Most cryptocurrencies traded in the green early on July 7 as the global crypto market cap increased by 1.83 per cent to $922.86 billion over the last day. However, the total crypto market volume over the last 24 hours declined by 9.23 percent to $58.19 billion.
The total volume in DeFi stood at $5.13 billion, 8.82 per cent of the total crypto market 24-hour volume. The volume of all stable coins was at $52.11 billion, which is 89.55 per cent of the total crypto market 24-hour volume.
World’s largest cryptocurrency Bitcoin hovered around 16 lakh. It’s dominance in the crypto market declined marginally by 0.14 percent to 42.41 percent over the last day, according to CoinMarketCap data.
In other news, in November, in the midst of an exuberant cryptocurrency market, analysts at BNP Paribas, a French bank with a Wall Street presence, pulled together a list of 50 stocks they thought were overpriced — including many with strong links to digital assets.
They nicknamed this collection the “cappuccino basket,” a nod to the frothiness of the stocks. The bank then spun those stocks into a product that essentially gave its biggest clients — pension funds, hedge funds, the managers of multibillion-dollar family fortunes and other sophisticated investors — an opportunity to bet that the assets would eventually crash.
In the past month, as the froth around bitcoin and other digital currencies dissipated, taking down some cryptocurrency companies that had sprung up to aid in their trading, the value of the cappuccino basket shrank by half.
As of 7.30 am on July 07, these are the prices of largest cryptocurrencies (data from WazirX):
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NAME
PRICE (INR)
24H %
Bitcoin
16,30,003
1.12%
Ethereum
92,724.8
2.99%
Tether
80.86
-0.77%
Cardano
37.5990
0.53%
Binance Coin
18,929.23
1.26%
XRP
26.8000
3.79%
Polkadot
574.49
3.79%
Dogecoin
5.5700
1.88%
