The global crypto market capitalization fell 4.16 percent to USD2.25 trillion in the last 24 hours, but trading volume increased 19.03 percent to USD103.21 billion.

Stablecoins (USD81.57 billion) accounted for 79.03 percent of the trading volume, while DeFi (USD19.05 billion) contributed for 18.46 percent. On the morning of December 29, Bitcoin's market dominance slipped 0.02 percent to 40.16 percent.

In terms of major cryptocurrencies, Bitcoin lost 3.26 percent to Rs 38,41,485 while Ethereum fell 3.68 percent to Rs 3,05,821.8. Cardano (Rs 112.98) has lost 4.33 percent of its value. Over the last 24 hours, Avalanche (Rs 8,676.33) has dropped 3.6 percent, Polkadot (Rs 2,300) has down 3.17 percent, and Litecoin (Rs 11,833.26) has dropped 4.16 percent. Tether gained 0.86 percent to Rs 80.

SHIB, a memecoin, declined 3.67 percent, while DOGE fell 2.74 percent to Rs 14.15. Bitcoin is currently trading at Rs 38,41,485, whereas LUNA is currently trading at Rs 6,950, down 6.33 percent.

In a recent study, the RBI stated that it would like to create a basic central bank digital currency (CBDC) before launching a more complex version. A central bank digital currency (CBDC), in their words, is primarily "a safe, robust, and easy substitute to actual cash."

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