Cryptocurrency price today: Market trading in red; BTH, ETH, Cardano suffer downfall
Bitcoin has been experiencing a plunge in market dominance and is currently at its lowest level in years.
New Delhi: The global market capitalisation substantially suffered by 6.92%, standing at $2.07 trillion over the last 24 hours. On the other hand, the total trading volume increased by 12.25% to $116.37 billion.
DeFi witnessed 18.35% of the trading volume at $21.35 billion while stablecoins made up 79.47% at $92.48 billion. Bitcoin experienced a surge in the market dominance of 0.30% to mark 39.66% on Thursday morning. Currently, the world’s largest cryptocurrency is trading at $43,417.67.
Under the major cryptocurrencies, Bitcoin plunged 4.97% to trade at Rs 35,02,996, and Ethereum fell by 6.55% to stand Rs 2,82,500. Cardano and Avalanche suffered by 6.36% and 7.58% to stand at Rs 99.02 and Rs 7,731 respectively. Over the last 24 hours, Polkadot fell by 9.4% to Rs 2,111.1 and Litecoin dipped by 7.83% to Rs 10,858.01. However, Tether rose 1.12% to trade at Rs 80.43.
Meanwhile memecoin SHIB suffered 7.59% and Dogecoin decreased by 6.74% to trade at Rs 12.62. LUNA dipped around 8.94% to Rs 6,142.2.
Bitcoin has been experiencing a plunge in market dominance and is currently at its lowest level in years. In 2018, Bitcoin saw the last major dip when it fell to 33%.
In November 2021, Quentin Tarantino informed about the planned launch of NFTs based on his 1994 film ‘Pulp Fiction.’
Meanwhile, film studio Miramax lodged a suit against Tarantino, stating that he did not have permission to sell such digital items. Recently, it has been reported that Tarantino plans to sell the NFTs anyway.
Electric Capital, a crypto investment firm in a new report stated that several protocol ecosystems are passing the largest developer ecosystem out there, Ethereum. “Polkadot, Solana, NEAR, [Binance Smart Chain], Avalanche, and Terra have faster initial ecosystem growth than Ethereum,” the report stated.