The global cryptocurrency market-capitalisation dipped by 5.17 percent over the last 24 hours to $1.88 trillion, while the trading volume over the same period tumbled by 11.81 percent to $66.35 billion.
While decentralised finance (DeFi) accounted for 12.63 percent of the total 24-hour crypto trading volume at $8.38 billion, stablecoins made up 76.45 percent at $50.72 billion of the total volume. Bitcoin's market dominance surged 0.18 percent to 40.42 percent and it was trading at $39,913.93 today morning.
In rupee terms, Bitcoin fell 4.02 percent to trade at Rs 32,27,000 while Ethereum fell 5.43 percent to Rs 2,36,441.4
Cardano dipped 7.15 percent to Rs 100.48 and Avalanche declined 7.13 percent to Rs 6,200. Polkadot fell 5.47 percent to Rs 1,850 and Litecoin declined 7.3 percent to Rs 10,249.68 over the last 24 hours. Tether rose 1.01 percent to Rs 80.77.
Memecoin SHIB fell 5.11 percent, while Dogecoin decreased by 5.22 percent to trade at Rs 12.38. Terra (LUNA) declined 2.7 percent to Rs 6,336.6
Crypto.com, the industry's fourth-largest cryptocurrency exchange, admitted it lost user funds due to a recent security breach. The incident affected a total of 483 users, resulting in unauthorized withdrawals totalling 4,836.26 Ethereum, 443.93 Bitcoin, and approximately$66,200 in other cryptocurrencies, or roughly $33.84 million in current prices.
According to him, Crypto.com quickly paused withdrawals after detecting8 that "some of the defence layers were breached," fixed the issue, and was "back online in about 13 to 14 hours."
Incidentally, Crypto.com has also announced the launch of the Worldwide Account Protection Program (WAPP), which is "designed to protect user funds in cases where a third party gains unauthorized access to their account and withdraws funds without the user's permission."WAPP opens up a possibility to restore funds up to $250,000.
Cryptocurrency exchanges can expect stricter scrutiny from the Securities and Exchange Commission (SEC), according to chair Gary Gensler, per Bloomberg.
"I've asked staff to look at every way to get these platforms inside the investor protection remit. If the trading platforms don't come into the regulated space, it'd be another year of the public being vulnerable," the SEC chair reportedly said during a virtual conference.
Twitter announced yesterday that certain users will be able to import NFTs from their crypto wallets and post them as their profile pictures on the popular social media service. For now, the service is only available to those who sign up for the "Labs" feature via the company's Twitter Blue subscription service. Twitter is also limiting the release to iOS users but says Android and web users will be able to see when a user changes their profile pics to an NFT.
As of 8:30 am, these were the prices of various cryptocurrencies in the Indian market (Data from WazirX)
|Cryptocurrency||Price (in Rs)||24-hour change (in percent)|