Top cryptocurrency prices today: Bitcoin, Avalanche, Terra, Ethereum fall up to 6%

economictimes.indiatimes.com:

Barring the dollar-pegged stablecoins — USD Coin and Tether — all major crypto tokens and altcoins were trading lower. Terra dropped 6 per cent, whereas Avalanche tumbled 5 per cent. Ethereum and Shiba Inu plunged 4 per cent each. The global cryptocurrency market cap was trading sharply lower at the $1.53 trillion mark, falling about 3 per cent in the last 24 hours. However, the total cryptocurrency trading volume zoomed about 14 per cent to $98.63 billion.

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What's cooking in IndiaUnion Finance Minister Nirmala Sitharaman has flagged 'anonymity' as an 'inherent risk' in blockchain technology, but also added that the government supports the use of the same. Sitharaman's remarks come ahead of the launch of the budgetary announcement of central bank digital currency (CBDC) which is based on the blockchain technology itself and is billed as being similar to the paper currency carried in wallets.Expert takeIn its recent acquisition, Terra purchased 37,863 Bitcoins, almost doubling its Bitcoin holdings. This purchase amounted to almost $1.5 billion making their total holding to almost $3 billion, said WazirX Trade Desk. «They are almost near their short-term goal of $3 billion and are moving towards their long-term goal of $10 billion in Bitcoin to support the algorithmic stablecoin US Terra, often known as UST,» it added.Global updates