New Delhi: The global cryptocurrency market capitalisation suffered a downfall of 0.39% to $2.37 trillion over the last 24 hours whereas the trading volume dipped to 18.10% to $84.09 billion.
Meanwhile, DeFi ($14.69 billion) registered 17.45% of the trading volume, stablecoins ($64.77 billion) made up 77.19% of this volume. Bitcoin was trading at $50,945.88 with a market dominance rising by 0.12% to 40.69% on Saturday morning.
Major cryptocurrencies such as Bitcoin surged marginally by 1.35% to trade at Rs 40,35,861. On the other hand, Ethereum (Rs 3,19,632) increased by 0.2%. Cardano (Rs 111.32) and Avalanche (Rs 9,018.99) suffered a fall of 0.6% and 3.03% respectively. Polkadot (Rs 2,247.3) and Litecoin (Rs 12,760.86) also dipped by 0.14% and 0.64% respectively over the last 24 hours. Tether increased by 1.07% to trade at Rs 79.1.
Memecoin SHIB experienced a fall of 1.5% while DOGE increased by 6.46% to trade at Rs 15.12. Bitcoin is trading at Rs 40,35,861. LUNA increased around 3.79% to trade at Rs 7,629.21. A news report stated that Salvadorans are tremendously losing their Bitcoin from their Chivo wallets, according to a Twitter user who was tweeting under the pseudonym El Comisonado. More than 50 such examples have been collected so far in this regard.
Soon Turkey’s President Recep Tayyip Erdoğan will be sending a crypto law to the country’s parliament, without any delay. Reportedly, Bitcoin and other cryptocurrenciies have grown immensely popular in Turkey, where inflation has raised high and the country’s currency, Iira has registered record lows against the US dollar earlier in 2021. Besides, many consumers have considered crypto a way to evade these issues.
In this market season, the crypto market capitalisation has increased over 10 percent in the last week to surge marginally over $2.5 trillion for the first time since December 8, as per data by CoinGecko.
