Cryptocurrency Prices Today: Markets recover slightly to trade in green as Bitcoin, Ethereum rise

The global cryptocurrency market capitalisation rose 2.65 percent over the last 24 hours to $1.66 trillion while the trading volume over the same period fell drastically by 99.91 percent to $79.04 billion.

While decentralised finance (DeFi) accounted for 14.28 percent of the 24-hour cryptocurrency trading volume at $11.29 billion, stablecoins made up 81.84 percent at $64.68 billion. Bitcoin's market dominance surged 0.01 percent to 42.07 percent and was trading at $36,837.91 today morning.

In rupee terms, Bitcoin rose 3.07 percent to trade at Rs 29,81,727, while Ethereum increased 1.54 percent to Rs 1,94,250

Cardano rose 1.99 percent to Rs 84.11 and Avalanche rose 2.44 percent to Rs 5,161.96. Polkadot rose 3.68 percent to Rs 1,452.63 and Litecoin rose 2.17 percent to Rs 8,570.16 over the last 24 hours. Tether rose 0.27 percent to Rs 80.99.

Memecoin SHIB increased 4.37 percent while Dogecoin rose 1.78 percent to trade at Rs 11.38. Terra (LUNA) fell 4.3 percent to Rs 4,320.

Reddit, the popular online discussion platform valued at $10 billion, is testing a feature that would allow its users to connect any non-fungible token (NFT) they own to their profile picture.

While Reddit has its own Ethereum-based NFT collection called CryptoSnoos, the new feature will reportedly enable users to add any NFT they own to their profiles.

The draft version of America COMPETES Act of 2022, which advanced out of the House Committee on Science, Space, and Technology this week, funds a litany of measures to maintain US economic superiority over China. While it touches on improving medical supply chains, strengthening cybersecurity, and promoting STEM research, it also would give the Treasury Secretary the power to all but shut down cryptocurrency exchanges, according to crypto-centric think tank Coin Center.

As described by Executive Director Jerry Brito and Research Director Peter Van Valkenburgh, the bill as written "empowers the Secretary to prohibit any (or indeed all) cryptocurrency transactions at financial intermediaries without any process, rulemaking, or limitation on the duration of the prohibition."

As of 8:30 am, these were the prices of various cryptocurrencies in the Indian market (Data from WazirX)