Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, Litecoin are placed on PC motherboard in this illustration (REUTERS)


After seeing a significant gain ahead of Christmas, major cryptocurrencies are back in red again, with the world’s largest cryptocurrency Bitcoin falling 0.09 per cent to $48,579.46, crypto exchange CoinGecko data shows. The continued low trading of Bitcoin and other digital currencies is being attributed to the year-end holiday season.

With a trading volume of $21,889,731,670 in the past 24 hours, Bitcoin’s market cap stood at $918.5 billion.

Ethereum, which is the world’s second-largest cryptocurrency, recorded a 1.7 per cent fall in the past 24 hours to $3,963.20. Its one-hour and 7-day change stand at – 0.9 per cent and 1.3 per cent, respectively. With a 24-hour trading volume of $14,096,752,991, Ethereum’s market cap declined to $472.4 billion.

Popular Defi token Solana declined 1.1 per cent, though other tokens such as Cardano, Polkadot and Polygon recorded significant gains at 3.0 per cent, 7.6 per cent, and 4.3 per cent, respectively.

Also read: ‘Has anyone seen Web3?’ Elon Musk, Jack Dorsey mock tech’s latest buzzword

Major meme coins like Shiba Inu and Dogecoin also recorded gains at 5.6 per cent and 0.6 per cent, respectively. The global cryptocurrency market cap today is $2.4 trillion, a – 0.0 per cent change in the last 24 hours, CoinGecko data showed.

Meanwhile, India’s much-awaited cryptocurrency bill was not presented in the current parliament session as the government is still finalising some details of the legislation.

The earlier reports of the Modi government planning to bring tougher regulation against crypto had sent crypto prices falling in the country. However, it’s believed now that the Centre wants more talks on the matter before it zero-in on the final rules to govern digital currencies in India. 

Also read: Crypto entrepreneur Justin Sun tackles space next with Blue Origin flight

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