Crypto Price Today Live: Dogecoin, Shiba Inu, Polkadot drop 4% each; Unus Sed Leo rises

economictimes.indiatimes.com:

crypto market was back in the red during the early trading hours on Wednesday. Bitcoin again breached the $20,000 threshold, denting the sentiments for other crypto assets. The flow of bad crypto news was slower than it has been most days over the past six weeks. However, the gloom and fear in the crypto industry still persist. Barring the Unus Sed Leo, which was up by 3 per cent down, all other crypto tokens were lower on Wednesday. Shiba Inu, Dogecoin and Polkadot plunged 4 per cent each, whereas Cardano shed 3 per cent.

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In the wake of the crypto market crash, the prices of hardware used to support the mining of crypto assets are also falling dramatically. For example, a high-end graphic card is now almost 45% cheaper compared to its price a few months ago.

The global cryptocurrency market cap was trading lower at the $894.51 billion mark, dropping almost 2 per cent in the last 24 hours. However, the total cryptocurrency trading volume jumped almost 17 per cent to $64.82 billion.What's cooking in IndiaThe Directorate of Enforcement (ED) has sought further details and documents from cryptocurrency firms as part of its ongoing probe into alleged instances of foreign exchange violations, if any, by these firms, sources said. ED has sent out notices to cryptocurrency exchanges seeking further information under the Foreign Exchange Management Act (FEMA), they added. Crypto lender Nexo signed a term sheet with Vauld that could result in Nexo buying 100 per cent of the crypto lending platform. Pending due diligence, Nexo will acquire up to 100 per cent of the troubled firm.Expert take«Bitcoin is trading slightly below the overall average buy price; we are not out of the danger zone yet.