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  • bitcoinBitcoin (BTC) $ 63,761.00
  • ethereumEthereum (ETH) $ 3,408.95
  • tetherTether (USDT) $ 1.00
  • bnbBNB (BNB) $ 569.48
  • solanaSolana (SOL) $ 156.06
  • usd-coinUSDC (USDC) $ 1.00
  • staked-etherLido Staked Ether (STETH) $ 3,407.56
  • xrpXRP (XRP) $ 0.571540
  • the-open-networkToncoin (TON) $ 7.34
  • dogecoinDogecoin (DOGE) $ 0.122715
  • cardanoCardano (ADA) $ 0.438991
  • tronTRON (TRX) $ 0.133989
  • shiba-inuShiba Inu (SHIB) $ 0.000019
  • avalanche-2Avalanche (AVAX) $ 27.47
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 63,828.00
  • polkadotPolkadot (DOT) $ 6.32
  • chainlinkChainlink (LINK) $ 14.14
  • bitcoin-cashBitcoin Cash (BCH) $ 383.56
  • nearNEAR Protocol (NEAR) $ 6.12
  • uniswapUniswap (UNI) $ 8.08
  • leo-tokenLEO Token (LEO) $ 5.85
  • litecoinLitecoin (LTC) $ 73.07
  • daiDai (DAI) $ 1.00
  • wrapped-eethWrapped eETH (WEETH) $ 3,556.47
  • matic-networkPolygon (MATIC) $ 0.534827
  • pepePepe (PEPE) $ 0.000012
  • internet-computerInternet Computer (ICP) $ 9.57
  • kaspaKaspa (KAS) $ 0.178445
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 1.39
  • ethereum-classicEthereum Classic (ETC) $ 23.39
  • ethena-usdeEthena USDe (USDE) $ 1.01
  • aptosAptos (APT) $ 6.88
  • stellarStellar (XLM) $ 0.106062
  • moneroMonero (XMR) $ 159.95
  • makerMaker (MKR) $ 2,920.97
  • hedera-hashgraphHedera (HBAR) $ 0.076029
  • blockstackStacks (STX) $ 1.84
  • vechainVeChain (VET) $ 0.031807
  • crypto-com-chainCronos (CRO) $ 0.094054
  • render-tokenRender (RNDR) $ 6.45
  • okbOKB (OKB) $ 42.24
  • cosmosCosmos Hub (ATOM) $ 6.46
  • filecoinFilecoin (FIL) $ 4.39
  • mantleMantle (MNT) $ 0.756940
  • arbitrumArbitrum (ARB) $ 0.743166
  • injective-protocolInjective (INJ) $ 23.27
  • immutable-xImmutable (IMX) $ 1.46
  • dogwifcoindogwifhat (WIF) $ 2.19
  • suiSui (SUI) $ 0.844078
  • bittensorBittensor (TAO) $ 290.61
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 3,467.43
  • the-graphThe Graph (GRT) $ 0.211016
  • first-digital-usdFirst Digital USD (FDUSD) $ 1.00
  • optimismOptimism (OP) $ 1.75
  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,822.45
  • bonkBonk (BONK) $ 0.000027
  • arweaveArweave (AR) $ 28.21
  • flokiFLOKI (FLOKI) $ 0.000184
  • mantle-staked-etherMantle Staked Ether (METH) $ 3,533.71
  • notcoinNotcoin (NOT) $ 0.016000
  • lido-daoLido DAO (LDO) $ 1.77
  • aaveAave (AAVE) $ 104.44
  • ondo-financeOndo (ONDO) $ 1.06
  • bitget-tokenBitget Token (BGB) $ 1.07
  • theta-tokenTheta Network (THETA) $ 1.49
  • fantomFantom (FTM) $ 0.509766
  • jasmycoinJasmyCoin (JASMY) $ 0.029520
  • whitebitWhiteBIT Coin (WBT) $ 9.68
  • based-brettBrett (BRETT) $ 0.136912
  • thorchainTHORChain (RUNE) $ 4.01
  • algorandAlgorand (ALGO) $ 0.157845
