The global crypto market capitalisation rose 4.75 percent over the last 24 hours to $2.39trillion, while the trading volume surged 14.11 percent to $102.84 billion.
While DeFi ($17.44 billion) accounted for 16.96 percent of the trading volume, stablecoins ($79.65 billion) made up 77.45 percent of the volume. The market dominance of Bitcoin, which is currently trading at $51,103.04 rose 0.29 percent to 40.50 percent.
As for major cryptocurrencies, Bitcoin surged marginally by 4.21 percent to trade at Rs 39,64,949 while Ethereum (Rs 3,18,710.1) increased 1.95 percent. Cardano (Rs 114.01) rose 8.41 percent. Avalanche (Rs 9,379.73) dipped 2.76 percent, Polkadot (Rs 2,250) rose 3.12 percent, and Litecoin (Rs 12,840.66) rose 4.39 percent over the last 24 hours. Tether dipped 1.32 percent to trade at Rs 77.86
Memecoin SHIB increased 10.25 percent, while DOGE surged 3.94 percent to trade at Rs 14.24. Bitcoin is trading at Rs 38,33,811, while LUNA increased around 11.82 percent to trade at Rs 7,669.99.
India’s much-anticipated Cryptocurrency Bill may not be ready for presentation until April 2022, after being deferred from the Winter Session of Parliament, where it was originally listed for discussion. However, the winter session wrapped up on December 22 with no consultation on the Bill taking place.
Bitcoin breached the $50,000 mark on Friday as Christmas cheer swept through the market. In a bid to harbour more solid cryptocurrency regulations in the US, Senator Cynthia Lummis will potentially introduce a Bill to drastically alter the legislative and regulatory landscape for cryptos. Senator Lummins is a member of the Senate Banking Committee and is one of only two sitting senators to hold Bitcoin in her portfolio.
Bakkt co-founder Adam White announced his departure from Bakkt after 3 years. Notably, Bakkt was launched in 2018 with the idea of making institutional crypto adoption a reality.
As of 8:50 am, these were the prices of various cryptocurrencies in the Indian market (Data from WazirX)
| Cryptocurrency | Price (in Rs) | 24-hour change (in %) |
| Bitcoin | 39,64,949 | +4.21 |
| Ethereum | 3,18,710.1 | +1.95 |
| Cardano | 114.01 | +8.41 |
| Tether | 77.86 | -1.32 |
| Solana | 14,650 | +3.12 |
| Avalanche | 9,379.73 | -2.76 |
| Litecoin | 12,840.66 | +4.39 |
| XRP | 76.91 | -0.12 |
| Axie | 8,306.56 | +3.83 |
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