Cryptocurrency Prices Today February 22: Bitcoin, Ethereum down 4%, Cardano tanks 11%
Cryptocurrencies traded in the red early on February 22. The global crypto market capitalisation is $1.68 trillion, a 5.57 percent decrease over the last day. The total crypto market volume over the last 24 hours is $100.86 billion, a 43.65 percent increase.
The total volume in DeFi is currently $12.99 billion, 12.88 percent of the total crypto market 24-hour volume. The volume of all stablecoins is now $84.87 billion, which is 84.14 percent of the total crypto market 24-hour volume.
Bitcoin's price is currently Rs 29.63 lakh with a dominance of 42.01 percent.
In global news, Russia's finance ministry on Monday said it would take proposals on cryptocurrencies from the country's central bank into account so long as they do not contradict its own approach, paving the way for legislation governing digital assets.
A simmering dispute over cryptocurrency regulation in Russia heated up on Friday as the finance ministry submitted legislative proposals to the government that clashed with the central bank's demand for a blanket ban.
The Bank of Russia has proposed banning cryptocurrency trading and mining due to the threat digital currencies pose to financial stability. But the finance ministry prefers legislation that regulates cryptocurrencies, allowing them as an investment tool, but not as a means of payment. The finance ministry's draft legislation aims to create a legal market for digital currencies.
On the entertainment front, Universal Music Group has struck a partnership with NFT platform Curio to develop NFT collections for its record labels and artists, Reuters reported. The deal is a major move into a potentially new revenue stream by the world's largest music company, which, like its rivals, depends heavily on streaming
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