The cryptocurrency market traded flat in the last week, even as major cryptocurrencies traded in the red. The market capitalisation stayed above $1 trillion. However, major digital tokens like Bitcoin and Ethereum fell by over 3.5 per cent.
On Friday at 4 PM, Bitcoin had the highest market cap and was trading at $23,157, over 3.6 per cent below the price seven days ago. However, in the last 24 hours, it gained over 1 per cent.
Ethereum, the second largest cryptocurrency, was trading at $1,661, 2.27 per cent up in the last 24 hours. However, in the last seven days, it has fallen 3.7 per cent.
On Friday, the Reserve Bank of India (RBI) hiked the repo rate by 50 basis points to 5.4 per cent to control the surging inflation. In India, inflation has stayed above the upper tolerance level of 6 per cent for six months.
However, the rate hike by the RBI is unlikely to impact the crypto prices in India, according to experts.
"RBI's MPC meetings on a standalone basis have very minimal or no...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...