The sharp decline in Bitcoin comes after US President Donald Trump unveiled fresh tariffs on China, Canada and Mexico, triggering a selloff in global equities and a rush for safe haven buying.
Ether, XRP, Solana and Cardano rose up to 60 percent from last week's lows. Tesla's pre-market share price rallied nearly 3 percent as the Elon Musk-led company holds nearly $1.1 billion in bitcoin.
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Ripple was up nearly 30% at around $2.80, while Solana climbed some 20% to around $170. Cardano, a much smaller token by market value, initially rallied more than 60% before paring gains to trade at around $1.02.
The Trump meme coin has now tumbled 85 percent from its January peak to trade at $11.23.
Bybit hack, meme coin scandal involving Argentina's President Javier Milei and fears of US economic slowdown may have boosted the crypto selloff.
From stocks and derivatives, many young Indians are now gravitating towards crypto assets whose prices have soared after US President Donald Trump's election victory in November promised a looser regulatory regime for the asset.
Robinhood earlier this month beat fourth-quarter profit estimates, helped by a surge in equity, options and crypto trading on its platform following Trump's return to the White House.
The crypto coin claims to be only cryptocurrency which can be mined on mobile phones by leveraging one's existing social connections. The network was developed by Stanford PhD scholars.
The agency deployed a team of its tech-savvy experts who examined the "complex web" of transactions carried out in "numerous" crypto wallets to unmask the origin and controllers of these crypto wallets
The exchange expects the subsequent distributions to happen over the next three years as “more assets are realized from Illiquid Asset recoveries, including the Stolen Tokens, as well as from available shared profits generated through future operations.”
Sacheendran also shared that while the talks for bailing out hacked exchange WazirX are still on, a takeover by Binance is unlikely
Melania Trump’s crypto memecoin MELANIA has lost almost 90% of its value in the weeks since Donald Trump’s inauguration
The company, co-founded and chaired by Michael Saylor, now owns more than $45 billion worth of bitcoins. Strategy described itself as 'the world’s first and largest Bitcoin Treasury Company', and a 'business intelligence' company listed on Nasdaq 100.
The largest cryptocurrency fell as much as 3.6% to $98,199, while other major tokens including Ether and Solana also lost ground
The discussion paper once out will seek feedback from industry stakeholders to finalise a framework for virtual digital assets. It papers was expected to be out by September 2024 but was delayed to March
Crypto assets have been proposed to be included under Section 158B of the Income Tax Act, effective retrospectively from February 1, 2025. This will bring VDAs on par with other undisclosed income assets such as money, bullion, jewellery.
'We urge investors and stakeholders not to rely on unverified media reports,' says Paytm
Trump and Melania cryptocurrencies, the latter which was launched on Sunday, were created on the Solana blockchain. The price of Solana's coin also rose over the weekend, hitting an all-time high of $294.33 on Sunday.
Trump is expected to unleash a barrage of executive orders on his first day in office, including decrees on immigration, tariffs and energy
$TRUMP token, launched on Saturday by US President-elect Donald Trump, initially captivated crypto enthusiasts, surging from an opening price of $10 to $70 by Sunday
Trump has hinted as executive orders aimed at reducing crypto-related regulations as well as to promote widespread adoption of digital assets, inviting the moniker of being the first 'crypto president'.
Trump meme coin witnessed a 600 percent rise in its value at its peak shortly after its launch by President-elect Donald Trump. However, later it tumbled after Melania Trump launched her own cryptocurrency token.
At the bitcoin conference earlier this summer, Trump said it the US government would keep, rather than auction off, the billions of dollars in bitcoin it has seized through law enforcement actions.
This price spike comes in the wake of December’s Consumer Price Index (CPI) release, which showed mixed signals regarding inflation.