Bitcoin, ether, dogecoin, Solana, other crypto prices fall today. Check latest rates
In cryptocurrencies, Bitcoin price today went below $37,000 after breaching the the $39,000 level for the first time in two weeks. The world's most popular and largest cryptocurrency by market cap declined over 4% at $36,861. Meanwhile, the global cryptocurrency market capitalisation today slipped over 4% to $1.79 trillion, as per CoinGecko, dragged by the fall in crypto prices today.
Similarly, Ether, the coin linked to ethereum blockchain and the second largest cryptocurrency, plunged more than 3% to $2,677, as per CoinDesk. Similarly, Binance Coin was also down 4% at $366.
Dogecoin price also plunged nearly 4% to $0.13 whereas Shiba Inu was trading more than 5% lower at $0.000021 The performance of other cryptos also plummeted as XRP, Stellar, Avalanche, Cardano, Solana, Polygon, Terra, prices were trading with cuts in the range of 4-9% over the last 24 hours.
Bitcoin has slipped more than 20% since the start of this year (year-to-date or YTD), whereas it has nearly halved from its all-time high of near $69,000 hit in November 2021. Expectations of tightening monetary policy helped spur a bearish downturn last month in cryptocurrency assets.
In another, news India's Finance Secretary on Wednesday said that cryptos will never become a legal tender, only the digital rupee issued by the Reserve Bank of India (RBI) would be the legal tender. "Digital rupee will be backed by RBI which will never default. Rest all are not legal tender, will not, will never become legal tender. Bitcoin, Ethereum, or any picture of Actor become NFT will never become a legal tender," he said.
(With inputs from agencies)
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