Daily Times

The cryptocurrency market remained mixed on Thursday, with market capitalisation gaining 0.8 percent to reach $2.26 trillion.

As of 1420 hours GMT, the largest cryptocurrency Bitcoin’s (BTC) price inched down 0.06 percent to reach $47,185. With this decrease in price, the market capitalisation of the biggest crypto has reached $893.5 billion. Bitcoin has gained 10.1 percent during the last seven days.

Ether (ETH), the world’s second-largest cryptocurrency by market capitalisation, inched up 0.57 percent to reach $3,412. With this increase in price, the market capitalisation of ETH has reached $401.5 billion. ETH has been 12.4 percent up in the past seven days.

Similarly, XRP price went 0.28 percent up to reach $0.868. The market capitalisation of XRP stands at $86.7 billion with this increase. XRP has gained 3.4 percent during the last seven days.

Following suit, Cardano (ADA) price increased by 1.21 percent to reach $1.21. Its market capitalisation has reached $39.8 billion with this increase. ADA gained 9.2 percent in the past seven days.

Similarly, Avalanche (AVAX) price jumped by 7.6 percent to $99.55. With this increase in price, the market capitalisation of AVAX has reached $26.6 billion. AVAX has gained 15.4 percent during the last seven days. Dogecoin (DOGE) price increased by 1.61 percent to $0.145. With this increase in price, the market capitalisation of DOGE has reached $19.3 billion. DOGE has gained 12.1 percent during the last seven days.

Meanwhile, the International Monetary Fund (IMF) has said that a lot more work needs to be done on crypto regulation. “We’ve certainly seen an increase in the use of cryptocurrencies before this war, and we’ve seen it happen more in emerging markets than in others,” said IMF Deputy Managing Director Gita Gopinath while discussing crypto regulation on the Foreign Policy Live podcast.

IMF Managing Director Kristalina Georgieva said that the IMF separates digital assets into three types: “crypto assets like bitcoin,” stablecoins, and central bank digital currencies (CBDCs). Regarding crypto assets, she said: “Time has passed to have regulatory frameworks that are as much as possible harmonised around the world.

And I do hope that what we now see that there may be more attention to this topic translates into appropriate policy action,” Georgieva added.