Crypto enthusiasts in India were a happy lot for two reasons. One was bitcoin ending 0.53 percent higher at Rs 32,18,101.32 and another was Elon Musk”s tweet that made the ‘value’ of dogecoin go to the moon literally with a 26 percent jump.
The total cryptocurrency market-cap stood at $2.05 trillion whereas total market volume over the 24 hour cycle stood at $84.28 billion.
This tweet went viral which is okay as many tweets go viral but the way that it led the prices of the meme based cryptocoin to jump massive 26 percent in value is unprecedented. One unit of dogecoin is currently trading at $0.19 The value has jumped by over 26%.
Asia’s first crypto ETF may soon become reality at GIFT city:
Gujarat’ s GIFT city could become home to Asia’s first cryptocurrency exchange traded fund(ETF). It will become Asia’s first cryptocurrency ETF.
Cosmea Financial Holdings of Mumbai and Kling trading India of Hyderabad have joined hands for Torus Kling Blockchain IFSC. They signed an MOU with India INX, International arm of BSE for a new digital asset product which will be traded at the International financial services centre of GIFT city.
The company has already secured an approval from the US securities and exchange commission to launch Crypto futures ETF. They are still waiting for a nod from Indian authorities as they have made an application to regulator-IFSC authority for the approval.