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Cryptocurrency Prices Today: Prices of Bitcoin, Ethereum, Solana decline

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“To prohibit all private cryptocurrencies in India” a bill was listed amongst 26 legislations that will be proposed in the winter session of the parliament, according to the Lok Sabha.

Cryptocurrency Prices Today
Cryptocurrency Prices Today

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The global cryptocurrency market capitalisation climbed 4.84 percent to $2.58 trillion on Wednesday. At $56,942.32, Bitcoin dominated the market with a 41.71 percent hold, despite a 1.90 percent fall over the last 24 hours. The total crypto market volume over the last 24 hours stood at $124.40B, registering a 62.53 percent rise.

Ethereum, rose 2.99 percent to $4,273, while Solana fell marginally by 0.76 percent to $217.8. The biggest gainers in the market over the last day were Solar Energy, which rose 40,467 percent, and Bankless DAO, which surged 12.745 percent. Memecoin DOGE also rose by 2.01 percent, while SHIB went down by almost 6.07 percent. Notably, these coins are trading below $0.

In the DeFi space, the total trading volume over the last 24 hours was at $18.48 billion, constituting around 14.86 percent of the total crypto intraday volume. As for stablecoins, the volume was $96.48 billion, around 77.56 percent of the crypto market’s 24-hour volume.

A Bill seeking “to prohibit all private cryptocurrencies in India” was listed among 26 legislations that will be proposed in the winter session of Parliament, according to statement from the Lok Sabha.

This is in stride with the government’s stance to ban cryptocurrencies like Bitcoin for all transactional purposes. Barring a few exceptions to “promote the underlying technology of cryptocurrency and its uses”, the imminent introduction of the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 saw the crypto markets crash with all major currencies falling around 15 percent or more.

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