Cryptocurrencies are in the red on June 8. Bitcoin's price is currently $33,704.96 and its dominance is 40.98 percent, a decrease of 0.01 percent over the day.
This comes after a slew of crypto-related accounts in China's Twitter-like Weibo platform were blocked over the weekend, as Beijing stepped up a crackdown on Bitcoin trading and mining. More actions are expected, including linking illegal crypto activities in China more directly with the country's criminal law, according to analysts and a financial regulator.
The global cryptocurrency market cap is $1.54 trillion, a 7.46 percent decrease over the last day, while the total crypto market volume over the last 24 hours is $102.17 billion, which makes a 28.13 percent increase.
The volume of all stable coins is now $81.97 billion, which is 80.23 percent of the total crypto market 24-hour volume.
Also Read | Trading in crypto? Here's how your profits will be taxed in India
Meanwhile, in India, Infosys co-founder Nandan Nilekani wants India to accept cryptocurrencies as an asset class, a strong sign of its growing acceptance in India even as it faces regulatory uncertainty. “Just like you have some of your assets in gold or real estate, you can have some of your assets in crypto. I think there’s a role for crypto as a stored value but certainly not in a transactional sense,” he said.
Nilekani, currently chairman of software giant Infosys and architect of the Aadhaar identity system in India still does not endorse cryptocurrencies as a mode of payment or as a substitute to government currency because of its volatility and energy zapping nature. But said that if the government legalises cryptocurrencies, it would allow “the crypto guys to put their wealth into India’s economy”.
As off 7.10 am on June 8, these are the prices of the 10 largest cryptocurrencies (data from coinmarketcap.com):
| Name | Price | 24h% | 7d% | Market Cap | Volume (24h) | |
| 1 | Bitcoin BTC | $33,675.70 | 7.44% | 9.70% | $631,277,015,257 | $35,637,873,440 |
| 2 | Ethereum ETH | $2,600.33 | 6.43% | 2.69% | $301,834,924,369 | $31,458,455,963 |
| 3 | Tether USDT | $1.00 | 0.01% | 0.03% | $62,319,583,935 | $73,104,009,582 |
| 4 | Binance Coin BNB | $361.48 | 10.07% | 2.12% | $55,450,318,052 | $3,065,867,151 |
| 5 | Cardano ADA | $1.57 | 7.65% | 8.80% | $50,133,533,170 | $2,790,815,046 |
| 6 | Dogecoin DOGE | $0.335 | 9.88% | 0.87% | $43,525,876,353 | $3,248,956,474 |
| 7 | XRP XRP | $0.8639 | 10.51% | 18.36% | $39,858,406,821 | $3,498,298,745 |
| 8 | USD Coin USDC | $1.00 | 0.01% | 0.01% | $23,065,555,340 | $2,000,438,507 |
| 9 | Polkadot DOT | $21.80 | 12.56% | 3.35% | $20,651,029,130 | $1,968,870,836 |
| 10 | Uniswap UNI | $24.18 | 8.18% | 12.99% | $13,652,375,740 | $493,611,281 |
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