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The crypto market sees an improved mood today, with most assets registering impressive gains. Ethereum, the 2nd-largest crypto by value, gained more than 6% to $1,160.33.

Top cryptocurrencies witnessed a sharp uptick within the past day amidst global risk-on sentiments. Avalanche, Ripple, and Polygon lead the upswings on their charts. Polygon recorded the highest jump among the top 20 cryptocurrencies, surging approximately 24% to $0.6122. Avalanche surged 17.53% to $19.62.

Also, XRP erased its seven-day losses with a 12.45% surge to $0.3648. Solana gained 10.87% to $39.11. ETH, the leading alternative token by market cap, gained 6.86% to $1.160.32. Moreover, Cardano joined the upside party by surging 5.95% to explore the value area at $0.4984. Dogecoin and Polkadot gained 4.42% and 6.66%, respectively.

The world’s largest crypto, BTC, also surged 4.17% within the previous 24 hours to topple the $21K value area. BTC traded at $21,253 as it took its seven-day gains to 2.56%. BNB gained 6.79% to navigated price levels of $233.42.

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The overall crypto market cap reflected the optimism in the marketplace. The cumulative value of digital currencies recorded a 4.57% surge over the past day to $942.31 billion. On the other hand, overall crypto trading volume declined by 7.46% to $61.55 billion.

India Market News

PTI reports suggest that the Officers’ committee advised the GST Council to alter the taxability decision on crypto and other digital assets. Meanwhile, the Fitment Committee’s article to the GST commented on the impending law to regulate crypto. And it remained crucial to identify relevant supplies related to the crypto space, apart from clarifications on whether they’re services or goods. Meanwhile, the committee officers, consisting of states and the Center, trusted a thorough study of the crypto ecosystem issue was essential.

Global Updates

Binance, the leading crypto exchange globally in trading volumes, revealed partnering with soccer star Cristiano Ronaldo to promote NFTs. The crypto exchange announced the deal on Thursday. The collaboration will see the footballer and the trading platform creating several NFT collections on Binance’s platform. Binance confirmed introducing the first of these non-fungible token collections later in 2022.

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Franklin Smith

By Franklin Smith

Franklin Smith is a Senior Crypto Journalist and Analyst at Herald Sheets, with over seven years of experience in the cryptocurrency and blockchain industry. Known for his insightful articles and in-depth analysis, he is an influential voice providing valuable insights to investors and enthusiasts. Franklin holds a bachelor's degree in Journalism and Communications from the University of California, Berkeley.