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Top cryptocurrency news on August 22: Bitcoin at Rs 18 lakh, Ripple unveils crypto on demand service and more

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Major cryptocurrencies were trading in the green early on August 22 as the global crypto market cap increased 1.05 percent to $1.02 trillion over the previous day. The total crypto market volume, however, dropped 19.18 percent to $58.82 billion over the last 24 hours. The total volume in DeFi stood at $4.50 billion, 7.66 percent of the crypto market's 24-hour volume. The volume of all stable coins was at $56.17 billion, which is 95.50 percent of the crypto market's 24-hour volume. The price of bitcoin hovered around Rs 18 lakh. Its dominance stood at 40.10 percent, a decrease of 0.06 percent over the day, according to CoinMarketCap. Read full here

Big Story

Ripple unveils crypto on-demand liquidity service in Brazil

Ripple introduced its crypto on-demand liquidity (ODL) service in Brazil in partnership with Travelex Bank, it said on August 18. The digital payment company's ODL uses XRP to accelerate the transfer and exchange of fiat currencies between countries. Travelex is the first bank in Latin America to use ODL, Ripple said, adding the bank is also the first to be registered and approved by the Brazilian Central Bank to operate in foreign exchange. “Brazil is a key market for Ripple given its importance as an anchor to business in Latin America, its openness to crypto and country-wide initiatives that promote fintech innovation,” Ripple CEO Brad Garlinghouse said in a statement. Read details here

NFT Buzz

CryptoPunk Ethereum NFTs floor price flips Bored Apes for first time in 5 months

For a brief, shining moment on August 21 morning, the CryptoPunks flipped the Bored Ape Yacht Club, the floor price of the veteran NFT collection topping that of the celebrity-coveted primates for the first time since March, according to NFT Price Floor. As with the last short-lived flip, the Bored Apes quickly regained the top spot, which they've effectively held all year. Still, CryptoPunks has been closing on the Bored Ape Yacht Club since June, and if the trend continues, CryptoPunks may soon retake the lead—and hold it. The collection of non-fungible tokens (NFTs) on the Ethereum blockchain is widely credited with sparking the NFT craze, inspiring the ERC-721 standard as well as prominent collections that followed—including the Bored Ape Yacht Club, which launched in April 2021. Take a look

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