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Crypto markets in red, global market cap shrinks to $1.85 trillion

In the last 24 hours, cryptocurrency markets have been on the decline. According to CoinMarketCap data, the global market cap has dropped 1.73% in the last 24 hours and is now $1.8 trillion as of 8:00 a.m. IST.

Bitcoin is currently priced at $39,782, down 1.45%. Ethereum is now priced at $2,993 after falling 2.02%.

In the previous 24 hours, the USDT Tether stablecoin has remained unchanged, while the USDC stablecoin has dropped by 0.04 %.

The BNB token has lost 2% of its value.

In the last 24 hours, XRP Ripple has also lost 2.09%.

The ADA token is now down 2.76%.

In the last 24 hours, Terra LUNA was likewise down 3.13%.

Solana lost 0.94% of its value. Avalanche has lost 2.13% of its value.

The overall trend in the crypto markets is gloomy. Despite favourable rules from some governments and adoption by businesses such as McDonald’s, Starbucks, and Walmart, bitcoin tokens continue to decline.

Crypto trading in India has also taken a hit as a result of the imposition of a 30% tax on crypto gains, which went into effect on April 1. Furthermore, trade has been substantially hampered as a result of liquidity providers pulling out due to poor market sentiments.

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