Bitcoin trading at $44,975

Cryptocurrency prices is in the red on August 13. The global cryptocurrency market cap is $1.88 trillion, a 3.02 percent decrease over the last day, while the total crypto market volume over the last 24 hours is $117.43 billion, which makes a 9.26 percent decrease. The volume of all stable coins is now $92.47 billion – 78.75 percent of the total crypto market 24-hour volume. Bitcoin's price is currently $44,975.90 and its dominance is currently 44.84 percent, an increase of 0.20 percent over the day. Read more here.

Ethereum posts outflows of $2.8 million in week

Ether, the token used in the Ethereum blockchain, also saw outflows of $2.8 million, from a nearly $9-million outflow the previous week, as per CoinShares data. This comes after Ethereum went through a major software upgrade to stabilise transaction fees and reduce supply of the ether token. Ether's supply is being reduced through "burning", in which  tokens are sent to specialized addresses that have unobtainable private keys. (Reuters)

US charges crypto executives for 1st time amid larger scrutiny

As the US goes after the unregulated cryptocurrency market, the Securities and Exchange Commission (SEC) has, for the first time, charged two crypto industry executives of illegally selling over $30 million of securities in unregistered offerings. The two executives from the Blockchain Credit Partners company used the Ethereum blockchain to sell cryptocurrencies to investors while misleading them about the company's profitability. "The charges came as the Joe Biden government is working on new regulations for the decentralised finance and cryptocurrency markets. The bipartisan infrastructure bill has left cryptocurrency players fuming in the US. (IANS)

Now, a coffee-backed cryptocurrency

A new cryptocurrency is making waves in the commodities and financial markets. It is the Coffee Coin that has made a promising beginning since it was launched in early July. It is attracting growers, producers and traders of coffee in Brazil, the world’s largest producer of the coffee. Moneycontrol looks at this unusual cryptocurrency. Read more here.