Cryptocurrency Price Today: Top cryptocurrency Prices Today: Bitcoin, Solana, Dogecoin, Shiba Inu tumble up to 7%

Synopsis

All of the top digital tokens were bleeding on Friday. Ethereum and Solana tumbled 7 per cent each, whereas Avalanche and Cardano dropped 6 per cent each. Bitcoin, Shiba Inu and Dogecoin shed 5 per cent each.

The global cryptocurrency market cap declined to $1.83 trillion mark, dropping about 5 per cent in the last 24 hours.New Delhi: Major cryptocurrencies declined on Friday as Russia intensified its strikes on Ukraine. The Ukrainian nuclear plant, Europe’s largest, caught fire after a Russian attack.

The Biden Administration requested $10 billion in humanitarian and defence aid and imposed new sanctions on Russia as crypto and other donations poured into the country.

All of the top digital tokens were bleeding on Friday. Ethereum and Solana tumbled 7 per cent each, whereas Avalanche and Cardano dropped 6 per cent each. Bitcoin, Shiba Inu and Dogecoin shed 5 per cent each.
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The global cryptocurrency market cap declined to $1.83 trillion mark, dropping about 5 per cent in the last 24 hours. Total cryptocurrency trading volume slipped up to 10 per cent to $85.93 billion.

What’s cooking in India
India, the world’s largest democracy, may make its tax policy clearer by tweaking the definition of crypto or virtual digital assets. The government will also include a detailed FAQ to explain the definition.

Expert take
Bitcoin and other altcoins are showing signs of exhaustion after a strong rally, following a fall in the riskier asset class. The fire in Europe’s nuclear power house and Russia increasing strikes on Ukraine is not a good sign, said Kunal Jagdale, Founder, BitsAir Exchange.

“Rising prices of energy avenues such as crude and natural gas may hurt sentiments further. Crypto donations to Ukraine and Russia’s rising interest have again brought these assets in the timelight,” he added.

Global updates
Foundry Digital, the digital asset mining and staking company, is joining the Blockchain Association, a crypto industry lobbying group.

Rarify, which offers infrastructure to help companies add NFT to their platforms, has closed a $10 million Series A funding round led by crypto investment firm Pantera Capital at a $100 million valuation.

The US Internal Revenue Service filed to dismiss a lawsuit from two Tezos stakers, saying the agency had already refunded just under $4,000 in taxes plus interest to the individuals.


According to the market cap, most cryptocurrencies are running in red as Russia escalates its attack, with Bitcoin and Ethereum falling, said Edul Patel, CEO and Co-founder of Mudrex.

“To sustain the recovery phase, buyers will need to keep Bitcoin above the $37,000 breakout level,” he added. “Since there are very few signs of exhaustion, it could keep the short-term buyers active in the crypto market.”

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Updated: 03/04/2022 — 11:00