Major cryptocurrencies traded in the red early today on September 16 as the global crypto market cap declined 2.71 percent to $960.06 billion over the last day. On the other hand, the total crypto market volume jumped 9.49 percent to $84.26 billion during the last 24 hours.
The total volume in DeFi is stood at $5.70 billion, 6.76 percent of the total crypto market 24-hour volume. The volume of all stable coins was $77.52 billion, which is 92.01 percent of the total crypto market 24-hour volume.
The price of Bitcoin hovered around Rs 16.73 lakh, with a dominance of 39.40 percent. This was a 0.43 percent increase over the day, according to data from CoinMarketCap.
In international news, a South Korean court has issued an arrest warrant for Do Kwon, the primary developer of cryptocurrencies Luna and TerraUSD, whose spectacular collapse in May roiled crypto markets around the world. Kwon, also the founder of blockchain platform Terraform Labs, has been accused of fraud by investors in the wake of the collapse.
"An arrest warrant has been issued for a total of six people, including Do Kwon, who are currently residing in Singapore" a spokesperson for prosecutors said on Wednesday without elaborating on the reason.
On the corporate side, global banking giant JPMorgan is among the entities leading the series A funding round for digital asset start-up Ownera. The start-up is building digital infrastructure to connect tokenized asset networks with traditional finance world, and has raised $20 million during the funding round.
The move assumes significance coming on the back a severe turmoil in the cryptocurrency market earlier this year, when a series of selloffs tempered prices from record highs. Notably, JPMorgan Chase was among the first of the big banks to place a bet on digital assets last year, even though its chairman and CEO Jamie Dimon had been a vocal critic of Bitcoin in the past.
We also bring you stories on how El Salvador's endeavour as the first nation to make Bitcoin legal tender, was a spectacular failure. Most notably, the government spent more than $100 million on buying Bitcoin which are now worth less than $50 million.
We also tell you all you need to know about the Ethereum merge which happened on September 15. After six years in the making, the second-most valuable cryptocurrency switched from a proof-of-work (PoW) model to a proof-of-stake (PoS) one, which is projected to be significantly more energy and cost-efficient.As of 8.22 am on September 16, these are the prices of largest cryptocurrencies (data from WazirX):
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