New Delhi: After the Federal Reserve's statements, the appetite for riskier assets strengthened, putting the bitcoin market back in the green on Thursday.

With the exception of dollar-pegged stablecoins, all of the top ten digital tokens were trading higher during morning session.In terms of key cryptocurrencies, Bitcoin gained by 1.5 percent to Rs 38,83,884, while Ethereum (Rs 3,20,000) also increased by 4.5 percent. The value of Cardano (Rs 103.5) increased by 3.44 percent. Over the last 24 hours, Avalanche (Rs 8,356.4) has risen by 31.59 percent, Polkadot (Rs 2,148) has risen by 3.21 percent, and Litecoin (Rs 12,162.92) has risen by 0.84 percent. In comparison to the previous day, the worldwide crypto market cap increased by more than 3 percent to USD2.37 trillion. The whole crypto market volume, on the other hand, increased by more than 25 percent to USD131 trillion.

Amid fears and confusion about government initiatives to regulate crypto assets, cryptocurrency exchanges are expected to consolidate. Several people familiar with the conversations informed ET that several exchanges have launched exploratory talks with other Indian exchanges and overseas entities.

According to multiple media sites, India's much-anticipated cryptocurrency regulatory bill would most likely not be submitted to Parliament until the 2022 session, which begins in late January or early February. With no Cabinet approval this week, the bill's chances of being submitted in this session of parliament, which ends on December 23, are dwindling. The next Cabinet meeting, in particular, is set for December 22.

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