  • celestiaCelestia (TIA) $ 6.46
  • pyth-networkPyth Network (PYTH) $ 0.334270
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 3,408.94
  • jupiter-exchange-solanaJupiter (JUP) $ 0.871718
  • coredaoorgCore (CORE) $ 1.32
  • quant-networkQuant (QNT) $ 78.35
  • sei-networkSei (SEI) $ 0.347401
  • mantra-daoMANTRA (OM) $ 1.32
  • gatechain-tokenGate (GT) $ 7.66
  • elrond-erd-2MultiversX (EGLD) $ 35.17
  • kucoin-sharesKuCoin (KCS) $ 9.62
  • flowFlow (FLOW) $ 0.606979
  • flare-networksFlare (FLR) $ 0.020633
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 3,478.91
  • bittorrentBitTorrent (BTT) $ 0.00000090
  • eosEOS (EOS) $ 0.584753
  • galaGALA (GALA) $ 0.023986
  • axie-infinityAxie Infinity (AXS) $ 5.88
  • bitcoin-svBitcoin SV (BSV) $ 43.78
  • beam-2Beam (BEAM) $ 0.017191
  • tokenize-xchangeTokenize Xchange (TKX) $ 10.76
  • ethereum-name-serviceEthereum Name Service (ENS) $ 26.85
  • akash-networkAkash Network (AKT) $ 3.50
  • dydx-chaindYdX (DYDX) $ 1.39
  • msolMarinade Staked SOL (MSOL) $ 188.25
  • tezosTezos (XTZ) $ 0.812369
  • popcatPopcat (POPCAT) $ 0.812670
  • neoNEO (NEO) $ 11.23
  • starknetStarknet (STRK) $ 0.597853
  • ethenaEthena (ENA) $ 0.452497
  • ordinalsORDI (ORDI) $ 36.59
  • the-sandboxThe Sandbox (SAND) $ 0.330169
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 3,673.06
  • roninRonin (RON) $ 2.23
  • fasttokenFasttoken (FTN) $ 2.32
  • ecasheCash (XEC) $ 0.000037
  • usddUSDD (USDD) $ 0.999288
  • zebec-protocolZebec Protocol (ZBC) $ 0.014471
  • lido-staked-solLido Staked SOL (STSOL) $ 186.61
  • conflux-tokenConflux (CFX) $ 0.171652
  • mog-coinMog Coin (MOG) $ 0.000002
  • gnosisGnosis (GNO) $ 273.18
  • nexoNEXO (NEXO) $ 1.26
  • pendlePendle (PENDLE) $ 4.46
  • frax-etherFrax Ether (FRXETH) $ 3,404.53
  • worldcoin-wldWorldcoin (WLD) $ 2.42
  • decentralandDecentraland (MANA) $ 0.357030
  • fraxFrax (FRAX) $ 1.00
  • chilizChiliz (CHZ) $ 0.070889
  • zksyncZKsync (ZK) $ 0.169197
  • oasis-networkOasis Network (ROSE) $ 0.091761
  • book-of-memeBOOK OF MEME (BOME) $ 0.008876
  • heliumHelium (HNT) $ 3.66
  • havvenSynthetix Network (SNX) $ 1.86
  • tether-goldTether Gold (XAUT) $ 2,446.45
  • mina-protocolMina Protocol (MINA) $ 0.529435
  • paypal-usdPayPal USD (PYUSD) $ 1.01
  • safeSafe (SAFE) $ 1.36
  • dexeDeXe (DEXE) $ 10.12
  • klay-tokenKlaytn (KLAY) $ 0.154943
  • wormholeWormhole (W) $ 0.315918
  • swethSwell Ethereum (SWETH) $ 3,592.15
  • iotaIOTA (IOTA) $ 0.168095
  • sats-ordinalsSATS (Ordinals) (SATS) $ 0.00000027
  • nervos-networkNervos Network (CKB) $ 0.012118
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.00
  • apecoinApeCoin (APE) $ 0.789985
  • aioz-networkAIOZ Network (AIOZ) $ 0.482089
  • astarAstar (ASTR) $ 0.075333
  • raydiumRaydium (RAY) $ 2.00
