Bitcoin at Rs 16.80 lakh

Major cryptocurrencies were trading in red early on August 28. The global crypto market cap was at $968.18 billion, a 0.73 percent decrease over the previous day. The total crypto market volume over the last 24 hours was $63.70 billion, a 31.54 percent decrease. The total volume in DeFi stood at $4.27 billion, 6.71 percent of the total crypto market 24-hour volume. The volume of all stable coins was now $57.30 billion, which is 89.95 percent of the total crypto market 24-hour volume. The price of the bitcoin hovered around Rs 16.80 lakh. Its dominance is currently 39.60 percent, a decrease of 0.21 percent over the day, according to CoinMarketCap. Read more here.

ED search at CoinSwitch premises not linked to money laundering, says CEO Ashish Singhal

The recent searches carried out by the Enforcement Directorate (ED) at the premises of CoinSwitch Kuber were not related to alleged money laundering, Ashish Singhal, the chief executive officer of the cryptocurrency exchange, was reported as saying on August 27. Read more details here.

Coinbase will consider listing ethereum forks following Merge

With ethereum’s long-anticipated merge just around the corner, crypto exchanges are now having to decide whether to support a controversial attempt to resist the transition. On August 25, America’s largest crypto exchange signaled it may be willing to do so. Coinbase will consider listing forked, proof-of-work versions of Ethereum as they arise post-merge, the company announced in a blog post. (Decrypt)

Bitcoin slips below $20,000 after Fed chair's comments in Jackson Hole

Bitcoin (BTC) continued its bearish action on August 26 night and slipped below the key $20,000 mark to $19,907, according to CoinMarketCap. It's a monthly low for August and the first time bitcoin went below $20k since July 14. Read details here.