Last Updated : July 03, 2021 / 08:24 AM IST
Top cryptocurrency news on July 3: Major stories on Bitcoin, Robinhood and financial services
A daily round-up of the most interesting articles on cryptocurrencies like Bitcoin, Ethereum and Tether to help jump-start the day.
Cryptocurrency market is in the green on July 3
The cryptocurrency market is in the green today, July 3. The global market cap is $1.39 trillion, a 0.39 percent increase over the last day. The total crypto market volume over the last 24 hours is $64.86 billion, a 22.36 percent decrease over the previous day. The volume of all stable coins is now $51.16 billion, which is 78.88 percent of the total crypto market 24-hour volume. Bitcoin’s price is currently around $33,636 and its dominance is 45.32 percent, a decrease of 0.07 percent over the day. Read full here
Robinhood IPO: A look at the company’s crypto growth
Papers showed Robinhood Inc had around $12 billion in cryptocurrency assets till March 31, 2021. This is 23 times higher than its crypto assets in 2020. Notably, more than 9.5 million customers traded close to $88 billion of cryptocurrency on Robinhood’s platform during the same period. The company showed strong crypto offering performance, particularly with dogecoin. It said that for the three months ended March 31, 2021, 17 percent of total revenue was derived from crypto transactions. This is a huge jump compared to the 4 percent recorded for the three months year ended December 31, 2020. Read full here.
Robinhood resolves issue with crypto trading on its platform
Robinhood Markets Inc, the app-based brokerage firm, said on Friday it had resolved an outage affecting crypto trading on its platform after briefly experiencing a service interruption. “We take any interruption in service seriously and we’re sorry to anyone impacted by tonight’s brief disruption. We’ve resolved the issue and are here to help if you need us,” the company said in a tweet. Robinhood experienced crypto trading and display issues on its platform for about an hour late Friday. At one point, more than 1,000 users were complaining about issues with Robinhood in the North America region, according to outage monitoring website Downdetector. (Reuters)
Financial services present large opportunity, says Sachin Bansal
Flipkart co-founder Sachin Bansal on Friday said financial services present a large opportunity and by bringing a consumer tech thought process, new-age companies are well-positioned to tap into underpenetrated segments like insurance, mutual funds and capital market. A few months after his exit from e-commerce major Flipkart, Bansal had turned his attention to the financial services space with Navi. Asked if the company was looking at new areas like cryptocurrency, he said, “we are watching that space”. (PTI)
ED sends notices for cryptocurrency trading, transactions by NRIs
The Enforcement Directorate (ED) has sent out several notices in the past month pertaining to betting on Euro 2020 matches, cross border cryptocurrency trades and transactions of Non-Resident Indians (NRIs) who overstayed in the country due to COVID-19 in the last year. Citing an ED official, the report said that nearly 1000 notices have been sent by the ED in the last two months and most of the individuals under scrutiny are from Mumbai, Delhi, Pune and Bengaluru. More details here.