Major Cryptocurrencies like Bitcoin, Cardano, Ethereum, Aave, Dogecoin and Shiba Inu saw their prices decline by 5% as of 8.48 am as per coinmarketcap data.
The global crypto market crashed even as reports came in that the Reserve Bank of Australia ending its quantitative easing program in the coming weeks. The global crypto market cap declined by 4.36 per cent at $1.70 trillion. The crypto trading volume, however, increased by 5.03 per cent to $ 68.38 billion, according to Coinmarketcap data.
Bitcoin (BTC), the world’s oldest cryptocurrency saw its prices decline by 4.55 per cent at $36,902.98 as of 8.48 am, as per coinmarketcap data.
“Bitcoin and major altcoins like Ethereum witnessed retracements after high selling pressure, ending the market leader's short-lived rally,” says Gaurav Dahake, CEO and founder, Bitbns.
Ethereum (ETH), the second-largest cryptocurrency by market capitalisation, saw its prices decrease by 4.03 per cent to $2,676.20.
Cardano (ADA), which increased its blockchain’s block size by 8 kb to 80 kb, saw its prices decline by 5.73 per cent at $1.03.
Among other major coins, Algorand (ALGO), which is known as the Ethereum killer, was down by 6.95 per cent at $0.9226; its market cap now stands at $6,070,747,192. Binance Coin (BNB) was down by 4.71 per cent at $366.22, while Solana (SOL) was down by a massive 12.21 per cent at $98.09 and Polkadot (DOT) fell 9.51 per cent at $18.40.
Today’s top gainer was PAPPAY (PAPPAY), which is up by 360.43 per cent at $0.0000004229. The top loser was Silver Token (SILVA), which is down by 76.51 per cent at $0.000000000013
Meme Coins And DeFi
Dogecoin (DOGE) was down by 3.59 per cent at $0.1378. Its volume to market cap ratio stands at 0.02714. Rival Shiba Inu (SHIB) was also down by 5.94 per cent at $0.00002063.
Dogelon Mars (ELON) was trading with a loss of 6.42 per cent at $0.0000007942. Floki Inu (FLOKI) was also down by 11.39 per cent at $0.00003272, while Samoyed Coin (SAMO) fell 10.39 per cent at $0.02135.
In the DeFi segment, YFI (yearn.finance) was trading with a loss of 10.2 per cent at $22,760.67. Terra (LUNA) was down by 7.29 per cent at $48.15, Avalanche (AVAX) was down by 8.01 per cent at $67.84, Uniswap (UNI) was also down by 6.65 per cent at $10.41, while Aave (AAVE) was down by 7.75 per cent at $149.85.
Latest Update
All the crypto token listings in the Japanese crypto exchanges are approved by The Japanese Virtual Currency Asset and Exchange Association (JVCEA). This work was delegated to JVCEA by the Financial Services Agency (FSA). According to a report by Bloomberg, due to the shortcomings of the current crypto token verification system which takes more than six months in some cases, a new crypto token verification system will be proposed by them which will allow them to list a dozen or more crypto tokens in one go.