Cryptocurrency news: Solana up by 7.8%, Binance Coin down by 5.0%

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Six of the top ten cryptocurrencies were trading in red on Friday, with Binance Coin showing the highest decline of 5.04% to $474.89. While Solana showed the highest incline of 7.81% to $199.55. The world’s oldest and largest cryptocurrency Bitcoin had declined by 3.70% to $62,711.28. Ethereum, the second-largest token fell by 2.31% to $4,104.34. Dogecoin on the other hand increased by 3.35% to $0.24. However, Cardano and XRP slipped by 2.99% and 3.58% respectively. In terms of ranking, all the cryptocurrencies remained in the same position, except for USD Coin moved from the tenth position to ninth position.

Cryptocurrency prices

Vitalik Buterin clears off Dogecoin wallet from his collection

Ethereum, co-founder, Vitalik Buterin has been clearing his Dogecoin collection copy cats like Small Doge, Baby Shiba, and Kishu Inu among others. Recently, Buterin has reportedly sold-off around $4.3 million (roughly over Rs 32 crore) worth of dog-themed meme-coins from his wallets.

Some of these coins were utilised to purchase tokens from Proof of Humanity’s UBI initiative and burn them. Proof of Humanity is an Ethereum based social verification system for humans in partnership with Klerosand Democracy Earth.

Several Dogecoins had fallen sharply by 72%, with the coin presently trading at $0.00000183. Buterin is known for swapping his dog coins for funds that he invests in areas related to community services.

Crypto miners in Belarus and Russia subjected to higher power tariffs

Cryptocurrency miners in Belarus and Russia will be charged with higher electricity charges, which would result in denial of subsidized power to them. The move comes as the government in these countries are taking steps to segregate cryptocurrency miners from other power-consuming groups.

According to Bitcoin.com, Miners in Russia cannot take advantage of preferential tariffs. It is vital to exclude the consumption of electricity by miners from the household rate to maintain the reliability and quality of the power supply.

In Belarus, cryptocurrency mining activity is classified in the same electricity tariff group as data centers, information services and data processing activities.