- Market Buzz
Bitcoin trading above Rs 48 lakh.
Cryptocurrencies traded in the mixed early today on November 06. The global cryptocurrency market cap is $2.71 trillion, a 0.39 percent decrease over the last day, according to CoinMarketCap. Further, the total crypto market volume over the last 24 hours is $112.74 billion, which makes a 11.61 percent decrease. The total volume in DeFi is currently $14.37 billion, 12.74 percent of the total crypto market 24-hour volume. The volume of all stable coins is now $87.58 billion, which is 77.68 percent of the total crypto 24-hour market volume. Bitcoin’s price is currently Rs 48 lakh, and its dominance is currently 42.56 percent, a decrease of 0.77 percent over the day.
2. In Focus
New York Mayor-elect Eric Adams to take his first three paychecks in bitcoin.
New York Mayor-elect Eric Adams said that he would take his first three paychecks in bitcoin and that the city would become the “center of the cryptocurrency industry.” “In New York we always go big, so I’m going to take my first THREE paychecks in bitcoin when I become mayor,” Adams wrote in a Twitter post. “NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries! Just wait!” Adams, a Democrat, will become the second Black mayor of the United States’ most populous city in January after easily defeating Republican Curtis Sliwa, founder of the Guardian Angels civilian safety patrol.
3. Meme Watch
Shiba Inu dog, that inspired “Doge” meme and Dogecoin, turns 16
Kabosu, the rescue Shiba Inu dog in Japan that inspired the iconic “Doge” meme, turned 16 this week. The meme, widely shared on the internet, inspired the Dogecoin cryptocurrency. Kabosu gained the internet fame over a decade ago, when her owner, Atsuko Sato, a Japanese kindergarten teacher, posted pictures of her online in 2010. By October of the same year, a Reddit user coined the word “Doge” by captioning one of the photos of Kabosu. “Today is Kabosu’s birthday. She is 16 years old,” she wrote on Instagram.
Why Zerodha’s Nithin Kamath does not invest in cryptocurrencies
This Diwali, Nithin Kamath, India’s 86th richest man and founder of Zerodha shares with us spending and investing tips to follow this new year. In a candid chat with Moneycontrol personal finance, Nithin recounts one of his financial regrets in his younger years, as he shares with us a few insights on how to spend, save and invest smart, along with his views on the much-debated investments in cryptocurrency this Diwali.