Daily Times

The cryptocurrency market turned bearish on Sunday, with market capitalisation shedding 0.8 percent to reach $2.25 trillion. As of 1430 hours GMT, the largest cryptocurrency Bitcoin’s (BTC) price dipped 0.96 percent to reach $46,193. With this decrease in price, the market capitalisation of the biggest crypto has reached $874.7 billion. Bitcoin has gained 3.7 percent during the last seven days.

Ether (ETH), the world’s second-largest cryptocurrency by market capitalisation, inched down by 0.28 percent to reach $3,481. With this decrease in price, the market capitalisation of ETH has reached $409.6 billion. ETH has been 10.7 percent up in the past seven days.

Similarly, XRP price went 1.60 percent down to reach $0.830. The market capitalisation of XRP stands at $83 billion with this decrease. XRP has shed 0.2 percent during the last seven days.

Following suit, Cardano (ADA) price decreased by 1.68 percent to reach $1.17. Its market capitalisation has reached $38.6 billion with this decrease. ADA gained 1.6 percent in the past seven days.

Similarly, Avalanche (AVAX) price dipped 3 percent to $98.32. With this decrease in price, the market capitalisation of AVAX has reached $26.3 billion. AVAX has gained 14.2 percent during the last seven days.

The case with Dogecoin (DOGE) was similar as its price decreased by 2.30 percent to $0.140. With this decrease in price, the market capitalisation of DOGE has reached $18.6 billion. DOGE has gained 3.2 percent during the last seven days.

Meanwhile, a high-ranking representative of the ministry of finance in Moscow sees no point in banning crypto mining in Russian households as it would be hard to restrict the activity. The top official also revealed that the department is currently finalising regulations for the mining sector as part of efforts to legalise Russia’s crypto space.

Trying to prohibit at-home crypto mining makes no sense as it would be difficult to impose such a ban, according to Alexey Yakovlev, deputy director of the Financial Policy Department at the Ministry of Finance of Russia. He made the statement at a round table discussion devoted to the legalisation and regulation of the industry.