WB rejects El Salvador’s BTC implementation

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Islamabad

The major cryptocurrencies headed lower after the World Bank said it could not assist El Salvador’s bitcoin implementation given environmental and transparency drawbacks.

The overall market capitalisation of cryptocurrencies decreased by 0.6 percent to reach $1.66 trillion as of 13:30 GMT on Thursday.

The price of bitcoin (BTC), the largest cryptocurrency, shed 1.85 percent to reach $38,750. With this decrease in price, the market capitalisation of the BTC has reached $726 billion.

Likewise, ethereum (ETH) price decreased by 3.56 percent to reach $2,378. With this decrease in price, the market capitalisation of ETH has reached $276 billion.

However, XRP gained 0.18 percent to reach $0.846. The market capitalisation of XRP stands at $84.5 billion after this increase. On the other hand, Cardano (ADA) price reached $1.50 with a 2.03 percent fall in its price. —TLTP

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