Cryptocurrency Prices Today: Markets surge marginally in green as Bitcoin, Ethereum rise

The IMF has said that El Salvador should dissolve the $150 million trust fund it created when it made the cryptocurrency Bitcoin legal tender and return any of those unused funds to its treasury. (Representative image)

The global cryptocurrency market capitalisation rose 0.88 percent over the last 24 hours to $1.93 trillion while the trading volumes were down 11.16 percent to $63.96 billion.

While decentralized finance (DeFi) accounted for 12.96 percent of the 24-hour cryptocurrency trading volume at $8.29 billion, stablecoin was at 76.67 percent at $49.04 billion. Bitcoin's market dominance rose by 0.22 percent to 41.51 percent and the currency was trading at $42,204.91 on the morning of February 7.

In rupee terms, Bitcoin rose 2.02 percent to trade at Rs 33,22,183, while Ethereum rose 0.19 percent to Rs 2,37,499.9

Cardano rose 2.95 percent to Rs 91.55 and Avalanche rose 0.24 percent to Rs 6,180. Polkadot gained 0.92 percent to Rs 1,715.65 and Litecoin was up 3.26 percent to Rs 9,825 in the last 24 hours. Tether dipped 0.11 percent to Rs 78.3

Memecoin SHIB rose 27.02 percent, while Dogecoin increased 7.95 percent to trade at Rs 12.52. Terra (LUNA) tumbled by 1.64 percent to Rs 4,368

Ethereum NFT game Axie Infinity is set to institute a number of economic changes. Sky Mavis announced a series of economic changes that will launch with Axie’s upcoming 20th in-game season. Essentially, the PC and mobile game will hand out far fewer SLP reward tokens and shift more of the focus on rewarding online arena battles.

Myanmar's military government is proposing creating its own digital currency a year after overthrowing the democratically elected leader. Major General Zaw Min Tun, deputy information minister for Myanmar, said the military leadership wants to create its own digital currency to "improve financial activities" in the country, according to a report from Bloomberg. He indicated that the government might create the currency on its own or work alongside local firms.

The country's central bank, meanwhile, has already banned Bitcoin and other cryptocurrencies; it says it's still just in the research phase of central bank digital currencies (CBDCs), electronic versions of national currencies

As of 8:15 am, these were the prices of various cryptocurrencies in the Indian market (Data from WazirX.com)