Top cryptocurrency news on November 1: Major stories on Bitcoin, crypto assets and advertisements

Cryptocurrency prices continue to be in the red on November 1. The global cryptocurrency market cap is Rs 197.08 lakh crores, a 0.56 percent decrease over the last day, while the total crypto market volume over the last 24 hours is Rs 9,982.02 crores, which makes a 7.40 percent decrease. Bitcoin's price is currently Rs 48,45,010  and its dominance is currently 43.98 percent, an decrease of 0.40 percent over the day. Meme cryptocurrency Shiba Inu tops the WazirX exchange in terms of volume with Tether and Bitcoin trailing behind on second and third respectively. Read full here.

The rapid growth of the crypto ecosystem presents new opportunities, the IMF has said but also cautioned that the digital currency assets pose financial stability challenges. Cryptocurrencies are digital or virtual currencies in which encryption techniques are used to regulate the generation of their units and verify the transfer of funds, operating independently of a central bank. The rapid growth of the crypto ecosystem presents new opportunities. Read more here.

The Chinese authorities are keen to promote their official digital currency and want to suppress the growth of cryptocurrencies. The running joke in the cryptocurrency world is China has for the hundredth time banned cryptocurrency. With every ban, its impact on the cryptocurrency market keeps reducing. This time around, it barely lasted a day. Read more here.

The buzz around the digital currency in India doesn't seem to be dying. Despite high volatility and lack of government regulation associated with cryptocurrency, its exchanges are thriving. Flushed with investor funds, crypto startups are pumping in big money into advertising to attract users. Decoding how crypto exchanges are using mainstream and social media to fuel the crypto craze among more seasoned and young investors. Read more here.