Cryptocurrency Prices Today August 26: Ether, Bitcoin rise as crypto m-cap inches higher

moneycontrol.com:

Major cryptocurrencies were trading in green early on August 26 as the global crypto market cap increased 0.41 percent to $1.04 trillion over the previous day. On the other hand, the total crypto market volume over the last 24 hours declined 2.21 percent to $64.04 billion.

The total volume in DeFi, or decentralised finance, stood at $4.85 billion, 7.57 percent of the total crypto market 24-hour volume. The volume of all stablecoins was $58.07 billion, accounting for 90.67 percent of the crypto market's 24-hour volume.

The price of bitcoin hovered around Rs 17.98 lakh. Bitcoin’s dominance was 39.66 percent, a fall of 0.05 percent over the day, according to CoinMarketCap.

ED raids premises linked to CoinSwitch Kuber

The Enforcement Directorate (ED) on Thursday searched five locations linked to cryptocurrency platform CoinSwitch Kuber, sources told The Economic Times.

Silicon Valley-based Andreessen Horowitz and Sequoia Capital India-backed CoinSwitch Kuber is the third exchange which is facing ED lens for the alleged diversion of proceeds of crime raised by 365 instant loan apps by offering loans at exorbitant rates of interest.

The exchange did not confirm or deny ED searches and said, “We receive queries from various government agencies. Our approach has always been that of transparency.” Crypto is an early-stage industry with a lot of potential and we continuously engage with all stakeholders, a company spokesperson said in a statement. Read more details here.