Bitcoin, Ethereum Gain, Trading Volume Surges Over 100,000%; Check Latest Rates

The cryptocurrency market rose slightly on Sunday as traders saw some value at lower levels. The global cryptocurrency market capitalization increased by 1.55 percent over the past 24 hours to $1.73 trillion, while trading volume during the same period increased by 1.06.435.67 percent to $79.22 trillion.

The world’s largest cryptocurrency was trading over 1.43 percent at $38,157.28. Bitcoin is down more than 20 percent since the beginning of this year (YTD), while it has nearly halved from its all-time high of $69,000 last November by 50 percent.

On the other hand, Ether, the coin linked to the Ethereum blockchain and the second largest cryptocurrency, was marginally higher at $2,605.70 and is 2.99 percent higher in the past 24 hours, according to CoinmarketCap.com.

Cardano rose 2.33 percent to $1.07, and Avalanche rose 5.50 percent to $71.52. Polkadot is up 2.22 percent to $18.91 in the past 24 hours. Rope increased 0.01 percent to $1.00.

Memecoin SHIB rose 1.82 percent while Dogecoin rose 0.75 percent to trade at $0.1429. Terra (LUNA) stock fell 2.61 percent to $50.27.

Payment giant Visa says its customers made $2.5 billion in card payments with cryptocurrency during the first fiscal quarter of 2022. This represented more than 70% of the total volume of crypto cards during fiscal year 2021, indicating increased adoption of digital asset payments. .

Vasant Prabhu, Visa’s chief financial officer, expressed optimism about the development in an interview with CNBC. “For us, this indicates that consumers see the benefit of having a Visa card linked to an account in a crypto platform,” he said, citing the immediate and seamless ability to manage purchases and money payments.

A proposed controversial rule that would enforce KYC rules on non-hosted or self-hosted cryptocurrency wallets may be under further consideration by the US federal government.

The rule was first proposed at the end of 2020 by the Financial Crimes Enforcement Network, the US money laundering watchdog. If enacted, cryptocurrency exchanges would be required to collect names and home addresses, among other personal details, from anyone hoping to transfer cryptocurrency to their own wallets.

Separately, the New York State Department of Environmental Protection has delayed its decision on whether to allow Greenidge Generation to continue using its Dresden power plant for bitcoin mining, Bloomberg reports. The miner applied last year to renew its permits for the factory, the first time they had been renewed since it had been operating bitcoin mining operations.

Also, Ethereum founder Vitalik Buterin will receive US$100 million from more than $1 billion in Shiba Inu previously donated to the India-focused COVID-19 relief fund, CryptoRelief, fund founder Sandeep Nailwal and Buterin recently tweeted.

Here are the top 10 cryptocurrencies and their prices on January 30, 2022 (data from coinmarketcap.com at the time this article was published)

Bitcoin $38,157.28 or 1.43% gain in the last 24 hours

Ethereum earned $2,605.70 or 2.99 in the last 24 hours

Cardano $1.07 or 2.33% gain in the last 24 hours

Earn $1.00 or 0.01% in the last 24 hours

Terra $50.27 or 2.61% loss in the last 24 hours

XRP $0.6268 or 5.04% gain in the last 24 hours

Solana $92.26 or 4.53% gain in the last 24 hours

Avalanche of $71.52 or 5.50% gain in the last 24 hours

Binance $1.00 or 0.11 gain in the last 24 hours

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