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Bitcoin and all major top cryptocurrencies were trading in red at 3:45 pm on Saturday, June 12. In line with its recent trends, overall global crypto market was down by over 15 per cent on the weekend, showed CoinSwitch Kuber data. World number one cryptocurrency Bitcoin was down by 6% and was trading at Rs 27,28,815 after hitting day's high of Rs 29,00,208.
Ethereum, ranked at 2nd position globally, was trading at Rs1,84,949, down 3.35%. It reached a day high of Rs 1,90,490 and slid up to Rs 1,75,060.
Ranked 3, Tether continued to trade in limited space and was marginally up by 0.05%. Market price of Tether was RS 77.4716. Meme coins Dogecoin, Shiba Inu were down over 5 % and 10%. Dogecoin was trading at Rs 23.869532 and Shiba Inu at Rs 0.000462. Other coins like Polka Dot and Binanace coin were trading down 9.94% and 6.79% respectively. Matic was also trading over 10 per cent lower on Saturday.
Meanwhile in the latest news related to cryptocurrency, China`s crackdown on cryptocurrencies spread to the country`s southwest with a campaign against misuse of electricity by bitcoin miners in Yunnan province, Reuters quoted local media reported saying this on Saturday.
Earlier, after it was widely reported that ED has served a show cause notice to WazirX and its directors over cryptocurrency transactions worth Rs. 2,790.74 crore, India's largest cryptocurrency Exchange refuted any such notice. " WazirX is yet to receive any show cause notice from the Enforcement Directorate as mentioned in today's media reports. WazirX is in compliance with all applicable laws. We go beyond our legal obligations by following Know Your Customer (KYC) and should we receive a formal communication or notice from the ED, we'll fully cooperate in the investigation. Please note: Your funds are absolutely safe on WazirX ," tweeted the crypto exchange
In India, despite the Supreme Court strucking down RBI 2018 circular that barred banks and financial institutions from engaging in crypto dealings, uncertainty prevails as far as crypto trading in country is concerned.