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Cryptocurrencies tumble in trade, wipe out $150 billion marketcap in 24 hours

Updated : January 21, 2022 22:34:23 IST

Bitcoin, Ether and several other cryptocurrencies tumbled in trade. Nearly USD 150 billion in market capitalisation was wiped out in 24 hours.

The Russian central bank on Thursday proposed banning the use and mining of cryptocurrencies on Russian territory, citing threats to financial stability, citizens' wellbeing and its monetary policy sovereignty.

All cryptocurrencies are down for the year with Bitcoin falling 16 percent and Ether falling 22 percent.

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