cryptocurrency The market was again on the red mark on Monday due to profit-booking after the weekend gain. Trading volumes declined significantly in Asian markets due to the holiday week. Bitcoin, along with other tokens, edged up slightly over the weekend with light trading volume, as most markets in Asia kicked off the week-long Lunar New Year holiday. The global cryptocurrency market capitalization fell nearly 3 percent to $1.67 trillion. Meanwhile, the total crypto market volume rose more than 4% to $56.22 billion.
world’s most popular and largest cryptocurrency By market cap, it fell 3.15 per cent to $37,008.21. Bitcoin has slipped more than 20 percent since the beginning of this year (year-to-date or YTD), while it has almost halved 50 percent from its all-time high of $69,000 last November.
On the other hand, Ether, the coin tied to the Ethereum blockchain and the second largest cryptocurrency, fell nearly 3.74 percent to $2,508.00, according to CoinmarketCap.com. Similarly, Binance Coin fell 4 percent to $369.
The price of Dogecoin also gained 3.96 percent to $0.1371, while the Shiba Inu fell more than 6.41 percent to $0.000002054. performance of others cryptos XRP, Stellar, Avalanche, Cardano, Solana, Polygon, Terra, Uniswap all declined with price cuts in the last 24 hours.
The Cyberspace Administration of China (CAC) announced the launch of an internal effort to accelerate blockchain development and innovation in 15 regions and 164 entities. The initiative aims to drive large-scale implementation of blockchain technology in businesses and government organizations in China.
The CAC, along with other government agencies, directed regulatory authorities to “promote a thorough and balanced layout of blockchain technology infrastructure in the region, build large-scale production-scale cross-chain data exchange support capacity, and promote the formation of blockchain technology infrastructure in the region.” A multi-party collaborative blockchain industry ecosystem.”
Recently, the United States Securities and Exchange Commission rejected Fidelity’s application for a bitcoin ETF. Notably, Fidelity, which already has more than $4 trillion in assets under management, launched a similar ETF product in Canada in 2021.
Ethereum founder Vitalik Buterin will receive $100 million back in USDC from more than $1 billion in Shiba Inu, cryptorelief, an India-focused COVID-19 relief fund, previously tweeted by Sandeep Nelwal and Buterin, the fund’s founders.
Here are the top 10 cryptocurrencies and their prices as of January 31, 2022 (data from Coinmarketcap.com at the time of publishing this article)
Bitcoin lost $37,008.21 or 3.15 percent in the last 24 hours
Ethereum lost $2,508.00 or 3.74 percent in the last 24 hours
Cardano lost $1.02 or 4.88 percent in the last 24 hours
Tether is up $1.00, or 0.00 percent, in the last 24 hours
Tera $44.15 or a loss of 12.36 percent in the last 24 hours
XRP Lost $0.5857 or 5.44 percent in the last 24 hours
Solana has lost $90.26 or 5.90 percent in the last 24 hours
Avalanches in the last 24 hours lost $65.05 or 8.94 percent
Binance lost $1.00 or 0.11 percent in the last 24 hours
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