Top cryptocurrency news on July 10: Major stories on Bitcoin, Binance and NFTs – Moneycontrol.com

Cryptocurrency market is in the green/red/mixed on July 10

The cryptocurrency market is in the green on July 10 (today). The global cryptocurrency market cap is $1.41 trillion, a 4.35 percent increase over the last day. The total crypto market volume over the last 24 hours is $73.83 billion, which makes a 5.15 percent decrease. The volume of all stable coins is now $54.73 billion, which is 74.13 percent of the total crypto market 24-hour volume. Bitcoin's price is currently $33,879.76 and its dominance is 45.08 percent, a decrease of 0.11 percent over the day. XRP gained the most by 6.63 percent, followed by Uniswap which gained 6.12 percent; while Tether fell the most by -0.02 percent. Read full here.

Big Story

After global crypto crackdown, Binance promises to double international compliance team by 2021 end

Cryptocurrency exchange Binance plans on doubling its compliance team and said it will humbly welcome more capable talents" as it faces a blizzard of global regulatory probes. Around the world, regulators are worried about criminals using cryptocurrencies as a conduit for money laundering and about investors falling victim to scams in the red-hot sector. Reacting to this, CEO Changpeng Zhao said Binance's international compliance team and advisory board had grown by 500 percent since last year" and planned to double by the end of 2021, without giving figures for intended hires. Read full here.

Analysis

After a rough quarter, cryptocurrencies are on the rise again

After losing market favour post a bloody quarter, the market for cryptocurrencies seems to be warming up again. In what can only be described as a 'bear market' for the crypto space, the last quarter seemingly brought to halt the euphoria around the alternative currencies, which are currently valued at halved values from their all-time highs. See more here.

Now This

No takers; rare diamond offered in exchange for cryptocurrency sold for $12.3 million cash instead

Sotheby's auction for its rare 101.38-carat diamond (known as Key 10138) was sold for HK$95.1 million ($12.3 million) reportedly using traditional currency. Dubbed as the 'first ever important diamond in the world to be auctioned with cryptocurrency as an accepted method of payment by Sotheby, the auction was a let down for cryptocurrency enthusiasts. Earlier, the New York-based auction house had announced that it will accept payment in Bitcoin or Ether for its upcoming sale of 101.38-carat pear-shaped flawless diamond. Read details here.

Around the World

Israeli president given NFT of father's oath of office

Israel's parliament has hopped on the latest trend in digital artwork and presented the country's new president with a digital copy of his father's signed oath of office from 38 years earlier. The Knesset presented Isaac Herzog with the NFT ahead of his inauguration as Israel's 11th president on Wednesday. The Knesset's Technology and Computing Division dug out the oath of office signed by former president Chaim Herzog father of the newly instated president from the parliamentary archives and created an encrypted digital image. That NFT was loaned to the President's residence and presented to President Herzog ahead of his inauguration. Read more details here.

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Top cryptocurrency news on July 10: Major stories on Bitcoin, Binance and NFTs - Moneycontrol.com