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

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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

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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

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Ethereum is trading at ₹2.1 lakh

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

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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

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Another crypto token to take a large hit is Avalanche

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

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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

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

The cryptocurrency is priced at ₹9,385

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

The cryptocurrency is down by nearly 5 percent

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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

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

The cryptocurrency is trading at ₹1,669

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Meme coin DOGE is trading at ₹11.27

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

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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.

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