Cryptocurrency prices plummet, exchange transactions falter as obstacles arise; Bitcoin is down 17 percent

The price of cryptocurrencies plummeted and the crypto trade was delayed on Tuesday, a day when El Salvador struggled as the first country to adopt Bitcoin as its legal currency. Shares of blockchain-related companies also fell as encryption stocks were hit by disruptions in the trading platform. But the main focus was on El Salvador, … Read more

Ethereum Rival Solana jumps to 7th place in the Top 10 of cryptocurrencies

The Solana network-linked cryptocurrency jumped to seventh in the world’s 10 largest virtual currencies amid optimism that the blockchain could be a long-term competitor to Ethereum. Solana’s SOL token tripled in about three weeks and now has a market value of over $41 billion (about INR 2,99,640 crores), according to CoinGecko. Proponents trumpet the alleged … Read more

Reese Witherspoon invests in Ethereum, Paris Hilton says she loves bitcoin

The cryptocurrency attracted the attention of businessmen and celebrities. Academy Award-winning actress Reese Witherspoon recently said she bought her first Ethereum coin. This was followed by another celebrity, socialite-entrepreneur Paris Hilton, who shared her love of Bitcoin on Twitter. Ethereum and Bitcoin are the two main cryptocurrencies in terms of market capitalization. Witherspoon, however, did … Read more

Nigeria to launch its own ‘eNaira’ cryptocurrency in partnership with Bitt

Nigeria will work with Bitt as a technical partner in its bid to launch its own cryptocurrency, the “eNaira,” the central bank said on Monday. The central bank announced plans to launch its own digital currency later this year after Nigeria banned banks and financial institutions from trading or facilitating transactions in cryptocurrencies in February. … Read more

CryptoPunks becomes the second Ethereum-based NFT project to achieve $1 billion in lifetime sales

CryptoPunks – the popular non-fungible token (NFT) project – surpassed the $1 billion mark (about Rs. 7,330 crores) in sales of all time on August 28 to become only the second NFT project to have reached the done. CryptoPunks, which consists of 10,000 Ethereum-based NFTs, currently ranks second with an all-time sale of $1.16 billion … Read more

Bitcoin’s 60 percent rise from July lows may be running out of steam

Bitcoin’s burst above the $50,000 level (about Rs. 37.1 lakhs) did not last long and chart patterns signal that its rally since July is at risk of weakening. The largest cryptocurrency fell 4.4 percent on Thursday to $46,588 (about Rs. 34.6 lakhs), with other tokens including Ether retreating along with the Bloomberg Galaxy Crypto Index. … Read more

NFT sales rise as speculators pile up, skeptics see bubble

Sales of non-fungible tokens (NFT) surged in August, according to the biggest platform for the growing digital asset class, as speculators bet growing interest in the arts, sports and media worlds will keep prices rising. The niche cryptocurrency asset, which is a blockchain-based record of ownership of a digital item such as an image or … Read more

Visa buys a CryptoPunk for $165,000, says it is entering ‘a new era of NFT commerce’

Visa – the global payments technology company – is the latest major company to join the growing non-fungible token (NFT) craze. It announced that it has purchased a CryptoPunk, one of thousands of NFT-based digital avatars, for nearly $165,000 (about Rs. 1.22 crores) paying just under ETH 50. An NFT is a unique digital asset … Read more

Cryptocurrency scheme involving $22 million discovered in UK, victims spread around the world

Cryptocurrencies worth $22.2 million (about Rs. 165 crores) were seized by UK police after a global fraud scheme was uncovered. They found pen drives containing large amounts of Ethereum, the second largest cryptocurrency in the world after Bitcoin. The Greater Manchester Police (GMP) said the scheme deceived people from the UK, the US, Europe, China, … Read more