After reaching an all-time high of $66,000 last month, the world’s largest cryptocurrency, Bitcoin, slipped below the $62,000 barrier on Friday, October 5. Over the last 24 hours, the altcoin’s market capitalization has dropped by 0.87 percent. According to CoinMarketCap data at the time of writing, one Bitcoin was worth $61,363 at the time of writing. Bitcoin’s market share is now 42.72 percent, down 0.18 percent from the previous day.
According to the crypto monitoring website, Ethereum or Ether, the second largest crypto coin, has also dropped by 1% in the last 24 hours. Cuts were also made to V Shiba Inu, Solana, Polkadot, and Dogecoin. Shiba Inu even dropped out of the top ten, landing at number 11 after a 5.25 percent drop in the previous 24 hours. On the other hand, Binance Coin and Tether increased modestly.
According to Bloomberg, India’s digital payments giant Paytm said on Friday that if the government makes cryptocurrencies completely legal in the country, it may pursue Bitcoin services. “Bitcoin remains in a regulatory grey area, if not outright ban, in India. Paytm does not accept Bitcoin at the moment. “Clearly, there could be things we could introduce if it ever became totally legal in the country,” said Madhur Deora, the company’s chief financial officer. Paytm is preparing to conduct an initial public offering (IPO) at the time of these remarks (IPO). According to rumours, the bid may boost the company’s value to $20 billion.
Returning to the global crypto market, Phoenix Global was the top gainer in the market on Friday. The price of the altcoin increased by 3,016.20 percent to $0.8844. GreenMoonZilla was ranked second, with a price of $0.00001357 and a gain of 415.50 percent in the last 24 hours. With a 400.29 percent increase in the last day, Ethereum Meta, valued at $0.000005427 per token, climbed to third place.