The cryptocurrency market turned bearish on Monday, with market capitalisation losing 2.8 percent to reach $1.92 trillion.
As of 1310 hours GMT, the largest cryptocurrency Bitcoin’s (BTC) price slipped 2.61 percent to $39,383. With this decrease in price, the market capitalisation of the biggest crypto has reached $746 billion. Bitcoin has shed 6.6 percent of its value during the last seven days.
Ether (ETH), the world’s second-largest cryptocurrency by market capitalisation, dipped by 3.70 percent to $2,938. With this decrease in price, the market capitalisation of ETH has reached $345 billion. ETH has been 8.5 percent down in the past seven days. Similarly, XRP price decreased by 4.32 percent to reach $0.746. The market capitalisation of XRP stands at $74.6 billion with this decrease. XRP has shed one percent of its value during the last seven days.
On the other hand, Cardano (ADA) price decreased by 5.55 percent to reach $0.902. Its market capitalisation has reached $29.7 billion with this decrease. ADA has shed 12.6 percent of its value in the past seven days.
Similarly, Avalanche (AVAX) price went down by 4.5 percent to $74.54. With this decrease in price, the market capitalisation of AVAX has reached $20 billion. AVAX has shed 9.2 percent of its value during the last seven days.
Likewise, Dogecoin (DOGE) price slipped by 5.08 percent to $0.137. With this decrease in price, the market capitalisation of DOGE has reached $18.1 billion. DOGE has shed 8.9 percent during the last seven days. Meanwhile, the Ministry of Finance of Russia has submitted to the government an updated version of its bill “On Digital Currency” designed to comprehensively regulate the country’s crypto market.
According to the draft, qualified investors will have unrestricted access to crypto assets. Ordinary Russians, however, will be able to buy a maximum of 600,000 rubles (approximately $7,000) worth of cryptocurrency each year. And that’s after they take a special exam. Those Russian residents who fail to pass the test will be allowed to only acquire coins with a total value not exceeding 50,000 rubles annually.
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