Cryptocurrency is on the face of ultimate declination will it regain its position?

Cryptocurrency is on the face of ultimate declination will it regain its position?

Cryptocurrency is on the face of ultimate declination will it regain its position? Cryptocurrencies traded in the red early on February 22. The global crypto market capitalization is $1.68 trillion, a 5.57 percent decrease over the last day. The total crypto market volume over the last 24 hours is $100.86 billion, a 43.65 percent increase.

The total value of DeFi

The total volume in DeFi is currently $12.99 billion, 12.88 percent of the total crypto market 24-hour volume. The volume of all stablecoins is now $84.87 billion, which is 84.14 percent of the total crypto market’s 24-hour volume.

Bitcoin’s price is currently Rs 29.63 lakh with a dominance of 42.01 percent.

In global news, Russia’s finance ministry on Monday said it would take proposals on cryptocurrencies from the country’s central bank into account so long as they do not contradict its own approach, paving the way for legislation governing digital assets.

A simmering dispute over cryptocurrency regulation in Russia heated up on Friday as the finance ministry submitted legislative proposals to the government that clashed with the central bank’s demand for a blanket ban.

The Bank of Russia has proposed banning cryptocurrency trading and mining due to the threat digital currencies pose to financial stability. But the finance ministry prefers legislation that regulates cryptocurrencies, allowing them as an investment tool, but not as a means of payment. The finance ministry’s draft legislation aims to create a legal market for digital currencies.

On the entertainment front, Universal Music Group has struck a partnership with NFT platform Curio to develop NFT collections for its record labels and artists, Reuters reported. The deal is a major move into a potentially new revenue stream by the world’s largest music company, which, like its rivals, depends heavily on streaming music for its financial survival. Universal Music said it plans to work with Curio to develop digital artwork and other collectibles for the company and its artists.

Meanwhile, tech entrepreneur and venture capitalist Anirudh Suri’s “The Great Tech Game” has been launched as arguably the first book with limited edition NFT collectible cards. The innovative and exciting initiative is aimed at promoting tech inclusion with the proceeds from the NFT collection. The proceeds will go to groups that are disadvantaged in their access or use of tech, which is a key pillar and recommendation of the book. Each card in the series is unique memorabilia digitally hand-signed and numbered by Suri, the creator of the NFTs.

JPMorgan has become the first of the major banks to open a lounge in the metaverse which it sees as a $1 trillion opportunity in the future. The lounge is situated in the Decentraland blockchain based world. JPMorgan has also initiated research on Quantum Key Distribution (QKD) blockchain network that is resistant to quantum computing attacks.

A 100-year fun experiment
A Reddit user has hidden $100 worth Bitcoin in a public library in Europe for 100 years as a time capsule experiment. The user has locked up 0.003 BTC along with its public and private key. In 100 years, Bitcoin block reward from mining will be at 0.00000019 BTC meaning 0.003 BTC will be about 15,000 block rewards.