Cryptocurrency Prices Today April 11: Bitcoin down, Polkadot biggest loser

Cryptocurrencies traded in the red early on April 11. The global crypto market cap is $1.93 trillion, a 2.86 percent decrease over the last day. The total crypto market volume over the last 24 hours is $64.24 billion, which makes a 15.79 percent increase.

The total volume in DeFi is currently $8.52 billion, 13.26 percent of the total crypto market 24-hour volume. The volume of all stablecoins is now $52.39 billion, which is 81.55 percent of the total crypto market 24-hour volume.

Bitcoin's price is currently Rs 33.41 lakh, with a dominance of 41.21 percent. This is a 0.26 percent increase over the day, as per CoinMarketCap data.

In the news is Bitcoin's brief drop below its 50-day moving average, with it sliding back further into the range in which it has traded this year. Bitcoin's drop below the key technical mark comes as rate concerns mount.

The largest cryptocurrency fell as low as $41,918 on Monday morning in Asia, retreating for the seventh day in the past eight days. Since peaking at just above $48,000 in late March, Bitcoin -- and other tokens -- have been dragged lower by concerns about tighter monetary policy. Even the buzz around last week’s Bitcoin 2022 conference in Miami wasn’t enough to reverse the trend.

Closer home, the official Twitter account of the University Grants Commission (UGC) India was hacked on Sunday, apparently by scammers claiming to be affiliated with the Azuki NFT project.

The Twitter handle @ugc_india currently has around 2,96,000 followers on the microblogging platform. On Sunday morning, many of these followers woke up to find the verified Twitter account of UGC India posting bizarre tweets.

The hackers changed the profile picture as well as the cover photo of the account to advertise anime-style characters known as Azukis. Launched just a couple of months ago, the Azuki collection of non-fungible tokens is currently among the world’s best-selling NFTs, according to Forbes.

UGC India’s Twitter account was restored soon after being hacked - but screenshots circulating online show that the hackers managed to share a number of tweets while they had control of the account.

Also, the Central Bureau of Investigation (CBI) on Sunday refuted reports that a team of the US’ Federal Bureau of Investigation (FBI) was in India to probe the alleged bitcoin case being investigated by the Karnataka Police, and termed the statements “speculative” and “without any basis”.

In a statement, the central agency said the FBI has not sent any team to India to conduct a probe in the matter nor has any request been made by the US probe agency to the CBI for conducting an investigation in this case.

“Accordingly, the question of according any permission for the probe by Competent Authority in India does not arise. CBI as the National Central Bureau for INTERPOL in India coordinates closely with international law enforcement agencies including FBI,” CBI spokesperson RC Joshi said.

The statement comes after the Congress on Friday asked whether the FBI is in India to investigate an alleged “Bitcoin scam” which the party had accused the BJP government in Karnataka of covering up last year.

As of 8.40 am on April 11, these are the prices of largest cryptocurrencies (data from WazirX):