Russia crypto ban fears sparks FUD – Cardano and Avalanche hit the hardest

Jan 21, 2022 By: BI India Bureau

The crypto market is bathing in red

Russia’s proposal to ban crypto has sparked FUD in the market Credit: Canva

The country’s central bank has proposed a complete ban on crypto trade and mining

It is currently among the top three countries for Bitcoin mining Credit: Canva

The overall crypto market capitalisation now stands at $1.83 trillion

Its value has taken a hit of more than 7 percent in just the last 24 hours Credit: Business Insider India

Bitcoin is trading at ₹28 lakh

It’s down by nearly 8 percent since yesterday Credit: Canva

Ethereum is trading at ₹2.1 lakh

The smart-contract coin has dipped by more than 9 percent Credit: Canva

Meanwhile, Cardano has suffered losses in the double-digits

The cryptocurrency is trading at ₹90 after falling by more than 10 percent in the last 24 hours Credit: Canva

Another crypto token to take a large hit is Avalanche

It’s down by nearly 10 percent, currently priced at ₹5,631 Credit: Canva

Binance Coin is priced at ₹31,859

The token, which powers one of the biggest crypto exchanges in the world, took a 8 percent hit Credit: Canva

‘Ethereum Killer’, Solana, is also down by 8 percent

The cryptocurrency is priced at ₹9,385 Credit: Canva

Terra’s LUNA is no longer immune to the overall market

The cryptocurrency is down by nearly 5 percent Credit: Canva

LUNA was so far in the green, while the rest of the market saw a downturn

Currently, it’s the token is trading ₹5,778 Credit: Canva

Meanwhile, Polkadot has taken a hit of more than 8 percent

The cryptocurrency is trading at ₹1,669 Credit: Canva

Meme coin DOGE is trading at ₹11.27

The cryptocurrency lost nearly 8 percent of its value in the last 24 hours Credit: Canva

Disclaimer

These are top cryptocurrencies by volume according to Coinbase | Crypto prices in rupees updated as of January 21, 9:00 am IST and may change over the course of the day. Credit: Canva