Cryptocurrency Prices Today March 10: BTC, ETH, ADA clock up marginal gains

Bitcoin (Representative image)

The global cryptocurrency market capitalisation rose 3.77 percent over the last 24 hours to $1.82 trillion while trading volumes rose 20.99 percent to $94.86 billion during the period.

The total volume in the decentralised finance (DeFi) space stood at $17.08 billion, around 18.01 percent of the 24-hour cryptocurrency trading volume. The total volume in stablecoins stood at $79.68 billion, making up 84 percent of the 24-hour cryptocurrency trading volume.

Bitcoin's market dominance was up 0.86 percent to 43.17 percent and the currency was trading at $41,428.48 on the morning of March 10.

In rupee terms, Bitcoin rose 4.27 percent to trade at Rs 32,36,608 while Ethereum jumped about 1.69 percent to Rs 2,11,117.8

Cardano was up 1.25 percent to Rs 65.12 and Avalanche jumped 1.52 percent to Rs 6,053.005. Polkadot was up 0.82 percent to Rs 1,379.18 and Litecoin rose 1.82 percent to Rs 8,294.87 in the last 24 hours. Tether was down 0.49 percent to Rs 78.95

Memecoin SHIB rose 0.33 percent, while Dogecoin was down by 0.25 percent to trade at Rs 9.38. Terra (LUNA) rose 7.29 percent to Rs 7,620.01

In other news, US President Biden signed the much-awaited Executive Order on Ensuring Responsible Development of Digital Assets. Notably, this  is the first "whole-of-government" approach to regulating the cryptocurrency industry at a global level, and it aims to target a plethora of issues within the crypto space, including consumer protection, illicit finance, financial inclusion, and "responsible development."

Crucially, the executive order does not itself introduce new regulations or provide regulatory agencies with the administration’s position on what regulations, specifically, they ought to adopt. Rather, the order asks for federal agencies, such as the Federal Trade Commission, the SEC, and the CFTC, to coordinate their efforts with respect to their oversight of the crypto industry. It also calls for the Treasury Department to “produce a report on the future of money and payment systems.”

The crypto executive order is broken down into 10 sections: policy, objectives, coordination, central bank digital currencies, consumer protection, financial stability, actions to address illicit finance in digital assets, international cooperation, definitions, and finally, general provisions.

As of 7:30 am, these were the prices of various cryptocurrencies in the Indian market (Data from WazirX)