Market BuzzBitcoin trading above Rs 43 lakh
Cryptocurrency prices are in a mix of red and green on October 11. The global cryptocurrency market cap is Rs 171.88 lakh crores, a 0.18 percent increase over the last day, while the total crypto market volume over the last 24 hours is Rs 7,29,610 crores, which makes a 0.59 percent increase. Bitcoin’s price is currently Rs 43,37,990 and its dominance is currently 45.58 percent, an increase of 0.84 percent over the day. Read full here.
What’s New?Lakme Fashion Week: Manish Malhotra creates 5 fashion NFTs; teams up with WazirX
Manish Malhotra has become the first Indian fashion designer to create five non-fungible tokens (NFTs). WazirX NFT Marketplace has joined hands with FDCI X Lakme Fashion Week to introduce fashion NFTs by designers and artisans. All five have been sold, with each going for 1,600-3,000 WRX ($1,908.8-$3,579 ). Read more here.
Around the World’Evolved Apes’ creator pulls an NFT scam worth $2.7 million
Blockchain traces showed that funds worth 798 ether or $2.7 million had been siphoned off in multiple transfers, funds that were meant to be channelled towards marketing expenses and which had been generated from the initial sale of NFTs and secondary market commissions. Read details here.
AnalysisCryptocurrencies post inflows for 7 straight weeks, led by Bitcoin
Cryptocurrency investment products and funds recorded inflows for a seventh straight week, as institutional investors warmed to more supportive statements from regulators, data from digital asset manager CoinShares showed. Inflows to the sector were $90.2 million last week, led by bitcoin which snagged $69 million. Over the past seven weeks, crypto inflows reached $390 million. For 2021, inflows totaled $6.1 billion. Read more here.