Cryptocurrency prices today: Bitcoin, Ethereum rise; Tether falls

The global crypto market capitalisation fell 0.38% over the last 24 hours to $2.19 trillion. Bitcoin, currently at $46,919.50, saw its market dominance rise 0.30% over the last day to 40.55%.

The total cryptocurrency trading volume over the last 24 hours was $95.42 billion, surging 21.76%. While DeFi ($14.35 billion) accounted for 15.04% of the volume, stablecoins ($75.60 billion) made up 79.23% of the volume.

As for major cryptocurrencies globally, Bitcoin rose marginally by 0.06% to trade at Rs 37,33,000 while Ethereum (Rs 3,12,527) increased 0.48%. Cardano (Rs 98.37) fell 0.63%. Avalanche (Rs 8,949.41) rose 4.04%, Polkadot (Rs 1,900.13) fell 4.47%, and Litecoin (Rs 12,093.81.59) declined 1.94% over the last 24 hours. Tether fell 0.64%.

Memecoin SHIB increased 2.25 percent while DOGE declined 1.33% to trade at Rs 13.33. Bitcoin is currently trading at Rs 37,33,000 while LUNA declined around 3.71% to trade at Rs 6,430.

According to a report by the National Bureau of Economic Research, a fairly small number of “rich” wallets control more than a quarter of the circulating bitcoin supply. The top 1,000 investors control about three million or 16% of all circulating Bitcoin, and the top 10,000 investors own around five million or 27% of Bitcoin.

The year 2021 saw inflows of about $30 billion in cryptocurrencies, substantially more than all the investments made by venture funds across the world in the previous years in this decade-old technology. The second-biggest year for crypto investment was 2018 when $8 billion was invested in this digital currency.

As of 8:12 am, these were the prices of various cryptocurrencies in the Indian market (Data from WazirX)

Bitcoin 37,33,000 +0.06
Ethereum 3,12,527 +0.48
Cardano 98.37 -0.63
Tether 79.6 -0.64
Solana 13,663.19 -4.74
Avalanche 8,949.41 + 4.04
Litecoin 12,093.81.59 -1.94
XRP 68.27 -3.79
Axie 7,513.06 -0.58

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