Top Cryptocurrency News: Bitcoin Surpasses Rs 16 Lakh, Bitget Surpasses FTX In Derivatives

Bitcoin prices above Rs 16 lakh

As of September 6, major cryptocurrencies were trading in the red as the global Cryptocurrency market cap increased by 1.42 percent to $995.82 billion. The total Cryptocurrency market volume increased 30.51 percent to $62.66 billion in the last 24 hours.

The total volume of DeFi stands at $5.62 billion, 8.97 percent of the total crypto market. The total volume of all stablecoins is $57.69 billion, which is 92.08 percent of the total crypto market.

The price of Bitcoin rode over Rs 16 lakh. Its percentage of predominance is currently 38.21 percent, a decrease of 0.50 percent over the previous twenty-four hours, as recorded by CoinMarketCap.

Bitget Surpasses FTX In Derivatives Trading Volume

Bitget, one of the leading derivatives exchanges, surpassed FTX and top exchanges including KuCoin,, and Huobi Global in terms of derivative trading volume as per information provided by CoinGecko.

As the overall crypto market continues to face volatility and negative headwinds, Bitget has maintained solid growth at over 500 percent according to CoinGecko data.

Maintaining a tremendous growth record to generate strong and recurring cash flow despite uncertain market conditions.

A recent research report issued in collaboration with Boston Consulting Group (BCG) has unveiled substantial development trends in crypto trading markets, its role in enabling the Web3 economy, and shares insights on navigating the crypto space during a bear market.

Is India The Next Big Thing For Millennial Entrepreneurs In The Web3 Space?

The Indian Web3 community is filled with younger inventors below the age of 35, whose business models are disrupted owing to the alcohol taxation system, limited domain knowledge, and security issues.

The tax legislation that is detrimental to the crypto industry has proven a vicious cycle for Web3 entrepreneurs as well.

Many businesspeople in this environment believe that regulatory clarity in this emerging industry is a big question in India and globally.

Clear guidelines, better formal reporting practices, and VDA-specific tax solutions are essential to help young founders navigate through challenges as they focus on the vision of their company.

Binance To Convert Users’ USDC Into Its Own Stablecoin: What Does This Mean For The Future Of Cryptocurrency?

Earlier on Monday, Binance, the largest crypto exchange, said it will be introducing “BUSD Auto-Conversion,” a program that will automatically convert any user balances and new deposits of the US dollar coin (USDC), Pax dollar (USDP), and True dollar (TUSD) into its own stablecoin.

The move is intended to enhance liquidity and capital efficiency for users, the company said in a statement. Binance said it will remove and cease any trading on spot pairs that include USDC, USDP, and TUSD; it will start the conversion on September 29.

Lawyer Of Alleged Crypto Launderer Urges Russia To Discuss Prisoner Swap

The lawyer of a Russian citizen busted laundering more than $4 billion through the crypto-currency Bitcoin made an appeal for Moscow to enter the talks concerning his client with the U.S. government on Monday.

US Secretary of State Antony Blinken said that in July, Washington had made Moscow a significant offer with the prospect of the release of American citizens held in Russia, including US basketball star Brittney Griner and former Marine Paul Whelan.

In a letter seen by Reuters, a lawyer for Russian Alexander Vinnik, extradited earlier in the month to the United States to face money laundering charges, called on Foreign Minister Sergei Lavrov to commence trade talks with Washington. Read more articles on rozyjos.