As most cryptos such as Bitcoin, Ethereum and Polkadot rose marginally, the cryptocurrency market saw green sprouts. Global crypto market-cap of $2.63 trillion has risen almost 5.95 percent in the past 24 hours. The total DeFi volume, which accounted for 13.10% of the total crypto market volume in the last 24 hours, was $15.8 billion. Meanwhile, stablecoin volume was $93.39 billion.
Bitcoin, now $58,946, rose 3.64 per cent over the past day. Ethereum rose 6.4% to trade at $4.333. Solana followed with an 11.68% rise, trading at $220. Memecoins DOGE, and SHIB both saw significant increases of 6 and 12 percent respectively on a 24-hour basis.
A new report from Elliptic, a risk management firm, has revealed that DeFi users have lost nearly $10.5 billion to fraud and theft this year, and almost $12 million over the past 2 years. The majority of these transactions were made on Ethereum.
Hillary, a former Democratic presidential candidate, raised concerns about cryptocurrency’s potential destabilizing effects on nations. She said that it could undermine their fiat currencies and threaten the status of the dollar as a reserve.
The market is also closely watching for early investors in bitcoin from the now-defunct cryptocurrency trading platform Mt. Gox was hacked and closed down in 2014. The rehabilitation plan, which was proposed by Nobuyuki Kobayashi, the trustee, and approved by the Japanese court will return nearly 1,50,000 BTC, or $8.8 Billion to the affected