Cryptocurrencies traded in the red early on April 7. The global crypto market-cap is $ 1.98 trillion, a 5.04 percent decrease over the last day. The total crypto market volume over the last 24 hours is $ 120.40 billion, which makes a 9.15 percent increase.
The total volume in DeFi is currently $ 15.22 billion, 12.64 percent of the total crypto market 24-hour volume. The volume of all stable coins is now $ 101.18 billion, which is 84.04 percent of the total crypto market 24-hour volume.
Bitcoin’s price is currently Rs 34.43 lakh with a dominance of 41.42 percent. This is a 0.24 percent increase over the day, as per CoinMarketCap data.
All cryptos on our list were in the red. The biggest loser was Dogecoin which dropped -10.45 percent, followed by Cardano, (-7.92 percent), Polkadot (-6.36 percent), XRP (-4.8 percent), Ethereum (-4.75 percent), Binance Coin (-4.63 percent), Bitcoin (-4.37 percent) and Tether (-0.26 percent).
In other news, crypto exchange Binance is leading investors’ contribution to a bailout of victims of a $ 615 million digital coin theft, the company targeted in the heist said. The Vietnam-based company Sky Mavis, which runs the game Axie Infinity, said last week it had been hit by one of the largest crypto heists on record.
Sky Mavis said it would reimburse the lost money to users through a combination of its own balance sheet funds and $ 150 million raised by investors including cryptocurrency exchange Binance and venture capital firm a16z. “Sky Mavis is committed to reimbursing all of our users’ lost funds and implementing rigorous internal security measures to prevent future attacks,” said Trung Nguyen, CEO of Sky Mavis.
Binance CEO Changpeng Zhao said “we strongly believe Sky Mavis will bring a lot of value and growth for the larger industry and we believe it’s necessary to support them as they work hard to resolve the recent incident.”
Binance and Sky Mavis did not put a figure on how much of the $ 150 million Binance would provide.
Also, Facebook’s parent company Meta is exploring the potential of digital money referred to internally as “Zuck Bucks” in a play on the founder’s name, the Financial Times reported.
Meta abandoned its effort to create a global cryptocurrency — first called Libra but eventually re-branded as Diem — in the face of fierce backlash by financial regulators around the world. However, founder and chief Mark Zuckerberg has spoken about the importance of e-commerce and financial tools to his vision for an immersive online world called the metaverse.
Products being considered at Meta include digital tokens similar to those use for transactions in video games, with the internet company’s version nicknamed “Zuck Bucks” by those working on it, according to the Financial Times.
Popular games such as “Fortnite” and “Roblox” use tokens for transactions. There would be potential for tokens be used to reward creators and influencers whose posts draw online audiences.
Meta is looking to diversify its revenue beyond a reliance on targeted advertising that has provoked concerns about invading the privacy of users.
Meanwhile, India will soon have its first music NFTs on April 14 with a concert in the metaverse, an immersive 3D version of the internet tipped to transform workplaces and online interactions. Launched by Singer Karthik and with NFT marketplace Jupiter Meta launching the digital works, the metaverse concert that will last for 30 to 40 minutes.
People who buy tickets can not only attend the concert as avatars, but also own two music NFTs. The two new songs will be introduced by Karthik at the concert. Each ticket is priced at Rs. 29,000 and can be bought online using internet banking, debit, credit card or UPI options, and not necessarily through cryptocurrency, Jupiter Meta said.
At the metaverse concert, Karthik will play a few of his all-time hits from Tamil films apart from his own compositions, which will be introduced in concert for the first time ever, the organisers said. Viewers can make certain gestures such as waving hands, clapping, raising your hands, sending emojis, etc.
As off 7.30 am on April 07, these are the prices of largest cryptocurrencies (data from WazirX):
| NAME | PRICE (INR) | 24H % |
| Bitcoin | 34,43,240 | -4.37% |
| Ethereum | 2,51,999.9 | -4.75% |
| Tether | 77.19 | -0.26% |
| Cardano | 83.7900 | -7.92% |
| Binance Coin | 33,432.27 | -4.63% |
| XRP | 60.7893 | -4.8% |
| Polkadot | 1,589.12 | -6.36% |
| Dogecoin | 11.3317 | -10.45% |
Find more blockchain, business and market related stories here
Download your money calendar for 2022-23 here and keep your dates with your moneybox, investments, taxes
