Major cryptocurrencies traded in the red early on May 17 as the global crypto market cap dropped a 1.79 percent to $1.28 trillion over the last day. On the other hand, the total crypto market volume over the last 24 hours jumped 14.33 percent to $87.72 billion.
The total volume in DeFi stood at $9.17 billion, 10.46 percent of the total crypto market 24-hour volume. The volume of all stable coins was at $78.67 billion, which is 89.68 percent of the total crypto market 24-hour volume.
Bitcoin traded at Rs 24.38. lakh. The dominance of the world's largest cryptocurrency increased marginally by 0.02 percent to 44.38 percent over the last day, according to CoinMarketCap data.
In other news, cryptocurrency exchange FTX's founder has said that Bitcoin has no future as a payments network and criticized the digital currency for its inefficiency and high environmental costs, the Financial Times reported on Monday.
"The Bitcoin network is not a payments network and it is not a scaling network," the report quoted FTX founder and Chief Executive Officer Sam Bankman-Fried as saying.
Bitcoin, the world's largest cryptocurrency, touched its lowest since December 2020 last week after the collapse of stablecoin TerraUSD.
As of 8.15 am on May 17, these are the prices of largest cryptocurrencies (data from WazirX):
| NAME | PRICE (INR) | 24H % |
| Bitcoin | 24,38,280 | -1.39% |
| Ethereum | 1,65,757 | -2.11% |
| Tether | 81.20 | 0.01% |
| Cardano | 45.9000 | -4.37% |
| Binance Coin | 24,387 | -0.86% |
| XRP | 34.7200 | -1.42% |
| Polkadot | 888.99 | -3.05% |
| Dogecoin | 7.2095 | -1.51% |
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| 1W returns0.67% |
| 1W returns0.13% |
| 1W returns-0.35% |
| 1W returns-0.89% |
| 1W returns-3.03% |
| 1W returns-3.74% |
| 1W returns-6.86% |
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