The majority of cryptocurrencies were trading in the red in early trade on April 9, the. During the last 24 hours, the global crypto market fell 2.8 percent to USD1.96 trillion, while total crypto market volume increased 9.4 percent to USD89.50 billion.

The overall volume in DeFi was USD13.13 billion, accounting for 14.67 percent of the entire 24-hour volume in the cryptocurrency market. All stable coins, on the other hand, had a 24-hour volume of USD74.34 billion, accounting for 83.06 percent of the overall cryptocurrency market volume.

Bitcoin, the world's largest cryptocurrency, lost 0.03 percent of its market share to 40.99 percent.

All major cryptos fell in value, with the exception of Tether USD, which rose 0.55 percent. Bitcoin fell by more than 2 percent, while Ethereum fell by more than 1 percent. In early trade today, Dogecoin fell nearly 6 percent, Avalanche fell 5.8 percent, and Ripple fell over 3 percent.

In other news, the European Union (EU) targeted cryptocurrency wallets, banks, currencies, and trusts in its fifth package of sanctions against Russia on Friday, in an effort to eliminate potential loopholes that would allow Russians to shift money overseas.

Following Russia's invasion of Ukraine on February 24, EU-based crypto exchanges were already required to implement sanctions prohibiting transactions from certain persons, but there were fears that loopholes remained.

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