Market BuzzBitcoin trading above Rs 33 lakh
Cryptocurrencies were trading in the green early on January 12. The global cryptocurrency market cap is $2.01 trillion, a 2.39 percent increase over the previous day. The total crypto market volume over the last 24 hours was $87.43 billion, a drop of 15.56 percent. The total volume in DeFi is $13.74 billion, 15.72 percent of the total crypto market 24-hour volume. The volume of all stable coins is now $67.48 billion, which is 77.18 percent of the total crypto market 24-hour volume. Bitcoin’s is at Rs 33 lakh and its dominance over the crypto market over the last 24 hours is currently 40.19 percent. This is a decrease of 0.54 percent over the day. Read full here.
Big StoryCryptocurrencies post record outflows in first week of 2022
Cryptocurrency investment products and funds had net outflows last week, totaling a record $207 million, a report from digital asset manager CoinShares showed on January 10, as prices continued to tumble in the first trading week of the year. The sector has experienced four consecutive weeks of outflows since mid-December, reaching a total of $465 million, or 0.8 percent of total assets under management. Bitcoin, the world’s largest cryptocurrency in terms of market capitalisation, posted outflows of $107 million in the week to January 7. Ethereum-based products had outflows of $39 million last week, posting five straight weeks of outflows with a total of $200 million. CoinShares said on a proportional basis, Ethereum’s outflows were 1.4 percent of total AUM, higher than that of bitcoin. Over the last four weeks, Coinshares noted there has been greater investor activity than usual.(Reuters)
Crypto ConversationsTop 5 crypto investment themes to play out in 2022 (MC Pro)
In a world where speed, transparency, and security are almost fundamental, crypto investment becomes a necessity rather than an option. At its heart, cryptocurrency is the perfect medium of exchange for this exponentially emerging hybrid world. The cryptocurrency market has experienced enormous growth over the past decade, and it is set to expand to new heights in 2022. While investing in cryptocurrency may offer growth potential, cryptocurrencies as a whole have proven to be a volatile asset class. However, institutional investors have begun participating in the crypto market—supporting trading and building financial infrastructure. These trends point to a greater mainstreaming of the asset class and its increasing appeal to a wider range of investors Hitesh Malviya. Take a look.
NFTsVirender Sehwag joins cricket NFT universe with Rario
Former Indian opening batsman and World Cup-winning icon Virender Sehwag becomes the latest cricketing star to join the NFT bandwagon, as he signed on with leading cricket NFT platform Rario. Rario, the world’s first officially licensed cricket digital collectibles platform, allows fans to buy and trade NFTs of their favourite cricketers and international leagues. The partnership gives Rario the exclusive opportunity to leverage the legendary batsman’s finest cricketing moments in the form of NFTs. Earlier in 2021, Rario signed up a slew of top cricketers including Zaheer Khan, Rishabh Pant, Smriti Mandhana, Shafali Verma, AB de Villiers, Shakib Al Hassan and Faf du Plessis. Rario also took on exclusive NFT rights for the Caribbean Premier League, T10 and Lanka Premier League as well. (PRNewswire/PTI)