The global cryptocurrency market capitalisation dropped to $1.6 trillion from $1.7 trillion during the last 24 hours while the trading volume rose from $126 billion to $130 billion.
The decentralised finance (DeFi) cryptocurrency market cap increased 7.26 percent to $113.19 billion while that of stablecoins rose 0.14 percent to $165 billion. 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 rose to 41.26 percent and the asset was trading at $35,203.60 levels today morning. In rupee terms, Bitcoin fell over 1 percent to trade at Rs 28,95,454 while Ethereum fell 5 percent to Rs 2,00,017.6.
Bitcoin, the world's biggest and best-known cryptocurrency, is now about half its $69,000 peak in November. It was last at $35,049, after falling as low as $34,000 and following a steep fall on January 21.
The currency has had wild price swings and has been hit as risk appetite has fallen on inflation fears and anticipation of a more aggressive pace of interest rate hikes from the US Federal Reserve.
According to experts, "Bitcoin remains in the danger zone and if $37,000 breaks, there is not much support until the $30,000 level."
As of 8:30 am, these were the prices of various cryptocurrencies in the Indian market (Data from WazirX)
| Cryptocurrency | Price (in Rs) | 24-hour change (in percent) |
| Bitcoin | 28,82,449 | -2.18 |
| Ethereum | 1,97,478.2 | -6.32 |
| Cardano | 87.00 | -6.12 |
| Tether | 82.33 | +1.87 |
| Solana | 7,810.02 | -14.03 |
| Avalanche | 4,914.011 | -8.9 |
| Litecoin | 8,750.00 | -6.11 |
| XRP | 48.94 | -5.97 |
| Axie | 4,131.40 | -14.4 |
