Top cryptocurrency prices today: Bitcoin, Ethereum, Cardano drop up to 10%

economictimes.indiatimes.com:

Crypto prices continued to slide on Thursday, following sluggish macroeconomic conditions, rise in oil prices and tapering cues from the Federal Reserve. Rising inflation and slump in the technology market added to the woes.Bitcoin once again slipped below the $42,000 mark but Ethereum was able to hold $3,200 levels. The trading volumes remained light during early trade as the market witnessed a sharp churn due to the changing economic environment. Barring Terra and dollar-pegged stablecoins, all other seven out of top-10 digital tokens were trading lower during the early trade on Thursday. Cardano posted double digit cuts.

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The global crypto market cap dropped more than a per cent and breached the $2 trillion mark, thanks to constant selling. Also, the total crypto market volumes were down about 3 per cent at $75.18 billion. Ethereum is starting to test the closely watched $3,000 price threshold as the broader drop in risk appetite in some of the more speculative areas of market continues to weigh on some of last year’s best performing assets.What's cooking in India The government has sought the views of tax experts on disclosure and taxation guidelines for companies and family offices that hold cryptocurrencies, said two people aware of the matter. Companies currently have to disclose any holdings or dealings in cryptocurrencies or crypto assets in their filings with the Registrar of Companies. The government could clarify the tax implications of such investments in the upcoming Budget. In other news, Sahicoin, a social platform for crypto