Top cryptocurrency prices today: Ethereum, Solana, Shiba Inu, Avalanche drop up to 15%

economictimes.indiatimes.com:

Bitcoin, which is considered the least risky of digital assets, held some ground, amid ongoing concerns about high inflation and economic downturn. Bitcoin's market cap has recently spiked relative to other cryptocurrencies. Barring the stablecoin USD Coin, all crypto tokens were trading sharply lower on Friday. Avalanche tumbled 15 per cent, whereas Solana plunged 11 per cent. Ethereum, Shiba Inu and Cardano dropped 9 per cent each.

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Asia’s first crypto exchange-traded fund (ETF) could be launched in India’s GIFT City this year by Torus Kling Blockchain

The global cryptocurrency market cap was trading lower at $1.20 trillion, dropping more than 5 per cent in the last 24 hours. However, the total cryptocurrency trading volume zoomed as much as 50 per cent to $103.25 billion.What's cooking in IndiaThe Coinbase CEO sowed the seed of a Supreme Court challenge by tweeting to ask if the RBI's «shadow ban» – in which payment processors cut off local crypto exchanges – was a violation of a 2020 Supreme Court ruling. His tweet came following his company's ill-fated India launch, which led to Coinbase exiting the country days later. Armstrong later pointed to «informal pressure» from the RBI as a reason for the exit.Expert takeBitcoin fell to the $28,000 level on Thursday as bearish pressure continued to increase, heading towards the weekend, said Edul Patel, CEO and Co-founder of Mudrex. With Bitcoin and Ethereum falling below their support levels, selling pressure increased, creating fear among the market participants, he added. «But a drop from $28,000 level could result in Bitcoin going even lower.» Over the past 24 hours, despite a strong rise in the equities, crypto markets have been