There are a staggering 6,500 cryptocurrencies out there globally. Bitcoin is the most desirable and is currently available for about USD 60,000 (nearly Rs 45 lakh) per coin with a market cap of about USD 1 trillion, as per an IANS report.
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Bitcoin’s dominance rose to a Monday high 44.39% before falling to a Friday low 42.53%. At the time of writing, Bitcoin’s dominance stood at 42.85%.
If this type of extreme drop bothers you, you may have too much riding on your crypto investments. You should only invest what you’re OK losing. But even if the drop is making you rethink your crypto allocations, the same advice still stands — don’t act rashly or upend your strategy too quickly. Reconsider what you might be more comfortable with going forward, such as allocating less to crypto in the future or diversifying through crypto-related stocks and blockchain funds rather than directly buying crypto (though you should still expect volatility when cryptocurrency markets fluctuate).
Going forward, it's impossible to know for sure how the value will change and whether it could rise further.
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Unlike traditional payment processors, such as PayPal and credit cards, most cryptocurrencies have no built-in refund or chargeback functions, although some newer cryptocurrencies have rudimentary refund features.
Many cryptocurrencies are built on blockchain technology, which is a distributed ledger enforced by a distributed network of computers. Cryptocurrencies are distinguished from fiat currencies like the United States dollar or the British pound because any central authority does not issue them, making them potentially impervious to government intervention or manipulation.
HUH Token has made a big splash in the sea of cryptocurrencies and they have done well to make a name for themselves. So, why is this the case? Cryptocurrencies launch all the time, so what makes HUH Token any different?
It's likely SafeMoon - the 203rd-ranked cryptocurrency on CoinMarketCap - will eventually be listed on further exchanges. This is especially likely after Coinbase CEO Brian Armstrong tweeted in June: "Our goal is to list *every* asset where it is legal to do so."
The former US banking regulator and crypto enthusiast is resigning at a time when regulators in Hong Kong, Britain, Germany, Japan, Italy and Thailand have cracked down on Binance due to worries over investor protection. Watchdogs globally also fret that the boom in cryptocurrencies is aiding money laundering and increasing systemic risks.
On early Monday morning, the value of a Squid coin collapsed from a high of just over $2,860 to effectively zero as cryptocurrency traders watched the token’s unknown creators clean out some $3.3 million in funds, according to digital records.
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Squid is what is known as a "play-to-earn" cryptocurrency, where people buy tokens to play in online games where they can earn more tokens. These can then be exchanged for other cryptocurrencies or fiat money.
Cryptocurrency is formed through a process known as mining, which entails employing computer processing power to solve complex mathematical problems to earn coins. Users can also purchase the currencies from brokers, which they can then store and spend using encrypted wallets.