A daily round-up of the most interesting articles on cryptocurrencies like Bitcoin, Ethereum and Tether to help jump-start the day
Bitcoin trading above Rs33 lakh
Cryptocurrencies were mixed early on January 10. The global cryptocurrency market cap is $1.97 trillion, a 0.13 percent increase over the last day. The total crypto market volume over the last 24 hours is $71.09 billion, a 22.95 percent decrease. The total volume in Defi is currently at $13.29 billion, 18.69 percent of the total cryptocurrency market’s 24-hour volume. The volume of all stablecoins is now $54.76 billion, which is 77.04 percent of the total crypto market’s 24-hour volume. Bitcoin’s price is currently Rs 33.90 lakh, and its dominance is 40.33 percent, a decrease of 0.16 percent over the day.
PayPal seeks to launch its own stable coin
PayPal has been inching its way into the cryptocurrency market. In 2020, it allowed people to buy and sell crypto, and make transactions but it is currently limited to the US. According to a statement given to Bloomberg by PayPal’s senior vice president of crypto and digital currencies Jose Fernandez da Ponte, the company is now exploring options to create its own stablecoin. Stablecoins are an offshoot of digital currency tied to the value of a stable reserve asset like the dollar, rupee, or the value of a tangible commodity, that can be redeemed.
Bitcoin, Ether & other altcoins: Top crypto trends, predictions for 2022
The crypto business grew massively in 2021 with El Salvador adopting bitcoin as legal tender and a wave of institutional money being deployed in this sector. We saw the rise of NFTs with Beeple’s $69 million dollars digital artwork sale as well as play-to-earn gaming entering the space. In this interview, Karthik Iyer, a blockchain expert, talks to consulting editor, Rahul Jagtiani, and offers deep insights into crypto trends in 2022 that include the future of Ethereum and other blockchains as well.
GameStop enters the NFT space; to allow customers to buy, sell, trade
Video game retailer behemoth GameStop is entering the NFT space, having already hired more than 20 people as part of a new unit that will focus solely on building this platform. Per Decrypt, a cryptocurrency news portal, rumors of the world’s largest video game and gaming merchandise retailers stepping into the NFT sphere had been doing the rounds since last year. Many job listings put out by the company in 2021 indicated that the company was looking for “exceptional engineers, designers, gamers, and marketers” to come aboard an Ethereum-based NFT project.