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Bitcoin Price Crosses $22K, Ethereum Price Again Growing, Crypto Market Brings New Shape

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Data from CoinGecko shows that the Bitcoin Price has currently increased by 9.1% week-on-day. As we already mentioned in our previous articles cryptocurrency prices holds volatile nature. Sometimes it goes very high and sometimes drops. Only an expert can flow with its redem. Also Check: youtube for mp3

On Monday, The Altcoins played a key role in taking the overall crypto market forward. Commonly less popular crypto assets are known as altcoins. Talking the world’s most popular cryptocurrency Bitcoin (Bitcoin), it is upwards of $22,000. Bitcoin has seen a growth of 2.82% in the last 24 hours and is priced at close to $21,800 (about Rs 17.4 lakh) on global exchanges. Bitcoin’s value on the Indian exchange Coinswich Kuber is $22,369 (about Rs 17.9 lakh), up 2.82% in the last 24 hours. Bitcoin is priced at $21,792 (about Rs 17.44 lakh) on global exchanges such as CoinMarket Cap, Coinbase, and Binance, while CoinGecko’s data shows that the value of BTC has currently increased by 9.1% week-on-day.

Meanwhile, even after the news of the Ethereum merge, which is going to come into effect on September 19, the world’s second most popular cryptocurrency Ether continues to move forward. After the Ethereum merge, this blockchain will move towards becoming carbon neutral. At the time of writing, the value of ether on Coinswich Kuber is $1,562 (about Rs 1.25 lakh), while on global exchanges, the value of this crypto is $1,510 (about Rs 1.20 lakh) and this cryptocurrency has gone up by about 7.8% in the last 24 hours. 

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According to CoinGecko data, the value of ether has seen a rise of 38.4 percent compared to last Tuesday.

Gadgets 360’s cryptocurrency price tracker is also currently showing a rise in the prices of almost all well-known altcoins. Talking about the global crypto market cap, it has seen a growth of 3.52 percent. 

Cryptocurrencies like BNB, Solana, Polygon, Stellar, Avalanch, Cardano, and Chainlink are visible in the green charts, while Tron and Arnold have suffered minor losses. 

Sheeba Inu and Dozcoin, popular as meme coins, have also seen prices soar on Tuesday. After a gain of about 1.74% in the last 24 hours, Dozcoin is valued at $0.06 (about Rs 5.4), while Sheeba Inu is valued at $0.000012 (approximately Rs 0.000935). This is 3.77% higher than the previous day. The cryptocurrency market seems to be easing down for the past few days, but Finance Minister Nirmala Sitharaman has shown a tougher stance on cryptocurrencies. In response to a question, he said the RBI wants a ban on digital currency, but to implement it, cooperation between the countries of the world is necessary.

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Cryptocurrency Price Today Latest Updates: Bitcoin fell 2%

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The bitcoin price touched near 15 lakh rupees, with a pre-eminence of 39.37 percent, a growth of 0.12 percent on September 22, 2022.

On September 22, top cryptocurrencies were trading in the red earlier as the international crypto market cap dropped by 2.71 percent, $898.55 billion from the earlier day. 

The entire crypto market magnitude over the last 24 hours is $88.94 billion. It is a 29.35 percent boost. Read Also: Is Bitcoin Motion A Scam Or Legit?

The entire volume in DeFi is now $5.51 billion, which is 6.19 percent of the entire cryptocurrency market’s 24-hour magnitude. The volume of all stablecoins is currently $80.74 billion. It is 90.78 percent of the whole crypto market’s 24-hour volume.

The price of bitcoin sailed almost Rs 15 lakh, with superiority of 39.37 percent, an addition of 0.12 percent the whole day, as per CoinMarketCap.

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In further news, cyberpunks have robbed digital assets that cost about $160 million from cryptocurrency trading company Wintermute. Its CEO published a tweet on Tuesday, the latest theft to beat a sector extended overrun by cybercrime. Read Also: Big Crypto Theft Ethical Hackers Rescue Funds

The heist targeted London-based Wintermute’s decentralized finance functions, Evgeny Gaevoy told in a tweet. The company, which supplies liquidity across main crypto trades and trading outlets, stays solvent after the hack, he counted.

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According to 7:10 am on September 22, the prices of the biggest cryptocurrencies are as follows (data from WazirX):

NamePrice24H%
Bitcoin$19548.97-2.84%
Ethereum$1360.23-2.26%
Tether$1.05-0.21%
Cardano$0.470.31%
Binance Coin$274.370.25%
XRP$0.432.04%
Polkadot$6.70-3.59%
Dogecoin$0.060-2.66%

To get daily cryptocurrency related news updates, bookmark cryptomaafia.com or daily visit.

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Ethereum Ecosystem Upgrade Launching Soon

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The blockchain of Ethereum Ecosystem can be laucned soon. More than $ 100 billion of decentralized finance (DeFi) apps are supported on this blockchain and due to this, vigilance is being taken about upgrades.

