New Delhi: Most of the cryptocurrencies are trading in the red on October 23. The global crypto market cap suffered a 2.15% decrease with $2.52 trillion over the last day. The total crypto market volume is $105.85 billion accounting for a 16.32% increase.
Currently, Bitcoin is trading at Rs 47,53,253 lakh with a dominance of 45.53%, suffering a decrease of 0.04% over the last 24 hours. The value is lower than Rs 50 lakh it registered this week.
Ethereum slides over 2% in the last 24 hours.
Bitcoin experienced a surge on October 21 following the start of the first US bitcoin futures-based exchange-traded fund (ETF) namely the ProShares Bitcoin Strategy ETF. Analysts stated that ETF may simplify access to cryptos for retail investors.
On the other hand, retail major Walmart has started a program that allows shoppers to buy bitcoin at Coinstar kiosks in its store. On October 21, Walmart Inc. informed its customers that few US-based stores would allow them to buy bitcoin using ATM-like machines installed by Coinstar.
Coinstar is a company known for its machines that enable the exchange of physical coins for cash. It has collaborated with digital currency exchange CoinMe to allow customers to buy bitcoins at some of its kiosks.
According to Walmart spokesperson, there are 200 Coinstar kiosks located in Walmart stores all over the United States that will allow customers to buy bitcoins.
Besides in India, the Security and Exchange Board of India (SEBI) announced on October 21 that investment advisors are blocked from advising on regulated instruments. This has banned investment advisors from advising on cryptocurrencies, digital gold, and other unregulated products.
Moreover, the crypto sectors are seeing an all-around development in sentiments as investors are depositing gold for cryptocurrencies with inflation picks up, fleeing a metal historically touted as a store of value to buy digital assets little more than a decade old.