Market BuzzCryptocurrency market is mixed on July 15
Cryptocurrency prices continue to be in the mix of red and green on July 15. The global cryptocurrency market cap is $1.35 trillion, a 2.21 percent increase over the last day, while the total crypto market volume over the last 24 hours was $64.89 billion, which was a 7.37 percent increase. The volume of all stable coins is now $51.84 billion – 79.89 percent of the total crypto market 24-hour volume. Bitcoin’s price is currently at $32,365.08 and its dominance is 45.65 percent, an decrease of 0.44 percent over the day. Read full here
Big StoryWhy the government has not listed Cryptocurrency Bill for Monsoon Session of Parliament
Against widespread expectations, the government has not listed the much-awaited Cryptocurrency Bill in the upcoming Monsoon Session of Parliament, which commences on July 19. Officials declined to comment as to whether the bill will be tabled later in the Winter Session in 2021 or even beyond that. Moneycontrol has learnt from multiple sources that there are two reasons for the bill not being tabled now. To know why, read here
[content]In FocusDelhi High Court replies from Centre, SEBI on plea for guidelines on crypto-asset ads, proper disclaimers[body]
The Delhi High Court, on July 14, asked the Centre and SEBI to respond to a plea seeking to direct the markets regulator to issue guidelines and take steps against crypto-asset exchanges advertising on television without standardised disclaimers. A bench of Chief Justice D N Patel and Justice Jyoti Singh issued notice to the Ministry of Information and Broadcasting, SEBI and three crypto-exchanges operating in India and giving advertisements to draw retail investors to trade in cryptocurrencies. The court granted time to the authorities to file replies and listed the matter for further hearing on August 31. (PTI)
AnalysisNow, you can lend and borrow cryptocurrencies. But, are the risks worth it?
As with all investments, you buy cryptocurrencies hoping for their prices to rise and to sell the coins for a profit. But, some cryptocurrency exchanges in India also allow you to lend them. Vauld and ZebPay are two such cryptocurrency exchanges. Cryptocurrency exchanges like Vauld and ZebPay allow lending and borrowing of crypto coins. You can generate annual returns of up to 6.7 percent on Bitcoin and Ethereum by lending these for a specified period. Read details here.
Now ThisBlack Swan author Nassim Taleb reverses stance on bitcoin, calls it one of the most ‘fragile’ assets
In a change of heart, The Black Swan author Nassim Nicholas Taleb now sees no value in holding a bitcoin. The former options trader said the world’s largest cryptocurrency by market cap is worth “exactly zero” and does not satisfy notions of it as a currency without government support, as a hedge against inflation and as a safe haven investment. “Few assets in financial history have been more fragile than bitcoin,” he said in his paper, ‘Bitcoin, Currencies, and Fragility,’ published in late June. Another reason for his stance reversal is that bitcoin requires a sustained amount of interest to maintain it. In contrast, “gold and other precious metals are largely maintenance-free, do not degrade over a historical horizon, and do not require maintenance to refresh their physical properties over time,” he said. Read more here