Cryptocurrency Prices Today: Bitcoin trading above $43,000; ETH in green

Over the last 24 hours, the total volume in the decentralised finance (DeFi) space stood at $17.29 billion, constituting around 18.23 percent of the 24-hour cryptocurrency trading volume. The total volume in stablecoins stood at $79.08 billion, around 83.39 percent of the 24-hour cryptocurrency trading volume. Bitcoin's market dominance fell 0.06 percent to 43.24 percent and the currency was trading at $43,691.16 on the morning of March 3, 2022. In rupee terms, Bitcoin rose 0.37 percent to trade at Rs 34,47,053 while Ethereum increased 1.06 percent to Rs 2,30,658.3. Read more here.

Fed Chair Powell Calls for Congressional Action on Crypto Amid Ukraine, Russia Conflict

Federal Reserve Chairman Jerome Powell reiterated his view that there is a growing need for cryptocurrency regulations during testimony before the House Financial Services Committee. He said recent events in Ukraine have “underscored the need for Congressional action on digital finance, including cryptocurrencies.” In response to questions about how Russia may be using crypto to circumvent sanctions, he said: "We have this burgeoning industry which has many parts to it, and there isn’t in place the kind of regulatory framework that needs to be there." Read more here.

Ukraine Now Accepts Dogecoin Donations Amid Russian Invasion

Ukraine is now accepting Dogecoin donations, per Vice Prime Minister Mykhailo Fedorov."Now even meme can support our army and save lives from Russian invaders," Fedorov tweeted. This is the latest cryptocurrency-related move on behalf of the Ukrainian government to raise funds amid Russia's invasion. Last week, the government's official Twitter account shared Bitcoin and Ethereum addresses when it announced Ukraine was now "accepting cryptocurrency donations." According to blockchain records, Ukraine has raised over $20 million in Bitcoin and Ethereum combined to date. The country is also accepting Polkadot donations. Read here.

Bob Dylan and Miles Davis NFTs Planned as Sony and Universal Join Solana Marketplace Snowcrash

Snowcrash, a startup focused on the Solana blockchain, has announced that Sony Music and Universal Music Group will be a part of its upcoming platform, which later this year is planning Bob Dylan and Miles Davis NFT drops. The music industry has taken a strong interest in NFTs as a way to further monetise artists and content, with musicians like Dolly Parton, Steve Aoki, Kings of Leon, and 3lau cultivating NFT-focused brands. Snowcrash will be competing against other Solana-based NFT marketplaces like Solanart and Solsea. OpenSea, the largest NFT marketplace, saw nearly $3.6 billion in sales last month, but currently only offers NFTs minted on the Ethereum and Polygon blockchains. Read more here.