Cryptocurrencies traded in the green early on October 21. The global crypto market cap increased 3.64 percent over the last day to $2.62 trillion. The market volume over the last 24 hours jumped 24.45 percent to $113.80 billion.
The total volume in DeFi stood at $14.36 billion, 12.62 percent of the total crypto market 24-hour volume. The volume of all stable coins reached $87.11 billion, which was 76.54 percent of the total crypto market 24-hour volume.
Bitcoin traded at Rs 50,40,223 around 8.25am with a dominance of 46.49 percent. This was a 1.16 percent decrease over the day.
The cryptocurrency hovered just below its record highs on Wednesday and the first US bitcoin futures-based exchange-traded fund (ETF). The world’s leading cryptocurrency was at $64,257 at 1236 GMT, modestly higher on the day and within a short jump of the all-time high of $64,895.22 it hit on April 14. It scaled $64,499 on Tuesday, late in the US session.
Tuesday was the first day of trading for the ProShares Bitcoin Strategy ETF – a development that market participants say is likely to drive investment into the digital asset. The ETF closed up 2.59 percent at $41.94 on Tuesday, with around $1 billion worth of shares being traded on Intercontinental Exchange Inc’s ICE.N Arca exchange.
Analysts said the ETF would likely simplify access to cryptocurrencies for retail investors. “It can attract flows from investors who prefer the ease of an ETF over the perceived risk of an exchange,” said Martha Reyes, head of research at crypto exchange Bequant.
A Senate report has said that Australia needs to introduce new regulations for digital asset miners, such as tax discounts and a licensing regime for crypto exchanges, to be “competitive with Singapore, the UK and the US”, Reuters reported.
The report, published by the Senate’s Committee on Australia as a Technology and Financial Centre on Wednesday, also calls for clarity on rules about when banks can refuse to deal with a business customer involved in cryptocurrency.
As off 8.25 am on October 21, these are the prices of largest cryptocurrencies (data from WazirX):
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