Cryptocurrency news: Shiba Inu up by 21.8%, Binance Coin increases by 5.2%
Top cryptocurrency prices today: The world's oldest and largest cryptocurrency Bitcoin fell by 0.14% to $61,651.88
Shiba Inu has become the ninth largest cryptocurrency in the world by pushing its rival Dogecoin to the tenth spot. The meme coin has showed the highest gain of 21.80% to $0.00007514 in the last 24 hours. Binance Coin increased by 5.23% to $522.86. The world’s oldest and largest cryptocurrency Bitcoin fell by 0.14% to $61,651.88, while the second-largest token Ethereum gained by 1.47% to $4,344.77. Others like Solana and Cardano also declined by 2.95% and 1.87% to $196.93 and $1.99. Seven of the top ten cryptocurrencies were trading in red on Saturday.
Cryptocurrency prices
| S. No | Cryptocurrency | Price (in $) | Price (in Rs) | %Change |
| 1 | Bitcoin | 61,651.88 | 48,65,000 | -0.14 |
| 2 | Ethereum | 4,334.77 | 3,42,998 | 1.47 |
| 3 | Binance Coin | 522.86 | 41,500.00 | 5.23 |
| 4 | Tether USDT | 1.00 | 78.84 | -0.01 |
| 5 | Cardano | 1.99 | 157.30 | -1.87 |
| 6 | Solana | 196.93 | 15,599.00 | -2.95 |
| 7 | XRP | 1.08 | 85.00 | -0.46 |
| 8 | Polkadot | 43.10 | 3,409.10 | -1.13 |
| 9 | Shiba Inu | 0.00007514 | 0.005991 | 21.80 |
| 10 | Dogecoin | 0.28 | 22.45 | 3.82 |
*All prices as of 30th October 2021, at 9:06 AM, Table Source: Coinmarketcap.com, For rupee values: WazirX
Shiba Inu too hot to handle: WazirX
Owing to a record breaking rally and frantic trading in meme-themed cryptocurrency Shiba Inu disrupted crypto exchange WazirX as its systems could not keep up with the volumes.
According to traders on WazirX, the money was transferred from the bank, however the orders could not get executed or once placed, could get cancelled.
In a communication to its clients, it said that its team is working on scaling up the system and will give an update on the same, once the system is fixed, The Hindu Business Line reported.
Shiba Inu has been on a dream run, ever since Ethereum co-founder Vitalik Buterin donated around $1 billion worth of Shiba Inu coins to India’s Covid crypto relief fund.
India likely to regulate crypto not ban it: Report
According to a Business Today report, the Indian government is likely to regulate cryptocurrencies in its upcoming budget in February, instead of imposing an outright ban.
The report citing finance ministry officials said that a law covering cryptocurrencies in the country’s next general budget will be discussed. It also said that cryptos will be classified as a separate asset class like commodities with appropriate taxations of transactions and gains.