Bitcoin, Ether in green

Major cryptocurrencies were trading in the green early on October 10 as the global crypto market cap rose 0.90 percent to $947.07 billion over the last day. The total crypto market volume over the last 24 hours is $32.97 billion, which makes a 1.18 percent increase. The total volume in DeFi is currently $2.16 billion, which is 6.55 percent of the total crypto market 24-hour volume. The volume of all stable coins is now $30.08 billion, which is 91.22 percent of the total crypto market 24-hour volume. The price of bitcoin hovered around Rs 16 lakh, with a dominance of currently 39.48 percent, which is a decrease of 0.16 percent over the day, according to Coinmarketcap. Read full here

NFT platform OpenSea’s CFO exits role in another crypto shake-up

The crypto management carousel just keeps on spinning. The latest in a spate of C-suite departures in the sector comes from nonfungible token marketplace OpenSea, where Brian Roberts has exited from the role of chief financial officer after less than a year in the job. Roberts, who joined the NFT platform in December after seven years at ride-sharing firm Lyft Inc., said in a LinkedIn post he’ll be an adviser to OpenSea. “I remain incredibly bullish on web3 and especially OpenSea,” Roberts said in the post. Web3 is a vision of a decentralized internet built around blockchains. The digital-asset sector has shed $2 trillion in value since a November 2021 peak, crushed by tightening monetary policy and blowups at crypto firms. Read details here

Private crypto coins undermine financial stability: RBI note

A Reserve Bank of India (RBI) concept note on central bank digital currency (CBDC) has flagged risks posed by private cryptocurrencies saying these digital assets undermine India’s financial and macroeconomic stability because of their negative consequences for the financial sector. “Further, a wider proliferation of cryptocurrencies has the potential to diminish monetary authorities’ power to determine and regulate monetary policy and the monetary system of the country, which could pose a serious challenge to the stability of the country’s financial system. Read more here