The government of Kosovo has initiated crackdowns on crypto mining in a bid to tackle the electricity shortage. Meanwhile, the price of Bitcoin fell 0.47 per cent, while Ethereum was down 0.35 per cent in the last 24 hours.
To tackle the electricity shortage issue; Kosovo, a partially recognised state in Southeast Europe has started a crackdown on crypto mining. In recent action, Kosovo Police have seized a total of 300 crypto mining machines during the raid in the regions of Leposavic and Prishtina after Kosovo imposed a blanket ban on crypto mining on January 5, according to various media reports.
The global crypto market capitalisation of cryptocurrencies crossed $1.97 trillion and was up by 1.49 per cent over the last day. The price of Bitcoin (BTC) was down by 0.47 per cent and was trading at $41,644.63 in the last 24 hours. Bitcoin dominance in the global crypto market was 40.39 per cent, down by 0.04 per cent in the last 24 hours, according to Coinmarketcap data.
Ethereum's (ETH) price fell by 0.35 per cent in the last 24 hours, and it was trading at $3,114.77. Binance Coin (BNB) was in the green, up by 0.12 per cent; it was trading at $434.86. Among other major coins, Solana (SOL) fell by 0.24 per cent to $140.01, while Cardano (ADA) was down by 0.62 per cent to $1.16.
Meme Coins
All major meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), Dogelon Mars (ELON) and Samoyedcoin (SAMO) have shown minimal changes in the last 24 hours.
On January 10, Dogecoin's price was $0.1499, down by 1.10 per cent in the last 24 hours. Rival Shiba Inu was down by 1.51 per cent and was trading at $0.00002803, Dogelon Mars (ELON) was down by 0.93 per cent and was trading at $0.000001244, while Samoyedcoin (SAMO) was trading at $0.03148 and recorded a rise of 0.74 per cent.
Top Gainers And Losers
NinjaFolki (NJF) became the biggest gainer, recording a rise of 950.55 per cent; it was trading at $0.0000684 at 5:00 pm IST. On the other hand, Hatoken (HATOK) witnessed maximum loss, falling 98.21 per cent; it was trading at $0.0000000001582.
Latest Update
Global investment bank JPMorgan has published a report on the future outlook of crypto markets, including Ethereum’s upgrades, decentralized finance (defi), and non-fungible tokens (NFTs). The bank sees “the cryptocurrency markets as increasingly relevant to financial services,” Bitcoin.com quoted its analyst.
The rise of crypto technology will be fuelled by the scaling of Layer-1 and the launch and growth of Layer-2, Bitcoin.com cited the analyst.
MetaMall - the metaverse of high-end real estate, incepted in 2021, has recently sold more than $1 Mn of land as NFTs in its virtual skyscraper shopping mall, within 7 days of its release. These NFTs can be used to build stores, experience centres, arenas, etc. for virtual reality experiences which can further be rented or staked to earn revenue.