Last Updated : July 04, 2021 / 08:17 AM IST
Top cryptocurrency news on July 4: Major stories on Bitcoin, digital currencies and Coinbase
A daily round-up of the most interesting articles on cryptocurrencies like Bitcoin, Ethereum and Tether to help jump-start the day.
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Market Buzz
Cryptocurrency market is in the green on July 4
The cryptocurrency market is in the green on July 4 (today). Its global market cap is $1.42 trillion, a 2.06 percent increase over the last day. The total crypto market volume over the last 24 hours is $60.59 billion, which makes a 6.59 prevent decrease. The volume of all stable coins is now $47.02 billion, which is 77.61 percent of the total cryptocurrency market 24-hour volume. Bitcoin’s price is currently $34,505.41 and its dominance is 45.50 percent, an increase of 0.18 percent over the day. Read full here
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Big Story
Coinbase building an office in India, says CEO Brian Armstrong, makes open calls for jobs
Coinbase CEO and co-Founder Brian Armstrong has said the company is expanding its team in India. In a tweet late on July 2, Armstrong said: “Coinbase is building out an office in India! Amazing team already in place – come join us.” While the tweet itself did not give more details, Armstrong linked a blog post titled ‘Building Crypto out of India’ by Pankaj Gupta, VP Engineering and Site Lead India, which outlined Coinbase’s plans for India. Gupta said the post shares the company’s “plans and ambitions in India and how we are thinking about this hub in general”. Read details here.
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In Focus
Cryptocurrencies will democratise finance the way Internet did for information
Cryptocurrency has the power to create a ‘borderless’ world of finance that is not controlled by any individual or entity, but by a community. Every country has its own banking rules and regulations and financial institutions are bound by geography. But cryptocurrency would help break this barrier in the future. While the Internet allows for the transfer of information, blockchain enables the transfer of value without the need for any intermediaries. It has the power to revolutionise the financial industry by providing solutions for faster, transparent, and secure cross-border transaction of data via blockchain technology. See more here.
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Analysis
Central Bank Digital Currencies have a role to play in commercial banking, and how! (MC PRO)
Governments and central banks may work symbiotically with commercial banks to challenge large tech, e-commerce and fintech companies as well as cryptocurrencies from dominating the payments settlement space. Read details here.
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Now This
Staking: The New Giant in Crypto Investments
Coinsbit India had announced India’s biggest ever airdrop on April 9, 2021 and since then 665,550 KYC verified users receiving CIN worth $200 each in the first round. Now, the company has also launched its own 5-level referral program with staking opportunities. Staking cryptocurrency a less resource-intensive alternative to mining which involves holding funds in a wallet to support the security and operations of a blockchain network. It is the act of locking cryptocurrencies to receive rewards. Coinsbit India Staking lets you earn rewards by holding and ‘staking’ coins on the exchange to enjoy 3 percent monthly rewards. (Business Wire India/PTI)
