Business
oi-Sneha Kulkarni
Following a huge surge over the weekend, major cryptocurrencies saw little activity on Monday. However, when investors became more cautious, the majority of them were trading in the red.
Mudrex, a crypto asset management platform, has created ‘coin sets,’ which allow users to participate in a number of crypto products that are similar to mutual funds. It’s the first time a product like this has been made available to individual investors. Previously, only HNIs and institutional investors had access to such investment products.
The global crypto market valuation is now $2.47 trillion, down 0.87 percent from the previous day. The overall crypto market volume over the last 24 hours has increased by 16.79 percent to $97.09 billion dollars. The overall 24-hour volume of all stable coins is now $76.48 billion dollars, accounting for 78.77 percent of the total crypto market volume.
The price of bitcoin is currently $61,229.36. Bitcoin’s market share is now 46.79 percent, up 0.51 percent from the previous day.
Valve has announced that all games that use blockchain to swap cryptocurrencies and non-fungible tokens (NFT) will be removed from Steam, raising some concerns about the future of NFTs in the video game industry.
The USDC stablecoin, which is used to oil the wheels of cryptocurrency trading, has entered the Hedera Hashgraph ecosystem.
The introduction of USDC opens the door to large-scale development around areas like decentralised finance, as Hashgraph, an alternative to blockchains that uses directed acyclic graphs to time-sequence transactions without bundling them into blocks, sees the introduction of USDC opening the door to large-scale development around areas like decentralised finance (DeFi).
Bitcoin’s (BTC) market trend of crashing by over 80% after big bull runs may be coming to a stop.
According to Pantera Capital, a hedge fund based in California, this is the case. The paper goes on to say that recent price dips in BTC have been less severe than in the past.
Story first published: Monday, October 18, 2021, 17:08 [IST]