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Cryptocurrency Prices Today: Bitcoin, Ethereum dip marginally as Tether, Cardano inch upwards

Cardano was up 2.27 percent to Rs 69.29 and Avalanche fell 5.26 percent to Rs 5,880.01. Polkadotrose 0.22 percent to Rs 1,388.16 and Litecoin was down 0.91 percent to Rs 8,195.06 in the last 24 hours. Tether was up 0.61 percent to Rs 79.16.

February 28, 2022 / 08:28 AM IST
Bitcoin (Representative image)

Bitcoin (Representative image)

The global cryptocurrency market capitalisation fell 1.35 percent over the last 24 hours to $1.72 trillion, while trading volumes jumped 19.71 percent to $81.67 billion during the same period.

Over the last 24 hours, the total volume in the decentralised finance (DeFi) space stood at $12.59 billion, constituting around 15.42 percent of the 24-hour cryptocurrency trading volume. The total volume in stablecoins stood at $66.78 billion, around 81.77 percent of the 24-hour cryptocurrency trading volume.

Bitcoin's market dominance rose 0.00 percent to 41.87 percent and the currency was trading at $37,950.46 on the morning of February 28.

In rupee terms, Bitcoin fell 0.44 percent to trade at Rs 30,15,386 while Ethereum fell 1.46 percent to Rs 2,09,457.1.

Cardano was up 2.27 percent to Rs 69.29 and Avalanche fell 5.26 percent to Rs 5,880.01. Polkadotrose 0.22 percent to Rs 1,388.16 and Litecoin was down 0.91 percent to Rs 8,195.06 in the last 24 hours. Tether was up 0.61 percent to Rs 79.16.

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Memecoin SHIB fell 0.64 percent while Dogecoin was down by 0.29 percent to trade at Rs 9.7. Terra (LUNA) fell 1.87 percent to Rs 5,794.7

A decentralized autonomous organization (DAO) has been formed to raise money for Ukrainian soldiers facing down the Russian army. UkraineDAO, a fundraising effort coordinated by members of the investment group PleasrDAO, the NFT studio Trippy Labs, and the Russian art collective Pussy Riot, has already raised over $3 million in Ethereum-based tokens.

Ukraine is accepting cryptocurrency as donations while war with Russia continues

The project is taking cues from other politically-minded fundraiser DAOs, like AssangeDAO (supporting embattled WikiLeaks founder Julian Assange) and ConstitutionDAO, which tried (and failed) to purchase an original copy of the U.S. constitution at auction. UkraineDAO joins the Ukrainian government itself in asking for cryptocurrency donations to aid the resistance following Russia’s invasion.

A new wave of indie filmmakers is seizing the opportunity to break into the industry using cryptocurrency and NFTs to fund their projects. For instance, Miguel Faus' debut feature film, "Calladita," will kick off its crowdfunding campaign on March 2—offering NFTs as rewards and unique perks for NFT owners who contribute to the raise. Unlike a traditional crowdfunding raise on Kickstarter or Indiegogo, Faus said, "The whole reward system is kind of subverted. The interests of the backers and the creators are much better aligned."

As of 8:40 am, these were the prices of various cryptocurrencies in the Indian market (Data from WazirX)
CryptocurrencyPrice (in Rs)24-hour change (in percent)
Bitcoin30,15,386-0.44
Ethereum2,09,457.1-1.46
Cardano69.29+2.27
Tether79.16+0.61
Solana6,958.1+1.15
Avalanche5,880.01-5.26
Litecoin8,195.06-0.91
XRP57.20-0.06
Axie3,814.7+0.21
 



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Moneycontrol News
first published: Feb 28, 2022 08:28 am
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