The global crypto market capitalisation surged 2.32 percent over the last 24 hours to stand at $2.66 trillion. Bitcoin, currently trading at $58,449 also saw a fall in its market dominance by about 0.34 percent over the last day to stand at 41.55 percent.
The total cryptocurrency trading volume over the last 24-hours was $141.3billion, increasing by 3.68 percent. While DeFi ($20.07 billion) accounted for 14.19 percent of the total crypto volume, stablecoins ($106.5 billion) made for 75.36 percent of the crypto market's 24-hour market volume.
As for major cryptocurrencies, Bitcoin rose by 1.01 percent, in addition to Ethereum ($4,467), which surged by 3.72 percent. Binance Coin ($651) also rose by around 8.3 percent. On the other hand, Solana ($207), Cardano ($1.65), and Polkadot ($38.88) fell by 1.22 percent, 0.86 percent, and 0.21 percent.
More than half of the people surveyed in India are against legalising cryptocurrencies, according to an opinion poll published on Wednesday, just as the government proposed a law to regulate their use and to create an official digital coin.The survey showed 54% don't want the government to legalise cryptocurrencies but instead to tax them like a digital asset held in a foreign country, pollster LocalCircles said. These findings were based on a survey of 56,000 people in the last 15 days. Many government sources revealed to various media outlets that a blanket ban is unlikely, however, a regulatory mechanism will be put in place, along with giving investors a solid window to exit cryptocurrencies, if need be.