Bitcoin slips while XRP, Avalanche gain. Check cryptocurrency prices today

A representation of the virtual cryptocurrency Ethereum is seen among representations of other cryptocurrencies in this picture illustration (REUTERS) — A representation of the virtual cryptocurrency Ethereum is seen among representations of other cryptocurrencies in this picture illustration **(REUTERS)**

1 min read . Updated: 08 Mar 2022, 07:50 AM IST Livemint

Ether, the coin linked to ethereum blockchain & the second-largest cryptocurrency, declined over 1% lower

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Cryptocurrency prices today were mixed with Bitcoin continued to trade below the $39,000 level. The world's most popular and largest cryptocurrency was trading almost flat at $38,279, 0.2% lower. The digital token is down about 17% in 2022 (year-to-date or YTD) so far. However, it is about 30% far away from its record high of near $69,000 it had hit in November last year.

Ether, the coin linked to the ethereum blockchain and the second-largest cryptocurrency in terms of market capitalization, also declined over a per cent 4% to $2,520. On the other hand, dogecoin price tanked 2% at $0.11 whereas Shiba Inu plummeted more than 2% to $0.000023.

The performance of other digital tokens were mixed as Avalanche, Stellar, XRP, Uniswap gained while Terra, Solana, Polygon, Litecoin, Cardano, Polkadot, prices were trading with cuts over the last 24 hours.

Meanwhile, the global cryptocurrency market capitalisation remained below the $2 trillion mark at $1.79 Trillion, a 0.2% change in the last 24 hours, as per CoinGecko.

President Joe Biden is expected to sign an executive order on cryptocurrency this week that will mark the first step toward regulating how digital currency is traded, suggested a report by Reuters. The move comes as administration officials have raised concerns in recent weeks about Russia's use of cryptocurrency to evade the impact of crushing sanctions in response to its invasion of Ukraine.

Russian investors appear to continue to conduct transactions in Bitcoin and other cryptocurrencies. While the overall flows appear to be relatively small, data from blockchain analytics firm Kaiko show that ruble-denominated Bitcoin trading volume rose Saturday to its highest level this year, reported Bloomberg.

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(With inputs from agencies)

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