Cryptocurrency prices are down today after rising 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 is down nearly 8% since the start of the new year.
Ether, the coin linked to the Ethereum blockchain and the second largest cryptocurrency, is down nearly 3% at $3,266, according to CoinDesk. On the other hand, Dogecoin price was trading 9% higher at $0.17, while Shiba Inu price was down nearly 7% to $0.00030. Meanwhile, Binance stock is marginally down at $480.
Other cryptocurrencies such as Solana, Cardano, XRP, Litecoin, Polkadot, Polygon, Stellar, Uniswap and Solana have also fallen in the last 24 hours while Tether, USD Coin and Binance USD are also down. It was trading with slight gains. Meanwhile, the global cryptocurrency market capitalization today is $2.15 trillion, down more than 2%, according to CoinGecko.
Coinbase, the major cryptocurrency exchange, said it is buying crypto futures exchange, FairX, as part of a move to offer crypto derivatives to US traders. FairX, launched last year, is the operating name of LMX Laboratories. It sells futures products and is regulated by the US Commodity Futures Trading Commission (CFTC). Coinbase said it wants to make regulated crypto derivatives trading more accessible to both individual and institutional clients.
A report by digital asset manager CoinShares showed that cryptocurrency investment products and funds saw net outflows in the first week of 2022, totaling $207 million. The sector has seen four consecutive weeks of outflows since mid-December, reaching a total of $465 million, or 0.8% of total assets under management.
(with input from agencies)
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