The cryptocurrency market rose marginally on Sunday as traders saw some value at lower levels. Global cryptocurrency market cap jumped 1.55 percent to $1.73 trillion in the past 24 hours, while trading volume skyrocketed 1.06,435.67 percent to $79.22 trillion over the same period.
The world’s largest cryptocurrency traded more than 1.43 percent higher at $38,157.28. Bitcoin is down more than 20 percent since the beginning of this year (year-to-date or YTD), while it has nearly halved from its all-time high of $69,000 in November after 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, up 2.99 percent in the past 24 hours, according to CoinmarketCap.com.
Cardano rose 2.33 percent to $1.07 and Avalanche 5.50 percent to $71.52. Polkadot rose 2.22 percent in the past 24 hours to $18.91. Tether rose 0.01 percent to $1.00.
Memecoin SHIB was up 1.82 percent, while Dogecoin rose 0.75 percent to trade at $0.1429. Terra (LUNA) fell 2.61 percent to $50.27.
Payments giant Visa stated that its customers made $2.5 billion in payments in the first fiscal quarter of 2022 using its crypto-linked cards. This is more than 70% of the total crypto card volume during fiscal year 2021, indicating increased adoption of digital asset payments.
Visa CFO Vasant Prabhu expressed his optimism about the development in an interview with CNBC. “To us, this indicates that consumers see the benefit of having a Visa card linked to an account on a crypto platform,” he said, referring to an immediate and seamless ability to manage purchases and fund payments.
A controversial proposed rule that would enforce know-your-customer rules on non-hosted or self-hosted crypto wallets may be reconsidered by the US federal government.
The rule was first proposed in late 2020 by the Financial Crimes Enforcement Network, the US money laundering watchdog. If in effect, crypto exchanges would be required to collect names and home addresses, among other personal details, of anyone wishing to transfer cryptocurrencies to their own private wallet.
Separately, the New York State Department of Environmental Conservation has delayed its decision on whether Greenidge Generation can continue to use its power plant in the city of Dresden for bitcoin mining, Bloomberg reported. The miner filed last year to renew his permits for the factory, the first time it has been renewed since powering bitcoin mining operations.
Also, Ethereum founder Vitalik Buterin will get back $100 million in USDC from the more than $1 billion in Shiba Inu he previously donated to the India-focused COVID-19 relief fund, CryptoRelief, the fund’s founder, Sandeep Nailwal and Buterin , recently tweeted.
Here are the top 10 cryptocurrencies and their prices as of January 30, 2022 (data from coinmarketcap.com at the time of publishing this article)
Bitcoin $38,157.28 or 1.43% gain in the last 24 hours
Ethereum $2,605.70 or 2.99 Profit in the Last 24 Hours
Cardano $1.07 or 2.33% profit in the last 24 hours
Tether $1.00 or 0.01% profit 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% profit in the last 24 hours
Avalanche $71.52 or 5.50% profit in the last 24 hours
Binance $1.00 or 0.11 profit in the last 24 hours
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