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Last Updated : July 31, 2022 / 09:34 AM IST
Top Cryptocurrency News on July 31: Bitcoin gains over 3%, Zipmex files for bankruptcy<!– Moneycontrol Daily | Your Essentials 7 –>
A daily round-up of the most interesting articles on cryptocurrencies like Bitcoin, Ethereum and Tether to help jump-start the day
Market Buzz
Bitcoin gains over 3%, Polkadot jumps 5%
Major cryptocurrencies traded in the green early on July 31 as the global crypto market cap rose 0.23 percent to $1.10 trillion over the last day. On the other hand, the total crypto market volume dropped 22.63 percent to $76.84 billion over the last 24 hours. The total volume in DeFi stood at $9.84 billion, 22.63 percent of the total crypto market 24-hour volume. The volume of all stable coins was $70.98 billion, which is 92.38 percent of the total crypto market 24-hour volume. Bitcoin’s price rose above 19 lakh. Bitcoin’s dominance stood at 41.39 percent, a decrease of 0.09 percent over the day, according to CoinMarketCap data. Read More
Big Story
The Merge is Ethereum’s chance to take over Bitcoin, researcher says
Ethereum researcher, Vivek Raman, is convinced that Ethereum’s upcoming transition to a proof-of-stake (PoS) system will enable it to take over Bitcoin’s (BTC) position as the most prominent cryptocurrency.“Ethereum does have, just from an economic perspective and because of the effect of the supply shock, a chance to flip Bitcoin,” said Raman in an exclusive interview with Cointelegraph.
Crypto Exchange
Southeast Asia-focused cryptocurrency exchange Zipmex files for bankruptcy
Southeast Asia-focused cryptocurrency exchange Zipmex said it had filed for bankruptcy protection in Singapore, becoming the latest victim of the global downturn in digital currencies. The collapse in cryptocurrencies is easing supply of the most sought after watches on the second-hand market, depressing prices for hard-to get-Patek Philippe and Rolex models. The supply of trophy watches such as the Rolex Daytona or Patek Nautilus 5711A “is now much larger,” online-watch trading platform Chrono24 said in an emailed statement, according to Bloomberg.
The Week on Dalal Street | Weekly wrap of market trends, stock moves & what to look out for!
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