Over the previous 24 hours, the worldwide cryptocurrency market valuation has dropped 5.17 percent to $1.88 trillion. This happens while trading activity has dropped 11.81 percent to $66.35 billion.
Stablecoins accounted for 76.45% of the overall 24-hour crypto transaction volume, or $50.72 billion. On the other hand, decentralized finance (DeFi) contributed about 12.6% of the volume, at $8.38 billion. Bitcoin’s market dominance increased by 0.18 percent to 40.42 percent this morning. It was traded at $39,913.93.
Altcoins
Bitcoin is down 4.02 % to USD 43328.51, while Ethereum has dropped 5.43 % to USD 3174.67. Avalanche fell 7.13 % to USD 83.25, while Cardano fell 7.15 % to USD 1.35. Over the last 24 hours, Polkadot has dropped 5.47 % to USD 24.84. Furthermore, Litecoin has dropped 7.3 % to USD 137.62.
The value of Tether increased by 1.01 % to USD 1.08. Dogecoin plummeted 5.22 percent to USD 0.17, while Memecoin SHIB dropped 5.11 percent. Terra (LUNA) fell 2.7 % to USD 85.08 per share.
Crypto.com
Following a recent security compromise, Crypto.com, the sector’s fourth-largest cryptocurrency exchange, admits it lost consumer assets. As a result of the incident, 483 people were directly affected. This resulted in unlawful withdrawals of 4,836.26 Ethereum, 443.93 Bitcoin, and nearly $66,200 in other digital currencies, or approximately $33.84 million at the present rate.
Crypto.com quickly halted withdrawals after discovering that a piece of the protection layers had been breached. They also repaired the problem, and were back up and running in around 13 to 14 hours.
In related news, Crypto.com has launched the Worldwide Account Protection Program (WAPP). Its purpose is to protect the funds of users in certain situations. One of these is where a third party acquires an unlawful login to their account and withdraws assets without the user’s consent. WAPP allows for the restoration of funds up to $250,000.
Trading Crypto
The Securities and Exchange Commission (SEC) will be more scrutinizing cryptocurrency exchanges, as per SEC chair Gary Gensler, as reported by Bloomberg.
He had directed staff to look into every option for bringing these sites into the scope of investor protection. This year will be another year where consumers are not protected. This is if the markets do not join the regulated sector, the SEC head allegedly remarked in a video conference.
Certain Twitter users will be able to transfer NFTs from their cryptocurrency wallets. They will use them as profile images on the popular social media platform, according to a recent announcement. For the time being, the option is only available to individuals who subscribe to Twitter Blue and sign up for the Labs feature. Twitter is also restricting the rollout to iOS.
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