Cryptocurrency Prices Today April 12: Bitcoin down, dogecoin slides nearly 9.56%
Cryptocurrencies traded in the red on April 12 morning. The global crypto market cap was $1.83 trillion, a 6.23 percent decrease over the previous day. The total
cryptocurrency market volume over the last 24 hours was $101.87 billion, up 59.25 percent. The total volume in DeFi was $13.01B, 12.77 percent of the total crypto market 24-hour volume. The volume of all stable coins was $85.90 billion, which was 84.32 percent of the crypto market's 24-hour volume. Read more
here.
Double whammy for crypto volumes as MobiKwik pulls rug from under exchanges in wake of stiff tax laws
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Crypto trading has been dealt a double whammy by tax implementation and MobiKwik withdrawing its services across exchanges on April 1 amid unclear regulations. Volumes have fallen further from the last week by over 50 percent on average across crypto exchanges, according to data shared by crypto research firm CREBACO. WazirX saw a drop of 72 percent, while volumes on CoinDCX and Zebpay dropped over 52 and 59 percent, respectively. The MobiKwik wallet was one of the most preferred modes of payment to purchase cryptos across many exchanges, and with that being withdrawn customers are being forced to use payment methods like bank transfers. It was also the only wallet being used by exchanges. Read more here.
Coinbase to Produce Bored Ape Yacht Club Animated Short Films
The Bored Ape Yacht Club will officially expand into the entertainment world with a series of animated short films produced by Coinbase, titled
The Degen Trilogy. Created with the approval of Yuga Labs,
The Degen Trilogy will feature characters based on the Bored Ape Yacht Club, a collection of 10,000 disinterested-looking ape NFTs, and ApeCoin, the recently-launched governance token for Yuga’s expanding Web3 ecosystem. The first film in the series will debut at NFT.NYC in June, with two other entries to follow over the next year. Read more
here.
Binance Deepens West Asia Expansion With Abu Dhabi Approval
Cryptocurrency exchange Binance has obtained a provisional green light from Abu Dhabi regulators, deepening its expansion in West Asia. The company said on April 11 it was given approval “in principle” by the Financial Services Regulatory Authority of Abu Dhabi Global Market to operate as a broker-dealer in digital assets. The firm said the move was an initial step toward becoming a “fully-regulated virtual asset service provider” in the city. It’s the second city Binance has secured approval from —the company received a crypto licence in Dubai in March. The move also comes after Binance was authorised in Bahrain by the country’s central bank. Binance has been pushing into the West Asian market after getting a frosty reception elsewhere. In the UK, regulators placed restrictions on the firm, barring it from undertaking any regulated activity. In Singapore, it limited its service after the country’s central bank warned it may be in violation of local payment laws. Read more here.
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