3.
The global crypto market capitalisation reached $2.63 trillion, a 0.91 per cent increase over the last 24 hours, at 4:30 pm. The total crypto market volume was $115.92B billion, a decrease of 4.79 per cent in the last 24 hours, according to coinmarketcap.com, a global crypto exchange.
The price of Bitcoin (BTC), the top cryptocurrency by market capitalisation, was up 0.93 per cent in the last 24 hours and it was trading at $57,068.99 at 4:30 pm. Bitcoin’s prices are up 4.65 per cent in the last seven days.
Ethereum (ETH), the second-largest cryptocurrency by market value, gained 1.68 per cent in the last 24 hours and was trading at $4,592.91 at 4:30 pm, according to coinmarketcap.com.
Binance Coin (BNB) gained over 1.16 per cent in the last 24 hours and was trading at $624.27. Tether (USDT) was trading at $1, witnessing a fall of 0.13 per cent. Solana (SOL) increased 5.55 per cent in the last 24 hours and was at the fifth position in the coinmarketcap.com list by market value; it was trading at a price of $237.70.
Top meme coins by market value such as Dogecoin, Shiba Inu, Dogelon Mars (ELON) and Samoyedcoin (SAMO) continued to fall in the last 24 hours, according to coinmarketcap.com even as the Euro version of Shiba Inu Euro Shiba Inu (ESHIB) continued to rise.
Dogecoin fell 1.52 per cent in the last 24 hours and was trading at $0.2102 at 4:30 pm, while Shiba Inu witnessed a fall of 1.29 per cent in the last 24 hours and was trading at $0.00004185 at 4:30 pm.
Dogelon Mars (ELON) has fallen by 3.33 per cent in the last 24 hours and was trading at $0.000001498, while Samoyedcoin (SAMO) was trading at $0.06744 and recorded a fall of 3.80 per cent in the last 24 hours.
Meanwhile, Euro Shiba Inu jumped 69.64 per cent in the last 24 hours and was trading at $0.0000000002601 at 4:30 pm according to coinmarketcap.com.
In sync with the government’s stance on regulating cryptocurrencies, Sitharaman said on December 3 that regulating cryptocurrency requires collective effort as the technology is constantly evolving. “Even as we are thinking about it at a national level, there should simultaneously be a global mechanism through which we are constantly monitoring the movement of technology… there needs to be collective effort to monitor the movement of technology and devise regulations,” she was quoted as saying by Livemint.
Meanwhile, technology company Together Labs announced at a pre-sale event on December 2 that VCORE, an ERC-20 token that rewards active, international players, creators, and earners across the metaverse, will be available to users outside of the US and Canada via its IMVU platform. “This initial presale was to connect with and secure interest from the top strategic crypto and metaverse buyers which know our space well,” said John Burris, chief strategy and blockchain officer of Together Labs in a press statement.