Cryptocurrency
Cryptocurrency is a digital currency designed to function as an exchange medium on computer networks. It is not reliant on any central authority, government, or bank. The record of individual coin ownership is stored in a digital ledger, which is a computerized database. It uses strong cryptography to secure transaction records, control the creation of additional coins, and verify the transfer of coin ownership (Cryptocurrency Safety). Cryptocurrency is generally seen as a separate asset class. Some cryptocurrency schemes utilize validators to maintain the cryptocurrency. In a proof-of-stake model, owners hold their tokens as collateral or stake.
Cryptocurrencies are digital assets that do not exist in physical form and are generally not issued or controlled by any central authority. Cryptocurrency usually employs decentralized control instead of central bank digital currency (CBDC). When it is mined by the issuer of the cryptocurrency, it is generally considered decentralized.
Cryptocurrency is a digital representation of tradable digital assets or money created on blockchain technology, which exists solely online. It utilizes encryption to authenticate and secure transactions, hence its name (Cryptocurrency Naming).
Currently, there are more than a thousand types of cryptocurrencies in the world. Bitcoin, first released in 2009 as open-source software, is the world’s first decentralized cryptocurrency. Since the release of Bitcoin, many other cryptocurrencies have been created.
Only two cryptocurrencies show significant activity, the slow trend in Bitcoin:
There is significant volatility in the crypto market today. Among the top 10 cryptocurrencies by market cap, only two, Cardano and Solana, are experiencing solid movements. Both of these cryptocurrencies have seen a decrease of more than one percent. As for the other cryptocurrencies, whether in the green or red zone, their movements are less than one percent.
Significant Weekly Decline Limited to Only Two Cryptocurrencies
The crypto market is experiencing significant volatility today. Among the top 10 cryptocurrencies by market cap, only two, Cardano and Solana, show strong movements. Both of these cryptocurrencies have seen a decrease of more than one percent. As for the other cryptocurrencies, whether in the green or red zone, their movements are less than one percent. Speaking of the largest cryptocurrency, Bitcoin, it is relatively slow today, but its dominance in the market has increased slightly. One Bitcoin is currently priced at $26,901.89 (INR 22.30 lakhs) with a decrease of 0.19 percent.
Similarly, the second-largest cryptocurrency, Ethereum, has also weakened by less than half a percent today. In terms of the overall crypto market, there has been a 0.09 percent increase in the global market cap in the past 24 hours, reaching $1.13 trillion (INR 93.68 lakh crore).
Trends in the Top 10 Cryptocurrencies
Crypto Current Price 24-hour Change
Bitcoin $26,901.89 (-) 0.19%
Ethereum $1,814.80 (-) 0.31%
Tether $1.0 0.01%
BNB $308.97 (-) 0.09%
USD Coin $0.9999 0.00%
XRP $0.4651 0.33%
Cardano $0.3655 (-) 1.17%
Dogecoin $0.07337 (-) 0.22%
Polygon $0.8709 (-) 0.54%
Solana $20.22 (-) 1.14%
Slippage in Cryptocurrency Transactions
There has been a decrease in cryptocurrency transactions in the past 24 hours. According to the available data on CoinMarketCap, there was a total trading volume of $2.239 billion (INR 1.86 lakh crore) in the cryptocurrency market, which is 27.13% lower compared to the previous day. In the last 24 hours, Bitcoin’s position in the cryptocurrency market has strengthened by 0.02%, and it now holds a market share of 46.31% in the crypto market.
