Cryptocurrency Prices Today August 29: Crypto market cap falls as Ether declines over 6%

moneycontrol.com:

Major cryptocurrencies were trading in red early on August 29 as the global crypto market cap declined a 1.08 percent to $957.05 billion over the last day. The total crypto market volume dropped 15.35 percent to $54.89 billion over the last 24 hours.

The total volume in DeFi stood at $4.01 billion, 7.30 percent of the total crypto market 24-hour volume. The volume of all stablecoins was at $48.92 billion, which is 89.12 percent of the total crypto market 24-hour volume.

The price of the Bitcoin hovered around Rs 16.63 lakh. Its dominance is currently 39.77 per cent, which is an increase of 0.17 percent over the day, according to CoinMarketCap.

Meanwhile, there seems to be no end to the troubles of cryptocurrency exchanges operating in India as they continue to face the ire of central government agencies and tax sleuths.

Coinswitch, one of India’s largest crypto exchanges, joined the list of beleaguered entities whose premises were searched by the agencies and tax officials earlier this week. ETtech reported on August 26 that ED searched five locations of Coinswitch.

Ashish Singhal took to Twitter - for the first time after the searches at Coinswitch Kuber in connection with its money laundering probe into the instant micro loan app scam this week - to allay the fears of investors and the crypto community alike. Read more here.