cryptocurrency price today: Top cryptocurrency prices today: Bitcoin, Ethereum, Dogecoin, Shiba Inu fall up to 6%

New Delhi: Top cryptocurrencies by market value took a beating in Saturday’s trade, falling up to 6 per cent amid concerns over a likely steep rate hike by the US Fed in its forthcoming May 2-3 policy review, even as the US economy contracted 1.4 per cent in the March quarter.

Similar concerns had led to a meltdown on Wall Street overnight.

Bitcoin, the largest crypto by market value, fell 2.43 per cent in the last 24 hours to $38,607.36. It is down 2.3 per cent in the last seven sessions.

Ethereum tanked 3.5 per cent to $2,817.94. The second-largest cryptocurrency by market value has fallen 4 per cent in the last one week.

BNB declined 1.83 per cent to $396.94. Solana dropped 3.73 per cent to $93.92, taking its weekly fall to 5.6 per cent.

XRP fell 2.98 per cent to $0.6193. This cryptocurrency has fallen 13.24 per cent in the last one week. Terra and Cardano fell up to 3.3 per cent and were down 8-9 per cent for the week.

Dogecoin, Avalanche, Polkadot and Terra USD shed up to 6 per cent. Meanwhile, Shibu Inu was down 3 per cent.

The global cryptocurrency market cap fell to the $1.76 trillion mark, down 2.46 per cent in the last 24 hours. Total cryptocurrency trading volumes declined 5.92 per cent to $91.14 billion, as per Coinmarketcap.

Global news

• The Swiss National Bank is against buying and holding bitcoin as a reserve currency, Chairman Thomas Jordan said at the central bank’s annual general meeting on Friday. The SNB, which has 937 billion in foreign currency investments, has reduced its investment in energy and fossil fuel companies from 10 per cent of its holdings to around 3 per cent to 4 per cent, Chairman Jordan said.

• The world’s first permanent NFT art museum has opened in Seattle, aiming to “pull back the curtain” on blockchain-based digital art. The museum opened its doors on Jan. 14, and has been providing an outlet for artists, creators, and collectors to display their NFTs in a physical setting, while aiming to educate the public about this fairly new market for digital art.