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Last Updated : August 13, 2022 / 10:16 AM IST
Top cryptocurrency news on August 13: Bitcoin, ethereum inch higher; OpenSea changes NFT policy 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 at Rs 18.36 lakh
Cryptocurrencies were trading in the green early on August 13. The global crypto market cap stood at $1.17 trillion, with a 2.50 percent increase over the previous day. The total crypto market volume over the last 24 hours climbed to $65.79 billion, a 21.45 percent decline. The total volume in DeFi reached $6.99 billion, 10.63 percent of the total crypto market 24-hour volume. The volume of all stable coins stood at $60.45 billion, which is 91.88 percent of the crypto market’s 24-hour volume. The price of bitcoin was Rs 18.36 lakh, with a dominance of 40.03 per cent. This was a 0.01 percent increase over the day, according to data from CoinMarketCap. Read full here
Big Story
Tornado cash ethereum token down over 50% after sanctions
In the week following the sanctioning of the Tornado Cash website by the US treasury department’s office of Foreign Assets Control (OFAC), the price of the token underpinning the system is down 56 percent, starting the week at a high of $31.56 and ending the week at a low of $13.09, according to CoinMarketCap. Launched in 2019, Tornado Cash is a blockchain protocol for sending and receiving anonymous transactions by mixing ethereum tokens with a pool of other tokens, anonymising the user. Read details here
NFT Buzz
OpenSea changes stolen NFT policy following user outcry
With NFT scams on the rise, Web3 platforms are increasingly forced to grapple with identifying and managing stolen assets. As the largest NFT marketplace, OpenSea has borne the brunt of this Web3 responsibility but its policy of blocking flagged assets has received considerable backlash, especially for punishing users who didn’t know that they were buying stolen NFTs. In response, OpenSea announced on Twitter on August 10 that it will change the way it handles NFT assets that are reported as stolen. OpenSea would previously block stolen assets from being bought, sold, or transferred on its platform as it investigated each case, which meant an indefinite hold on accessing such NFTs and their respective worth. Take a look
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