FM Says RBI, Govt Working In ‘Complete Harmony’ On Crypto; Bitcoin Falls

The finance minister said the finance ministry and RBI are working together on cryptocurrencies and other issues. The price of Bitcoin fell 1.24 per cent in the last 24 hours, while Ethereum was down 2.47 per cent

Outlook Money Team

Updated on: 14 February 2022 7:39 pm

Crypto update today

Finance minister Nirmala Sitharaman, while addressing reporters at the conclusion of the Reserve Bank of India (RBI) board meeting, said that the government and RBI are in “complete harmony” on cryptocurrencies and other issues as well, according to various media reports.

“So, with the RBI and the ministry, not just on crypto but on every other thing as well, I think over the last few years, you would have noticed that there is complete harmony with which we are working. We respect each other's domain and know what we have to do with each other's priorities," she said.

Meanwhile, Indian cricketer Bhuvneshwar Kumar is all set to launch his own non-fungible tokens (NFTs) in partnership with the cricket digital collectibles platform Rario. These NFTs will be exclusively available on Rario.

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In the cryptocurrency market, the price of Bitcoin (BTC) was down again, by 1.24 per cent. The cryptocurrency was trading at $42,044.95 at 6:00 pm. Its dominance in the crypto market is currently at 42.69 per cent, up by 0.42 per cent in the last 24 hours, according to Coinmarketcap.com.

Ethereum (ETH) was trading at $2,867.07, with a fall of 2.47 per cent in the last 24 hours, while Binance Coin (BNB) was down by 2.12 per cent over the same period and was trading at $396.28. Solana (SOL) was down by 3.81 per cent to $92.69 and Cardano (ADA) was down by 3.61 per cent to $1.03.

Meme Coins

Among leading meme coins, Dogecoin was down by 5.44 per cent, and was trading at $0.1446 at 6:00 pm. Rival Shiba Inu was up by 1.60 per cent and was trading at $0.00002998. Dogelon Mars was down by 3.97 per cent and was trading at $0.0000009339, while Samoyedcoin was trading at $0.02282, recording a sharper fall of 9.01 per cent.

Overall Scenario

The global crypto market cap was at $1.87 trillion, registering a decrease of 2.06 per cent in the last 24 hours, while the total crypto market volume was $66.35 billion, up by 3.85 per cent.

ROBOTSHIBSWAP (RIBSHIB) became the biggest gainer, recording a rise of 323.78 per cent. It was trading at $0.0007917 at 6:00 pm, as per Coinmarketcap data. In contrast, MetaDogecolony (DOGECO) witnessed the maximum loss, falling 98.89 per cent. According to Coinmarketcap, it was trading at $0.0000001.