ISLAMABAD
\nThe cryptocurrency market remained mixed on Wednesday, with the market capitalisation inching up 0.2 percent to reach $2.08 trillion.
\nAs of 1235 hours GMT, the largest cryptocurrency Bitcoin\u2019s (BTC) price shed 0.27 percent to reach $44,182. With this decrease in price, the market capitalisation of the biggest crypto has reached $836 billion. Bitcoin shed 0.01 percent during the last seven days.
\nEther, the world\u2019s second-largest cryptocurrency by market capitalisation, jumped 1.07 percent to reach $3,138. With this increase in price, the market capitalisation of ETH has reached $369 billion. Ether has gained 0.2 percent of its value over the last seven days.
\nHowever, XRP price went down 0.39 percent to reach $0.831. The market capitalisation of XRP stands at $83 billion with this decrease. XRP has shed 5.6 percent during the last seven days.
\nOn the other hand, Cardano (ADA) price increased by 0.85 percent to reach $1.10. Its market capitalisation has reached $36 billion with this increase. ADA shed 7.3 percent in the past seven days.
\nHowever, Dogecoin (DOGE) price slipped 0.67 percent to reach $0.149. With this decrease in price, the market capitalisation of DOGE has reached $19.8 billion. DOGE has shed 5.7 percent during the last seven days.
\nMeanwhile, Deputy Governor of the Reserve Bank of India (RBI) T Rabi Sankar has advised the Indian government to ban cryptocurrencies, comparing digital currencies to Ponzi schemes and branding them a threat to control of the economy.
\nIn a speech to the Indian Banks Association, Sankar warned that cryptocurrencies \u201cthreaten the financial sovereignty of a country and make it susceptible to strategic manipulation by private corporations creating these currencies or governments that control them.\u201d
\nArguing that cryptocurrencies \u201chave no intrinsic value,\u201d Sankar claimed they are \u201cakin to Ponzi Schemes, and may even be worse,\u201d and said that the technology\u2019s philosophy to \u201cbypass the regulated financial system\u201d should \u201cbe reason enough to treat them with caution.\u201d
\nSankar also accused cryptocurrencies of \u201cat least potentially\u201d facilitating \u201canti-social activities,\u201d and warned that they would \u201cwreck the currency system, the monetary authority, the banking system, and in general the government\u2019s ability to control the economy\u201d if left to continue.<\/p>\n
India has the highest number of cryptocurrency owners in the world at more than 100 million, or roughly 7.3% of the country\u2019s population. TLTP<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD The cryptocurrency market remained mixed on Wednesday, with the market capitalisation inching up 0.2 percent to reach $2.08 trillion. As of 1235 hours GMT, the largest cryptocurrency Bitcoin\u2019s (BTC) price shed 0.27 percent to reach $44,182. With this decrease in price, the market capitalisation of the biggest crypto has reached $836 billion. Bitcoin shed […]<\/p>\n","protected":false},"author":2,"featured_media":208529,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[172,2192,174],"class_list":{"0":"post-244844","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-bitcoin","9":"tag-cryptos","10":"tag-trade"},"yoast_head":"\n