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Bitcoin was little changed after rallying more than 16% over the past two days. The world's most popular and largest cryptocurrency was trading marginally over 2% to $44,759. The digital token is up about 17% in the last five days. However, it is more than 30% far away from its record high of near $69,000 it had hit in November 2021.

Ether, the coin linked to the ethereum blockchain and the second-largest cryptocurrency in terms of market capitalization, rose marginally to $2,931. On the other hand, dogecoin price was trading more than a per cent lower at $0.13 whereas Shiba Inu also tanked over a per cent to $0.000026.

The performance of other digital tokens were mixed as Terra, Solana, Polygon gained while Avalanche, Stellar, XRP, Litecoin, Cardano, Polkadot prices were trading with cuts over the last 24 hours. Meanwhile, the global cryptocurrency market capitalisation today remained above the $2 trillion mark, even as it was down marginally in the last 24 hours, as per CoinGecko.

The US Securities and Exchange Commission is scrutinizing creators of NFTs and the crypto exchanges where they trade to determine if some of the assets run afoul of the agency’s rules, a report by Bloomberg suggested.

The recent volatility in cryptocurrencies has come amid a broader market selloff amid escalating geopolitical tensions due to the ongoing Russia-Ukraine crisis. The volatility has also been driven by investors recalibrating their portfolios to account for a more aggressive Fed, which is now expected to raise rates as many as seven times this year as it fights surging inflation.

(With inputs from agencies)

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