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Top cryptocurrency news on September 22: The biggest moves in crypto market, NFTs and more

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Major cryptocurrencies were trading in the red early on September 22 as the global crypto market-cap declined 2.71 percent to $898.55 billion from the previous day. The total crypto market volume over the last 24 hours increased 29.35 percent to $88.94 billion. The total volume in DeFi stood at $5.51 billion, which is a 6.19 percent of the total crypto market 24-hour volume. The volume of all stable coins was $80.74 billion, which is 90.78 percent of the total crypto market 24-hour volume. The price of bitcoin hovered around Rs 15 lakh, with a dominance of 39.37 percent, an increase of 0.12 per cent over the day, according to CoinMarketCap. Read full here


Big Story


10 red flags to look for before investing in crypto



With the meteoric increase in cryptocurrencies among investors, scammers looking to trick people out of their money using various platforms have seen a rise as well. Cryptos are no exception to the widespread fraud that plagues the financial sector, from banking to insurance and investing. Attackers, con artists, and fraudsters commonly prey on weak people who succumb to FOMO (fear of missing out) by enticing people with seemingly attractive schemes. In order to save themselves from getting trapped in fraudulent projects or pump-and-dump schemes, investors should look out for the following red flags before investing in cryptos or project tokens. Read details here


Bitcoin Buzz


Binance CEO: Bitcoin bear market is 'healthy' for crypto industry long term



Binance CEO Changpeng “CZ” Zhao thinks the Bitcoin bear market is good for crypto. In a conversation with Messari CEO Ryan Selkis at the Mainnet conference Wednesday, CZ—who connected remotely via video chat—said a four-year crypto market cycle is normal and that a bear market is healthier in the long term than a seemingly never-ending upward trend. “Price corrections are actually good,” CZ said, adding that investors shouldn’t look at token prices as signs of how the crypto market is doing. Take a look


NFT Corner


Draft EU law could see NFTs regulated as securities: Law Prof



The European Union’s landmark and now-finalized Markets in Crypto Assets (MiCA) draft legislation asserts that NFTs sold as components of large collections possess little to no distinctively unique qualities or utility, and, therefore, would be subject to the same regulatory scrutiny as cryptocurrencies, according to a leaked draft of the legislation obtained by Decrypt. According to University of Kentucky law professor Brian Fyre, the legislation’s language amounts to the EU labeling major blue-chip NFT collections like Bored Ape Yacht Club (BAYC), Cryptopunks, and Doodles, among others, as securities. Read more here

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