The global cryptocurrency market cap stands at $1.54 trillion. This is a 7.46% decrease in the past day. However, the total crypto market volume for the last 24 hours has been $102.17 billion. That’s a 28.13 per cent increase.
On June 8, cryptocurrencies were in the red. Bitcoin’s current price is $33,704.96. Its dominance is 40.98%, which is a decrease by 0.01 percent from the previous day.
This comes after a slew of crypto-related accounts in China’s Twitter-like Weibo platform were blocked over the weekend, as Beijing stepped up a crackdown on Bitcoin trading and mining. Analysts and a financial regulator expect more actions, including linking illegal cryptocurrency activities in China with China’s criminal law.
The global cryptocurrency market cap stands at $1.54 trillion. This is a 7.46% decrease in the past day. However, the total crypto market volume for the last 24 hours has reached $102.17 billion. That’s a 28.13 percentage increase.
All stable coins now account for $81.97 billion or 80.23 percent in the crypto market’s 24-hour volume.
Meanwhile, in India, Infosys co-founder Nandan Nilekani wants India to accept cryptocurrencies as an asset class, a strong sign of its growing acceptance in India even as it faces regulatory uncertainty. You can also have some assets in crypto, just as you do with real estate or gold. He said that crypto can be used as a store value, but not in a transactional way.
Nilekani is currently the chairman of Infosys, a software company. He also created India’s Aadhaar identification system. However, he does not support cryptocurrency as a payment method or substitute for government currency due to its volatility and energy-zapping nature. However, he said that if the government legalizes cryptocurrency, it would allow “the Crypto Guys to put their wealth in India’s Economy”.
These are the top 10 cryptocurrencies as of June 8th, 2017, at 7.10 AM.