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Last Updated : October 07, 2022 / 08:56 AM IST
Top Cryptocurrency News On October 7: Major cryptos in red, exchanges cut fees and more<!– 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 and Ether in red
Major cryptocurrencies were trading mixed early on October 7 as the global crypto market-cap declined 1.39 percent to $957.46 billion, over the last day. The total crypto market volume dropped 5.82 percent over the last 24 hours to $55.96 billion. The total volume in DeFi stood at $3.11 billion, which is 5.55 percent of the total crypto market 24-hour volume. The volume of all stable coins was $51.82 billion, which is 92.59 percent of the total crypto market 24-hour volume. Read full here
Big Story
Crypto hostages recount horrifying experience
Two months ago, Abdul (name changed) made the decision to leave India in search of a better life, just like millions of other Indians who do the same thing every year. Armed with a college degree, Abdul, who hails from Telangana, had tried his hand at a few jobs in India but found that the income was never enough. When he was approached by a travel agency, which informed him of a data-entry operator position in Thailand paying Rs 1 lakh per month, the 26-year-old jumped at the chance. And so began Abdul’s extraordinary journey, which took him to a remote area in Myanmar, across the Thailand border, where he was put up in “big buildings” and asked to work not as a data entry operator but as a crypto scammer.” Read details here
Coins
Crypto exchanges cut fees to gain market share from rivals
Crypto exchanges are taking a page from mainstream brokers. To drum up business, the biggest exchanges are cutting fees. The crypto-market crash damped trading volumes, putting more pressure on crypto exchanges. Companies are hoping lower fees will help them capture market share from rivals. Over the past decade, Wall Street brokers and fund managers eliminated fees on stock trading and a host of investment products to win over customers. In many cases, the biggest asset managers have benefited the most from low fees because their scale allows them to still turn a profit—and funnel clients into higher-margin products. Take a look
The Week on Dalal Street | Weekly wrap of market trends, stock moves & what to look out for!
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited.
Copyright © e-Eighteen.com Ltd All rights resderved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited.
