The global crypto market cap decreased 0.04 per cent to $1.06 trillion over the last day. The total crypto market volume over the last 24 hours increased 38.63 per cent to $94.33 billion. The total volume in DeFi is currently at $6.70 billion, which is 7.10 per cent of the total crypto market 24-hour volume. The volume of all stable coins is now $87.18 billion, which is 92.42 per cent of the total crypto market 24-hour volume. The price of Bitcoin hovered over Rs 18 lakh. Its dominance is currently 40.24 per cent of the crypto market, an increase of 0.79 per cent over the day, according to CoinMarketCap. Read full here
Big Story
Ethereum blockchain to undergo major upgrade to cut energy use
A long-awaited software upgrade to the Ethereum blockchain aimed at slashing its huge energy consumption is expected this week, a move proponents say may widen the technology's use and support the price of the ether token. The upgrade, known as the "Merge," will mark a radical change to how transactions on the Ethereum blockchain occur, and ether tokens are created. The new system will consume 99.95% less energy, according to the Ethereum Foundation, a body which acts as a spokesperson for the network. The exact timing for the Merge is unknown, but Google and other sites tracking the blockchain were on Monday predicting it would take place in the early hours of Thursday. Read details here
NFT Buzz
Bored Ape NFT Metaverse band taps Beyoncé, Bruno Mars producers
Universal Music Group announced today that its virtual metaverse band, Kingship—which features characters based on Bored Ape Yacht Club NFT artwork—has tapped a pair of very real music producers that have created hits for superstars like Beyoncé, Jay Z, and Bruno Mars. The veteran producers—Chauncey “Hit-Boy” Hollis and James Fauntleroy—will take the roles of co-executive producers and songwriters behind the Bored Ape band, and work to create music for the NFT-inspired characters to perform in videos and immersive online metaverse worlds. Take a look
