Prices of the top cryptocurrencies today, July 12

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On July 12, major cryptocurrencies experienced a negative opening. The market value of all cryptocurrencies dropped by 3.21 percent from the previous day to USD 888.31 billion. The overall volume traded on the cryptocurrency market fell by 2.54 percent in the last day to reach USD 53.85 billion.

DeFi currently has a 24-hour volume of USD 4.73 billion, or 8.79 percent, of the entire crypto market. Currently, the 24-hour volume of the entire crypto market, which includes all stable coins, is USD 48.97 billion, or 90.92 percent of the total volume.

The price of one bitcoin was approximately Rs 16 lakh. Bitcoin’s market share is at 42.81 percent, down 0.02 percent from the day before, according to data from CoinMarketCap.

In other developments, the Financial Stability Board (FSB), an association of central bankers, treasurers, and regulators from the Group of 20 nations (G20), declared on Monday that it would propose “strong” global rules for cryptocurrencies in October. This announcement was made in response to the current market turbulence, which has made it clear that the “speculative” sector has to be regulated.

The FSB has so far limited itself to monitoring the crypto industry since it did not pose a systemic risk. Nevertheless, the FSB claims that the current volatility in the cryptocurrency markets has highlighted their volatility, structural vulnerabilities, and expanding linkages to the larger financial system.