Crypto Price Today: Meme coins trade in the green; Solana, Polkadot shed up to 8%

economictimes.indiatimes.com:

Bitcoin barely held above $20,000 levels while the pain in altcoins was severe. Fears of recession in the global economy and rising inflationary pressure are denting the sentiment for the digital token market. Barring Unus Sed Leo, which gained about 4 per cent, and memecoins Dogecoin and Shiba Inu, all of the other crypto tokens were trading in the red on Thursday.

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Among the losers, Solana plunged about 8 per cent, while Polkadot tumbled more than 6 per cent. Ethereum and BNB dropped 5 per cent each, and Bitcoin was also in the red. The global cryptocurrency market cap was trading at the $892.72 billion mark, dropping more than 2 per cent in the last 24 hours. However, the total cryptocurrency trading volume zoomed more than 11 per cent to $62.65 billion.What's cooking in India Cryptocurrencies that were the flavour of the season till about last year have seen a sudden fall on every matrix for the exchanges- trading volumes, value and profitability- as a crypto winter sets in following a big drop in prices in the last few months. The sudden shift in market sentiment from exuberance to fear has led to exchanges resorting to a combination of short- and long-term measures to manage working capital. Influencers, rather than celebrities, were behind more than 92 per cent of crypto-related advertisement violations in India between January 2022 and May 2022, according to data released by the Advertising Standards Council of India. Banking giant Citigroup has made a series of comments on mortgages backed by cryptocurrencies and the rise of digital real estate