Bitcoin, Ethereum, Solana decline, market capital up 4.84%

Except for Solana, which rose almost 4.5 percent to trade at $222, all currencies declined, including Bitcoin, which fell 2.76 percent, Ethereum, which declined 4.27 percent, and Polkadot, which shrank almost 2.5 percent.

Cryptocurrency

Most cryptocurrencies plunged into the red as the crypto market capitalisation stood at $2.59 trillion, decreasing almost 1.98 percent over the last 24 hours. Currently trading at $57,852, bitcoin saw a marginal dip of about 0.11 percent in its dominance, standing at 42.24 percent.

Except for Solana, which rose almost 4.5 percent to trade at $222, all currencies declined, including Bitcoin, which fell 2.76 percent, Ethereum, which declined 4.27 percent, and Polkadot, which shrank almost 2.5 percent. Notably, only Crypto.com coin rose substantially, almost 27.90 to trade at $0.7, and Avalanche, which surged 5.59 percent to $131.

When it comes to DeFi, it constituted 14.84 percent of the total 24-hour market volume standing at $15.84 billion. Similarly, stablecoins held good at 78.31 percent of the intraday-market volume, constituting a volume of $83.59 billion.

El Salvador president Nayib Bukele unveiled the country’s plan to construct the world’s first Bitcoin city, which will be financed via the issuance of $1 billion bitcoin bonds in 2022. However, no timeline was mentioned for the construction of this city.

In other news, Twitter CEO Jack Dorsey announced tbDEX, the decentralised bitcoin exchange that aims to make bitcoin the native currency of the internet by merging the existing gap between fiat and Bitcoin. The exchange will offer a direct way for people to convert their fiat into Bitcoin without having to go through multiple platforms.

As of 8:20 am today, these were the prices of various cryptocurrencies

CRYPTOCURRENCY PRICE (IN INR) 24-HOUR CHANGE (IN PERCENT)
Bitcoin 46,66,666 -1.39
Ethereum 3,47,573 -3.12
Cardano 146.12 -3.65
Tether 80.76 +0.64
Solana 17,929 +5.04

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