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Home / Markets / Cryptocurrency / This cryptocurrency zoomed over 70,000% in just 24 hours This cryptocurrency zoomed over 70,000% in just 24 hours Premium The crypto has been very volatile in the past week with huge price swings 2 min read . Updated: 11 Nov 2021, 05:31 PM IST Livemint
A digital token inspired by the popular South Korean Netflix series Squid Game has lost almost all of its value as it was revealed to be an apparent scam.
Indians' investments in crypto grew from about $200 million to nearly $40 billion in the past year
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In particular, the activities of miners â cryptocurrency users who leverage vast amounts of computing power to record transactions, receiving newly created cryptocurrency units and transaction fees paid by other users in return â are critical to currenciesâ stability and smooth function.
Initially, Binance.US considered listing up to 30 crypto assets, with those deemed most important making it to the Phase 1 list. Some have noted the absence of high-profile Binance IEOs (initial exchange offerings) from this list as well as the lack of support for Tron (13th by market capitalization at the moment).
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Crypto companies such as miners Marathon Digital Holdings Inc. and Riot Blockchain Inc. each rallied more than 10% Monday. Coinbase Global Inc., the largest U.S. exchange, gained as much as 3.6%, a day before reporting third-quarter results.
NFTs "could be as big or bigger" than cryptocurrency trading on the platform, said Coinbase CEO Brian Armstrong.
These protocols also mask the identities of cryptocurrency users, making transactions and fund flows difficult to attribute to specific individuals or groups.
Ultimately, many experts believe regulation is a good thing for the industry. âSensible regulation is a win for everyone,â says Ben Weiss, CEO and cofounder of CoinFlip, a cryptocurrency buying platform and crypto ATM network. âIt gives people more confidence in crypto, but I think itâs something we have to take our time on and we have to get it right.â
Facebookâs closely guarded Libra project could be the first true cryptocurrency alternative to fiat currencies, although its growing pains suggest that true parity remains well in the future.
This happens when the promoter of a digital token draws in buyers, stops trading activity and makes off with the money raised from sales.
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