On the Index, Ethereum was trading at $1974, down 10.26% on the day. Since January 24, it was the greatest dramatic percentage decline in a single day.
As a result of the drop, Ethereum’s market cap plummeted to $277.14 billion, or 17.80 percent of the total cryptocurrency market worth. The market capitalization of Ethereum reached $569.58 billion.
Ethereum has moved in a band of $1955.65 to $1980.81 in the previous 24 hours. Ethereum, on the other hand, is still 41.23 percent below its all-time high.
Bitcoin was down 5.56 percent on the day, trading at $33,878.9. Tether was trading at $1.00 on the Index, down 0.03 percent.
Tether’s market cap was $78.34 billion, or 5.03 percent, while Bitcoin’s market cap was 41.79 percent of the global cryptocurrency market cap.
Huobi Global, one of the most popular digital asset exchanges in the world, has begun its Lunar New Year marketing campaign. Huobi has invested in and listed GameFi and other metaverse companies’ tokens.
Huobi’s DIDs are meant to act as gateways into the metaverse for users, bridging the gap between Web2 and Web3. As a result, DIDs are widely seen as a need for anyone seeking entry into the metaverse. They allow users to interact with the metaverse while also recording and verifying all information and activity on blockchains.
Meta is attempting to enter the $40 billion NFT sector. Users will be able to create and sell digital treasures with the help of the internet giant, and NFTs will be shown on social media accounts.
After months of planning, Robinhood (HOOD) announced on Thursday that it has begun beta testing its bitcoin wallet. The cryptocurrency wallets will be distributed to the first 1,000 people on the waiting list.
The well-known stock and cryptocurrency trading software wants to expand the programme to 10,000 subscribers, according to the press release.
Rising geopolitical uncertainty has weighed on global asset markets, with Asian stocks leading the way lower and European stocks following suit.
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