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Last Updated : October 14, 2022 / 08:40 AM IST
Top Cryptocurrency News on October 14: A record year for crypto hacking, NFT projects under investigation, 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 you jump-start the day
Market Buzz
Bitcoin up 4%
Major cryptocurrencies were trading in the green early on October 14 as the global crypto market-cap increased 2.79 percent to $944.24 billion over the last day. The total crypto market volume increased 93.62 percent to $2.79 billion over the last 24 hours. The total volume in DeFi stood at $5.17 billion, which is 6.04 percent of the total crypto market 24-hour volume. The volume of all stable coins was $78.95 billion, which is 92.21 percent of the total crypto market 24-hour volume. The price of bitcoin hovered around Rs 16 lakh, with a dominance of 40.39 percent, which is a increase of 0.49 percent over the day, according to Coinmarketcap. Read full here
Big Story
Crypto hackers set for record year after looting over $3 billion
Cryptocurrencies may have crashed this year but they remain a digital cash-machine for one potent constituency: hackers. At least $718 million has been stolen so far in October alone, taking the gross tally for the year past $3 billion and putting 2022 on course to be a record for the total value hacked, according to blockchain specialist Chainalysis Inc. Most of the targets are so-called decentralized finance — or DeFi — protocols, which deploy software-based algorithms to enable crypto investors to trade, borrow and lend on digital ledgers without using a central intermediary. Read details here
NFT Buzz
Bored Ape and other NFT projects under federal investigation
A report from Bloomberg on October 11 aims towards the NFT market getting into trouble. It cites a familiar source, suggesting that the Bored Ape project and other NFTs might be looked over in assumptions of violating federal policies. Yuga labs, the creator of multiple NFT projects, says it looks at the brighter side of the whole scenario. The underlying investing is to check the possibility of illegal fundraising. Multiple sources suggest that the ongoing investing is not limited to just Yuga labs. The Securities and Exchange Commission (SEC) has launched a probe against the NFT market. Yuga labs projects seem to be a part of the investigation to check whether the NFTs are more akin to stocks. The SEC is also looking at illegal trading of digital assets. In March 2022, anonymous sources pointed out a possible investigation from the SEC against NFT creators and marketplaces. It stated that the investigation might be to check whether NFTs are being used to raise funds in the name of traditional securities. Take a look
The Week on Dalal Street | Weekly wrap of market trends, stock moves & what to look out for!
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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.
