Cryptocurrency Price Today: Top cryptocurrency Prices Today: Bitcoin, Solana, Dogecoin, Shiba Inu tumble up to 7%

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New Del­hi: Major cryp­tocur­ren­cies declined on Fri­day as Rus­sia inten­si­fied its strikes on Ukraine. The Ukrain­ian nuclear plant, Europe’s largest, caught fire after a Russ­ian attack.

The Biden Admin­is­tra­tion request­ed $10 bil­lion in human­i­tar­i­an and defence aid and imposed new sanc­tions on Rus­sia as cryp­to and oth­er dona­tions poured into the country. 

All of the top dig­i­tal tokens were bleed­ing on Fri­day. Ethereum and Solana tum­bled 7 per cent each, where­as Avalanche and Car­dano dropped 6 per cent each. Bit­coin, Shi­ba Inu and Doge­coin shed 5 per cent each.



The glob­al cryp­tocur­ren­cy mar­ket cap declined to $1.83 tril­lion mark, drop­ping about 5 per cent in the last 24 hours. Total cryp­tocur­ren­cy trad­ing vol­ume slipped up to 10 per cent to $85.93 billion.

What’s cook­ing in India

India, the world’s largest democ­ra­cy, may make its tax pol­i­cy clear­er by tweak­ing the def­i­n­i­tion of cryp­to or vir­tu­al dig­i­tal assets. The gov­ern­ment will also include a detailed FAQ to explain the definition. 

Expert take

Bit­coin and oth­er alt­coins are show­ing signs of exhaus­tion after a strong ral­ly, fol­low­ing a fall in the riski­er asset class. The fire in Europe’s nuclear pow­er house and Rus­sia increas­ing strikes on Ukraine is not a good sign, said Kunal Jag­dale, Founder, Bit­sAir Exchange.

“Ris­ing prices of ener­gy avenues such as crude and nat­ur­al gas may hurt sen­ti­ments fur­ther. Cryp­to dona­tions to Ukraine and Rus­si­a’s ris­ing inter­est have again brought these assets in the time­light,” he added. 

Glob­al updates

Foundry Dig­i­tal, the dig­i­tal asset min­ing and stak­ing com­pa­ny, is join­ing the Blockchain Asso­ci­a­tion, a cryp­to indus­try lob­by­ing group. 

Rar­i­fy, which offers infra­struc­ture to help com­pa­nies add NFT to their plat­forms, has closed a $10 mil­lion Series A fund­ing round led by cryp­to invest­ment firm Pan­tera Cap­i­tal at a $100 mil­lion valuation. 

The US Inter­nal Rev­enue Ser­vice filed to dis­miss a law­suit from two Tezos stak­ers, say­ing the agency had already refund­ed just under $4,000 in tax­es plus inter­est to the individuals. 

Accord­ing to the mar­ket cap, most cryp­tocur­ren­cies are run­ning in red as Rus­sia esca­lates its attack, with Bit­coin and Ethereum falling, said Edul Patel, CEO and Co-founder of Mudrex. 

“To sus­tain the recov­ery phase, buy­ers will need to keep Bit­coin above the $37,000 break­out lev­el,” he added. “Since there are very few signs of exhaus­tion, it could keep the short-term buy­ers active in the cryp­to market.” 

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