02 Dec , 2021 By : Kanchan Joshi
Bitcoin prices today were trading lower, though, above the $57,000 mark as the world's largest and most popular cryptocurrency was trading at $57,032, down 0.6%. Bitcoin price had recently hit record high of around $69,000 and is up over 99% this year (year-to-date or YTD) so far. Meanwhile, global crypto market cap slipped marginally to $2.76 trillion, as per CoinGecko.
On the other hand, Ether, the coin linked to ethereum blockchain and the second largest cryptocurrency, plunged over 2% to $4,598. Dogecoin price declined over 4% to $0.20 whereas Shiba Inu rose tumbled more than 10% to $0.000043, as per CoinDesk. Other cryptos like Litecoin, XRP, Polkadot, Uniswap were also trading with cuts over the last 24 hours whereas Solana, Polygon, Terra gained.
The top executives of eight major cryptocurrency firms, including Coinbase Global Inc, will testify before the US House Financial Services Committee on December 8, reported Reuters. The hearing marks the first time major players in the rapidly growing crypto markets will testify before lawmakers, as policymakers grapple with the implications of the new financial product and how to best regulate it.
In another news, Meta Platforms Inc., the parent of Facebook and Instagram, is making it easier for companies to run advertisements promoting cryptocurrencies on its social media pages.
Previously, many marketers who wanted to promote cryptocurrency or related businesses had to submit an application including any licenses they have obtained and whether they are traded on a public stock exchange, among other information. Now, the company will accept an ad if advertisers, such as exchanges or crypto wallets, have one of 27 eligible regulatory licenses.
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