Cryptocurrencies prices today: The global crypto market cap fell 5.78 percent to USD1.24 trillion over the previous day, putting major cryptocurrencies in the red early on June 2. Over the last 24 hours, total crypto market volume fell 12.10 percent to USD97.43 billion.
DeFi's overall volume was USD7.68 billion, accounting for 7.88 percent of the total crypto market's 24 hour volume. All stable coins had a volume of USD83.73 billion, accounting for 85.94 percent of the whole crypto market's 24 hour volume.
Bitcoin is currently trading at a price of more than Rs 24 lakh. According to data from CoinMarketCap, the world's largest cryptocurrency market domination has dropped 0.32 percent to 46.01 percent in the last day.
Following the collapse of Terra Luna, which resulted in the loss of USD40 billion in investor funds, the UK government has issued a consultation document on stablecoins to address financial stability concerns. The Treasury produced a consultation document and requested evidence in January 2021 to solicit stakeholder viewpoints on the UK regulatory approach to crypto-assets and stablecoins.
In other developments, Jamie Dimon, chairman and chief executive of JPMorgan Chase & Co, compared the challenges facing the US economy to a "storm" on the horizon and asked the Federal Reserve to take decisive action to prevent the world's largest economy from entering a recession.
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