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Cryptocurrency Prices today on December 9: Bitcoin falls marginally while Ethereum, Terra rise

Memecoins SHIB shrank by around 0.43 percent while DOGE shrank by 0.43 percent. Bitcoin is currently trading at Rs 39,82,246, while Ethereum rose marginally to trade at Rs 3,49,556.

December 09, 2021 / 08:58 AM IST

The global crypto market capitalisation fell by 0.04 percent over the last 24 hours to stand at $2.36 trillion. Bitcoin, currently trading at $49,893.84 saw a fall in its market dominance by about 0.60 percent over the last day to stand at 39.91 percent.

The total cryptocurrency trading volume over the last 24 hours was $102.50 billion, declining by 6.04 percent. While DeFi ($16.06  billion) accounted for 15.67 percent of the total crypto volume, stablecoins ($80.36  billion) made for 78.40 percent of the crypto market's 24-hour market volume.

As for major cryptocurrencies globally, Bitcoin declined marginally by 1.20 percent while Ethereum (Rs 3,49,556) rose by 1.47 percent. Cardano (Rs 109.39) fell by 0.09 percent. Avalanche (Rs 7,267.37) rose by 1.87 percent, Polkadot (Rs 2,326.97) fell by 0.82 percent and Litecoin (Rs 12,851.86) also tumbled by 0.44 percent over the last 24-hours.

Memecoins SHIB also shrank by around 0.43 percent while DOGE shrank by 0.43  percent. Bitcoin is currently trading at Rs 39,82,246.

In the US, the chief executive officers of half a dozen cryptocurrency firms, namely Circle CEO Jeremy Allaire, FTX CEO Sam Bankman-Fried, Bitfury CEO Brian Brooks, Paxos CEO Charles Cascarilla, Stellar Development Foundation CEO Denelle Dixon and Coinbase Inc. CEO Alesia Haas appeared before the Congress for a five-hour session as lawmakers and the cryptocurrency industry deliberated to regulate and bring the more than $2 trillion market under government scrutiny.

Positively, the Democratic members praised the potential for crypto and blockchain wallets to provide lower-cost alternatives to the existing banking system.

In India, the new Cryptocurrency bill is reportedly set to empower regulators and government agencies including the Securities and Exchange Board of India (Sebi), Reserve Bank of India (RBI) and the IT department to scrutinise Know Your Customer (KYC) data of investors that crypto exchanges have collected from clients.

As of 8:15 am, these were the prices of various cryptocurrencies in the Indian market (Data from WazirX)
CryptocurrencyPrice (In INR)24-hour change (in percent)
Moneycontrol News
first published: Dec 9, 2021 08:58 am