Cryptocurrency Prices Today on January 7: Tepid markets as Bitcoin, Ethereum fall
Bitcoin dipped 1.13 percent to trade at Rs 34,53,914 while Ethereum tumbled 3.67 percent to Rs 2,72,036. Cardano rose 2.78 percent to Rs 101.59 and Avalanche tumbled 2.64 percent to Rs 7,482.39. Polkadot fell 0.09 percent to Rs 2,113.47 and Litecoin rose 1.12 percent at Rs 10,922.3 over the last 24 hours. Tether rose 0.25 percent to trade at Rs 80.19.
The global crypto market capitalisation fell by 0.99 percent over the last 24 hours to $2.05 trillion while the total trading volume dipped substantially by 11.45 percent to $103.17 billion on January 7.
While DeFi accounted for 16.94 percent of the trading volume at $17.47 billion, stablecoins made up 77.63 percent at $80.09 billion. The market dominance of Bitcoin tumbled 0.02 percent to 39.64 percent today morning. It is currently trading at $42,957.71.
As for major cryptocurrencies, Bitcoin dipped 1.13 percent to trade at Rs 34,53,914 while Ethereum tumbled 3.67 percent to Rs 2,72,036.
Cardano rose 2.78 percent to Rs 101.59 and Avalanche tumbled 2.64 percent to Rs 7,482.39. Polkadot fell 0.09 percent to Rs 2,113.47 and Litecoin rose 1.12 percent at Rs 10,922.3 over the last 24 hours. Tether rose 0.25 percent to trade at Rs 80.19
Memecoin SHIB rose 2.29 percent while Dogecoin rose 0.87 percent to trade at Rs 12.22. Terra (LUNA) dipped around 0.65 percent to Rs6,080.01.
Ethereum popularized decentralized finance, and app developers on the network turned it into a $250 billion sector. But its percentage of the pie may shrink in 2022, per investment bank JPMorgan Chase.
According to an investment note shared by the bank, sharding—a method for drastically scaling up the number of transactions that can be executed on a blockchain—"might arrive too late" for Ethereum to stave off increased market competition from alternative blockchains.
The note also mentioned that Avalanche, Binance Smart Chain, Solana, and Terra have been able to provide many of the same types of applications as Ethereum with higher speeds and lower fees. However, Ethereum devs and contributors say their focus on security gives the network a solid foundation upon which to grow
Crime involving cryptocurrencies surged to a new high of $14 billion in 2021, according to blockchain analytics firm Chainalysis in its annual Crypto Crime report released yesterday. This is an increase of 79% in value from the $7.8 billion figure from 2020.
Crypto-Related Crime Hit Record $14B in 2021—But Shrank by Volume: Chainalysis
Crime involving cryptocurrencies surged to a new high of $14 billion in 2021, according to blockchain analytics firm Chainalysis in its annual Crypto Crime report released on Thursday. This is an increase of 79 percent in value from the $7.8 billion figure from 2020. But this activity represented just 0.15% of the total of $15.8 trillion in crypto transaction volumes recorded over the course of the year—the lowest percentage ever.
Crime involving cryptocurrencies surged to a new high of $14 billion in 2021, according to blockchain analytics firm Chainalysis in its annual Crypto Crime report released on Thursday. This is an increase of 79% in value from the $7.8 billion figure from 2020, mostly thanks to the surge in crypto prices in 2021.
But this activity represented just 0.15% of the total of $15.8 trillion in crypto transaction volumes recorded over the course of the year—the lowest percentage ever.
For comparison, the illicit share of all cryptocurrency transaction volume was 3.37% in 2019, and 0.62% last year, with the overall translation volume spiking by 567% from 2020’s totals, according to data from Chainalysis.
“Given that roaring adoption, it’s no surprise that more cybercriminals are using cryptocurrency,” Chainalysis said. “But the fact that the increase was just 79%—nearly an order of magnitude lower than overall adoption—might be the biggest surprise of all... Crime is becoming a smaller and smaller part of the cryptocurrency ecosystem."
Ethereum Devs Dismiss JPMorgan Warning About End of DeFi Dominance
Investment bank JPMorgan says that the delay of sharding may make it difficult for Ethereum to compete with rival chains for DeFi market share in the future. However, Ethereum devs and contributors say their focus on security gives the network a solid foundation upon which to grow.
Castlevania’s Konami Is Latest Video Game Giant to Jump Into Ethereum NFTs
Japanese publisher Konami will release a series of Ethereum NFTs based on its classic Castlevania series, marking the 35th anniversary of the storied video game franchise. Konami will release 14 single-edition NFTs inspired by the game franchise, with some featuring classic gameplay footage and music, and others based on familiar franchise artwork.
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