  • staked-frax-etherStaked Frax Ether (SFRXETH) $ 3,687.52
  • 1inch1inch (1INCH) $ 0.417354
  • axelarAxelar (AXL) $ 0.694889
  • wemix-tokenWEMIX (WEMIX) $ 1.24
  • true-usdTrueUSD (TUSD) $ 1.00
  • dog-go-to-the-moon-runeDOG•GO•TO•THE•MOON (Runes) (DOG) $ 0.004930
  • livepeerLivepeer (LPT) $ 14.54
  • theta-fuelTheta Fuel (TFUEL) $ 0.071928
  • aevo-exchangeAevo (AEVO) $ 0.556526
  • bitcoin-goldBitcoin Gold (BTG) $ 26.87
  • zcashZcash (ZEC) $ 30.37
  • pax-goldPAX Gold (PAXG) $ 2,432.32
  • xdce-crowd-saleXDC Network (XDC) $ 0.030092
  • aerodrome-financeAerodrome Finance (AERO) $ 0.836569
  • kavaKava (KAVA) $ 0.410089
  • stader-ethxStader ETHx (ETHX) $ 3,492.90
  • trust-wallet-tokenTrust Wallet (TWT) $ 1.05
  • apenftAPENFT (NFT) $ 0.00000044
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000080
  • layerzeroLayerZero (ZRO) $ 3.93
  • iotexIoTeX (IOTX) $ 0.045754
  • illuviumIlluvium (ILV) $ 64.89
  • usdbUSDB (USDB) $ 0.991667
  • echelon-primeEchelon Prime (PRIME) $ 9.28
  • singularitynetSingularityNET (AGIX) $ 0.606157
  • woo-networkWOO (WOO) $ 0.203117
  • mx-tokenMX (MX) $ 3.95
  • h2o-daoH2O Dao (H2O) $ 0.452681
  • compound-ethercETH (CETH) $ 68.54
  • memecoin-2Memecoin (MEME) $ 0.016446
  • safepalSafePal (SFP) $ 0.790341
  • magaMAGA (TRUMP) $ 7.83
  • corgiaiCorgiAI (CORGIAI) $ 0.001036
  • arkhamArkham (ARKM) $ 1.59
  • golemGolem (GLM) $ 0.354580
  • constitutiondaoConstitutionDAO (PEOPLE) $ 0.070530
  • cat-in-a-dogs-worldcat in a dogs world (MEW) $ 0.003955
  • compound-governance-tokenCompound (COMP) $ 51.53
  • osmosisOsmosis (OSMO) $ 0.517835
  • rocket-poolRocket Pool (RPL) $ 17.04
  • stepnGMT (GMT) $ 0.152314
  • kusamaKusama (KSM) $ 22.71
  • aragonAragon (ANT) $ 8.60
  • curve-dao-tokenCurve DAO (CRV) $ 0.285004
  • holotokenHolo (HOT) $ 0.001891
  • pepecoin-2PepeCoin (PEPECOIN) $ 2.73
  • compound-wrapped-btccWBTC (CWBTC) $ 1,279.44
  • dashDash (DASH) $ 27.03
  • beldexBeldex (BDX) $ 0.047622
  • zilliqaZilliqa (ZIL) $ 0.017106
  • blurBlur (BLUR) $ 0.182762
  • dydxdYdX (ETHDYDX) $ 1.39
  • aethirAethir (ATH) $ 0.082409
  • enjincoinEnjin Coin (ENJ) $ 0.186006
  • celoCelo (CELO) $ 0.566688
  • radixRadix (XRD) $ 0.029162
  • liquid-staked-ethereumLiquid Staked ETH (LSETH) $ 3,567.80
  • manta-networkManta Network (MANTA) $ 0.893669
  • 0x0x Protocol (ZRX) $ 0.355709
  • blastBlast (BLAST) $ 0.016765
  • siacoinSiacoin (SC) $ 0.005137
  • polymeshPolymesh (POLYX) $ 0.279081
  • ankrAnkr Network (ANKR) $ 0.029728
  • justJUST (JST) $ 0.029695
  • basic-attention-tokenBasic Attention (BAT) $ 0.193701
  • jito-governance-tokenJito (JTO) $ 2.34
  • turboTurbo (TURBO) $ 0.004185
  • project-galaxyGalxe (GAL) $ 2.43
  • m2-global-wealth-limited-mmxMMX (MMX) $ 2.01
  • aelfaelf (ELF) $ 0.395082
  • dymensionDymension (DYM) $ 1.49
