Top cryptocurrency news on July 11: Major stories on Bitcoin, Square and India’s Cryptocurrency Bill – Moneycontrol.com

Last Updated : July 11, 2021 / 08:22 AM IST

Top cryptocurrency news on July 11: Major stories on Bitcoin, Square and India’s Cryptocurrency Bill

A daily round-up of the most interesting articles on cryptocurrencies like Bitcoin, Ethereum and Tether to help jump-start the day.

  • Market Buzz

    Cryptocurrency market is in the red on July 11

    Cryptocurrency market is in the red on July 11

    The cryptocurrency market is in the red on July 11 (today). The global cryptocurrency market cap is $1.40 trillion, a 0.98 percent decrease over the last day. The total crypto market volume over the last 24 hours is $58.12 billion, which makes a 21.23 percent decrease. The volume of all stable coins is now $43.97 billion, which is 75.66 percent of the total crypto market 24-hour volume. Bitcoin’s price is currently $33,639.50 and it is 45.24 percent, an increase of 0.15 percent over the day. Dogecoin fell the most, down 4.14 percent, followed by Uniswap which is down 3.22 percent. On the other hand, Tether and USD Club both rose 0.10 percent. Read full here

  • Big Story

    Jack Dorsey’s digital payment service company Square is building a bitcoin wallet

    Twitter CEO and Square Co-founder Jack Dorsey has confirmed that the company is building a hardware Bitcoin wallet. A tweet by hardware lead Jesse Dorogusker confirmed Square’s intentions and said that the company will be open about the product and continue to ask and answer questions as they build. There are no timelines or details yet for what the product will be or when it is expected to hit the market. Square already allows users to buy and sell Bitcoin using the cash app. A hardware Bitcoin wallet allows users to securely store and access their Bitcoin information using private keys. Read more here

  • In Focus

    Meme coins are now worth $33 billion

    The market capitalisation of meme crypto coins and token has reached around $33 billion on July 10, data on CoinMarketCap showed. As of 10.30 am on July 10, the market capitalisation of all meme cryptocurrencies stood at $33,238,833,302, while the trading volume was at $3,282,553,655. Among the top 10 meme cryptocurrencies, Dogecoin moved the most at 5.24 percent, followed by ERC at 4.56 percent. Cumrocket was the heaviest loser shedding 18 percent in a day. Dogecoin also scores big in terms of market cap – alone soldering $28 billion of the share, while closest competitors – Shiba Inu and SafeMoon have a market cap of $3 billion and $1 billion, respectively. However, according to dead-coin tracker Coinopsy, between 90-95 percent of all meme coins end up “dead”. Read full here

  • In India

    In India Indian Cryptocurrency Bill to see the light of the day

    Finance Minister Nirmala Seetharaman announced that the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 will be presented in parliament in the upcoming monsoon session, which is set to start on 19th July. Having called for an extremely calibrated approach on crypto and digital currency in her earlier statements, Seetharaman mentioned that considerable stakeholder input had been taken while preparing the document and the cabinet note. Per the government, the bill aims to “create a facilitative framework for the creation of the official digital currency to be issued by the Reserve Bank of India. The bill also seeks to prohibit all private cryptocurrencies in India, however, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses.” See full here

  • Corporate Watch

    GrayScale Bitcoin Trust gears up for mega unloading

    With the world’s largest bitcoin fund nearing a lockup deadline, the GrayScale Bitcoin Trust (GTBC) is expected to unload nearly 40,000 bitcoins worth of its shares in the market during the course of this month. Cryptocurrency enthusiasts are looking forward to 17th July, when almost 16,000 bitcoins worth of shares will be unlocked. Experts predict a steep downward fall in bitcoin prices, given that nearly 5 percent of the fund can potentially be sold within the next 2-3 weeks. Read more here

  • Overview

    Crypto Wrap: All that transpired in the cryptocurrency space this week

    From all major cryptocurrencies swamped in red to popular sports championships inking deals with crypto platforms, we bring you a thorough weekly rundown of all the action that happened in the crypto world this week. Read details here