Cryptocurrency Prices Today August 6: Bitcoin down, Cardano biggest laggard

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Cryptocurrencies traded in the red early today on August 6. The global crypto market-cap is $1.10 trillion, a 1.78 percent increase over the last day. The total crypto market volume over the last 24 hours is $69.41 billion, which makes an 11.22 percent increase.

The total volume in DeFi is currently $6.54 billion, 9.43 percent of the total crypto market 24-hour volume. The volume of all stable coins is now $63.07 billion, which is 90.86 percent of the total crypto market 24-hour volume.

The price of Bitcoin is currently Rs 18.56 lakh, with a dominance of 40.36 percent. This was a 0.35 percent decrease over the day, according to data from CoinMarketCap.

In the news, we quickly explain what happened in the Solana wallet hacks and decrypt how the attack happened and what can investors do to safeguard your crypto holdings.

Further, in the light of crypto lending platforms bearing the brunt of plunging cryptocurrencies in the first half of 2022, consecutively faltering and freezing withdrawals, and leaving hundreds of investors in the lurch. We explain what happens to investors’ money when these crypto firms go bust — and do investors have any recourse?

We also look at a white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” now referred to as the Bitcoin Whitepaper, was first released in October 2008 by Satoshi Nakamoto and included important information about how Bitcoin may enable a trust-less electronic payment system by utilising cryptographic evidence. The 14-year-old document describes how an alternative electronic cash system can allow payments to be sent directly from one party to another, without involving trusted parties like a financial institution.

As of 8.20 am on August 6, these are the prices of largest cryptocurrencies (data from WazirX):

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