Cryptocurrency Financial News

Bitcoin is up 33.9% from the year's low of $17,592.78 on June 18.

Billionaire investor Mike Novogratz says that Bitcoin (BTC), the world’s largest digital currency by market capitalisation, can hit the $500,000 mark in the next five years, thanks to increased adoption and outstanding properties. The Wall Street veteran said Bitcoin has some outstanding properties, including being tailor-made to be an anti-inflation store of value.

The token's market cap slumped to the $4.4 million mark, as per the data from coinmarketcap, with volumes at more than $8 million, about 1.8 times the entire m-cap. The total and maximum supply of Gari tokens is capped at 1 billion, with its total existing self-reported supply is about 45.8 million tokens, according to the data.

Major cryptocurrencies traded in the green early on July 20. The global crypto market rose to 1 trillion over the last day.  On the other hand, the total crypto market volume rose to $101.53 billion over the last 24 hours.

Bitcoin rose 5.11% to $23,564.93 at 22:05 GMT on Tuesday, adding $1,145.77 to its previous close.

Crypto lender Celsius defends bitcoin mining plans as bankruptcy kicks off

After the dismantling of the Blockchain and Crypto Assets Council (BACC) last week by the Internet and Mobile Association of India (IAMAI), crypto exchanges are likely to meet this week to discuss the way forward as they look to create their own independent body or join other industry bodies.

Major cryptocurrencies traded in the green early on July 19 as the global crypto market cap rose 5.31 percent to $1.02 trillion over the last day. On the other hand, the total crypto market volume rose 85.92 percent to $107.95 billion over the last 24 hours. The total volume in DeFi stood at $8.91 billion, which is 8.26 percent of the total crypto market's 24-hour volume.

Cryptoverse: Holding your breath for a bitcoin bounce

cryptocurrency — an explicit prohibition — the Indian government wants a global collaboration if such a ban or prohibition has to be put into effect. Addressing queries pertaining to cryptocurrencies in the Lok Sabha today, finance minister Nirmala Sitharaman said, “Cryptocurrencies are by definition borderless and require international collaboration to prevent regulatory arbitrage. Therefore, any legislation for regulation or for banning can be effective only after significant international collaboration on evaluation of the risks and benefits and evolution of common taxonomy and standards.” The RBI has time and again pointed out the problems with digital assets questioning their underlying fundamentals and use cases. The RBI governor Shaktikanta Das has gone on the record to even call it a “real danger” in the annual report of the central bank.

Crypto Update For The Week: Binance to Hire Indian engineers, UK, US frame rules

South Korean researchers say that crypto winter will end before the financial year is over, but think that the US Federal Reserve’s attempts to bolster the United States economy could continue to influence crypto markets in the meantime.

The fashion world has gone for NFTs in a big way. Yes, skeptics may continue to claim that NFTs are “useless,” yet fashion houses seem not to have received the memo, since a growing number of them have begun offering those tokens of ownership as part of their collections and product lines.

A number of  cryptocurrency investors have taken to social media in recent days saying they are facing challenges in withdrawing cash after some exchanges temporarily suspended currency withdrawals. Moneycontrol has seen at least half a dozen of such complaints.

Finance Minister Nirmala Sitharaman on July 18 said the RBI has expressed concerns over cryptocurrencies saying that they should be prohibited as they can have destabilising effect on the monetary and fiscal stability.

Cryptos will have destabilise monetary and fiscal stability: Finance Minister

Blockchain firm executes Russia's first digital asset deal with palladium

Vladimir Putin, the president of the aggressor state of Russia, has signed a new law that will ban the use of cryptoassets and other “digital assets” in the payments space – even though crypto pay is already illegal in the country.

Blockchain technology brought together the security of cryptography and the accessibility of the internet and promised to revolutionise the way the world transacts in finance. There would be no need for central banks and other intermediaries like banks and information would be stored securely, making it impossible for other users to add, delete or change.

The Reserve Bank of India (RBI) has recommended to the government that it should frame regulations for cryptocurrencies and prohibit them.

Crypto lender Celsius Network reveals $1.19 billion hole in bankruptcy filing