Decentralised Finance segment has seen growth with the rise in interests in Crypto assets. However it's sudden surge in Indian market has been noteworthy. Ashish Anand of Bru.Finance helps decode the growth as he speaks with Sidhartha Shukla of ET Online in ET Markets Cryptologue. Listen in!
World's largest cryptocurrency Bitcoin was trading over 7% higher today. The price of Bitcoin rose 7.34% to $66,119 on Coinmarketcap. Market cap of the cryptocurrency reached $1,252.44 billion.
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Although mining periodically produces new cryptocurrency units, most cryptocurrencies are designed to have a finite supply — a key guarantor of value.
Over the last 24 hours, Ether (ETH), the currency for the Ethereum network, went from ₹3,86,457 to ₹3,80,498, with a market cap of ₹41.7T. In the same time, Litecoin (LTC) moved down from ₹23,859 to ₹21,497, a change of -9.90%, with a market cap of ₹1.4T. Ripple, or XRP, is another hugely popular token, with a market cap of ₹4.3T. In the last day, its value has changed -7.36%, moving from ₹105.61 to ₹97.85.
Recently, such platforms have come under increased scrutiny by lawmakers and regulators. Binance in particular is reportedly under review by regulators in the U.S., Britain, Germany, Japan, Hong Kong and elsewhere.
So the product rewards people who hold onto it instead of trading it. By doing this, it implements a 10 percent penalty tax fee.
The crypto prices today are trading in the red as Bitcoin, as well as the altcoins, have retreated after a strong week of rallies to new all-time highs.
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From the rise of meme stocks to the increasing mainstream adoption of crypto, Wall Street has embraced once-fringe areas of investing and finance.
Yet in some ways, the crypto crowd were not wrong. In the almost 18 months since Covid-19 was declared a pandemic, the price of bitcoin has risen by about 525 per cent, from just under $8,000 to a three-month high just above $50,000 on Monday. XRP has climbed by a similar amount to trade around the $1.25 mark.
Through instructions in their source codes, cryptocurrencies automatically adjust to the amount of mining power working to create new blockchain copies — copies become more difficult to create as mining power increases and easier to create as mining power decreases.
Bitcoin ETFs, once considered a pipe dream, are now a reality giving investors more avenues to invest in cryptocurrency.
It remains to be seen if Decentraland turns into the next meme coin of choice for retail investors, but it has lately picked up some traction from Reddit users via threads.
Finally, users can fund their accounts from as little as $50, making the platform very accessible to beginners. Deposits can be made via credit/debit card, bank transfer, or various e-wallets. Notably, eToro even accepts PayPal and Klarna, making it super easy to fund your trading account!
Now one can ever be sure in this “space” but we *think* given that the blue line is so vertical that it literally bends backwards, and that the guy seems to have a sense of humour in his other tweets, this is a joke. We’re not sure “@unusual_whales” got the memo, did he, oh well. Can someone please make sure someone at Citi did? Jemima Kelly Add to myFT FT Alphaville Add to myFT Bitcoin Add to myFT Fintech Add to myFT Cryptocurrencies Add to myFT
A NEWLY launched cryptocurrency DogeZilla has exploded out of the gate – and some are wondering if this will be the next meme coin of preference.
Crypto Chase referred to the implications of sudden erratic price movements on exchanges, these serving to liquidate traders who should have retained their positions.