Top Cryptocurrency News Today: The biggest moves in Bitcoin, Ethereum, Ruby, and more
Today’s cryptocurrency prices: Bitcoin is down 7%, Ethereum is down 11%.
During the last 24 hours, the global cryptocurrency market capitalization fell from $1.88 to $1.7 trillion, while trading volume increased from $66.35 to $126 billion.
The market capitalization of decentralized finance (DeFi) coins increased by 123.14 percent to $120.97 billion. Stablecoins were valued at $115 billion, accounting for approximately 7% of the market. To keep their price stable, stablecoins are linked to an asset, such as the dollar or any other fiat money or gold.
Bitcoin’s market share stayed practically unchanged at 40.51 percent this morning, with the asset trading around $36,579 levels.
Bitcoin dropped over 7% (percent) to Rs 29,63,463, while Ethereum dropped 11% (percent) to Rs 2,11,277.4 in rupee terms.
Meanwhile, Robinhood Markets Inc announced in a blog post that it is rolling out crypto wallets to 1,000 users, allowing them to send and receive cryptocurrency through their brokerage accounts. Last year, the Menlo Park-based online brokerage announced intentions to begin testing the wallets, with a wider rollout planned for 2022.
As of 10:25 am, these were the prices of various cryptocurrencies in t
he Indian market (Data from Coin Switch)
|Cryptocurrency||Price in (Rs)||24-hour change(in%)|
|Shiba Inu (SHIB)||0.0001778||-16.65|
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Dogecoin drops to its lowest price as the crypto market falls in nine months.
Dogecoin fell below $0.14 today, marking its lowest price since April 2021.
The meme coin, which soared in price in early 2021, is now down 81% from its peak.
According to Coin Gecko, the cryptocurrency market has lost nearly 13% of its overall value in the last 24 hours. While Dogecoin, the notoriously volatile joke coin, has had a smaller daily drop, it is already at its lowest point in over nine months.
As of this writing, Dogecoin has dropped nearly 9% in the last 24 hours to a price just above $0.14, and it briefly fell below $0.14 this afternoon. According to Coin Gecko data, DOGE has dropped 18 percent in the last seven days.
Dogecoin has dropped below $0.14 for the first time since mid-April 2021 when the long-running meme coin was experiencing a social media-fueled rise that pushed its value from $0.07 to $0.40 in a matter of days.
In early 2021, the value of Dogecoin skyrocketed. It started the year at less than a cent a coin and quickly rose in price as part of the larger meme stock trading frenzy that began in late January. DOGE reached a high of roughly $0.08 per coin in early February before beginning to decline.
In April and May, however, DOGE’s value increased several times more, eventually reaching an all-time high above $0.73 on May 8. That high point, however, would not last.
DOGE sank hard with intermittent upward swings as the wider crypto market entered an early summer free fall, but never came close to recapturing its peak. DOGE hasn’t risen above $0.30 since early September, according to CoinGecko. Dogecoin’s price has dropped 81 percent since its all-time high as of this writing.
It remains to be seen whether Dogecoin can recapture its early 2021 speed and achieve the famous $1.00 milestone, although it has dropped far from its peak. The coin’s slow collapse in recent months has been worsened by today’s larger market catastrophe.
Shiba Inu, the Ethereum-based meme token that emerged as DOGE’s major competitor last year—and even momentarily eclipsed Dogecoin in market cap—is down a whopping 16 percent to $0.00002273. According to CoinGecko data, SHIB struck a three-month low today and is now down 74% from its all-time peak of $0.00008616 in late October.
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