Last Updated : July 02, 2021 / 08:13 AM IST
Top cryptocurrency news on July 2: Major stories on Bitcoin, Dogecoin and policies
A daily round-up of the most interesting articles on cryptocurrencies like BItcoin, Ethereum and Tether to help jump-start the day.
Crypto market is in the red
The global cryptocurrency market cap is $1.38 trillion, a 4.64 percenr decrease over the last day. The total crypto market volume over the last 24 hours is $83.09 billion, which makes a 5.95 percent decrease. The volume of all stable coins is now $61.65 billion, which is 74.20 percent of the total crypto market 24-hour volume. Bitcoin’s dominance is currently 45.49 percent, an increase of 0.18 percent over the day. Read more here.
Elon Musk’s two tweets on Dogecoin drive value of cryptocurrency up by 7%
Two tweets by Tesla and SpaceX founder Elon Musk drove the value of Dogecoin up by 7 percent on July 1. Dogecoin, after trading below $0.24 in the early hours of trading, surged to $0.2573 after Musk’s tweets, as per the data shared by CoinMarketCap. The 24-hour trading volume was stated as $2,762,760,820, by the time this report was published. The surge in Dogecoin’s value following Musk’s tweets suggested that the billionaire was still capable of influencing the cryptocurrency rate. One of his tweets was a meme linked to Hollywood movie The Godfather, with a caption that read: “The Godfather, with the caption: “Release the Doge!” While the second tweet appeared to be a song on Dogecoin. Read full here.
Twitter gives away 140 NFTs through Rarible
Twitter has said it is giving away 140 non-fungible tokens (NFTs), with the company making the announcement in a series of tweets. The company tweeted, “140 free NFTs for 140 of you, besties,” a reference to the social media platform’s original 140 character limit for tweets. The company even changed its bio to read “dropping NFTs all day”. The NFTs will be given away on Rarible, an NFT marketplace. Twitter users can reply to the tweet for the chance to get one of 7 NFTs, each of which is available in editions of 20. Read more here
Around the World
Tim Berners-Lee’s source code NFT for World Wide Web sells for $5.4 million
Tim Berners-Lee sold the source code for the World Wide Web for $5.4 million in the form of a non-fungible token (NFT). An NFT is a digital object such as a drawing, animation, piece of music, photo or video with a certificate of authenticity created by blockchain technology that underlies cryptocurrency. Sotheby’s in New York organized the weeklong sale of the program that paved the way for the internet over 30 years after its creation. The lot on sale included the original, time-stamped code files written by Berners-Lee; an animated visualization of the code; a digital poster of the full code created by him; and a letter written by the British-born computer scientist himself. See more here
Indian cryptocurrency exchanges flounder as banks cut ties after RBI frown
Indian cryptocurrency exchanges are scrambling to secure viable, permanent payment solutions to ensure seamless transactions after banks and payment gateways started cutting ties with them, six industry insiders told Reuters. The exchanges are struggling to cope after the central bank, the Reserve Bank of India (RBI), which has said it does not favour digital currencies, out of concern over their impact on financial stability, informally asked banks to steer clear. Customer complaints have inundated all India’s key exchanges as the pullout by major payment gateways has hit transactions, according to social media and users. There is no official data, but India has nearly 15 million crypto investors, who hold more than 100 billion rupees ($1.34 billion), according to industry estimates. (Reuters)