Data from CoinDesk on Thursday shows that the price of bitcoin is down 3% today to $33,275.4. By the time of writing the news on July 8, at 5 pm (IST), the price of bitcoin in India had come down to Rs 24.24 lakh. For the past few days, the prices of this most popular cryptocurrency have been seeing a decline again. How long this decline will continue is difficult to say for sure.
At the same time, Ether, the second largest cryptocurrency after Bitcoin, also saw a decline. Ether, the coin associated with the Ethereum blockchain network, fell 3% to $2,262. As of writing the news on July 8, at 5 pm (IST), the price of Ether in India had come down to Rs 1.60 lakh. But Ethereum had given the good news in the past that it had overtaken Bitcoin in the number of daily active addresses. From these figures, Ether sent the message that its popularity is now increasing in comparison to Bitcoin.
On the other hand, talking about other cryptocurrencies, all have seen a decline. The meme based cryptocurrency Dogecoin also slipped to the bottom. It registered a decline of 5 per cent. By the time of writing the news on July 8, at 5 pm (IST), the price of Dodgecoin in India had come down to Rs 15.88. Simultaneously, other virtual tokens such as XRP, Litecoin, Cardano, Uniswap also fell by more than 2% in the last 24 hours.
EU documents showed on Wednesday that the EU will propose a new authority to crack down on new transparency requirements for money laundering and transfers of crypto-assets, as reported by Reuters.
A separate proposal will introduce new EU requirements for service providers in crypto-assets and will also play a key role in collecting and making accessible data relating to beneficiaries and beneficiaries of transfers in those assets.
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