The global cryptocurrency market registered a significant decrease of 6.15 percent over the last 24 hours, with the current market cap standing at 2.49 trillion dollars. Market volume or the quantum of transactions undertaken during the last 24 hours in the global crypto market surged by almost 14.82 percent.
The total volume in DeFi is currently 18.95 billion dollars, which stands at 12.74 percent of the total crypto market volume on an intraday basis. Over the same period, the volume for all stablecoins stands at 114.40 billion dollars.
Most crypto prices took a hit on November 18, with Bitcoin falling by 6.68 percent to trade at 56,788.86 dollars. Ethereum also fell by 6.60 percent and is currently trading at 4,041 dollars. Solana also declined by a sharp 11 percent and is presently priced at almost 195 dollars.
On the Indian front, PM Modi - in his keynote speech at the Sydney Dialogue on November 18 - called for partnerships between democratic nations to navigate through cryptocurrency, so that it is implemented properly and does not spoil the youth of the nation by landing in the hands of unsociable elements. RBI Governor Shaktikanta Das reiterated his deep concerns over cryptocurrency, adding that the decade-old blockchain technology can still thrive without the presence of crypto.
On the other hand, while major crypto players have decided to ease their advertisements and public outreach measures till there is definite clarity on the crypto regulations, Fintech startup Defy reportedly raised around 5.5 million dollars in a bid to build India's first social crypto exchange.WazirX)
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