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Cryptocurrency Prices Today: Recovery mode on as Avalanche rises 6.55%, Solana 3.88%

Cryptocurrency Prices Today: Bitcoin's market dominance rose to 42.04 percent and the asset was globally trading at $36,860.86 levels this morning.

January 26, 2022 / 09:24 AM IST
Cryptocurrency (Representative image)

Cryptocurrency (Representative image)

The global cryptocurrency market capitalisation reached $1.66 trillion (up 1.68 percent) during the last 24 hours while the market volume over the last 24 hours hit $80.34 trillion.

The decentralised finance (DeFi) cryptocurrency market cap is $13.24 billion while that of stablecoins is $80.32 trillion. Stablecoins are tied to an asset - such as the dollar or any other fiat currency or gold - to stabilise their price.

Bitcoin's market dominance rose to 42.04 percent and the asset was globally trading at $36,860.86 levels this morning. In rupee terms, Bitcoin was up 1.45 percent to trade at Rs 29,92,854 while Ethereum rose 1.74 percent to Rs 1,99,119.

Bitcoin, the world's biggest and best-known cryptocurrency, is now about half its $69,000 peak in November. It had a steep fall on January 21.

In the Indian market, most currencies seem to be in recovery mode as Avalanche has risen 6.55 percent and Solana 3.88 percent.

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Bitcoin has had wild price swings as risk appetite has fallen on inflation fears and anticipation of a more aggressive pace of interest rate hikes from the US Federal Reserve.

According to experts, Bitcoin remains in the danger zone and if $37,000 breaks, there is not much support until the $30,000 level.

As of 8:30 am, these were the prices of various cryptocurrencies in the Indian market (Data from WazirX)
CryptocurrencyPrice (in Rs)24-hour change (in percent)
Bitcoin29,92,8541.45
Ethereum1,99,1191.74
Cardano84.600.00
Tether₹81.05-0.53
Solana7,640.003.80
Avalanche5,499.006.55
Litecoin5,499.00-0.03
XRP50.00871.74
Axie4,179.381.82
 



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Moneycontrol News
first published: Jan 26, 2022 09:24 am
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