Top cryptocurrency prices today: Bitcoin dips below $40,000, other altcoins bleed

economictimes.indiatimes.com:

Russia must ban cryptocurrencies, the country's central bank said in a report released Thursday. The report says cryptocurrencies are volatile and widely used in illegal activities such as fraud. The sluggish macroeconomic conditions, rise in oil prices and tapering cues from the Federal Reserve, rising inflation and slump in technology market added to woes of traders.

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Barring Terra and dollar-pegged stablecoins, all other seven out of top-10 digital tokens were trading lower during early trade on Thursday. Cardano posted double-digit cuts. The global crypto market cap tanked more than 5 per cent and slipped to $1.87 trillion mark, thanks to constant selling. Also, the total crypto market volume dropped over 11 per cent to $66.73 billion.Bitcoin once again slipped below the $40,000 mark and Ethereum slipped below $3,000 level. All top 20 tokens were trading in red at the time of writing this report.What's cooking in India?India's crypto investors and platforms are awaiting the upcoming Budget for clarity on regulations and taxations. While the regulations and the bill related to it has taken a back seat for a while, India is likely to levy high tax rates between 30-40 per cent on crypto assets, suggests various reports.Expert's TakeAs Russia, one of the largest crypto adopters in the world, announced its plans for a blanket ban on crypto, the digital asset market plunged back into the red, CoinDCX Research Team. Other altcoins also nosedived with yet another economic powerhouse taking a hard stance against crypto, it added. «While this may