Cryptocurrency Prices Today: Global trading volume skyrockets over 100,000%, Bitcoin gains 1.53%
The global cryptocurrency market capitalisation rose 1.55 percent over the last 24 hours to $1.73 trillion while the trading volume over the same period skyrocketed by 1,06,435.67 percent to $79.22 trillion.
While decentralised finance (DeFi) accounted for 0.01 percent of the 24-hour cryptocurrency trading volume at $8.57 billion, stablecoins made up around 99.98 percent of the 24-hour trading volume at $79.20 trillion. Bitcoin's market dominance dipped 0.07 percent to 41.75 percent and the currency was trading at $38,033.97 today.
In rupee terms, Bitcoin rose 1.53 percent to trade at Rs 30,54,494 while Ethereum increased 2.28 percent to Rs 2,07,199.2.
Cardano rose 1.81 percent to Rs 85.48 and Avalanche 4.98 percent to Rs 5,648. Polkadot rose 2.37 percent to Rs 1,494.41 and Litecoin 0.96 percent to Rs 8,802.61 over the last 24 hours. Tether increased 0.04 percent to Rs 80.3
Memecoin SHIB increased 1.82 percent while Dogecoin rose 0.59 percent to trade at Rs 11.43. Terra (LUNA) dipped by 1.25 percent to Rs 4,003.
A controversial proposed rule that would enforce know-your-customer rules on unhosted or self-hosted crypto wallets may again be under consideration by the US federal government.
The rule was first proposed at the end of 2020 by the Financial Crimes Enforcement Network, the U.S. money-laundering watchdog. If enacted, crypto exchanges would be required to collect names and home addresses, among other personal details, from anyone hoping to transfer cryptocurrencies to their own private wallets.
Separately, the New York State Department of Environmental Conservation has delayed its decision on whether it will allow Greenidge Generation to continue to use its power plant in the town of Dresden for bitcoin mining, Bloomberg
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