  • terra-luna-2Terra (LUNA) $ 0.412889
  • superfarmSuperVerse (SUPER) $ 0.623422
  • ethereum-pow-iouEthereumPoW (ETHW) $ 2.55
  • origintrailOriginTrail (TRAC) $ 0.673088
  • casper-networkCasper Network (CSPR) $ 0.022437
  • ravencoinRavencoin (RVN) $ 0.019438
  • biconomyBiconomy (BICO) $ 0.330390
  • qtumQtum (QTUM) $ 2.53
  • reserve-rights-tokenReserve Rights (RSR) $ 0.005246
  • nxmNexus Mutual (NXM) $ 70.42
  • amp-tokenAmp (AMP) $ 0.004621
  • ether-fiEther.fi (ETHFI) $ 2.24
  • centrifugeCentrifuge (CFG) $ 0.523257
  • bitcoin-avalanche-bridged-btc-bBitcoin Avalanche Bridged (BTC.b) (BTC.B) $ 63,437.00
  • gmxGMX (GMX) $ 27.00
  • metis-tokenMetis (METIS) $ 45.26
  • ocean-protocolOcean Protocol (OCEAN) $ 0.596625
  • wrapped-beacon-ethWrapped Beacon ETH (WBETH) $ 3,557.68
  • gasGas (GAS) $ 3.78
  • skaleSKALE (SKL) $ 0.047314
  • ioio.net (IO) $ 2.57
  • ponkePONKE (PONKE) $ 0.482603
  • ssv-networkSSV Network (SSV) $ 34.17
  • venomVenom (VENOM) $ 0.143551
  • mask-networkMask Network (MASK) $ 2.38
  • nosanaNosana (NOS) $ 2.84
  • altlayerAltLayer (ALT) $ 0.144424
  • goldfinchGoldfinch (GFI) $ 3.01
  • api3API3 (API3) $ 2.00
  • zelcashFlux (FLUX) $ 0.651339
  • arcblockArcblock (ABT) $ 2.29
  • benqi-liquid-staked-avaxBENQI Liquid Staked AVAX (SAVAX) $ 31.21
  • decredDecred (DCR) $ 13.72
  • paal-aiPAAL AI (PAAL) $ 0.259975
  • chromawayChromia (CHR) $ 0.267348
  • chiaChia (XCH) $ 20.68
  • tribe-2Tribe (TRIBE) $ 0.483637
  • threshold-network-tokenThreshold Network (T) $ 0.022713
  • vethor-tokenVeThor (VTHO) $ 0.002801
  • mythosMythos (MYTH) $ 0.302965
  • rollbit-coinRollbit Coin (RLB) $ 0.081093
  • bloxBlox (CDT) $ 0.298800
  • baby-doge-coinBaby Doge Coin (BABYDOGE) $ 0.00000000
  • olympusOlympus (OHM) $ 12.48
  • loopringLoopring (LRC) $ 0.161149
  • frax-shareFrax Share (FXS) $ 2.48
  • tellorTellor Tributes (TRB) $ 76.68
  • mimblewimblecoinMimbleWimbleCoin (MWC) $ 18.13
  • tbtctBTC (TBTC) $ 63,527.00
  • yearn-financeyearn.finance (YFI) $ 5,975.77
  • zetachainZetaChain (ZETA) $ 0.697304
  • coinex-tokenCoinEx (CET) $ 0.066513
  • ampleforthAmpleforth (AMPL) $ 1.27
  • bouncebitBounceBit (BB) $ 0.467697
  • yield-guild-gamesYield Guild Games (YGG) $ 0.508774
  • convex-financeConvex Finance (CVX) $ 2.33
  • moonbeamMoonbeam (GLMR) $ 0.212820
  • osaka-protocolOsaka Protocol (OSAK) $ 0.00000024
  • apu-s-clubApu Apustaja (APU) $ 0.000582
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.04
  • wrapped-centrifugeWrapped Centrifuge (WCFG) $ 0.523598
  • delysiumDelysium (AGI) $ 0.192003
  • space-idSPACE ID (ID) $ 0.431030
  • instadappInstadapp (INST) $ 2.19
  • swissborgSwissBorg (BORG) $ 0.183106
  • edu-coinOpen Campus (EDU) $ 0.691102
  • zencashHorizen (ZEN) $ 11.84
  • ontologyOntology (ONT) $ 0.198566
  • harmonyHarmony (ONE) $ 0.014632
