Major cryptocurrencies traded in the red early on June 4 as the global crypto market cap decreased 3.50 percent to $1.22 trillion over the last day. Total crypto market volume over the last 24 hours declined 12 percent to $61.66 billion.
Total volume in DeFi stood at $5.35 billion, 8.68 percent of the total crypto market 24 hour volume. The volume of all stable coins was $52.18 billion, which is 84.63 percent of the total crypto market 24 hour volume.
Bitcoin is currently trading above Rs 24 lakh. The market dominance of the world’s largest cryptocurrency increased 0.09 percent to 46.31 percent over the last day, according to data from CoinMarketCap.
In a bid to address environmental concerns over proof-of-work (PoW) mining, the New York State Senate has passed a Bill that imposes a two-year moratorium on new crypto mining firms that use non-renewable power.
The Bill, which was passed by the state Assembly last month, also sought pausing of renewables for existing operating permits.
Earlier this year, the European Parliament had proposed a similar PoW mining ban. However, amid public scrutiny, it amended the proposal to remove the ban.