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Cryptocurrency news today: Market trading in red as BTH, ETH suffer downfall

The global crypto market capitalisation suffered 3.60% to stand at $2.18 trillion over the last 24 hours while the total trading volume underwent a fall by 6.79% to $95.77 billion.

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New Delhi:  The global crypto market capitalisation suffered 3.60% to stand at $2.18 trillion over the last 24 hours while the total trading volume underwent a fall by 6.79% to $95.77 billion.

On the other hand, DeFi ($15.16 billion) resulted in 15.83%of the trading volume. Stablecoins ($75.16 billion) accounted for 78.48%. Bitcoin’s market dominance surged by 0.29% to reach 40.45% on Thursday morning. Currently, Bitcoin is trading at $46,560.09.

Under major cryptocurrencies, Bitcoin fell by 2.46% to trade at Rs 37,49,173, while Ethereum fell by 4.48% to stand at Rs 2,93,527.4. Cardano also declined by 7.25% to Rs 105.4. Besides, Avalanche, Polkadot, and Litecoin dipped by 8.77%, 7.53%, and 1.04% to stand at Rs 8,048, Rs 2,137.04, and 11,725.33 respectively, over the last 24 hours. Meanwhile, Tether surged by 0.12% to trade at Rs80.18.

Memecoins

Memecoins Shiba Inu decreased by 5.61% and Dogecoin fell by 4.29% to stand at Rs 13.56. LUNA fell around 6.39% to Rs 6,579.55.

The co-founder and operation chief of the Ethereum-based metaverse game The Sandbox Sebastien Borget, considered the metaverse as a digital nation. He stated that it is validating to witness that his team’s idea for an online game that is community-owned and user-customisable to be embraced by a huge number of people.

“Every day, the map is different. There are new landowners and new communities that come and decide to build things next to each other. I feel like it’s a digital nation—living and breathing. That’s why it’s exciting. It’s culturally rich, it’s global, and it’s accessible,” he continued.

Crypto trading

According to blockchain data site Glassnode, there are around 71,364,788 addresses possessing some amount of Ethereum.

On the other hand, a white-hat hacker secured a bug bounty. A person named Leon Spacewalker on Twitter helped Polygon avert a multibillion-dollar disaster, in early December. He informed about an exploit in a critical Polygon smart contract that held over nine billion MATIC tokens on December 3 which at that time was priced $20.2 billion. The main developers’ team fixed it By December 5. Reportedly, Spacewalker won a $2.2 million bug bounty.

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