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Cryptocurrency Prices Today on October 12: Bitcoin surges nearly 4%, Dogecoin falls

Bitcoin's price is currently Rs 44,45,270 and its dominance is currently 46.5 percent, an increase of 0.93 percent over the day

October 12, 2021 / 08:16 AM IST
Cryptocurrency (Representative image)

Cryptocurrency (Representative image)

Cryptocurrency prices continue to be mostly in red on October 12. The global cryptocurrency market cap is Rs 175.02 lakh crores, a 1.09 percent decrease over the last day, while the total crypto market volume over the last 24 hours is Rs 7,89,409 crores, which makes a 7.92 percent increase.

Bitcoin's price is currently Rs 44,45,270 and its dominance is currently 46.5 percent, an increase of 0.93 percent over the day.

Cryptocurrency exchange CoinDesk has released this year’s ranking for the Top Universities for Blockchain. While its Asian schools dominate the list, European universities improve in position.

In a blog post, the crypto platform said the National University of Singapore has claimed the top spot, followed by the Royal Melbourne Institute of Technology, University of California Berkeley, University of Zurich and the Massachusetts Institute of Technology, making up the top five.

The Singapore National University gained its top spot due to its multiple blockchain research centres, frequent blockchain-themed conferences, clubs, company partnerships and its masters programme in digital financial technology.

Also, Jamie Dimon, JPMorgan Chase & Co chief executive, said on Monday at a conference that cryptocurrencies will be regulated by governments and that he personally thinks bitcoin is "worthless."

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"No matter what anyone thinks about it, government is going to regulate it. They are going to regulate it for (anti-money laundering) purposes, for (Bank Secrecy Act) purposes, for tax," Dimon said, referring to banking regulations in a conversation held virtually by the Institute of International Finance.

Dimon, head of the largest U.S. bank, has been a vocal critic of the digital currency, once calling it a fraud and then later saying he regretted the statement.

This summer, JPMorgan gave wealth management clients access to cryptocurrency funds, meaning the bank's financial advisers can accept buy and sell orders from clients for five cryptocurrency products.

Stating that his views are different from those of the bank and its board, Dimon said he remains skeptical.

"I personally think that bitcoin is worthless," Dimon said. "I don't think you should smoke cigarettes either."

"Our clients are adults. They disagree. If they want to have access to buy or sell bitcoin - we can't custody it - but we can give them legitimate, as clean as possible access."

As off 7.50 am on October 12, these are the prices of largest cryptocurrencies (data from WazirX):
NAMEPRICE (INR)24H %
Bitcoin44,45,2703.68%
Ethereum2,79,0001.21%
Tether77.840.21%
Cardano172.0079-1.15%
Binance Coin32,5500.43%
XRP90.1998-1.63%
Polkadot2,736.96-3.63%
Dogecoin18.331-3.11%
 [Input from Reuters]
Moneycontrol News
first published: Oct 12, 2021 08:16 am

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