Cryptocurrency Prices today on December 8: Polkadot, Terra, DOGE surge

The global crypto market capitalisation fell by 0.31 percent over the last 24 hours to stand at $2.36 trillion. Bitcoin, currently trading at $50,664.45 saw a fall in its market dominance by about 0.09 percent over the last day to stand at 40.49 percent.

The total cryptocurrency trading volume over the last 24 hours was $109.05 billion, declining by 20.78 percent. While DeFi ($15.98  billion) accounted for 14.65 percent of the total crypto volume, stablecoins ($85.69  billion) made for 78.57 percent of the crypto market's 24-hour market volume.

As for major cryptocurrencies globally, Bitcoin declined marginally by 0.29 percent while Ethereum ($4,331.66) fell by 0.13 percent. Binance Coin ($577.41) also fell by around 1.63 percent. Solana ($191.52) fell by 1.85 percent, Cardano ($1.38) fell by 4.02 percent, Avalanche ($89.74) tumbled  by  4.11 percent, Polkadot ($29.93) rose by 6.17  percent and Litecoin ($163.58) also jumped by 2.35 percent over the last 24-hours.

Memecoins SHIB also shrank by around 2.18 percent while DOGE  surged by 0.05  percent.

Bitcoin is currently trading at Rs 40,25,315

The Central government is considering giving Indian cryptocurrency holders a deadline in order to declare assets and become compliant with forthcoming new rules. As punishment of any violation, a fine of Rs 20 crore or about $2.7 million, or imprisonment of 1.5 years will be slapped on the individual, as per the proposals. Along with this, setting a minimum threshold or limit in regards to investing in crypto assets in order to safeguard small investor is also in the works.

As a matter of fact, The US Central Intelligence Agency Director William Burns also admitted recently that the CIA has multiple projects to keep track of cryptocurrencies in a concerted effort to combat ransomware.

As of 8:14 am today, these were the prices of various cryptocurrencies in the Indian market (Data from WazirX)