  • umaUMA (UMA) $ 2.20
  • pay-coinPaycoin (PCI) $ 0.176108
  • creditcoin-2Creditcoin (CTC) $ 0.502848
  • audiusAudius (AUDIO) $ 0.141184
  • vanar-chainVanar Chain (VANRY) $ 0.124081
  • memes-go-to-the-moonMEMES•GO•TO•THE•MOON (Runes) (MEMES) $ 0.001720
  • desoDecentralized Social (DESO) $ 16.25
  • band-protocolBand Protocol (BAND) $ 1.19
  • across-protocolAcross Protocol (ACX) $ 0.423995
  • oec-tokenOKT Chain (OKT) $ 9.60
  • linkFINSCHIA (FNSA) $ 21.19
  • netmind-tokenNetMind Token (NMT) $ 4.52
  • zignalyZignaly (ZIG) $ 0.117762
  • kadenaKadena (KDA) $ 0.596072
  • escoin-tokenEscoin (ELG) $ 0.888701
  • telcoinTelcoin (TEL) $ 0.002101
  • metaplexMetaplex (MPLX) $ 0.300104
  • alchemix-usdAlchemix USD (ALUSD) $ 0.969515
  • truefiTrueFi (TRU) $ 0.139288
  • pixelsPixels (PIXEL) $ 0.205816
  • non-playable-coinNon-Playable Coin (NPC) $ 0.019690
  • iconICON (ICX) $ 0.156215
  • taikoTaiko (TAIKO) $ 2.50
  • swipeSolar (SXP) $ 0.254088
  • billyBilly (BILLY) $ 0.156060
  • aleph-zeroAleph Zero (AZERO) $ 0.473217
  • balancerBalancer (BAL) $ 2.63
  • cotiCOTI (COTI) $ 0.095146
  • neutron-3Neutron (NTRN) $ 0.448493
  • marlinMarlin (POND) $ 0.018266
  • 0x0-ai-ai-smart-contract0x0.ai: AI Smart Contract (0X0) $ 0.164871
  • liskLisk (LSK) $ 0.991459
  • iexec-rlciExec RLC (RLC) $ 1.97
  • songbirdSongbird (SGB) $ 0.009445
  • hivemapperHivemapper (HONEY) $ 0.068136
  • lcxLCX (LCX) $ 0.181959
  • digibyteDigiByte (DGB) $ 0.008268
  • bone-shibaswapBone ShibaSwap (BONE) $ 0.564150
  • myroMyro ($MYRO) $ 0.140399
  • sushiSushi (SUSHI) $ 0.726714
  • helium-mobileHelium Mobile (MOBILE) $ 0.001491
  • bitmart-tokenBitMart (BMX) $ 0.407880
  • saga-2Saga (SAGA) $ 1.43
  • ecomiECOMI (OMI) $ 0.000503
  • universal-ethUniversal ETH (UNIETH) $ 3,641.68
  • omni-networkOmni Network (OMNI) $ 13.13
  • bitkub-coinBitkub Coin (KUB) $ 1.52
  • magicMagic (MAGIC) $ 0.528053
  • stasis-eursSTASIS EURO (EURS) $ 1.09
  • kendu-inuKendu Inu (KENDU) $ 0.000135
  • coin98Coin98 (C98) $ 0.169898
  • waxWAX (WAXP) $ 0.038866
  • metars-genesisMetars Genesis (MRS) $ 1.59
  • vvs-financeVVS Finance (VVS) $ 0.000003
  • harrypotterobamasonic10inHarryPotterObamaSonic10Inu (ETH) (BITCOIN) $ 0.133628
  • andy-the-wisguyANDY ETH (ANDY) $ 0.000129
  • mapleMaple (MPL) $ 16.73
  • kujiraKujira (KUJI) $ 1.08
  • gmt-tokenGomining Token (GOMINING) $ 0.306460
  • world-mobile-tokenWorld Mobile Token (WMT) $ 0.215326
  • prometeusProm (PROM) $ 7.09
  • cartesiCartesi (CTSI) $ 0.156733
  • alchemy-payAlchemy Pay (ACH) $ 0.026010
  • ongOntology Gas (ONG) $ 0.333847
  • banana-gunBanana Gun (BANANA) $ 53.02
  • origin-etherOrigin Ether (OETH) $ 3,399.74
  • tokenfiTokenFi (TOKEN) $ 0.079603
  • listaLista DAO (LISTA) $ 0.552161
  • nemNEM (XEM) $ 0.013872
