The total cryptocurrency trading volume over the last 24 hours was $121.58 billion, falling substantially by 40.16 percent. While DeFi ($17.86 billion) accounted for 14.69 percent of the total crypto volume, stablecoins ($94.49 billion) made for 77.72 percent of the crypto market’s 24-hour market volume.
Over the last 24 hours, the global crypto market capitalization has dropped 1.07 percent to $2.27 trillion. Bitcoin, which is currently trading at $49,084.94, has seen a 0.42 percent increase in market dominance in the last day, putting it at 40.72 percent.
The total volume of cryptocurrency trading in the last 24 hours was $121.58 billion, a drop of 40.16 percent. Stablecoins ($94.49 billion) accounted for 77.72 percent of the crypto market’s 24-hour market volume, while DeFi ($17.86 billion) accounted for 14.69 percent of total crypto volume.
In terms of major cryptocurrencies, Bitcoin fell 0.53 percent globally, while Ethereum ($4,141.51) rose 0.55 percent. Binance Coin ($545.71) has also lost 3.11 percent of its value. Over the last 24 hours, Solana ($192.74) has lost 1.55 percent, Cardano ($1.37) has lost 1.85 percent, Avalanche ($83.77) has lost 7.32 percent, Polkadot ($27.06) has lost 4.17 percent, and Litecoin ($153.51) has lost 4.99 percent.
SHIB, a Memecoin, fell by around 0.90 percent, while DOGE fell by 1.53 percent.
The price of bitcoin is currently Rs 40,54,870.
The government clarified that it is not looking to ban cryptocurrencies, but rather to regulate them as ‘assets,’ putting an end to rumours that they would be banned in India. According to reports, the Securities and Exchange Board of India will regulate all Indian cryptocurrency exchanges (SEBI). Citizens will also be prohibited from holding crypto assets on foreign exchanges or in private wallets, according to the cabinet note.
On Saturday, Bitcoin, like other cryptocurrencies, saw a significant drop in market value, indicating that risk aversion is sweeping financial markets. According to tracker CoinGecko, the overall crypto sector has lost about a fifth of its value, falling to $2.2 trillion.
These were the prices of various cryptocurrencies as of 8:15 a.m. today (Data from WazirX)
PRICE OF CRYPTOCURRENCY (IN INR)
CHANGE EVERY 24 HOURS (IN PERCENT)
Bitcoin 40,54,870 -0.21
Ethereum 3,44,899.7 +1.47
Cardano 113.87 -1.14
Tether 82.79 +0.13
Solana 16,073 -1.92
Avalanche 6,957.4 -7.69
Litecoin 12,786 -5.05
XRP 66.24 -3.36
Axie 8,808.1 -8.51
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