Top Cryptocurrency Prices Today January 3: Major cryptos trade in green; Ether up 2%, Ripple top gainer
Major cryptocurrencies traded in the green early on January 3 as the global crypto market cap rose 1.25 per cent to $805.12 billion, over the last day. The total crypto market volume over the last 24 hours is $23.72 billion, which makes a 36.27 percent increase.
The total volume in DeFi is currently $1.70 billion, which is 7.18 percent of the total crypto market 24-hour volume. The volume of all stable coins is now $21.24 billion, which is 89.56 per cent of the total crypto market 24-hour volume.
The price of Bitcoin, the world's largest cryptocurrency, hovered around Rs 14.33 lakh, with its dominance currently at 39.87 percent, which is a decrease of 0.28 percent over the day, according to Coinmarketcap.
Also Read | Delhi crypto fraud: Investors duped of Rs 500 crore, were assured 200% returns: Report
In other news, contrary to its claims of inflation-hedging benefits, the value of crypto tokens continued to fall as inflation rose, the Reserve Bank of India’s (RBI) Financial Stability report released on December 29 said, coming just days after Governor Shaktikanta Das noted that allowing growth of private crypto could lead to the next financial crisis.
The report highlighted that the volatility of such tokens and possible risks of spillovers into the formal financial system require a common regulatory approach, especially at an international level. Read the full report here.
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