Cryptocurrency Prices Today: Bitcoin, Ethereum decline
The global cryptocurrency market capitalisation dipped 4.04 percent over the last 24 hours to $1.70 trillion, while the trading volumes were up 7.54 percent to $68.72 billion.
While decentralised finance (DeFi) accounted for 16.55 percent of the 24-hour cryptocurrency trading volume at $11.37 billion, stablecoins constituted 76.59 percent at $52.63 billion. Bitcoin's market dominance rose 0.00 percent to 41.14 percent and the currency was trading at $36,918.30 in morning on February 3.
In rupee terms, Bitcoin fell 3.8 percent to trade at Rs 29,57,067 while Ethereum tumbled 3.58 percent to Rs 2,12,677.7
Cardano fell 4.43 percent to Rs 82.76 and Avalanche fell 6.23 percent to Rs 5,478.33. Polkadot fell 8.88 percent to Rs 1,469.69 and Litecoin was down 5.54 percent to Rs 8,610.72 in the last 24 hours. Tether was also up 0.24 percent to Rs 79.94.
Memecoin SHIB fell 4.29 percent, while Dogecoin dipped 2.98 percent to trade at Rs 11.05. Terra (LUNA) decreased by 6.66 percent to Rs 3,860.
Investors are reportedly not convinced by Facebook’s plans to dive into the metaverse. Shares of Facebook’s parent company Meta are down more than 20% today in aftermarket trading after it released its 2021 Q4 earnings report.
Facebook cited stagnant user growth in its earnings report as it took its eye off of flagship products and pivoted to creating a metaverse—an internet where people use digital avatars to interact, often with virtual and augmented reality headsets.
Also, Wormhole, a protocol that allows users to move their tokens and NFTs between Solana and Ethereum, has confirmed that it suffered an exploit of 120,000 Wrapped Ethereum, worth over $320 million—higher than the $250 million originally suspected.
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