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Cryptocurrency Prices Today: Bitcoin falls 7%, Ethereum sheds 9%

Bitcoin traded at Rs 29,63,463 and Ethereum at Rs 2,11,277.4

January 22, 2022 / 02:38 PM IST
(Image: Reuters)

(Image: Reuters)

The global cryptocurrency market capitalisation dropped from $1.88 to $ 1.7 trillion during the last 24 hours while the trading volume surged from $66.35 to $126 billion.

The decentralised finance (DeFi) cryptocurrency market cap surged 123.14 percent to $120.97 billion. Value of stablecoins stood at $115 billion, representing nearly seven percent of the market. Stablecoins are tied to an asset - such as the dollar or any other fiat currency or gold - to stabilise their price.

Bitcoin's market dominance remained nearly flat at 40.51 percent and the asset was trading at $36,579 levels today morning.

In rupee terms, Bitcoin fell over seven percent to trade at Rs 29,63,463, while Ethereum fell nine percent to Rs 2,11,277.4.

Meanwhile, Robinhood Markets Inc is rolling out crypto wallets to a 1,000 users, allowing them to send and receive cryptocurrencies through their brokerage accounts, the company said in a blog post. The Menlo Park-based online brokerage had laid out plans to begin testing the wallets last year, with the aim of a broader rollout in 2022.

Also, Brazilian financial services provider Dock said that it will start using cryptos to process international remittances as it expands to Latin America and Europe.

As of 9:05 am, these were the prices of various cryptocurrencies in the Indian market (Data from WazirX)
CryptocurrencyPrice (in Rs)24-hour change (in percent)
Bitcoin29,69,601-5.38
Ethereum2,11,500.0-8.04
Cardano93.33-4.48
Tether80.96+0.02
Solana9,216.92-7.38
Avalanche5,432.43-10.28
Litecoin9,327.74-6.6
XRP52.25-7.23
Axie4,818.05-9.09
 
Moneycontrol News
first published: Jan 22, 2022 09:24 am