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Cryptocurrency updates on Nov 9: Bitcoin soars past $67,500 at lifetime high, Ether follows

Cryptocurrency updates on Nov 9: Bitcoin soars past $67,500 at lifetime high, Ether follows

Cryptocurrency updates on Nov 9: Bitcoin soars past $67,500 at lifetime high, Ether follows
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By CNBCTV18.com Nov 9, 2021 9:27:13 AM IST (Published)

Thanks to the ongoing rally, the market cap of the cryptocurrency market surged over $1 trillion in just a month to $3 trillion.

Bitcoin, the world's largest cryptocurrency, surged to a lifetime high of $67,922, continuing the rally that began in October. Thanks to this rally, the market cap of the cryptocurrency market surged over $1 trillion in just a month to $3 trillion.

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Ether, the number 2 cryptocurrency, also notched a lifetime high of $4,800, rising over 2 percent, according to data from CoinGecko. This surge follows the reports that showed the Ethereum network burned more coins than it issued last week.
Meanwhile, the concerns around Ethereum's scalability and high transaction fees continued to drive attention to tokens like Solana and Polkadot. Both the coins have risen over half a percent in the past 24 hours. Solana has rallied over 21 percent in the last week.
Cardano also jumped nearly 5 percent Tuesday morning, rising over 10 percent over the past 7 days. Ripple XRP has also enjoyed a rally of over 15 percent in the last week.
Dogecoin surged nearly 6 percent Tuesday morning, taking the weekly gains to 6 percent. The coin has clocked muted gains in the past few days. Shiba Inu, the 11th largest coin by market cap, also surged 3 percent.
A. Top 10 cryptocurrencies by market cap
CryptocurrencyCurrent market price24-hour change
Binance Coin$6502.40%
USD Coin$0.990.05%
B. Top crypto news updates
Cryptocurrency market cap crosses that of Microsoft, Apple
The market cap of the crypto market topped $3 trillion Monday. If we compare this with the tech companies, the crypto market has left behind the likes of Microsoft ($2.5 trillion) and Apple ($2.4 trillion).
Bitcoin inflows hit record high so far in 2021 
Inflows into bitcoin products and funds have hit a record $6.4 billion so far this year, data from digital asset manager CoinShares showed, as investors bought the cryptocurrency on more widespread government acceptance and positive momentum. Bitcoin inflows totalled $95 million last week, representing the largest inflows of all digital assets, while inflows during an eight-week bull run for the cryptocurrency were $2.8 billion, the data showed.
Centre unlikely to ban Bitcoin, may not make it legal tender either
The Centre is not planning to ban Bitcoin in view of large investments in such instruments by Indians. However, a final call on the contours of the law will be taken shortly, a report said. Continue reading
Govt likely to move cryptocurrency bill in Parliament’s winter session
The government is likely to move the cryptocurrency bill at the start of the winter session of Parliament, sources told CNBC-TV18 on Monday. While the earlier draft had proposed a ban on cryptocurrency, work is on to modify the cryptocurrency bill, they said. Continue reading
Rs 100-crore money laundering racket via crypto scheme busted
The Kerala police on Monday said they have busted a racket involved in money laundering through cryptocurrency deals and arrested four people. Senior Kannur city police officer P P Sadanandan said Muhammed Riyas, C Shafeeque, Munavvarali and Muhammed Shafeeque have been arrested by police on the charge of embezzling crores of rupees from investors in connection with the cryptocurrency deal.
Binance investigates Squid Game themed crypto scam
Leading crypto exchange Binance has announced it would be looking into the alleged rug pull event of the Squid Game cryptocurrency. The scam left investors hanging as the coin plunged from  $2,800 to $0.0007926 within a matter of minutes.
C. Top trending coins
CryptocurrencyCurrent market price24-hour change
D. Top 3 gainers
CryptocurrencyCurrent market price24-hour gain
Alien Shiba Inu$0.02318426%
Zombie Inu$0.00000005493360%
E. Top 3 losers
CryptocurrencyCurrent market price24-hour loss
ZUM TOKEN$0.00003267-95%
(Data is sourced from CoinMarketCap and CoinGecko)
(With inputs from agencies)
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