Bitcoin, dogecoin, Shiba Inu slip while Cardano, Polygon gain

In cryptocurrencies, Bitcoin price today slipped below $43,000 as the world’s most popular and largest digital token was trading around 0.5% lower at $42,873. Bitcoin has fallen nearly 7% since the start of the new year ( year-to-date or YTD). Meanwhile, the global cryptocurrency market cap today is flat at $2.19 trillion, as per CoinGecko.

Ether, the coin linked to ethereum blockchain and the second largest cryptocurrency, tanked at $3,323, as per CoinDesk. On the other hand, Dogecoin prices were trading more than 4% lower at $0.17 whereas Shiba Inu plummeted nearly 2% to $0.000030. Similarly, Binance Coin was marginally lower at $495.

The performance of other cryptos were mixed as Solana, XRP, Litecoin, Polkadot, Stellar, Terra, Tether also slipped over the last 24 hours while Cardano, Polygon, Uniswap were trading with gains. 

Last week, Elon Musk tweeted that Tesla will accept meme-based cryptocurrency dogecoin as payment for its merchandise such as the “Giga Texas” belt buckle and mini models of electric vehicles. The move, which sent dogecoin prices 14% higher, comes a month after Musk said Tesla would test out the digital token as a payment option.

In another news, a Bloomberg report stated that Walmart Inc is preparing to create its own cryptocurrency and collection of non-fungible tokens (NFTs), filings with the U.S. Patent and Trademark Office show. The retailer sought several new trademarks in December that show it intends to make and sell virtual goods such as electronics, decor, toys, sporting goods and personal-care products.

(With inputs from agencies)

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