New Delhi: The cryptocurrency market saw profit-taking on Thursday, snapping a two-day gaining streak, with Altcoins seeing the most selling pressure.

The market's mood was further soured by poor earnings from Meta. Worse-than-expected guidance for the current quarter compounded the problems. Meanwhile, the DeFi space was impacted by the wormhole hole network being offline for maintenance. The trade volumes remained low as well.

Except for the USD Coin, which is connected to the US dollar, all of the top ten digital tokens were trading down on Thursday. Terra and Solana both lost 9 percent of their value, while Cardano lost 6 percent.

The global crypto market capitalization fell by more than 4 percent to USD 1.70 trillion. The total crypto market volume, however, increased by more than 5 percent to USD 68.31 billion.

According to officials and industry experts familiar with the situation, India's central bank may consider other "centralised" technology models besides blockchain — the popular digital transaction ledger — to host its proposed digital currency.

Finance Secretary assures Bitcoin, Ethereum, NFT will never become legal tender

India says to be launching a digital rupee as early as this year

Budget 2022: Govt's big decision on cryptocurrencies, shock of 30% tax