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After making decent gains over the past few days, cryptocurrency traders have turned defensive as tensions between Russia and Ukraine intensify. The most famous in the world Cryptocurrency It fell 0.96 percent at $40,229.01, according to coinmarketcap.com. bitcoin It’s down about 6 percent in 2022 (year-to-date) so far. Bitcoin has fallen about 35 percent since peaking at roughly $69,000 in November last year as risk aversion builds as the Fed and other global central banks begin to tighten financial conditions and remove pandemic-era liquidity from the system.
On the other hand, Ether, the currency tied to the Ethereum blockchain and the second largest cryptocurrency by market capitalization, fell 5.57% to $3,015.28. Similarly, Binance Coin stock fell about 2 percent to $413.
The global cryptocurrency market capitalization decreased by 1.47 percent over the past 24 hours to $1.83 trillion while trading volumes decreased by about 16.75 percent to $72.95 billion. While decentralized finance (DeFi) accounted for 12.29 percent of the cryptocurrency’s 24-hour trading volume at $8.97 billion, stablecoins accounted for 80.75 percent of the same value at $58.91 billion.
Lawmakers in Wyoming, USA have proposed the Wyoming Stable Tokens Act (SF0106), which paves the way for the crypto-friendly country to launch its own dollar-pegged token.
The proposed bill is sponsored by state senators Chris Rothfuss and Tara Nethercott, along with state representatives Mike Yen and Jared Olsen. The law would allow Wyoming’s treasurer, Curtis Meyer Jr., to create a stablecoin for the state pegged to the US dollar. The token will be redeemable for $1 held by the country in trust.
Senior staff at the Federal Reserve will no longer be able to hold cryptocurrencies, among other assets like stocks, according to today’s announcement.
In a statement from the Federal Open Market Committee (FOMC), the branch of the Federal Reserve that sets the direction of monetary policy, the new rules are laid out for the “investment and business activity of senior officials.”
The Federal Open Market Committee said senior Fed officials can no longer buy cryptocurrencies, individual stocks or sector funds, or hold investments in individual bonds, agency securities, commodities or foreign currencies. They also cannot enter into derivative contracts, engage in short selling or buy securities on margin.
Here are the top 10 cryptocurrencies and their prices on February 19, 2022 (data from coinmarketcap.com at the time of publication of this article)
Bitcoin $40,229.01 or a loss of 0.96 percent over the past 24 hours
Ethereum $2,816.41, or a loss of 2.49 percent in the last 24 hours
Cardano $1.01, or a loss of 2.17 percent, over the past 24 hours
Hook $1.01 or 0.02 percent in the last 24 hours
Terra $51.95, or 2.13 percent, gain in the last 24 hours
XRP $0.7933, or 1.09 percent, over the past 24 hours
Solana $91.93, or 2.34 percent loss, over the past 24 hours
An avalanche of $84.63, or a 4.59 percent loss, over the past 24 hours
Binance $1.00 or 0.04 percent gain in the last 24 hours
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