Cryptocurrency Prices Today: Markets ring in red as Bitcoin, Ethereum register marginal dip

Bitcoin's price is currently Rs 33 lakh and its dominance of the crypto market over the last 24 hours is 40.19 percent.

The global cryptocurrency market capitalisation dipped by 1.89 percent over the last 24 hours to $1.97 trillion, while the trading volume over the same period tumbled by 3.75 percent to $74.65 billion.

While decentralised finance (DeFi) accounted for 15.46 percent of the total 24-hour crypto trading volume at $11.54 billion, stablecoins made up 78.54 percent at $58.63 billion of the total volume. Bitcoin's market dominance surged 0.23 percent to 40.21 percent and it was trading at $41,865.69 today morning.

In rupee terms, Bitcoin fell 1.15 percent to trade at Rs 33,58,793 while Ethereum fell 1.32 percent to Rs 2,50,145.1

Cardano dipped 10.8 percent to Rs 107.74 and Avalanche declined 2.32 percent to Rs 6,743.47. Polkadot fell 3.38 percent to Rs 1,953.64 and Litecoin declined 2.41 percent to Rs 11,049.99 over the last 24 hours. Tether dipped 0.07 percent to Rs 79.89.

Memecoin SHIB fell 2.61 percent, while Dogecoin decreased by 1.71 percent to trade at Rs 13.03. Terra (LUNA) declined 0.0 percent to Rs 6,415.

Alphabet Inc. subsidiary Google has hired former PayPal Senior Vice President and Chief Product Architect Arnold Goldberg to lead its payments division, according to a report today from Bloomberg. The search and advertising giant will wade more deeply into other financial services—including cryptocurrency debit cards.

The British government is introducing new legislation to protect consumers from misleading cryptocurrency advertisements, according to a recent announcement on the government website. Arguably, around 2.3 million Britons, or 3.4% of the UK population, now owns cryptocurrencies; some sources place the number as high as 3.3 million, or 5% of the population.

However, its understanding remains insufficient. A previous study by the UK’s Financial Conduct Authority (FCA) found that only 71% of the 2,568 respondents who’d heard of crypto were able to identify its definition correctly.

Retail behemoth Walmart has reportedly filed at least seven applications with the U.S. Patent and Trademark Office, clearing the way for it to issue its own cryptocurrency and NFTs within a metaverse

As of 8:10 am, these were the prices of various cryptocurrencies in the Indian market (Data from WazirX)