Cryptocurrency prices today declined after surging in the previous session with Bitcoin back below the $43,000 level. The world's largest digital token was trading more than 2% lower at $42,787. Bitcoin has fallen nearly 8% since the start of the new year.
Ether, the coin linked to ethereum blockchain and the second largest cryptocurrency, tanked nearly 3% at $3,266, as per CoinDesk. On the other hand, Dogecoin prices were trading more than 9% higher at $0.17 whereas Shiba Inu plummeted nearly 7% to $0.000030. Meanwhile, Binance Coin was marginally lower at $480.
Other cryptos like Solana, Cardano, XRP, Litecoin, Polkadot, Polygon, Stellar, Uniswap, Solana also slipped over the last 24 hours while Tether, USD Coin, Binance USD. were trading with slight gains. Meanwhile, global cryptocurrency market cap today is $2.15 trillion, over 2% drop, as per CoinGecko.
Major cryptocurrency exchange Coinbase said it is buying a crypto futures exchange, FairX, as part of a move to offer crypto derivatives to traders in the United States. FairX, which was launched last year, is the operating name of LMX Labs. It sells futures products and is regulated by the U.S. Commodity Futures Trading Commission (CFTC). Coinbase said it wants to make trading of regulated crypto derivatives accessible to retail and institutional customers.
Cryptocurrency investment products and funds had net outflows in first week of 2022, totaling a record $207 million, a report from digital asset manager CoinShares showed. The sector has experienced four consecutive weeks of outflows since mid-December, reaching a total of $465 million, or 0.8% of total assets under management.
(With inputs from agencies)
