Cryptocurrency news today: Bitcoin, Ethereum rise with Ukraine legalising crypto
On Thursday, Bitcoin was trading at $41,118.45, breaching the $40,000-mark with the market dominance of 0.15% up to stand at 42.77%.
New Delhi: The global cryptocurrency market capitalisation surged 3.85% over the last 24 hours to stand at $1.83 trillion. On the other hand, trading volumes increased 42.02% to $105.42 billion over the same period of time.
The total volume of the decentralised finance (DeFi) space stood at $14.37 billion, around 13.63% of the overall 24-hour crypto trading volume. The total volume in stablecoins was at $89.15 billion, making up 84.57% of the 24-hour cryptocurrency trading volume.
On Thursday, Bitcoin was trading at $41,118.45, breaching the $40,000-mark with the market dominance of 0.15% up to stand at 42.77%. In terms of rupees, Bitcoin increased 2.13% to trade at Rs 31,93,968 while Ethereum rose 3.44% to Rs 2,15,659.
Apart from these, other major cryptocurrencies including Cardano were up by 1.37% to trade at Rs 65.02 and Avalanche rose 5.23% to Rs 5,886.90. Over the last 24 hours, Polkadot rose by 3.17% to Rs 1,490 and Litecoin plunged 0.59% to Rs 8,590. Tether was down by 0.6% to Rs 77.85.
Memecoin SHIB surged by 1.38%, trading at Rs 0.0017 while Dogecoin increased by 0.95% to trade at Rs 9.12. Terra (LUNA) plunged 3.37% to Rs 6,840, while Algorand (ALGO) dropped 0.92% to Rs 56.92.
Meanwhile, amidst the war in Ukraine, President Volodymyr Zelensky has officially signed a law “On Virtual Assets” focussing on legalising cryptocurrency assets in the war-torn country. The law concentrates on what is considered a crypto asset and considers the National Bank of Ukraine and its National Commission on Securities and Stock Market as crypto regulators. Besides, it also establishes other regulations surrounding who can offer cryptocurrencies and how they must be registered in Ukraine.
Earlier in September, an old version of the bill was proposed, however, Zelensky requested changes. The Ukrainian government first introduced the reworked bill on February 17. Zelensky’s sign today makes it official in the European Union. Deputy Minister of Digital Transformation Alex Bornyakov tweeted that the new crypto law will play a “vital role in Ukraine’s defence process.”