Russian President Putin Shows Positive Approach on Bitcoin Mining; Dogecoin, Bitcoin Fall

In a recent meeting with the ministers on Wednesday, President of Russia Vladimir Putin noted that the country does have advantages when it comes to the mining of cryptocurrencies. “I would like to start with an issue that is currently in the spotlight — the regulation of cryptocurrencies,” said Putin 

“I am familiar with the ongoing discussion on this matter. These issues are dealt with and regulated by the Central Bank of the Russian Federation. Although, of course, we also have certain competitive advantages here, especially in the so-called mining. I mean the surplus of electricity and the well-trained personnel available in the country,” Russian President Putin added. 

Meanwhile, the price of Bitcoin was down by 3.64 per cent and was trading at $36,487.38 at 5:00 pm, while its dominance in the crypto market is currently at 41.95 per cent, down by 0.16 per cent in the last 24 hours.  

Ethereum (ETH) was trading at $2,446.15, with a fall of 3.20 per cent in the last 24 hours, while Binance Coin (BNB) was down by 4.20 per cent over the same period and was trading at $370.80. Solana (SOL) down by 6.62 per cent to $90.37 and Cardano (ADA) was down by 1.10 per cent to $1.05. 

Meme Coins   

Except for Dogelon Mars (ELON) all major meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB) and Hoge Finance (HOGE) have fallen in the last 24 hours.   

Dogecoin was down by 4.31 per cent while trading at $0.1427 at 5:00 pm. Rival Shiba Inu was down by 4.54 per cent and was trading at $0.00002079, Dogelon Mars rise by 12.61 per cent and was trading at $0.0000009178, while Hoge Finance was trading at $0.0001004 and recorded a fall of 1.41 per cent.  

Overall Scenario  

The global crypto market cap was $1.65 trillion, registering a decrease of 3.31 per cent in the last 24 hours, while the total crypto market volume was $544.72 billion, down by 98.63 per cent.  

CryptoSword (SWD) became the biggest gainer, recording a rise of 403.3 per cent. It was trading at $0.1291 at 5:00 pm. Alongside, Ruyi (RYB) witnessed maximum loss, falling 99.99 per cent; it was trading at $0.0000003738. 

Latest Update  

The Italian automaker company Lamborghini is accelerating into the world of the blockchain with the release of its first non-fungible token (NFT) next month, The Verge reported. It would auction off a series of NFTs that is produced in collaboration with Swiss artist Fabian Oefner, as well as NFT Pro and Sotheby’s. 

Moreover, Popular singer Daler Mehndi has become the first Indian singer to perform at a Metaverse concert on Republic Day, ANI reported.