Crypto Price Today: Polygon soars 24%, Avalanche 18%; Ethereum, Bitcoin gain up to 7%

New Delhi: The top cryptocurrencies saw a sharp jump over the past 24 hours amid a global risk to sentiment, with Polygon, Avalanche, XRP and Solana topping the yield charts.

The biggest jump among the top 20 cryptos by market value was seen in Polygon, which rose 23.81 percent to $0.6122. Avalanche was up 17.53 percent at $19.62.

XRP surged 12.45 percent to $0.3648, erasing its seven-day losses. Solana rose 10.87 percent to $39.11.

Ethereum, the second largest cryptocurrency, rose 6.86 percent to $1,160.32. Ethereum is up 6 percent in the past seven trading sessions.

Cardano is up 5.95 percent to $0.4984. Polkadot and Dogecoin are up 6.66 percent and 4.42 percent, respectively.

The largest crypto-bitcoin is also up 4.17 percent over the past 24 hours to hit $21,000 at $21,252, bringing its one-week gains to 2.56 percent. BNB rose 6.79 percent to $233.42.

The global cryptocurrency market cap stood at $942.31 billion, up 4.57 percent in the last 24 hours. However, total cryptocurrency trading volume fell 7.46 percent to $61.55 billion.

News from India

The GST Officers Committee has proposed that the GST Council defer a decision on taxation of cryptocurrency and other virtual digital assets, PTI reported.

The Facilities Committee has suggested in its report to the GST Council that legislation to regulate cryptocurrency is awaited and that it would be important to identify all relevant supplies related to the crypto ecosystem, alongside classifying whether they are commodities or services.

The committee of officials, consisting of center and states, dubbed the Establishment Committee, believed that a deeper investigation into the issues related to the crypto ecosystem was needed.

Global News

Binance, the world’s largest cryptocurrency exchange by trading volume, announced on Thursday that it has signed a partnership with Cristiano Ronaldo to promote non-fungible tokens (NFTs). As part of the multi-year agreement, the Portuguese soccer star and Binance will create a series of NFT collections for sale on the company’s platform, the cryptocurrency exchange announced, adding that the first collection will be released later this year.

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