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- Published: February 3, 2022 18:20
New Delhi: The cryptocurrency market is trading in red on Thursday. The global cryptocurrency market capitalization suffered 0.04% to stand at $1.70 trillion over the 24 hours while the trading volumes surged by 7.54% to $68.72 billion.
The decentralized finance (DeFi) marked 16.55% of the 24-hour cryptocurrency trading volume at $11.37 billion. Stablecoins, on the other hand, constituted 76.59% at $52.63 billion. On Thursday morning, Bitcoin was trading at $36,918.30 with market dominance rising 0.00% to 41.14%.
In terms of rupees, Bitcoin plunged 3.8% to trade at Rs 29,57,067 while Ethereum fell 3.58% to trade at Rs 2,12,677.7.
Apart from these major cryptos, Cardano and Avalanche tumbled 4.43% and 6.23% to trade at Rs 82.76 and Rs 5,478.33 respectively. Polkadot fell 8.88% to Rs 1,469 while Litecoin also plunged 5.54% to Rs 8,610.72 over the last 24 hours. Tether was up 0.24% to Rs 79.94.
Memecoin SHIB went down by 4.29% while Dogecoin also suffered 2.98% to trade at Rs 11.05. Terra (LUNA) decreased 6.66% to trade at Rs 3,860.
Facebook’s plan to indulge itself in the metaverse is reportedly not gladly accepted by investors. Besides, shares of Facebook’s parent company Meta suffered a decline by 20% in aftermarket trading after the release of the 2021 Q4 earnings report.
The report showed static user growth eyeing off its principal products and focusing to create a metaverse – an internet where people use digital avatars to interact, often with virtual and augmented reality headsets.
Notably, Wormhole, an agreement that allows users to move their tokens and NFTs between Solana and Ethereum, confirmed that it suffered a downfall of 120,000 Wrapped Ethereum worth more than $320 million, which is reportedly higher than the $250 million that was suspected at the beginning.