US President Joe Biden may issue an executive order next week directing various government agencies to closely study cryptocurrencies and Central Bank Digital Currency (CBDC), according to a report in Yahoo Finance.
Meanwhile, due to uncertainty and tension regarding a full-blown war breaking out at any moment between Russia and Ukraine, the global crypto market tanked sharply. At 8.37 am, the global crypto market cap was down by 6.56 per cent at $1.86 trillion. The crypto trading volume increased by 25.64 per cent at $87.52 billion, as per Coinmarketcap data.
Cryptocurrency Prices
The price of the world’s oldest cryptocurrency Bitcoin (BTC) crashed by 7.33 per cent to $40,778.05.
“The global market's appetite for high-risk and speculative assets dropped as a potential geopolitical war seems to be back in place, between Russia and Ukraine. Ether and other major altcoins have retraced as well. Investors are most likely seeking for less risky assets, at the moment,” says Gaurav Dahake, CEO and founder, Bitbns.
Ethereum (ETH), the second-largest cryptocurrency by market capitalisation, crashed by 7.25 per cent at $2,907.06.
Among other major coins, Cardano (ADA) was down by 5.34 per cent at $1.03, Algorand (ALGO), which is known as the Ethereum killer, was also down by 7.37 per cent at $0.9071; its market cap was at $6,030,901,486. Binance Coin (BNB) was down by 5.84 per cent at $403.73, while Solana (SOL) fell 6.53 per cent at $94.17 and Polkadot (DOT) by 7.3 per cent at $18.28.
Today’s top gainer was TeddyDog (TDG), which was up by 661.34 per cent at $0.00000009627. The top loser was CryptoPlanes (CPAN), which is down by 99.98 per cent at $0.000002201.
Meme Coin And DeFi Prices
Dogecoin (DOGE) was down by 5.59 per cent at $0.141. Its volume to market cap ratio stands at 0.04123. Rival Shiba Inu (SHIB) was down by 7.28 per cent at $0.00002891.
Dogelon Mars (ELON) was trading with a loss of 11.11 per cent at $0.0000008804. Floki Inu (FLOKI) was down by 14.75 per cent at $0.00003659, while Samoyed Coin (SAMO) lost 8.36 per cent at $0.02208.
In the DeFi segment, YFI (yearn.finance) was trading with a loss of 4.15 per cent at $22,670.84, while Terra (LUNA) was also down by 9.12 per cent at $50.89. Avalanche (AVAX) was down by 7.53 per cent at $89.58, Uniswap (UNI) lost 7.16 per cent to trade at $10.40, and Aave (AAVE) declined 9.46 per cent to $153.99.
Latest Updates
Biden has said that the threat of a Russian invasion in Ukraine is now very real despite several efforts to mitigate it. “We have reason to believe that they are engaged in a false-flag operation to have an excuse to go in. Every indication we have is that they're prepared to go into Ukraine, attack Ukraine,” he was quoted as saying in a press conference.
Meanwhile, the Federal Bureau of Investigation (FBI) has started a new blockchain analysis and enforcement unit due to increased complicated criminal activities in this sector. This unit is named “virtual asset exploitation unit” and will be headed by Eun Young Choi, an eminent prosecutor who led the Russian hacker and JP Morgan Chase bank case. Lisa Monaco, Deputy Attorney General of the US, said in a speech, “We are issuing a clear warning to criminals who use cryptocurrency to fuel their schemes. We also call on all companies dealing with cryptocurrency - we need you to root out cryptocurrency abuses,” reported Yahoo Finance.
