Crypto Price in India Today: Bitcoin, Ethereum, Dogecoin Register Losses; LUNA, XRP Gain

Bitcoin price in India stood at Rs. 2.29 lakhs on May 3. Majority cryptocurrencies followed suit, posting weak performances across price charts.

Bitcoin is the oldest and most valuable cryptocurrency in the world.

Source : Getty

New Delhi: Bitcoin (BTC) price in India is struggling to find itself in the greens in the first week of May, as the world’s oldest and most valuable cryptocurrency has registered a loss of 1.41 percent (over a period of 24 hours) on May 3. As per Indian exchange WazirX, BTC price stood at Rs. 31.15 lakhs on Tuesday. Other popular cryptocurrencies such as Ethereum (ETH), Tether (USDT), and Binance Coin (BNB) also failed to record gains. Dogecoin and Shiba Inu also failed to impress as both memecoins were seen in reds on crypto price charts. 

At the time of writing, as per WazirX, ETH price in India stood at Rs. 2.29 lakhs. USDT and BNB, on the other hand, stood at Rs. 81.19 and Rs. 31,520, respectively.

On global exchanges as well, Bitcoin price stood at $38,484.99, as per Coindesk. As per the New York-based crypto tracker, ETH price stood at $2,851.65, while USDT and BNB stood at $1 and $380. 

‘Dogefather’ Elon Musk’s favourite memecoin Dogecoin (DOGE) also registered minor losses over a day, standing at Rs. 10.76 on Tuesday. Fellow dogcoin Shiba Inu (SHIB) stood at Rs.  0.001701. 

However, not all cryptocurrencies posted severe losses, as Terra (LUNA) registered a 24-hour gain of 2.72 percent, standing at Rs. 6,977.43 in India, and $84.20 on global exchanges. Similarly, Ripple (XRP), Cardano (ADA), and Avalanche (AVAX) stood at Rs. 51.53, Rs. 65.18, and Rs. 5,038.88, respectively, all registering considerable gains. Globally, these cryptos stood at $0.62, $0.78, and $61.50, respectively.

Meanwhile, Finance Minister Nirmala Sitharaman recently said that will take a thoughtful decision on regulation over cryptocurrency. “It can't be rushed through,” Sitharaman said during an interaction at Stanford University in late April. In another related announcement last month, India’s Computer Emergency Response Team (CERT-In) mandated that a five-year data storage period must be put in place for crypto exchanges operating in the country. 

In other crypto-related news, the Wikimedia Foundation announced on May 1 that the organisation will no longer accept donations in cryptocurrencies. Wiki editor Molly White shared in a tweet thread, “The decision was made based on a community request that the WMF no longer accept crypto donations, which came out of a three-month-long discussion that wrapped up earlier this month.”