Cryptocurrency Prices Today: Bitcoin falls over 1%, Solana tumbles 14%

The global cryptocurrency market capitalisation dropped to $1.6 trillion from $1.7 trillion during the last 24 hours while the trading volume rose from $126 billion to $130 billion. The decentralised finance (DeFi) cryptocurrency market cap increased 7.26 percent to $113.19 billion while that of stablecoins rose 0.14 percent to $165 billion. 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 41.26 percent and the asset was trading at $35,203.60 levels today morning. In rupee terms, Bitcoin fell over 1 percent to trade at Rs 28,95,454 while Ethereum fell 5 percent to Rs 2,00,017.6. Read more here. 

Brazilian fintech Dock will use crypto for international remittances

Brazilian financial services provider Dock said on Friday it will start using cryptocurrencies to process international remittances as it expands to Latin America and Europe. Brazilian reais will be converted into Bitcoin then into another currency, such as the dollar, and will reach end users through Dock customers such as Vivo and Natura&CO. Read more here.

Markets wipe off $1 trillion since November 2021

The year 2022 till now hasn't been particularly kind to the cryptocurrency market. Since the start of this year, Bitcoin has been down 16 percent and Ethereum has tumbled 22 percent. And this southward trajectory continued for Bitcoin and other coins yesterday as well, when Bitcoin slumped to its lowest levels in the last 5 months, presently trading at $35,017.4. This is a 40 percent fall for Bitcoin from its all-time high of $69,000 in November 2021. This fall, coupled with the decline in other cryptocurrencies, has resulted in almost $1 trillion being erased from the market. The second dominant crypto Ethereum is not faring well either, currently trading at $2,451.47. Read more here.

NBA top shot NFTs have quietly surged 72% in 30 days

Even as the crypto market suffers, NFTs or non-fungible tokens are still raking in eye-watering amounts of money. OpenSea, the top NFT marketplace, smashed its single-monthly record last week with $3.5 billion in sales in January so far—only halfway through the month. And one early NFT collection in particular has been resurgent over the past 30 days: NBA Top Shot, the licensed NBA "moments" on the Flow blockchain from Dapper Labs. Read more here.