Daily Times

The cryptocurrencies bounced back on Tuesday, with market capitalisation gaining 6.1 percent to reach $2.4 trillion.

As of 1250 hours GMT, the largest cryptocurrency Bitcoin price jumped by 7.60 percent to $49,322. With this increase in price, the market capitalisation of the biggest crypto has reached $932 billion.

Ether, the world’s second-largest cryptocurrency by market capitalisation, gained 7.13 percent to reach $4,057. With this increase in price, the market capitalisation of ETH has reached $477 billion.

Similarly, XRP price gained 7.95 percent to reach $0.903. The market capitalisation of XRP stands at $90.2 billion after this increase.

On the other hand, Cardano (ADA) price jumped 4.96 percent to hit $1.27. Its market capitalisation has reached $41.8 billion with this increase.

Similar was the case with Dogecoin (DOGE) whose price went down by 5.79 percent to reach $0.172. With this increase in price, the market capitalisation of DOGE has reached $22.8 billion.

Meanwhile, India’s cryptocurrency bill is unlikely to be introduced in the current session of the parliament, as the bill is not on the list of business to be taken up in the last week of the winter session of the parliament. The government is still finalising details of the cryptocurrency legislation.

Last week, local media reported that the government is planning to make additional changes to the cryptocurrency bill. The country’s finance minister, Nirmala Sitharaman, recently said that the bill needed to be reworked. Indian Prime Minister Narendra Modi’s administration wants wider consultations on the matter before finalising the rules to govern digital currencies and there isn’t enough time as the current session ends on December 23. The Indian government is reportedly planning to regulate crypto assets but ban the use of cryptocurrencies for payments.