Major cryptocurrencies were flatlining early on September 4 as the global crypto market cap declined 0.25 percent to $976.49 billion over the previous day. The total crypto market volume fell 29.24 percent to $44.39 billion over the last 24 hours.
The total volume in decentralised finance (DeFi) stood at $3.45 billion, 7.77 percent of the crypto market's 24-hour volume. The volume of all stablecoins was $40.35 billion, which is 90.89 percent of the crypto market 24-hour volume.
The price of bitcoin hovered around Rs 16.40 lakh. It dominates 38.83 percent of the market, a decrease of 0.19 percent over the day, according to CoinMarketCap.
Kyle McDonald, an independent researcher, predicts that the Bitcoin network may be "regulated away", causing the price of Bitcoin to collapse.
He recommends selling Bitcoin now.
The reason is that after the Ethereum blockchain switches to a drastically less energy-intensive method of validating transactions, known as "proof-of-stake", investors and regulators may realise that the energy-intensive method that both Bitcoin and Ethereum use now, called "proof-of-work", was never really necessary. Read more
At 8.30 am, these were the prices of the largest cryptocurrencies (data from WazirX):
| NAME | PRICE (INR) | 24H % |
| Bitcoin | 16,42,248 | -1.4% |
| Ethereum | 1,31,334.8 | -0.25% |
| Tether | 84.55 | -0.65% |
| Cardano | 40.50 | 7.71% |
| Binance Coin | 22,825.30 | 2.24% |
| XRP | 26.9502 | -2.7% |
| Polkadot | 600.61 | -1.53% |
| Dogecoin | 5.2499 | 1.54% |
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