Thursday, Aug 11, 2022
Outlook.com

Crypto Coins Price Falling, Warren Buffett's Business Partner Vowed To Never Buy Crypto

Bitcoin was down by 2.35 per cent in the last 24 hours, while Ethereum fell 5.11 per cent. Warren Buffett's business partner criticised the crypto market and mentioned he never invested in crypto.

Binance, a cryptocurrency exchange is in talks with PT Bank Central Asia (BCA) or commonly known as Bank Central Asia which is owned by billionaire brothers Budi and Michael Hartono and state-owned PT Telkom of Indonesia for a possible cryptocurrency venture in Indonesia, reported Bloomberg. Meanwhile, prices of mainstream cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH ) continue to fall for the last 24 hours, data of coinmarketcap.com showed. 

 

When on one hand, the crypto market is getting volatile, recent comment from Warren Buffett's 97-year-old business partner has created further stir among crypto investors. He warned the current market is wilder than the dot-com bubble, ruled out ever owning cryptocurrencies, and praised China's ongoing regulatory crackdown at the Sohn Hearts & Minds Conference this month.

 

The price of Bitcoin fell 2.35 per cent from the last 24 hours and was trading at $48,224.31. Meanwhile, Bitcoin’s dominance in the crypto market is currently at 40.44 per cent, up by 0.56 per cent in the last 24 hours. 

 

Ethereum was trading at $4,096.06 and fell by 5.11 per cent in the last 24 hours, while Binance Coin (BNB) fell 2.56 per cent over the same period of time. Solana (SOL) was trading at $177.62, falling 5.51 per cent, and Cardano (ADA) fell 4.58 per cent to $1.30.

 

Meme Coins

All major meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), Dogelon Mars (ELON) and Samoyedcoin (SAMO) also witnessed a fall in the last 24 hours. 

 

Dogecoin witnessed a fall of 5.49 per cent and was trading at $0.1691 at 4:30 pm. Rival Shiba Inu was down by  5.24 per cent and was trading at $0.00003483, Dogelon Mars fell by 4.18 per cent and was trading at $0.000001152, while Samoyedcoin was trading at $0.04232 and recorded a fall of 8.86 per cent.

 

Overall Scenario

 

The global crypto market cap was $2.25 trillion, registering a decrease of 3.58 per cent in the last 24 hours, while the total crypto market volume was $104.12 billion, up by 0.17 per cent.

 

Prince Folki V2 (PrinceFolki) became the biggest gainer, recording a rise of 446.34 per cent; it was trading at $0.000005918 at 4:30 pm. On the other hand, Baby Bilioneries Club (3COMMAS) witnessed maximum loss, falling 74.22 per cent; it was trading at $0.0001564.

 

Trending Coins 

 

Rainbow Token ( RAINBOW) with rise of 3.73 per cent is the top trending token at coinmarketcap.com at 4:30 pm and was trading at $0.00000002412 price. Meanwhile, Rewards Bunny (RBUNNY) with a jump of 8.40 per cent and coin price of $0.01122 was at second position in the list. MicroPets (PETS) with an increase of 18.43 per cent was at third position and was trading at $0.000004069.

 

Latest Update 

 

Members of Parliament in the United Kingdom have asked the Financial Conduct Authority (FCA) to restrict cryptocurrency firms' use of the words "invest" and "investment" for promotional reasons, cointelegraph.com reported. 

 

In the meantime, Charlie Munger — a billionaire investor and the vice-chairman of Buffett's Berkshire Hathaway conglomerate —suggested Costco could challenge Amazon in online retail, and argued that Elon Musk's overconfidence has been critical to his success. He criticised the crypto market and supported the Chinses government for banning crypto , reported Business Insider.

 

MicroStrategy, a software development firm based in the United States, has announced yet another acquisition of Bitcoins, company has bought almost 1,500 Bitcoins between November 29 and December 8, at an average price of $57,477. The newest addition pushes the total number of Bitcoin held by MicroStrategy to 122,478 coins, acquired at an average price of $29,861 per coin, NDTV reported. 

 

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