CoinSwitch Launches Crypto Rupee Index CRE8; Solana Up 5%, Bitcoin Up 3%

Indian crypto exchange CoinSwitch on Thursday launched CRE8, a crypto rupee-based index. CRE8 gives real-time information of the Indian rupee-based crypto market, based on actual trades on CoinSwitch’s platform. It will track the performance of eight cryptocurrencies (traded on CoinSwitch).

In other news, Rain Financial, a crypto exchange in Bahrain backed by Coinbase, has reportedly laid off dozens of its employees amid global crypto market slowdown, reported Bloomberg.

The global crypto market capitalisation went up by 1.85 per cent to $1.26 trillion as of 8.50 am. However, the global crypto volume was down by 28.86 per cent to $69.27 billion, as per Coinmarketcap data.

Today, we are fixing this. I’m proud to announce the launch of CRE8, the Crypto Rupee Index. CRE8 gives you real-time info of the Indian Rupee-based Crypto market, based on actual trades on our platform. It represents 85% of the Crypto market capitalization. pic.twitter.com/I8eDLbJyco

— Ashish Singhal (@ashish343) June 2, 2022

Cryptocurrency Prices

Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $30,533.65, higher by 2.49 per cent in the last 24 hours. Ethereum (ETH) was down by 0.14 per cent to $1,831.64. 

“The market leader is trading slightly above $30,000. There’s been a brief uptrend, however the bearish sentiment remains. The risk appetite of investors is low at the moment, positive momentum on the daily charts may keep short-term buyers active. However, the long-term seems to be bending towards a bearish momentum,” says Gaurav Dahake, CEO and founder, Bitbns.

Among other significant coins, Cardano (ADA) was up by 3.7 per cent at $0.5929; Algorand (ALGO) was trading with a gain of 3.73 per cent at $0.3945, Solana (SOL) was trading with a gain of 4.47 per cent at $41.14, Polkadot (DOT) was up by 3.29 per cent at $9.80, and Binance Coin (BNB) was up by 2.28 per cent at $308.24.

Today’s top gainer was Sweet SOL (SSOL), which was up by 742.49 per cent at $0.00006565. The top loser was TrusterCoin

(TSC), which was down by 98.96 per cent at $0.000000009987. 

Meme Coin And DeFi Prices

Dogecoin (DOGE) was up by 2.13 per cent at $0.08256. Its volume to market cap ratio stands at 0.03711. Rival Shiba Inu (SHIB) was up by 2.66 per cent at $0.00001115.

Dogelon Mars (ELON) gained 2.03 per cent to trade at $0.0000004518, Floki Inu (FLOKI) gained 0.59 per cent at $0.000009167, and Samoyed Coin (SAMO) lost 0.5 per cent at $0.005644. 

In the DeFi segment, YFI (yearn.finance) was up by 1.36 per cent at $7,538.92, and Terra Classic (LUNC) was trading with a gain of 4.57 per cent at $0.0001016. Avalanche (AVAX) was up by 4.81 per cent at $24.28, Uniswap (UNI) was trading with a gain of 2.87 per cent at $5.28, and Aave (AAVE) rose by 5.62 per cent at $111.82.