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Last Updated : July 21, 2022 / 11:41 AM IST
Top Cryptocurrency News on July 21: Tesla sells bitcoin holdings, Zipmex suspends withdrawals and more<!– Moneycontrol Daily | Your Essentials 7 –>
A daily round-up of the most interesting stories on cryptocurrency to jump-start the day
Market Buzz
Bitcoin, Ethereum fall up to 5%
Major cryptocurrencies were trading in the red early on July 21, with the global crypto market cap declining 3.46 percent to $1.02 trillion over the previous day. The total crypto market volume declined 6.03 percent to $95.32 billion over the last 24 hours. The total volume in DeFi stood at $8.27 billion, 8.68 percent of the total crypto market 24-hour volume. The volume of all stablecoins was at $86.78 billion, which is 91.04 percent of the total crypto market 24-hour volume. Read more
Big Story
Southeast Asian crypto exchange Zipmex suspends withdrawals
Southeast Asia-focused cryptocurrency exchange Zipmex has suspended withdrawals, the company tweeted on July 20 night, with an executive of its Thai affiliate citing liquidity difficulties at crypto lenders Babel Finance and Celsius. Zipmex, which says it operates in Singapore, Thailand, Indonesia and Australia, is the latest in a string of crypto players globally to run into difficulties following a sharp selloff that started in May with the collapse of two paired tokens, Luna and TerraUSD. The company’s tweet cited “volatile market conditions and the resulting financial difficulties of our key business partners” for the suspension. Read More
Bitcoin Buzz
Elon Musk ‘open to buying’ more bitcoin even as Tesla dumps most crypto holdings
Elon Musk-led Tesla has converted approximately 75 percent of its bitcoin purchases into fiat currency, which added $936 million of cash to its balance sheet, the electric carmaker said on July 20 as part of its regular quarterly update. In the conference call, Musk said the sale was made to increase liquidity when Tesla was uncertain about how long the COVID-19 lockdown in China would continue. Read More
Simply Save | Why you must file your income-tax returns by July 31
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