Bitcoin, Ethereum, Shiba gain while Dogecoin slips

While to total cryptocurrency trading volume in the last day is at $132 Billion, Bitcoin dominance is at 38.8%, with Ethereum dominance at 20.2%, according to CoinGecko.

Besides, Ethereum went up 5.2% early on Thursday, at $4,037.44. Shiba Inu went up 0.8% in the last 24 hours at $0.00003397.  Dogecoin, on ther other hand, dropped by 0.4% at $0.181435 in the last 24 hours. 

The performance of the other cryptocurrencies also improved as Polygon, Litecoin, Chainlink, Solana and Cardano were trading with healthy gains over the last 24 hours.

Meanwhile, on Wednesday in the ongoing winter session of Parliament, the government announced that is unlikely to bring a bill on cryptocurrency, top sources said. They also suggested that whenever a bill will be brought, it will be referred to the parliamentary standing committee for wider deliberations with stakeholders.

The bill, which was listed in the government’s legislative business of the winter session, seeks to “create a facilitative framework for the creation of the official digital currency to be issued by the Reserve Bank of India.”

It also seeks to prohibit all private cryptocurrencies in India. However, it “allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses”, according to the bill listed for introduction on the Lok Sabha website.

The sources said it is unlikely the bill will be brought in the ongoing winter session. Currently, there is no regulation or any ban on the use of cryptocurrencies in the country.

Against this backdrop, Prime Minister Narendra Modi, last month, held a meeting on cryptocurrencies with senior officials, and indications are that strong regulatory steps could be taken to deal with the issue.