  • everipediaIQ (IQ) $ 0.006728
  • chex-tokenCHEX Token (CHEX) $ 0.125390
  • dusk-networkDusk (DUSK) $ 0.269015
  • strideStride (STRD) $ 1.35
  • nanoNano (XNO) $ 0.923104
  • oraichain-tokenOraichain (ORAI) $ 7.54
  • smooth-love-potionSmooth Love Potion (SLP) $ 0.002949
  • mocaverseMoca Coin (MOCA) $ 0.105080
  • wexoWexo (WEXO) $ 2.29
  • peipeicoin-vipPeiPei (PEIPEI) $ 0.00000028
  • polygon-ecosystem-tokenPolygon Ecosystem Token (POL) $ 0.530167
  • dao-makerDAO Maker (DAO) $ 0.471866
  • smardexSmarDex (SDEX) $ 0.013903
  • paxos-standardPax Dollar (USDP) $ 1.00
  • michicoinmichi ($MICHI) $ 0.208306
  • rss3RSS3 (RSS3) $ 0.169608
  • zentryZentry (ZENT) $ 0.020520
  • boraBORA (BORA) $ 0.103999
  • ozone-chainOzone Chain (OZO) $ 0.234057
  • iostokenIOST (IOST) $ 0.006130
  • btse-tokenBTSE Token (BTSE) $ 0.699709
  • joeJOE (JOE) $ 0.335090
  • milady-meme-coinMilady Meme Coin (LADYS) $ 0.00000013
  • ultimaUltima (ULTIMA) $ 3,835.37
  • gigachad-2Gigachad (GIGA) $ 0.011714
  • alexgoALEX Lab (ALEX) $ 0.142554
  • apex-token-2ApeX (APEX) $ 2.36
  • crvusdcrvUSD (CRVUSD) $ 1.00
  • coq-inuCoq Inu (COQ) $ 0.000002
  • gemini-dollarGemini Dollar (GUSD) $ 1.01
  • sun-tokenSun Token (SUN) $ 0.011144
  • insureinSure DeFi (SURE) $ 0.004149
  • gains-networkGains Network (GNS) $ 3.23
  • tokenlonTokenlon (LON) $ 0.936731
  • wrapped-quilWrapped QUIL (QUIL) $ 0.302721
  • kinesis-silverKinesis Silver (KAG) $ 30.83
  • everscaleEverscale (EVER) $ 0.054795
  • bazaarsBazaars (BZR) $ 9.29
  • kinesis-goldKinesis Gold (KAU) $ 78.24
  • power-ledgerPowerledger (POWR) $ 0.205478
  • pundi-x-2Pundi X (PUNDIX) $ 0.413893
  • nkyc-tokenNKYC Token (NKYC) $ 26.72
  • milk-allianceMiL.k Alliance (MLK) $ 0.284497
  • venusVenus (XVS) $ 6.59
  • the-real-landwolfLandWolf (WOLF) $ 0.010494
  • cyberconnectCYBER (CYBER) $ 4.53
  • numeraireNumeraire (NMR) $ 14.37
  • energy-web-tokenEnergy Web (EWT) $ 2.01
  • alephiumAlephium (ALPH) $ 1.25
  • slerfSlerf (SLERF) $ 0.206285
  • enduranceFusionist (ACE) $ 3.04
  • synapse-2Synapse (SYN) $ 0.473706
  • toshiToshi (TOSHI) $ 0.000245
  • ix-swapIX Swap (IXS) $ 0.578362
  • big-timeBig Time (BIGTIME) $ 0.103252
  • bobo-coinBOBO Coin (BOBO) $ 0.000002
  • mass-vehicle-ledgerMVL (MVL) $ 0.004038
  • spell-tokenSpell (SPELL) $ 0.000696
  • orbsOrbs (ORBS) $ 0.023143
  • merlin-chainMerlin Chain (MERL) $ 0.277154
  • wuffiWUFFI (WUF) $ 0.000001
  • statusStatus (SNT) $ 0.025239
  • renzo-restaked-lstRenzo Restaked LST (PZETH) $ 4,009.58
  • moonriverMoonriver (MOVR) $ 10.91
  • my-neighbor-aliceMy Neighbor Alice (ALICE) $ 1.07
  • mines-of-dalarniaMines of Dalarnia (DAR) $ 0.164474
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After Central Bank Devalues Naira by 5% Finance Minister Attributes Drop to ‘Market Forces’

