Top cryptocurrency news on June 24: Major stories on Bitcoin, Coinbase and Blockchain Capital


a tray of food on a table: Top cryptocurrency news on June 24: Major stories on Bitcoin, Coinbase and Blockchain Capital

© Smriti Chaudhary Top cryptocurrency news on June 24: Major stories on Bitcoin, Coinbase and Blockchain Capital

Market BuzzTop cryptocurrency prices today

Cryptocurrency prices of most of the coins continue to be in the red on June 24. The global cryptocurrency market cap is $1.32 trillion, a 1.9 percent decrease over the last day, while the total crypto market volume over the last 24 hours is $93.69 billion, which makes a 37.09 percent decrease. The volume of all stable coins is now $74.89 billion – 79.93 percent of the total crypto market 24-hour volume. Bitcoin’s price is currently $35,325.09 and its dominance is currently 46.62 percent, a decrease of 0.71 percent over the day. This comes after the stock price of cryptocurrency exchange operator Coinbase has been on a slide this week. Read more here

Big StoryCoinbase shares hovering around $222 mark, near all-time low

The stock price of cryptocurrency exchange operator Coinbase has been on a slide this week, as it opened at a near all-time low of $220 on June 21 and is as of 10.00 am on June 23 at $222.47. Trading at $222.47 on NASDAQ, Coinbase was down $0.13 as of 10 am IST on June 23. The shares have been range bound around $220 levels since June 21, when it slumped by 49 percent from its all-time high of $430 at listing in April. Coinbase was listed on NASDAQ on April 14, becoming the first major crypto company to go public. It has since seen a range low of $208/share and high of $430/share. Read details here

Now ThisPayPal, Visa lead $300 million investment in Blockchain Capital

PayPal and Visa, on June 22, led a $300 million fundraising in Blockchain Capital, a cryptocurrency venture capital (VC) company. Further, the two payments giants and a few other investors will participate in the company’s strategic partnership programme. The company’s fifth funding round, dubbed ‘Fund V’, was oversubscribed at its $300 million hard limit, Blockworks reported. The funds will be used to partner industry professionals to help grow business and protocols and make focused investments in blockchain infra, DeFi, non-fungible tokens (NFTs) and emerging blockchain technology. See full story here

AnalysisCentral bank digital currencies can offer finality, liquidity, integrity, says BIS

Central bank digital currencies can offer “finality, liquidity and integrity”, and could provide strong data governance as well as privacy standards based on digital identities, the Bank for International Settlements (BIS) said on Wednesday. It released a chapter titled ‘CBDCs: an opportunity for the monetary system’ that is part of its Annual Economic Report 2021.Noting that central banks stand at the centre of a rapid transformation of the financial sector and the payment system, BIS said Central Bank Digital Currencies (CBDCs) represent a unique opportunity to design a technologically advanced representation of central bank money, one that offers the unique features of finality, liquidity and integrity.

“Innovations such as crypto currencies, stable coins and the walled garden ecosystems of big techs all tend to work against the public good element that underpins the payment system. The DNA (Data-Network-Activities) loop, which should encourage a virtuous circle of greater access, lower costs and better services, is also capable of fomenting a vicious circle of entrenched market power and data concentration. The eventual outcome will depend not only on technology but on the underlying market structure and data governance framework,” BIS said. (PTI)

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