Bitcoin at Rs 17.80 lakh

Major cryptocurrencies were trading flat early on August 24. The global crypto market cap was $1.02 trillion, a 0.08 percent increase over the previous day. The total crypto market volume over the last 24 hours was $70.58 billion, which makes a 0.05 percent increase over the previous day. The total volume in DeFi, or decentralised finance, stood at $5.32 billion, 7.54 percent of the total crypto market 24-hour volume. The volume of all stablecoins was at $64.29 billion, accounting for 91.09 percent of the crypto market's 24-hour volume. The price of bitcoin hovered around Rs 17.80 lakh. Bitcoin’s dominance was 39.86 percent, a fall of 0.01 percent over the day, according to CoinMarketCap. Read more here.

[content][title]Crypto exchange Coinstore introduces futures credit feature for investors[/title][body]
Global cryptocurrency exchange Coinstore.com has launched its futures credit feature which will allow investors to increase their crypto holdings without actually using their funds. This will benefit investors who prefer to buy and hold digital assets for longer periods to further capitalise on market movements. Read details here.

Chingari launches 'video' NFT marketplace

Short video platform Chingari on August 23 launched Creator Cuts, its video non-fungible token (NFT) marketplace. NFT buyers will get 10 percent of the daily income, in Gari token, earned by creators from the videos shared on the Chingari app. Read more here.

As India holds one of the top positions among top crypto investors government cracks a whip to control it

The United Nations Trade and Development (UNCTAD) recent report where-in it stated that 7.3% of Indians either own or had owned digital assets in the shape of cryptos in 2021, has raised several eyebrows. One of the main concerns is that if that cryptocurrency could unofficially replace national currencies if allowed to grow unchecked.  (The Financial Express)

Coinbase CEO says exchange is cutting costs, focusing on subscriptions

Badly battered by the crypto bear market, Coinbase is cutting costs and shifting its revenue model, says CEO Brian Armstrong. In Q2 of this year, Coinbase saw a 60% drop in revenue and reported a $1.1 billion net loss. In an interview with CNBC published Tuesday, Armstrong reflected on the crypto exchange’s decade-long history and plans for the future. (Decrypt)