The global cryptocurrency market-capitalisation dipped by 5.17 percent over the last 24 hours to $1.88 trillion, while the trading volume over the same period tumbled by 11.81 percent to $66.35 billion.
Decentralised finance (DeFi), which accounted for 12.63% of crypto trading volume at $8.38 Billion, was outnumbered by stablecoins at 76.45% at $50.72 Billion. Bitcoin’s market dominance jumped 0.18 percent to 40%.42 percent, and it traded at $39913.93 this morning.
In rupee terms, Bitcoin dropped 4.02 percent to trade for Rs 32,27,000, while Ethereum fell 5.43 per cent to Rs 2,36.441.4
Cardano fell 7.15 percent at Rs 100.48, while Avalanche dropped 7.13 percent at Rs 6,200. Over the past 24 hours, Polkadot dropped 5.47 percent at Rs 1,850 while Litecoin fell 7.3 percent to R 10,249.68. Tether rose 1.01% to Rs 80.77.
Memecoin SHIB dropped 5.11 percent while Dogecoin fell by 5.22 percent, trading at Rs 12.38. Terra (LUNA), fell 2.7 percent to Rs 6336.6
Crypto.com, fourth-largest cryptocurrency exchange in the world, has admitted that it had lost funds as a result of a security breach. There were 483 affected users. The incident resulted in unauthorized withdrawals of 4,836.26 Ethereum and 443.93 Bitcoin. This amounts to approximately $33.84 million at current prices.
He said that Crypto.com halted withdrawals immediately after it detected8 that “some defense layers were breached”, fixed the issue and was “back online within 13 to 14 hours.”
Crypto.com also announced the creation of the Worldwide Account Protection Program (WAPP). This program is designed to protect user funds when unauthorized third parties gain access to user accounts and withdraw funds without user permission. WAPP allows for the possibility of restoring funds up to $250,000.
According to Bloomberg, chair Gary Gensler said that cryptocurrency exchanges will be subject to stricter scrutiny by the Securities and Exchange Commission.
“I have asked staff to examine every avenue to get these platforms into the investor protection remit. The SEC chair said that if the trading platforms are not regulated, it would be another year of vulnerability to the public,” he stated during a virtual conference.
Twitter announced yesterday that some users will now be able import NFTs from crypto wallets to use as profile pictures. The service is currently only available to users who subscribe to the company’s Twitter Blue subscription. Twitter has also restricted the release to iOS users, but said that Android and web users can see when a user updates their profile photos to NFT.
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