A daily round-up of the most interesting articles on cryptocurrencies like Bitcoin, Ethereum and Tether to help jump-start the day.
Most cryptocurrencies are trading mixed on October 8. The global cryptocurrency market capitalisation is currently $2.28 trillion, down 0.56 percent in the past 24 hours. The total cryptocurrency market volume over the last 24 hours is $124.52 billion, an decline of 15.28 percent. Bitcoin's price is currently above Rs 41 lakh and its dominance is 44.49 percent, a decrease of 0.73 percent over the day.
Cryptocurrencies have risks, but don’t overlook the opportunities they present
Cryptocurrencies are products of free markets. As long as we have ringfenced the stability of the financial system, and clearly communicated that all risk of innovation failing is on the participants, we should let the markets play.
Bitcoin boom to $55,000 gathers steam from Soros fund backing
Notably, the Soros fund is also an investor in crypto firms such as NYDIG and Lukka, giving heat to a rising trend of family offices diving deeper into the cryptocurrency space, with Steve Cohen's Point72 Asset Management investing in crypto startups such as Messari and Zero Hash. Even Dan Loeb’s Third Point fund reportedly wades in cryptocurrency.
Will cryptocurrencies be Kryptonite for central banks? (MC PRO)
The spectre of cryptocurrency is haunting central banks. Cryptocurrency adoption is proceeding by leaps and bounds. From a mere $191 billion at the beginning of last year, the current market capitalisation of crypto assets total more than $2 trillion. An IMF report says the risks from the rapid adoption of crypto assets are fast rising and, rather than ban them, ways and means must be found to regulate them.
MoneyControl
