Top cryptocurrency prices today: Bitcoin, Ethereum drop 5%; Shiba Inu, Dogecoin lose 10%

New Delhi: The cryptocurrency market continued to dwindle down on Tuesday amid high possibilities of Russia’s invasion of Ukraine. Riskier assets bled over war-like situation. All top digital tokens crumbled on Tuesday. Avalanche tanked 15 per cent, followed by 10-12 per cent fall in major altcoins. Meme tokens like Dogecoin and Shiba Inu dropped 10 per cent each. Bitcoin and Ethereum fell 5 per cent each.

The global crypto market cap tumbled as much as 6 per cent to $1.67 trillion mark. On the contrary, the total crypto market volume jumped rallied more than 43 per cent to $101.33 billion.

What’s Cooking in India?
The prime architect of India’s biometrics-based unique identity programme, Nandan Nilekani, feels that the proposed digital rupee should remain ‘anonymous’. In a conversation with ET, the Infosys co-founder said concerns about surveillance will arise if all payment transactions are recorded and are visible. He adds that stablecoins can easily become un-stablecoins if there is a run on that currency.

In other news, funding in global and Indian crypto ventures hit a record high in 2021 despite uncertainties on legal and policy fronts. Blockchain platform Polygon recently raised $450 million.

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