The consolidation of Bitcoin and Ethereum on march 17,2022. Cryptocurrency Prices Today on March 17: Bitcoin, Ethereum rise as Ukraine legalises cryptos
A sudden effective decision
The total volume in the decentralized finance (DeFi) space stood at $14.37 billion, around 13.63 percent of the aggregate 24-hour cryptocurrency trading volume. The total volume in the stablecoins stood at $89.15 billion, making up 84.57 percent of the 24-hour cryptocurrency trading volume. Bitcoin’s market dominance was up 0.15 percent to 42.77 percent and the largest currency in the crypto space was trading at $41,118.45, breaching the $40,000 mark on the morning of March 17. In rupee terms, Bitcoin rose 2.13 percent to trade at Rs 31,93,968 while Ethereum rose 3.44 percent to Rs 2,15,659.
The consolidation of Cryptocurrancy
The global cryptocurrency market capitalization jumped 3.85 percent over the last 24 hours to $1.83 trillion, while trading volumes rose 42.02 percent to $105.42 billion during this period.
The total volume in the decentralized finance (DeFi) space stood at $14.37 billion, around 13.63 percent of the aggregate 24-hour cryptocurrency trading volume. The total volume in stablecoins stood at $89.15 billion, making up 84.57 percent of the 24-hour cryptocurrency trading volume.
Bitcoin’s market dominance was up 0.15 percent to 42.77 percent and the largest currency in the crypto space was trading at $41,118.45, breaching the $40,000-mark on the morning of March 17.
In rupee terms, Bitcoin rose 2.13 percent to trade at Rs 31,93,968 while Ethereum rose 3.44 percent to Rs 2,15,659.
Cardano was up 1.37 percent to trade at Rs 65.02 and Avalanche rose 5.23 percent to Rs 5,886.90. Polkadot was up 3.17 percent to Rs 1,490 and Litecoin tumbled 0.59 percent to Rs 8,590 in the last 24 hours. Tether was down 0.6 percent to Rs 77.85.
Memecoin SHIB was up 1.38 percent, trading at Rs 0.0017 while Dogecoin rose by 0.95 percent to trade at Rs 9.12. Terra (LUNA) dipped 3.37 percent to Rs 6,840, while Algorand (ALGO) dropped 0.92 percent to Rs 56.92
In other news, amidst its ongoing conflict with Russia, Ukrainian President Volodymyr Zelensky has officially signed a law “On Virtual Assets” legalizing cryptocurrency assets in the country.
The signed law defines what is considered a crypto asset and taps the National Bank of Ukraine and its National Commission on Securities and Stock Market as crypto regulators, and establishes other regulations surrounding who can offer cryptocurrencies and how they must be registered in Ukraine.
An earlier version of this bill was proposed last September, but President Zelensky requested changes. The Ukrainian government first introduced the revised version of the bill on February 17. Today’s signing makes it official in the European nation. Deputy Minister of Digital Transformation Alex Bornyakov tweeted that the new crypto law will play a “vital role in Ukraine’s defense process.“
Notably, this move by the embattled European nation does not mirror that of El Salvador, which adopted Bitcoin as its legal tender last year.
President Volodymyr decision on Cryptos
Meanwhile, amidst the war in Ukraine, President Volodymyr Zelensky has officially signed a law “On Virtual Assets” focussing on legalizing cryptocurrency assets in the war-torn country. The law concentrates on what is considered a crypto asset and considers the National Bank of Ukraine and its National Commission on Securities and Stock Market as crypto regulators. Besides, it also establishes other regulations surrounding who can offer cryptocurrencies and how they must be registered in Ukraine.
Earlier in September, an old version of the bill was proposed, however, Zelensky requested changes. The Ukrainian government first introduced the reworked bill on February 17. Zelensky’s sign today makes it official in the European Union. Deputy Minister of Digital Transformation Alex Bornyakov tweeted that the new crypto law will play a “vital role in Ukraine’s defense process.”