This upgrade is being called ‘Merge’. Ethereum’s developers said that it can be launched on September 15. The upgrade awaits a certain level of total terminal failure (TTD). TTD is a total of the difficulties required for the final block to be ready on this blockchain. 

Earlier this week, Goerli reached the final round of Merge Testing on the Test Network. More than $ 100 billion of decentralized finance (DeFi) apps are supported on this blockchain and due to this, vigilance is being taken about upgrades. There have been interruptions in this project before. The upgrade completed a trial on the public test network Sepolia last month. Sepia Testnet will be monitored for the next few days. Ethereum’s developers said in a blog post that Sepolia is the second of three public testnets for merge. The hold in the climb is also impacting the price of Ether. The price of this second largest cryptocurrency in terms of value has decreased significantly in the last few months.

RELATED: Coinbase Is Under Investigation

The upgrade could also provide relief to investors of crypto derivatives tokens called stETH. Ethereum miners have to use large server farms to order transactions on the blockchain, which leads to higher electricity consumption and increases carbon emissions. It was estimated that Ethereum’s use of electricity in one transaction is equivalent to 1,40,893 Visa credit card transactions. After this upgrade, orders for Ethereum transactions will be placed from stakes.

Due to crypto activities, there was a lack of electricity in some countries. To bargain with this concern, China denied crypto mining previous year. In some other countries, there is huge opposition to crypto mining for the same reason. Iran imposed a temporary ban on crypto mining a few months ago due to an interruption in the supply of electricity.

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Ethereum’s Eco-Friendly Launch

Advancement to the Ethereum blockchain could be undertaken shortly. This advancement is called ‘Merge’. The designers of Ethereum told me it could project on September 15. 

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Waiting for the advancement to permit the TTD (Total Terminal Difficulty) to achieve a particular level. TTD is the total difficulty needed to finish the final block on this blockchain.

Earlier this week, Goerli achieved the last stage of Merge testing on the trail network. Over $100 billion worth of DeFi apps are reinforced on this blockchain, so the advancement is prudent. 

Despite there being some challenges in this project, it completed a trial last month. This upgrade may again bring relief to crypto investors in the crypto derivative token called stETH. Ethereum miners have to operate extensive server ranches to request trades on the blockchain, resulting in increased electricity consumption and heightened CO2 emissions.

According to one estimation, the electricity consumption of one Ethereum transaction is equal to 1.40.893 Visa credit card transactions. After this uprise, demands for Ethereum transactions will be ranked by strikers.

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SEC Is Investigating Coinbase’s Products By U.S Regulators

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Publicly swap crypto trade Coinbase Global (COIN) is under investigation by U.S. securities controllers over its token listing procedures as well as its staking agendas and yield-generating products, the party announced in its most recent quarterly report. Coinbase chose to reduce its workforce by 18% due to a major reduction in the digital assets segment.

The Us Securities and Exchange Commission (SEC) is investigating the holding and yield products of crypto exchange Coinbase. Earlier, it was also reported that the SEC had taken action on the exchange regarding the listing of some assets. The SEC believes that these are not securities and have been mislisted.

Coinbase told that he SEC has requested the company for records and details of some products. These include the process of listing assets, classification of some listed products, and yielding products.” These methods have become quite popular in the last few years. However, the scrutiny of regulators has also increased. The company notified investors it has received “investigative summonses” from the Securities and Exchange Commission.

RELATED: Why Crypto Is Down? Secret Leaked

Newly, Coinbase decided to downsize its workforce by 18% because of a significant decline in the digital assets segment. The firm, which is headquartered in the US, said that in this difficult period of the industry, it has taken this step to reduce costs. The decision is expected to lay off more than 1,000 employees of the exchange. Brian Armstrong, chief executive officer of the exchange, said in a blog post, “The difficult decision has been made to reduce the size of our team by about 18 percent. Taking responsibility for hiring for the exchange, he said a lot of people were recruited in the last few months and this is now affecting the firm’s efficiency.

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Coinbase CEO Brian Armstrong (CoinDesk archives)

The exchange’s focus is on Web3 integration. A new feature was introduced a few months ago to access Ethereum-based dApps on Coinbase’s app. This will allow users to access non-fungible token (NFT) marketplaces and decentralized exchanges (DCS) through this app.

Decentralized apps (dApp) run on a blockchain network. To use these apps, users have to pay the app developer in cryptocurrency instead of downloading them. No one authority has control over these apps. The rage of these applications is growing among the Web3 community.

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The revelation highlights the heat Coinbase fronts as a vocal (and closely regulated) U.S. cryptocurrency industry. It is under stress on multiple acts, including its view that certain passes are not securities and therefore excused from the SEC’s purview. The SEC has carried a distinct stance in its proceeding case against an ex-Coinbase worker blamed of insider trading.

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