Bitcoin at Rs 18.58 lakh

Major cryptocurrencies traded in the red early on August 16 as the global crypto market cap declined 2.90 percent to $1.15 trillion over from a day earlier. On the other hand, the total crypto market volume over the last 24 hours jumped 21.48 percent to $77.99 billion. The total volume in DeFi stood at $6.03 billion, 7.74 percent of the total crypto market 24-hour volume. The volume of all stable coins was at $71.28 billion, which is 91.40 percent of the total crypto market 24-hour volume. The price of Bitcoin hovered around Rs 18.78 lakh, with a dominance of 40.15 percent. This was a 0.10 percent increase over the day, according to data from CoinMarketCap. Read more here.

Price Discount on 'stETH' Reflects Some Doubt on Smooth Ethereum Merge

Crypto investors are eagerly awaiting the Merge, the Ethereum blockchain’s long-awaited technology upgrade. Most traders expect the event to go through smoothly. But the price of a popular ether (ETH) derivative token known as stETH suggests a slim chance that some glitches or delays will arise, based on a new analysis by market research firm Enigma Securities. (CoinDesk) Read more here.

Crypto bear hug: evaluating the performance of blue-chip and meme tokens