The worldwide crypto market valuation is $2.02 trillion, down 1.00 percent from the previous day. The overall crypto market volume over the last 24 hours has increased by 8.49 percent to $124.83 billion dollars.
As the short-squeeze rally takes a pause, Bitcoin (BTC) is locked in a sideways range. Buyers may begin to take profits ahead of the $50,000 resistance level, while a dip might be stabilised by support around $40,000-$42,000.
At press time, the world’s largest cryptocurrency was trading at around $46,900, essentially unchanged over the previous week.
Due to heightened foreign exchange and earnings volatility risk, El Salvador’s decision to adopt bitcoin as legal cash will likely be credit negative for local insurance companies with exposure to the cryptocurrency, Fitch Ratings said in a news statement on Monday.
Eqonex Group (previously Diginex), a blockchain services company, has launched an automated peer-to-peer crypto lending marketplace.
According to Charlie Beach, Eqonex’s Chief Risk Officer and head of lending, Eqonex is targeting institutions who want greater transparency than the over-the-counter (OTC) market offers but don’t trust decentralised finance (DeFi) protocols, which are prone to flash loans and hacks.
Alibaba Group Holding, a Chinese multinational e-commerce company, has developed a new nonfungible token (NFT) marketplace where trademark owners can sell tokenized rights to their intellectual property.
Huobi and Bybit crypto exchanges
Regulators all across the world are continuing to put pressure on cryptocurrency businesses. The National Securities Market Commission (CNMV) of Spain is the latest regulator to issue a warning about unregistered services in the crypto and financial markets.
US State Department
The US government is giving bitcoin prizes in exchange for information about the activities of hostile state-backed hackers or suspected terrorists.
The new “Rewards for Justice” program from the US State Department allows informants to submit anonymous tips and information in exchange for digital assets.
Top Cryptocurrency PricesBitcoin
Binance Coin: $430.72
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Story first published: Tuesday, August 17, 2021, 18:11 [IST]