Crypto Price Today: Polygon soars 24%, Avalanche 18%; Ethereum, Bitcoin gain up to 7%

New Delhi: Top cryptocurrencies saw a sharp jump in the last 24 hours amid a risk on sentiment globally, with Polygon, Avalanche, XRP and Solana leading the returns chart.

The biggest jump among top 20 cryptos — in terms of market value — was seen in Polygon, which rallied 23.81 per cent to $0.6122. Avalanche advanced 17.53 per cent to $19.62.

XRP surged 12.45 per cent to $0.3648 and wiped off its seven-day losses. Solana climbed 10.87 per cent to $39.11.

Ethereum, the second largest cryptocurrency, jumped 6.86 per cent to $1,160.32. Ethereum has advanced 6 per cent in the last seven trading sessions.

Cardano added 5.95 per cent to $0.4984. Polkadot and Dogecoin added 6.66 per cent and 4.42 per cent, respectively.

The largest crypto Bitcoin also climbed 4.17 per cent in the last 24 hours to top $21,000 level at $21,252, taking its one week gains to 2.56 per cent. BNB rose 6.79 per cent to $233.42.

The global cryptocurrency market cap stood at $942.31 billion mark, rising 4.57 per cent in the last 24 hours. However, the total cryptocurrency trading volume dropped 7.46 per cent to $61.55 billion.

India news

The officers committee on GST has suggested the GST Council to defer a decision on taxability of cryptocurrency and other virtual digital assets, PTI reported.

The Fitment Committee in its report to the GST Council has suggested that a law on regulation of cryptocurrency is awaited and it would be essential to identify all relevant supplies associated with the crypto-ecosystem, besides classification on whether they are goods or services.

The committee of officers comprising both Centre and states, referred to as Fitment Committee, felt that a deeper study was needed on the issues involved in the crypto ecosystem.

Global news

Binance, the world’s biggest cryptocurrency exchange by trading volumes, said on Thursday it has signed a partnership with Cristiano Ronaldo for the promotion of non-fungible tokens (NFTs). As part of the multi-year agreement, the Portuguese soccer star and Binance will create a series of NFT collections for sale on the company’s platform, the cryptocurrency exchange said, adding that the first collection would be released later this year.