Cryptocurrency prices today Bitcoin Ethereum XRP Cardano The global cryptocurrency market continues to decline since interest rates rose in the United States. Bitcoin is trading below $20,000 and Ethereum near $1,300.
The cryptocurrency market looks sluggish on Sunday. The world’s major cryptocurrencies, including bitcoin and Ethereum, are trading with a slight decline. The total global crypto market cap fell 0.98% to $937 billion in the past 24 hours.
According to coinmarketcap.com, in the past 24 hours, the price of Bitcoin has fallen by 0.90% to $19,349, Ethereum has fallen by 1.58% to $1,310, XRP has risen by 0.54% to $43.43, Cardano rose 0.06% to $36.42.
Large number of cryptocurrency users
Cryptocurrencies like Bitcoin and Ethereum have become popular among people over the past few years. Due to the ease of transactions and high returns, a large number of people all over the world are investing in it. According to one estimate, there are around 32 crores of crypto users globally. But the biggest disadvantage of crypto is that it has a bad effect on the environment due to its excessive use.
According to a report published by the White House, the demand for electricity used by crypto around the world is increasing rapidly every year. Estimates made in August 2022 suggested that the electricity used by crypto assets around the world could reach between 120 and 240 billion kWh per year, and that the largest countries in the world such as Argentina and Australia would use. More than full power.
Focus on green crypto
To solve this problem, recently, the second largest cryptocurrency in the world, Ethereum, changed its system from “proof of work” to “proof of stake”. Ethereum co-founder Vitalik Buterin tweeted that the Ethereum merger would reduce global electricity consumption by 0.2%.