Crypto Price Today: Bitcoin holds $19K; XRP, Solana, Polygon gain up to 9%

economictimes.indiatimes.com:

Bitcoin and Ethereum cooled down over inflationary concerns. US Commerce Department report confirming that the world's largest economy was in recession by the traditional definition of two consecutive quarters of negative gross domestic product, hit the sentiments on Wall Street. Top crypto tokens were trading mixed on Friday. Ethereum and Bitcoin dropped marginally, whereas XRP soared 9 per cent. Polkadot gained over 4 per cent, followed by a 2 per cent rise in Polygon and Solana. The global cryptocurrency market cap was trading marginally higher at $942.84 billion, rising less than a per cent in the last 24 hours. However, the total trading volume tumbled as much as 16 per cent, close to $69.93 billion.

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Jobs in crypto, blockchain, and NFTs have grown by 804% in India between April 2020 and April 2022 according to a report by Indeed

What's cooking in IndiaThe Enforcement Directorate (ED) has frozen Rs 21.14 crore of online forex trading app OctaFX and related entities in various bank accounts after carrying out searches at their premises over allegations that the private firm's activity was in contravention of Foreign Exchange Management Act (FEMA). A major portion of the defrauded amount was used to purchase crypto currencies and assets through M/s Zanmai Labs, the parent company of the crypto exchange WazirX, the agency stated.Expert takeBitcoin showed signs of recovery on Thursday by trading higher after a broad sell-off, said Edul Patel, CEO and co-founder, Mudrex. However, it has failed to hold above the $20,000 level in its past two attempts. The volatility has increased in recent weeks, and market participants reacted to the rising inflation and fluctuations in the US dollar, he added.