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			    After Central Bank Devalues Naira by 5% Finance Minister Attributes Drop to 'Market Forces'

Nigerian Finance Minister Zainab Ahmed has denied widespread reports that the Central Bank of Nigeria (CBN) had sanctioned the devaluation of the local currency sometime in May 2021. Instead, she attributes the naira’s fall to the “volatility in the oil price.” Ahmed’s remarks come just a few weeks after the official naira exchange rate dropped from $381 to the dollar to the current rate of 411:USD1.

Devaluation vs Depreciation

As previously reported by Bitcoin.com News, the CBN had initially allowed the naira’s exchange rate to drop to 419.5 per U.S. dollar. However, since May 14, 2021, the naira’s exchange rate against the dollar has remained at or just below 411. It is this apparent adjustment of the exchange rate by the CBN (which meets Investopedia’s definition of devaluation) that prompted reports that the naira has been devalued.

However, in her explanation, Finance Minister Zainab Ahmed still refuses to equate the CBN’s tinkering with the exchange rate to devaluation. She said:

Let me not use the word devaluation. (The) naira is responding to market forces of demand and supply. We have oil and gas, unfortunately, still the major source of foreign exchange.

According to a report, oil contributes less than 15% to Nigeria’s Gross Domestic Product (GDP) yet it brings in “at least 70-85 per cent of revenue and 80-90 per cent of foreign exchange in Africa’s biggest oil producer.” In order to remedy this, Ahmed says Nigeria is now focused on finding and developing alternative sources of foreign exchange.

Unifying the Naira’s Multiple Exchange Rates

In the meantime, as the CBN and Nigerian government attempt to unify the naira’s multiple exchange rates, the currency continues to weaken on the parallel market. For instance, at the time of writing, naira’s sell rate had depreciated to 502 against the dollar from the 493 that had been reported in late May. Before the devaluation, the naira’s black market rate had stabilized around 485.

However, following the CBN’s exchange rate adjustment, the gap between the official and parallel market exchange rates has grown. This growth, in turn, raises fresh doubts about the central bank’s ability to unify the naira’s multiple exchange rates.

Do you think it’s possible for the CBN to unify the naira’s official and parallel market exchange rates? Tell us what you think in the comments section below.

Source: news.bitcoin.com

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