Cryptocurrency Today: The largest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH) were trading in the red on Thursday evening, while crypto coin Optimism (OP) went up by 17.88 per cent to reach $1.99 and become the biggest gainer of the day.
The global crypto market capitalisation went down by 1.58 per cent to $1.07 trillion as of 4.50 pm. However, the global crypto volume was down by 15.51 per cent to $64.46 billion, according to Coinmarketcap data.
The trading volume in the decentralised finance coins section is about $6.1 billion, down by 11.13 per cent.
Bitcoin
As of 8.50 am, Bitcoin was down by 2.19 per cent at $22,845.38. A new bill filed in the United States Senate would make the Commodity Futures Trading Commission (CFTC) the primary regulator of the world’s biggest cryptocurrencies.
The bill, introduced by the Senate Agriculture Committee’s top Democrat and Republican, would give the derivatives regulator sole power over Bitcoin and Ether, the two most prominent cryptocurrencies, as well as any other crypto goods considered to be commodities.
BTCs market cap was down by 2 per cent at $437,537,749,728. The fear sentiment is high in the crypto market, as trading volume is down by 13 per cent $24,847,686,662.
Ethereum
The price of Ethereum (ETH) this evening was $1,616.93, and it was up by 2.56 per cent.
Enkrypt, developed by MyEtherWallet (MEW), seeks to address this issue. Originally regarded as the first-ever wallet interface for Ethereum, the team has recently refocused its efforts to solve this new market concern by collaborating with Polkadot to create its own Web3-compatible wallet extension, Enkrypt.
Ethereum did not move much as regards price. Ethereum was trading at $1,658.50 on August 4, 10:30 AM, then fell sharply to $1621 11:59. Its trading volume was down by 23.22 per cent at $15,667,122,753.
Other Altcoins
The price of Solana (SOL) was down by 2.41 per cent at $38.68. Solana announced that there is no bug in its core code; the bug was in the third-party wallet. Slope, the third-party wallet, allegedly stored users’ private key information in plain text.
This exploit was isolated to one wallet on Solana, and hardware wallets used by Slope remain secure.
While the details of exactly how this occurred are still under investigation, but private key information was inadvertently transmitted to an application monitoring service. 2/3
— Solana Status (@SolanaStatus) August 3, 2022
Cardano (ADA) was down by 1.72 per cent at $0.502. The 24-hour trading volume for ADA was down by 20.16 per cent at $513,353,037.
Binance (BNB) was up by 3.55 per cent at $301.17. Its 24-hour trading volume gained 13.03 per cent at $2,198,121,156.
Meme Coins
Dogecoin (DOGE) was down by 1.80 per cent at $0.06661. Its 24-hour trading volume was down by 21.1 per cent at $257,969,089.
Shiba Inu (SHIB) was up by 1.63 per cent at $0.00001184, its trading volume went down by 14.44 per cent to $308,302,345.
Decentralised Finance (DeFi)
Yearn.Finance (YFI) was down by 0.91 per cent at $10,823.02. Its 24-hour trading volume was down by 26.54 per cent at $100,627,158.
