Bitcoin, Dogecoin Rise; Ethereum Slightly Falls

Bitcoin | Representative image

Cryptocurrency prices continue to be in a mix of red and green on October 18. The global cryptocurrency market cap is Rs 187.57 lakh crores, a 0.92 percent increase over the last day, while the total crypto market volume over the last 24 hours is Rs 6,49,160 crores, which makes a 6.49 percent decrease.

Bitcoin’s price is currently Rs 48,18,721  and its dominance is currently 46.85 percent, an increase of 0.43 percent over the day.

Meme cryptocurrency Shiba Inu tops the WazirX exchange in terms of volume with Tether and Bitcoin trailing behind on second and third respectively.

SHIB, the self-proclaimed “dogecoin killer”, which was created in August 2020 by someone who uses the name Ryoshi is modelled after Dogecoin. It is currently trading at Rs 0.002187, 9.03 percent higher since yesterday.

Making his way further into the NFT and cryptocurrency space, Bollywood megastar Salman Khan recently unveiled $GARI, the first-ever crypto-token launched by micro-content, short video application Chingari, along with announcing his collaboration with the app as a brand ambassador for its NFT marketplace and token reward program in a tweet.

Speaking at the occasion, he said, “The creators are shaping the future of entertainment. With the incorporation of the $GARI reward program, the creators will further get motivated to create newer and more engaging videos on the Chingari app. It’s going to be an interesting journey hereon.”

With this foray, Chingari, which currently offers customized videos, an extensive song library, hyper-realistic AR filters, and content in more than 20 languages and has around 50 million monthly active users and almost 85 million downloads to date, has reportedly become India’s first social network to issue crypto tokens.

Notably, the token will be built in partnership with the Solana blockchain. Raj Gokal, COO of Solana Labs mentioned how collective ownership of social platforms like Chingari can completely upend the creator-platform relationship globally and unlock new monetization models for creators, especially in confluence with Solana’s blockchain, which offers high throughput, low transaction fees, and more.

As off 7.50 am on October 18, these are the prices of largest cryptocurrencies (data from WazirX):

NAME PRICE (INR) 24H %
Bitcoin 48,18,721 1.22%
Ethereum 3,00,538.5 -0.15%
Tether 77.9 -0.12%
Cardano 168.62 -0.81%
Binance Coin 36,797.99 1.51%
XRP 85.6 -2.95%
Polkadot 3,349.28 1.62%
Dogecoin 18.55 0.49%