Cryptocurrency Prices Today: Bitcoin, Ether Drop While Solana, Litecoin Go Up

Cryptocurrencies on Sunday traded lower, with Bitcoin price today slipping below the $41,000 level. The world’s largest and most popular cryptocurrency was trading at 0.4% lower in the early hours of Sunday at $40,350. The digital token is down more than 13% in 2022 (year-to-date or YTD) so far.

Additionally, the global cryptocurrency market capitalization today is $1.97 trillion, which 0.5% drop in the last 24 hours. The total cryptocurrency trading volume in the last day is at $60.4 billion. Bitcoin dominance is at 38.8% and Ethereum dominance is at 18.5%. 

Ethereum dropped 0.2% trading at $3,041.27 on Sunday. Ether rose about 2% to around $3,000 last week. It has slumped about 18% this year, while larger rival Bitcoin has decreased around 14%. Solana was up 0.4% trading at $101.84. Litecoin also went up 1.9% and was trading at $114.26. 

Shiba Inu, on the other hand, dropped 1.1% and was trading at $0.00002563. Dogecoin witnessed a deeper plunge at 2.4% and was trading at $0.143599.

In another related development, big Indian crypto exchanges CoinSwitch Kuber and WazirX have disabled rupee deposits for the purchase of cryptocurrency through a widely-used state-backed transfer network, spurring users to renew demands for regulatory clarity.

India has spent years working on a law to ban or regulate cryptocurrencies, with a ban backed by the central bank over risks to financial stability, though a recent decision to tax income from them suggests acceptance by authorities. CoinSwitch was not allowing users to load deposits on its app, although they could still withdraw funds.

It is worth noting that even though no official data is available on the size of India’s crypto market, however, the industry estimates say the number of investors ranges from 15 million to 20 million, with total holdings of about 400 billion rupees ($5.25 billion).

(With inputs from agencies)

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