Cryptocurrency Prices Today March 9: Bitcoin up, Polkadot and Ethereum biggest gainers

Bitcoin (Representative image)

Cryptocurrencies traded in the green early on March 9. The global cryptocurrency market cap stood at $1.76 trillion, a 2.54 percent increase over the last day. The total crypto market volume over the last 24 hours is $78.92 billion, a 7.85 percent decrease.

The total volume in DeFi is currently $13.31 billion, 16.86 percent of the total crypto market 24-hour volume. The volume of all stable coins is now $65.93 billion, which is 83.54 percent of the total crypto market 24-hour volume.

Bitcoin's price is currently Rs 31.09 lakh, with a dominance of 42.31 percent. This was a 0.04 percent decrease over the day, as per CoinMarketCap data.

In India, finance minister Nirmala Sitharaman on March 8 clarified that the government will state its position on cryptocurrencies after completing the ongoing consultation process.

"The consultations are on, you are welcome to participate in it. After the consultation process gets duly completed, the ministry would sit and probably mull over it, which is required because we need the executive to be sure that they are not crossing any legal requirements. After which we will come out saying what our position on it is. I know you have sort of led me to say are we regulating it or are we banning it. I am not getting into it now. But after the consultation, yes, we will be talking about it. And I am glad you welcome the taxation," Sitharaman said.

Meanwhile, United States president Joe Biden is expected to sign a long-awaited executive order this week directing the Justice Department, Treasury and other agencies to study the legal and economic ramifications of creating a US central bank digital currency, a source told Reuters.

The White House last year said it was considering a wide-ranging oversight of the cryptocurrency market – including an executive order – to deal with growing threat of ransomware and other cybercrimes.

Biden's order sets a 180-day deadline for a series of reports on "the future of money" and the role that cryptocurrencies will play in the evolving landscape.

As of 8.00 am on March 9, these are the prices of largest cryptocurrencies (data from WazirX):