News for UMA USD (UMAUSD)

Ethereum is already home to tokenized real world assets like Gold and other security tokens. Click here to read my analysis.

Bitcoin, the largest cryptocurrency by market capitalisation, rose 0.90 per cent to $20,400.14 in the last 24 hours, yet it was down 3.94 per cent in the last seven days.Ethereum climbed 4.34 per cent to $1,606.04, reducing its seven day fall to 0.55 per cent.BNB advanced 0.70 per cent to $288.73.

The global cryptocurrency market cap was trading at the $1.04 trillion mark, rising about 2 per cent in the last 24 hours. However, the total trading volume dropped more than 7 per cent close to $65.46 billion.

The RBI chief said, "cryptos may lead to dollarization of the developing countries like India as the prices of crypto tokens are mostly denominated in dollars."He said that this will create serious financial instability in the country. The RBI governor also added that cryptos pose a serious risk for small investors who are prone to lose their money.

The reason for the drop was not immediately clear. Bitcoin fell as much as 7.7% to $21,404 over a few minutes during the European morning. It recovered slightly and last stood at $22,047. Ether was last down 5% at $1,753.

IBAT is a utility-based crypto token which is gaining popularity among users. The token was on PancakeSwap on Wednesday at 16:00 UTC.In its presale initial dex offering (IDO), the token rose close to 700 per cent to $0.011 from $0.0015, putting it among the top performing crypto IDOs of the year amid the bear market.

Bitcoins slipped below the $23,000 mark amid the anticipation of further rate hikes. Even for Ethereum, the merge excitement got done and dusted. Experts see a range-bound movement in the days ahead.

The largest cryptocurrency rose as much as 2.2% on Sunday to $25,031, its highest level since June 13. It was trading around $24,750 as of 6 a.m. New York time, rising a fifth straight day in a streak fueled by US consumer-price index data that came in below expectations.

The crypto market plunged in May and June as worries about high inflation and Federal Reserve interest rate hikes prompted investors to ditch risky assets. Following the collapse of a major pair of tokens, some cryptocurrency lenders froze customer withdrawals, and several crypto firms have cut jobs.

The global cryptocurrency market cap was trading marginally down at the $1.15 trillion mark, dropping less than a per cent in the last 24 hours. However, the total trading volume topped more than 4 per cent, close to $84.03 billion.