Most Top Coins In Green After Good News From India

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Top coins including Bitcoin and Ethereum rose slightly in the last 24 hours, leading to a 0.4% increase in the global crypto market cap to $2.62 trillion as of 2.54 a.m ET. Other top coins seemed to have taken the cue and were trading in the green.

Bitcoin rose 0.01% to trade at $56,840, CoinMarketCap data showed. Rival coin Ethereum rose 0.16% in the last 24 hours, after a slight dip it experienced Thursday.

Among other cryptos, Cardano rose 6.65% in the last 24 hours and Solana went up 4.18% in the same time period. Tether and XRP were also in the green.

Part of the bullishness could be attributed to the Indian government's decision to regulate cryptos in the country instead of going for an outright ban. A law on this expected to be tabled in the Indian parliament this month.

LUNA surged 10.31% in the last 24 hours to trade at $69.01, beating Avalanche (AVAX) to take the 11th spot in the cryptocurrency market. If the momentum continues it could easily displace Dogecoin as the number 10 cryptos.

Meanwhile, meme crypto Shiba Inu continued to slide. Rival Dogecoin, however, rose slightly in the last 24 hours.

The crypto market is extremely volatile and experts recommend investors not make decisions based on the sudden shift in prices.