Bitcoin, ether rise while dogecoin, Shiba Inu, XRP slip. Check cryptocurrency prices today

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In cryptocurrencies, Bitcoin price today continued to trade above the $41,000 level. The world's largest and most popular cryptocurrency rose about 0.6% to $41,629. The global crypto market’s value today gained over a per cent in the past 24 hours to $2.03 trillion, according to pricing from CoinGecko.

Bitcoin has been struggling along with risk assets in recent months. It’s largely traded in a range of $35,000 to $45,000 this year as the Federal Reserve started hiking interest rates amid stubbornly high inflation.

On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency also gained more than a percent to $3,093. Meanwhile, dogecoin price today was trading almost flat at $0.14 whereas Shiba Inu plunged nearly a per cent to $0.000025.

Other digital tokens were mixed as XRP, Avalanche, Solana, Stellar, Polygon were trading with minor cuts whereas Polkadot, Cardano, Uniswap, Polygon, Terra, Litecoin rose slightly over the last 24 hours.

Countries such as Russia and Iran may eventually use cryptocurrency mining to evade sanctions, the International Monetary Fund warned in a report. There’s a risk that sanctioned nations will leverage their energy resources, which can’t be exported, to power mining, an energy-intensive process of validating coin transactions, the IMF said.

The US rolled out new sanctions on Wednesday against more than 40 individuals and entities accused of evading the ongoing wave of penalties imposed on Russia as punishment for invading Ukraine. The sanctions include the first set of penalties against cryptocurrency mining firms in relation to the war.

(With inputs from agencies)