Cryptocurrency Today: Bitcoin, Ethereum Up, Trading Volume Gains Over 100,000%

The crypto market recorded a marginal surge on Sunday. That came market players discovered value at lower price levels. The global crypto market value noted a 1.55% 24-hour gain within the last day to stand at $1.73trillion. Meanwhile, the trading volume experienced a 1, 06,435.67% jump to $79.22 trillion.

The world’s leading crypto traded high at $38,157 after a more than 1.43% increase. Remember, BTC has dropped over 20% since 2022 started. Moreover, the crypto stays nearly a half down from its November ATH of $69K.

The alt market also witnessed price hikes. Ether, the 2nd-largest crypto, stands at $2,605.7, following a 2.99% surge within the last 24 hours (Coinmarketcap.com). It was a green day in the overall cryptocurrency spectrum.

Cardano’s 2.33% surge had it at $1.07, while Avalanche gained 5.5% to $71.52. Polkadot recorded a 2.22% upswing, trading at $18.91. Meanwhile, Tether had a 0.01% surge to $1.0. The meme coin space rode upside waves also. SHIB experienced 1.82%, whereas Dogecoin saw a 0.75% surge to $0.1429. However, LUNA dropped 2.61% to $50.27.

Payment Company Visa declared that their clients paid over $2.5 billion using their cryptocurrency-linked cards in 2022 first fiscal quarter. That translated to more than 70% of the total crypto-card transactions in 2021, confirming increased cryptocurrency adoption.

Vasant Prabhu, Visa CFO, remained optimistic about the development during a CNBC interview. He stated that the move shows customers interested in cards linked to the crypto accounts, citing a seamless and instant way to fund payments and manage purchases.

Meanwhile, the United States federal government might be considering a controversial rule to enforce KYC policies on self-hosted cryptocurrency wallets. The US money-laundering regulator Financial Crimes Enforcement Network proposed this rue in 2020. Enacting it may mean crypto exchanges collect details such as home addresses and names for individuals transferring crypto to their private wallets.

Meanwhile, Ethereum CEO Vitalik Buterin will get $100 million back (in USDC) from over $1 billion in SHIB he donated to CryptoRelief. That is according to tweets by Buterin and Sandeep Nailwal.

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