Cryptocurrency Updates: Market trading in the red; Bitcoin, Cardano suffered on first day of 2022
Memecoins such as SHIB rose by 1.03% while Dogecoin decreased by 0.52% to trade at Rs 13.66. LUNA rose around 2.55% to Rs 7,076.01.
Most of the cryptocurrencies are trading in the red on the first day of 2022. The global crypto market capitalisation suffered a fall of 0.23% to stand at $2.22 trillion over the previous day. On the other hand, total trading volume experienced a rise of 3.57% to $90.85 billion.
DeFi resulted for 23.34% of the trading volume at $21.21 billion and stablecoins amounted for 65.24% at $71.81 billion. Besides, Bitcoin suffered a dip in its market dominance by 0.17% to 40.18% on Saturday morning. Currently, Bitcoin is trading at $47,034.88.
Under major cryptocurrencies, Bitcoin suffered a downfall of 0.61% to trade at Rs 37,59,371 while Ethereum rose by 1.84% to Rs 2,96,891. Cardano suffered by 1.23% to Rs 105.18 while Avalanche gained by 4.75% to Rs 8,700. In the last 24 hours, Polkadots increased by 0.96% to 2,180.83 and Litecoin fell 0.08 percent at Rs 11,788.96. Tether gained by 0.16% to trade at Rs 79.85.
Memecoins such as SHIB rose by 1.03% while Dogecoin decreased by 0.52% to trade at Rs 13.66. LUNA rose around 2.55% to Rs 7,076.01.
Rapper Eminem “aped” through the Bored Ape Yacht Club (BAYC). Reportedly, he brought one of the Ethereum-based Apes for 123.45 ETH ($452,000) on Thursday night. Since then the singer made the ape his profile picture on Twitter. Apparently, he has so far collected as many as 15 NFTs on OpenSea under the name Shady_Holdings.
The world’s largest crypto exchange in terms of trading volume, Binance is not authorised to operate in Ontario, as per their security regulator. The Ontario Securities Commission (OSC) issued a statement where it notified that Binance is not registered under the securities law in Ontario.
Interestingly, the popular South Korean boy band BTS is planning to produce non-fungible tokens (NFTs) despite receiving several criticisms from the K-pop act’s millions of supporters. Following the announcement made by entertainment giant Hybe planning to launch a range of NFTs based on BTS earlier in 2021, fans took to Twitter to oppose the plan considering the environmental impact of NFTs.