Bitcoin, Ethereum Rise; Indian Govt To Meet Crypto Stakeholders Today

The prices of top cryptocurrencies rose on November 15, with the Indian government likely to meet top cryptocurrency stakeholders later in the day, and Bitcoin, the world’s largest cryptocurrency, witnessing the Taproot upgrade.

Prices of the world’s biggest cryptocurrency by market cap, Bitcoin (BTC), was trading at around $65,676.39, while the price of Ethereum (ETH), the second-biggest cryptocurrency, was at around $4,701.17, at 9 am, according to data from cryptocurrency exchange Coinmarketcap.com.

Bitcoin has witnessed a rise of around 1.60 per cent in the last 24 hours, while ETH has jumped by around 1.45 per cent over the same period.

Binance Coin (BNB) remained in the third position with a market price of $652.68. It witnessed 1 per cent rise in the last 24 hours. Tether (USDT), at the fourth position, was trading at $0.9997, at 9 am, with 0.02 per cent fall in the last 24 hours, according to Coinmarketcap.com. Solana (SOL) and Cardano (ADA) were at the fifth and sixth positions, respectively.

“Ethereum seems to be gaining momentum, trading at about $4,672.85, after a retracement. Besides this, Polkadot, XRP and TRX have been on the rise lately. Bitbns has witnessed an increase in trading with tokens such as CHR, WIN and have been bullish lately,” says Gaurav Dahake, CEO and founder Bitbns.

Meme Coins

Meme coin Shiba Inu (SHIB) witnessed a setback as prices fell 2.20 per cent in the last 24 hours, while Dogecoin (DOGE) has recorded a 0.49 per cent rise in the last 24 hours.

Shiba Inu was trading at $0.00005258 and Dogecoin at $0.2626 at 9 am, according to data from Coinmarketcap.com.

Top NFT Collections

With a volume of 606.59 SOL, basis.markets is at the top of the NFT (non-fungible token) collections list, at 9 am, as per Coinmarketcap.com. It has grown 29.34 per cent in the last 24 hours.

Psychedelic Apes recorded a volume of 28.98 SOL and witnessed no change in the last 24 hours. PixTapes registered a volume of 27.13 SOL and has fallen by 1.24 per cent in the last 24 hours. Moreover, Solchicks witnessed an 82.39 per cent fall with a volume of 21.34 SOL in the last 24 hours.

Latest Updates

India’s parliamentary panel on finance is scheduled to meet industry experts and associations on challenges and opportunities in crypto finance on 15 November. There is indication that the Indian government may come up with regulations on cryptocurrencies in the upcoming winter session, according to various media reports. This follows Prime Minister Narendra Modi’s warning against misleading advertisements on cryptocurrencies, and Reserve Bank of India governor Shaktikanta Das’s cautious stance last week.

Meanwhile, Bitcoin saw its biggest upgrade in years with Taproot got activated. The upgrade may bring about greater efficiency, and transaction privacy for users.

“The activation of the Taproot upgrade to Bitcoin’s network did generate some enthusiasm, but nothing significant in terms of price. The soft form aims to bring about changes in the long-term, technologically, rather than being a price catalyst,” says Dahake.