With the exception of major tokens like Bitcoin, Ethereum, and BNB, which gained around 1-3%, all other major crypto tokens were trading with minor losses on Friday. Avalanches dropped 5%, followed by a 4% drop at Terra.
The global cryptocurrency market capitalization traded at $1.80 trillion, down slightly in the past 24 hours. However, total cryptocurrency trading volume soared about 14% to $95.54 billion.
What’s cooking in India
The Indian government will provide “procedural clarity” on withholding tax (TDS) within two months, two people familiar with the matter said, Coindesk reported.
Even during hot summers, Indian crypto exchanges are going through harsh and prolonged winters, thanks to a major drop in their trading volumes, since the new regulations around virtual digital assets (VDAs) were enforced.
Bitcoin traded flat for another straight day, showing very little growth. It has been trading in a narrow range for the past few days, said Edul Patel, CEO and co-founder of Mudrex.
“A similar trend is likely to persist for a day or two. The second largest crypto, Ethereum, is also trading on similar lines, showing a slight increase. course of the last day. ,” he added.
- One of the world’s largest private equity investment firms with $498 billion in assets under management, Apollo Global Management, has made a major breakthrough in crypto by hiring the former JPMorgan (JPM) executive Christine Moy to be its first chief digital asset strategist, the company said on Thursday.
- Dubai, UAE-based luxury real estate developer Damac will soon accept crypto payments, joining the chorus of companies betting that the UAE will become a global crypto hub.
- Dogecoin is seeing renewed activity from whales, or big holders of the meme-driven cryptocurrency, according to on-chain data tracked by analytics firm IntoTheBlock.
- The United States, members of the European Union and 32 like-minded countries have said they want to see the internet remain open and global in the wake of threats of fragmentation, firewalls and breaches of privacy. private life.
- Cryptocurrencies have been trading as risky assets due to government and central bank stimulus measures, but tighter Federal Reserve policy means “liquidity-driven crypto momentum trading” will continue. is reversed, Morgan Stanley said in a note.