Let’s Know about Cryptocurrency
A cryptocurrency, often known as a crypto-currency or crypto, is a form of digital money that works as a medium of exchange over a computer network and is not backed or maintained by a central authority such as a government or bank.
Individual currency ownership records are held in a digital ledger, which is a computerized database that uses strong encryption to secure transaction records, control coin creation, and verify ownership transfers.
Cryptocurrency is a digital currency that is not issued by a government and does not exist in physical form (like paper money). Cryptocurrencies, unlike central bank-issued digital money, usually use decentralized control (CBDC).
If a cryptocurrency is minted or created prior to release, or if it is issued by a single issuer, it is considered centralized. When implemented with decentralized governance, each cryptocurrency acts as a public financial transaction database using distributed ledger technology, most commonly a blockchain.
Present Scenario of Cryptocurrencies
In the last 24 hours, the value of the global cryptocurrency market fell 4.55 percent to $1.72 trillion, while trade volumes fell 8.38 percent to $88.88 billion.
The total volume in the decentralized finance (DeFi) sector was $15.16 billion, or 17.06 percent of the 24-hour bitcoin trading volume. Over the course of a 24-hour period, stable coins accounted for $74.71 billion in total trading volume, accounting for 84.06 percent of all cryptocurrency trading volume.
Bitcoin’s market dominance had declined 0.60 percent to 42.42 percent on March 11 morning, and the currency was trading at $38,476.58, just under the $40,000 threshold.
In rupee terms, Bitcoin declined 5.7 percent to Rs 30,42,202, while Ethereum dropped 4.13 percent to Rs 2,02,221 in rupee terms.
The value of the global cryptocurrency market plummeted 4.55 percent to $1.72 trillion in the last 24 hours, while trade volumes dropped 8.38 percent to $88.88 billion.
The entire volume in the decentralized finance (DeFi) area was $15.16 billion, accounting for roughly 17.06 percent of the 24-hour bitcoin trading volume. Stablecoins accounted for $74.71 billion in total trading volume, accounting for 84.06 percent of all cryptocurrency trading volume over a 24-hour period.
On the morning of March 11, Bitcoin’s market domination had dropped 0.60 percent to 42.42 percent, and the currency was trading at $38,476.58, just under the $40,000 barrier.
Bitcoin lost 5.7 percent to Rs 30,42,202 in rupee terms, while Ethereum fell 4.13 percent to Rs 2,02,221 in rupee terms.
Dogecoin was down 2.55 percent at Rs 9.14, while Memecoin SHIB was down 4.74 percent. Terra (LUNA) is now trading at Rs 7,600, up 0.46 percent.
In other developments, Warner Bros. is planning to release over six million DC Comics-themed physical trading cards with redeemable NFTs later this month. Cartamundi, a card and board game company, will develop the cards, which will include 155 superheroes. On Ethereum’s Immutable X sidechain, NFTs are created.
Warner Bros. also intends to release a few limited-edition cards featuring artwork and characters from Robert Pattinson’s most recent DC Comics film.