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Friday, Aug 12, 2022
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Bitcoin, Ethereum, Meme Coins Fall; Australia to Create Licencing Structure For Crypto Exchanges

Bitcoin falls 4.48 per cent in the last 24 hours, while Ethereum was down 3.05 per cent, according to coinmarketcap.com. The global crypto market cap was $2.31 trillion, registering a decrease of 3.49 per cent in the last 24 hours.

Bitcoin, Ethereum, Meme Coins Fall; Australia to Create Licencing Structure For Crypto Exchanges
Bitcoin, Ethereum, Meme Coins Fall; Australia to Create Licencing Structure For Crypto Exchanges
outlookindia.com
2021-12-08T19:17:47+05:30

Australia will create a licencing structure for cryptocurrency exchanges and contemplate creating a retail central bank digital currency (CBDC), according to a Reuters report.

Prices of Bitcoin fell 4.48 per cent in the last 24 hours and the coin was trading at $49,232.24 at 5 pm, according to data from global crypto exchange coinmarketcap.com. Bitcoin’s dominance in the crypto market is currently 40.23 per cent with a decrease of 0.20 per cent over the day.

Ethereum was down 3.05 per cent and was trading at $4,267.25, while Binance Coin (BNB) witnessed a fall of 2.37 per cent and was trading at $573.04. Solana (SOL) was trading at $185.48, falling 8.09 per cent, and Cardano (ADA) fell 6.15 per cent to $1.35.

 

Meme Coins

All major meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), Dogelon Mars (ELON) and Samoyedcoin (SAMO) fell in the last 24 hours.

Dogecoin witnessed a fall of 3.70 per cent and was trading at $0.1743 at 5 pm. Rival Shiba Inu lost 4.66 per cent and was trading at $0.00003615, Dogelon Mars fell by 8.42 per cent and was trading at $0.000001183, while Samoyedcoin was trading at $0.04319 and recorded a fall of 8.78 per cent.

 

Overall Scenario

The global crypto market cap was $2.31 trillion, registering a decrease of 3.49 per cent in the last 24 hours, while the total crypto market volume was $105.54 billion, down 17.82 per cent.

LinkArt (LAR) became the biggest gainer, recording a rise of 2,716.45 per cent; it was trading at $0.007081 at 5 pm. On the other hand, SynexCoin (MINECRAFT) witnessed maximum loss, falling 81.18 per cent; it was trading at $0.02049.

 

Latest Update

Visa, an American financial service company, on Thursday announced the launch of Visa’s Global Crypto Advisory Practice, an offering within Visa Consulting & Analytics (VCA) designed to help clients and partners advance their own crypto journey, according to a press release on usa.visa.com.

Visa named American bank UMB as a client that’s already using its crypto advisory services.

Meanwhile, the Australian government is planning to create a licencing framework for cryptocurrency exchanges and considering launching a retail central bank digital currency (CBDC), according to a Reuters report. The news comes as India debates a proposed cryptocurrency Bill and CBDC in the Winter Session of Parliament.

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