Top Cryptocurrency News Today: Bitcoins and others in news

A daily round-up of the most interesting articles on cryptocurrencies to help you jump-start the day.

June 17, 2022 / 12:03 PM IST

[content][quote]Market Buzz[/quote][title]Bitcoin trading over Rs 17 lakh[/title][circularimage][/circularimage][body]
Major cryptocurrencies traded in the red early on June 17 as the global crypto market cap increased 6.88 per cent to $893.36 billion over the last day. Total crypto market volume dropped to $75.88 billion. The total volume in DeFi stood at $6.24 billion, 8.23% of the total crypto volume in the last 24 hours. The volume of all stable coins was $65.58 billion, which is 86.42 per cent of the total crypto market’s 24 hour volume, according to CoinMarketCap. The price of Bitcoin hovered over Rs 17 lakh, down nearly 8 per cent with a dominance of 44.47 per cent. Read More

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[content][quote]Big Story[/quote][title]Crypto selloff resumes as post-Fed mood sours[/title][body]
The selloff in the digital-asset space accelerated Thursday, with losses in US equities also snowballing, a day after the Federal Reserve raised interest rates by the most in decades. Ether, down as much as 8.3% on Thursday to trade around $1,080, is facing a tougher road than most. The native token for the Ethereum blockchain is on pace to decline for a 10th straight day, the longest losing streak in Bloomberg records back to February 2018. It has lost about 40% since the start of June alone. Bitcoin, meanwhile, held up relatively better, though it still shed 4.2% at one point during the session. Many investors say the largest cryptocurrency by market value often serves a place of refuge for crypto investors during volatile periods. Read Further

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[content][quote]Hedge Funds[/quote][title]Crypto hedge fund Three Arrows Capital fails to meet margin calls -FT[/title][body]
Singapore-based crypto hedge fund Three Arrows Capital failed to meet margin calls this past weekend as cryptocurrency prices slid, according to a report from the Financial Times. New Jersey-based crypto lender BlockFi was among the groups that liquidated at least some of Three Arrows’ positions, the FT said, citing people familiar with the matter who it did not identify. Three Arrows, which made a strategic investment in BlockFi in 2020, had borrowed bitcoin from the company, the FT said, but was unable to meet a margin call on that loan. One of the people said the liquidation had occurred by mutual consent, the FT said. The company and co-founder Kyle Davies did not immediately respond to requests for comment during the U.S. day. In a tweet, BlockFi CEO Zac Prince said his company liquidated collateral against a loan to a large client, without naming who the client was. (Reuters)[/body][/content]

–> [content][quote]Big Story[/quote][title]Crypto selloff resumes as post-Fed mood sours[/title][body]
The selloff in the digital-asset space accelerated Thursday, with losses in US equities also snowballing, a day after the Federal Reserve raised interest rates by the most in decades. Ether, down as much as 8.3% on Thursday to trade around $1,080, is facing a tougher road than most. The native token for the Ethereum blockchain is on pace to decline for a 10th straight day, the longest losing streak in Bloomberg records back to February 2018. It has lost about 40% since the start of June alone. Bitcoin, meanwhile, held up relatively better, though it still shed 4.2% at one point during the session. Many investors say the largest cryptocurrency by market value often serves a place of refuge for crypto investors during volatile periods. Read Further

Source: https://www.moneycontrol.com/news/business/cryptocurrency/top-cryptocurrency-news-today-bitcoins-and-others-in-news-8699311.html

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