Major cryptocurrencies largely remained flat on Wednesday even as US dollar and bond yields tumbled amid progress in Russia-Ukraine peace talks.

Bitcoin, world's largest cryptocurrency in terms of market cap, was trading flat at $47,419 at 8:58 am, according to CoinDesk data. Bitcoin market capitalisation was at $900.87 billion, while the trade volume was at $1.11 billion in the past 24 hours.

Bitcoin has witnessed volatile trades in the past one year. The cryptocurrency has hit a high of $69,000 and a low of near $28,000 in this period.

Second-largest virtual currency Ether was also flat at $3,387. Meme crypto Dogecoin, however, shed over 2 percent at $0.141, while Shiba Inu was flat at $0.000027. Solana, which witnessed substantial interest from the crypto traders last year, jumped more than 2 percent to trade at $110.

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Meanwhile, crypto tax will be applicable from April 1. All forms of virtual digital assets (VDA) or crypto assets that are sold at a profit will attract a tax of 30 percent. The announcement was made by Finance Minister Nirmala Sitharaman in her Union Budget speech this year.

Also Read: Gold prices rise as dollar, yields fall amid progress in Russia-Ukraine talks

US stock markets gained substantially on Tuesday as talks on ending the war in Ukraine showed signs of progress. Oil prices rose on Wednesday, erasing losses from the previous session, on hopes of progress in peace talks between Russia and Ukraine and providing a fresh reminder supply remains tight as data showed US crude stocks fell sharply last week.

Also Read: Asian shares rally on hopes of negotiated end to Russia-Ukraine war

Gold prices also gained on Wednesday as the US dollar and Treasury yields fell, despite signs of progress in Russia-Ukraine peace talks dented the metal's appeal as a safe haven and kept gains in check.

(Edited by : Bivekananda Biswas)

First Published:Mar 30, 2022 9:19 AM IST