Bitcoin, ethers start on the upswing in 2022 while altcoins have mixed the day of crypto trading


The first day of Bitcoin trading in 2022 was a positive one, but it hasn’t really worked out since then. After one of the worst months since the May 2021 crash, Bitcoin failed to keep up with the festive high right after Christmas, when its values ​​surged above USD 52,000 for the first time in three weeks. Bitcoin’s valuation is down 0.28 percent in the past 24 hours and is trading at $ 50,429 on the CoinSwitch Kuber Indian exchange (about roughly Rs. 34.92 lakh).

Ether, unlike Bitcoin, got a much-needed boost earlier in the year. The world’s second most valuable cryptocurrency is up about 2 percent in the past 24 hours after a few healthy days of trading over the weekend. At the time of publication, Ether on CoinSwitch Kuber is valued at $ 4,083 (about 3.03 rupees), while values ​​on global exchanges see the second largest cryptocurrency by market capitalization at $ 3,796 (about 2.82 rupees), where the coin is listed in an identical increase of 1.9 percent over the last 24 hours. The slump means that Ether’s performance has improved slightly over the past week, but is still down 6.8 percent in value.

Gadgets 360’s cryptocurrency price tracker shows a mixed trading day for most of the popular altcoins. Tether, Ripple, Cardano and Polygon all fell in value while Uniswap, Litecoin, Chainlink and Polkadot remain the day’s biggest losers.

Meme coins didn’t have a good end to the week, but 2022 got off to a slightly better start despite lower investor interest. Dogecoin is up 0.5 percent in 24 hours and is valued at $ 0.18 (approximately 13.78 rupees). Meanwhile, Shiba Inu is up 0.7 percent and is valued at $ 0.000036 (about 0.002705 rupees). The value of SHIB is down 11.5 percent over the past week, while Dogecoin is down 9.4 percent.

According to CoinGecko, Bitcoin’s value has fallen over 7 percent in the past week, even though the cryptocurrency is up more than 46.8 percent year-over-year.

Elsewhere, the GST Mumbai East Commissionerate has found a GST circumvention worth Rs. 40.5 crore and Rs. 49.20 crore recovered in cash in relation to evaded GST, interest and a penalty from the WazirX cryptocurrency exchange.

According to a press release from the commissioner’s office, the exposure came during an investigation into the business activities of the exchange, which is managed by Zanmai Labs and the cryptocurrency WRX is owned by Binance Investment, Seychelles. According to the press release, this exchange offers the trader the option to trade in rupees or WRX. The WRX must be purchased from the WazirX platform. The taxpayer collects a commission from both the buyer and seller for every transaction in cryptocurrency, it said.

After the GST bypassed by the cryptocurrency service provider WazirX, the general management of GST Intelligence reportedly dropped heavily on the cryptocurrency exchanges operating in the country. “About half a dozen offices of cryptocurrency service providers were searched and the DGGI has uncovered massive tax evasion (GST),” reported ANI, citing sources.

Interested in cryptocurrency? We discuss everything about crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music, and anywhere you get your podcasts.

Cryptocurrency is an unregulated digital currency, not legal tender and is subject to market risks. The information provided in this article is not intended as financial advice, trading advice, or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for losses that may arise from an investment based on perceived recommendations, forecasts or other information contained in the article.


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