Cryptocurrency prices have seen a fall on Monday . Bitcoin prices have reached their lowest level in more than a month. Bitcoin, the world’s largest and popular cryptocurrency, fell more than 4 percent to $38,580 on Monday. The value of the global crypto market has fallen by almost four percent to $ 1.9 trillion during the last 24 hours. Ether, the second largest cryptocurrency related to the Ethereum blockchain, has also seen a decline of more than four percent. This cryptocurrency has fallen to a low of 2,902.
Meanwhile, Dogecoin has fallen more than 6 percent to $ 0.13. Whereas, Shiba Inu has also fallen by about 6 percent to $ 0.13. Whereas, Shiba Inu has also fallen by about 6 percent to $ 0.000024.
Other digital tokens have also seen a decline. Avalanche, Cardano, Solana, Terra, Polkadot, XRP, Stellar Uniswap, Polygon and Litecoin have seen losses of 5 to 8 percent during the last 24 hours.
Digital currency can replace cash: RBI Deputy Governor
Let us tell you that RBI Deputy Governor T Rabi Shankar said in a webinar a few days ago that Central Bank Digital Currency (CBDC) can replace cash-based transactions to some extent in India. Shankar had said that in the last five years, where digital payments have grown in India at an average annual growth rate of around 50 per cent. At the same time, the supply of currency has almost doubled.
Apart from this, the government had listed the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 to be introduced in the winter session of Parliament. It was also listed for the first budget session, but it could not be presented, as the government had decided to work on it again.
Let us tell you that cryptocurrencies have emerged as a popular option among people as an investment in the recent times. Especially, a large number of youth are investing money in this.