Top cryptocurrency prices today: Bitcoin, Ethereum, BNB, Shiba Inu drop up to 6%

economictimes.indiatimes.com:

The euphoria of Biden's signature over the executive order fizzled after inflation in the world's largest economy shot up to new four decade highs. Barring the dollar-pegged Tether and Avalanche, all of the top digital tokens were trading lower on Friday. Bitcoin and BNB fell 6 per cent each, followed by a 5 per cent fall in Ethereum, Shiba Inu and Cardano each.

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The global cryptocurrency market cap today tumbled down to $1.72 trillion, shedding almost 5 per cent in the last 24 hours. Total cryptocurrency trading volume dropped as much as 9 per cent to $88.94 billion.What's cooking in IndiaIndia, one of the world’s biggest crypto markets by trading volume and users, has seen an exodus of funds from foreign investors.Expert TakeAccording to market cap, the top cryptocurrencies are also running in the red over the past day, said Edul Patel, CEO and Co-founder of Mudrex «The situation is due to the ongoing war crisis between Russia and Ukraine affecting the economy, hiking the inflation rates. We could see a lot of high volatility in the crypto market this month due to the war tension,» he added. Crypto space is showing signs of maturity as the markets are moving in tandem with the global macroeconomic environment, said Kunal Jagdale, Founder, BitsAir Exchange. «Regulatory buzz, legitimacy and movement according to events are a big booster for the sector, which can not be ignored,» he added. «If the inflation remains elevated, we might see more interest from the institutions. Markets, on the other hand, continued to remain volatile and investors should not jump to take any leverage positions. „Global updates