Top cryptocurrency news on September 7: Bitcoin at Rs 16 lakh, mining pool freezes withdrawals and more

The global crypto market cap increased 5.13 percent to $941.28 billion over the previous day. The total crypto market volume increased 39.52 percent to $87.71 billion over the last 24 hours. The total volume in DeFi stood at $6.94 billion, 7.91 percent of the total crypto market 24-hour volume. The volume of all stablecoins was $80.81 billion, which is 92.14 percent of the total crypto market 24-hour volume. The price of bitcoin hovered over Rs 16 lakh. Its dominance is currently 38.26 percent, which is a decrease of 0.04 percent over the day, according to CoinMarketCap. Read full here

Poolin–a Beijing-based bitcoin mining pool that’s responsible for 10 percent of the overall bitcoin network hash rate–recently announced a freeze on user withdrawals. Mining pools are groups of miners that unite their efforts around one network node to mine as much bitcoin as possible. The miners then share the spoils but only if the pool operator has the will and means to distribute them. Poolin said it was “facing some liquidity issues” due to rising demand for withdrawals and announced a number of measures to stabilise its operations. These included pausing withdrawals from its Pool Account, and temporarily suspending its BTC and ETH balance payouts. Read details here

The David Bowie estate is launching NFTs with OpenSea next week but many fans aren't impressed. Nine different visual artists have created Bowie-inspired NFTs as a part of the “Bowie on the Blockchain” NFT launch, with 100 percent of the proceeds to be donated to CARE, a nonprofit organisation focused on fighting world hunger and global poverty. “On September 13th, David Bowie’s undying influence will impact yet another new frontier as nine of the world’s leading crypto-artists come together to celebrate his legacy and put #BowieOnTheBlockchain,” OpenSea wrote on Twitter on September 6. Take a look