Cryptocurrency update: Bitcoin, Ethereum fall marginally; XRP climbs by 9%
Most of the major cryptocurrencies traded in red in the last 24 hours, with only Tether, USD coin, Polkadot and Dogecoin showing a slight increase.
Bitcoin, the world’s largest cryptocurrency, on Thursday fell 0.58% and was trading at $39,667.24. Ethereum also dropped by 0.49% and is currently at $2,282.24. Most of the major cryptocurrencies traded in red in the last 24 hours, with only Tether, USD coin, Polkadot and Dogecoin showing a slight increase. XRP had a massive rise of 9.09% and was trading at $0.7001.
Top 10 Cryptocurrencies on July 29, 2021
| S.No | Name | Price | %Change |
| 1 | Bitcoin | $39,667.24 | -0.58 |
| 2 | Ethereum | $2,282.24 | -0.49 |
| 3 | Tether USDT | $1.00 | 0.01 |
| 4 | Binance Coin | $310.78 | -0.49 |
| 5 | Cardano | $1.27 | -0.95 |
| 6 | XRP | $0.7001 | 9.09 |
| 7 | USD Coin | $1.00 | 0.01 |
| 8 | Dogecoin | $0.2029 | -1.88 |
| 9 | Polkadot | $14.41 | 0.75 |
| 10 | Binance USD | $1.00 | 0.03 |
*All prices as of 29 July 2021, at 9:15 AM, Table Source:coinmarketcap.com
Ethereum co-founder’s crypto donation
Only $20 million has been paid out from Ethereum co-founder Vitalik Buterin’s $1 billion donation to India’s Covid Crypto relief fund.
Sandeep Nailwal, a New Delhi-based entrepreneur who founded the relief fund that received the donation said that, cashing out of an illiquid asset, complying with government regulations and getting the money to the right places has been really difficult though the amount of money is not large.
He also added that 80% of the work is already completed which includes the fund’s compliance with India’s Foreign Contribution Regulation Act that would convert the tokens into dollars and then rupees.
The Delhi-based entrepreneur has been cautious with the disbursement of fund. As of now he has paid out $20 million with another $20 million in the pipeline. He wants to make sure that the money reaches the grass-root levels, and is planning to hire a reputed audit firm to ensure transparency.
Nailwal created the fund in April, when the second wave of the Covid-19 pandemic ravaged the country with record deaths. It has made donations to organisations involved in distributing food across the country and set up 10-bed ICUs for patients suffering from severe cases in rural India. Going forward the fund would be used to manage a potential third wave of the pandemic.