Top cryptocurrency news on October 16: Bitcoin at Rs 16 lakh, Uniswap raises $165 million and more – Moneycontrol





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Last Updated : October 16, 2022 / 09:22 AM IST
Top cryptocurrency news on October 16: Bitcoin at Rs 16 lakh, Uniswap raises $165 million and more
A daily round-up of the most interesting articles on cryptocurrencies like Bitcoin, Ethereum and Tether to help jump-start the day

Market Buzz
Bitcoin at Rs 16.34 lakh

Major cryptocurrencies were trading in the red early on October 16 as the global crypto market cap declined to 0.35 percent to $916.00 billion, over the last day. The total crypto market volume over the last 24 hours is $2.89 billion, which is a 95.59 percent decrease. The total volume in DeFi is currently $2.50 billion, which is 86.32 per cent of the total crypto market 24-hour volume. The volume of all stable coins is now $33.27 billion, which is 1149.27 per cent of the total crypto market 24-hour volume. The price of bitcoin hovered around Rs 16 lakh, with a dominance of currently 40.03 per cent, which is a decrease of 0.02 percent over the day, according to Coinmarketcap. Read full here

Big Story
Ethereum decentralized exchange Uniswap raises $165M in new funding

The crypto bear market may have scared off retail investors, but it hasn’t driven away venture capitalists looking to fund DeFi projects. Uniswap announced its latest raise of $165 million, led by Polychain Capital. Joining Polychain Capital in the Series B funding round are a16z crypto, Paradigm, SV Angel, and Variant. “I’m so excited to announce that we’ve raised $165 million in Series B funding,” Uniswap founder Hayden Adams said in a post announcing the raise. Last month, TechCrunch reported that the then in-progress round could total between $100 million and $200 million, with a Singapore-based sovereign investment fund and Polychain tied to the deal. The latest round gives Uniswap a $1.6 billion valuation. Read details here

NFT Buzz
CoinShares creates Twitter bot that gives traders ‘fair prices’ for Ethereum NFTs

Crypto asset investment and trading group CoinShares has launched an experimental Twitter bot, CoinSharesNFTAI, that can calculate a “fair price” for a given NFT. NFTs—unique blockchain tokens that signify ownership—can have wildly fluctuating prices. CoinShares’ Twitter bot aggregates data and tells users at what price a specific NFT could be bought or sold for. The firm told Decrypt via email that it created the NFT pricing bot because its research team wanted to provide a tool to help NFT investors and traders. Read more here
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