The global crypto market capitalisation tumbled 0.39 percent over the last 24 hours to $2.37 trillion, while the trading volume dipped 18.10 percent to $84.09 billion.
While DeFi ($14.69 billion) accounted for 17.45 percent of the trading volume, stablecoins ($64.77 billion) made up 77.19 percent of this volume. The market dominance of Bitcoin, which was trading at $50,945.88 rose 0.12 percent to 40.69 percent on Saturday morning.
As for major cryptocurrencies, Bitcoin surged marginally by 1.35 percent to trade at Rs 40,35,861, while Ethereum (Rs 3,19,632) increased 0.2 percent. Cardano (Rs 111.32) fell 0.6 percent. Avalanche (Rs 9,018.99) dipped 3.03 percent, Polkadot (Rs 2,247.3) dipped 0.14 percent, and Litecoin (Rs 12,760.86) decreased 0.64 percent over the last 24 hours. Tether rose 1.07 percent to trade at Rs 79.1Memecoin SHIB fell 1.5 percent, while DOGE surged 6.46 percent to trade at Rs 15.12. Bitcoin is trading at Rs 40,35,861, while LUNA increased around 3.79 percent to trade at Rs 7,629.21.
Turkey’s President Recep Tayyip Erdoğan will soon send a crypto law to the country’s parliament, without any delay. Bitcoin and other cryptocurrencies have grown increasingly popular in Turkey, where inflation has soared and the country’s currency, the lira, hit record lows against the US dollar earlier this year. Many consumers have seen crypto as a way to circumvent these issues.
In what can be some reason for market cheer in the festive season, the total crypto market capitalisation has risen over 10 percent in the last week to inch past $2.5 trillion for the first time since December 8, according to data from CoinGecko.As of 10:50 am, these were the prices of various cryptocurrencies in the Indian market (Data from WazirX)
|Cryptocurrency||Price (in Rs)||24-hour change (in percent)|