Bitcoin fell nearly 3% in the last 24 hours and is
trading below the $30,000 mark. Despite a recovery in the equity markets,
cryptos were still struggling, and altcoins were hit even more badly. The
negative news flow on the global front and Terra’s collapse are still haunting
crypto investors.

Bitcoin, which seen as the least risky of digital assets,
held some ground amid concerns about high inflation and a slowdown in the
economy. Bitcoin’s market cap has recently surged relative to other
cryptocurrencies.

Also Read | Crypto Fear and Greed Index on Friday, May 27, 2022

Markets are still shocked by the soaring inflation and
looming recession. The global cryptocurrency market cap was trading at $1.21
trillion, falling 3.62% in the last 24 hours. However, the total cryptocurrency
24 hours trading volume is $110.56 billion.

Bitcoin fear and greed index on Friday, May 27, 2022,
went from the extreme fear level of 12 to the level of 12 as per the
alternative. me. The Fear and Greed index is a technique for assessing
investors’ emotions toward the market. 

Also Read | Top 5 cryptocurrencies of the day: BTC down by 2%, STEPN trends at no. 1

Bitcoin is currently trading at $29,007.56, down by
2.24%. In the last 24 hours, the highest it touched was $29,708.31 and the
lowest was $28,261.95. Bitcoin has a current market cap of $552,607,141,803. It
has a circulating supply of 19,050,537.00. BTC coins have a maximum supply of
21,000,000 coins.

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Crypto frauds pose as journalists, NFT projects on
Twitter

Cryptocurrency scammers are using hijacked accounts on
Twitter Inc. and even posing as journalists to promote dubious cryptocurrency
platforms that once installed, enable them to compromise victims’ sensitive
data, according to a Bloomberg report. Since March, fraudsters have
impersonated journalists, crypto apps and several nonfungible token (NFT)
projects on Twitter to gain access to users’ virtual currency, usernames and
password credentials.

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Crypto tax firm CoinTracker enters the Indian market

Crypto tax firm CoinTracker on May 25 announced its entry
into the Indian market with an official product launch. This comes at a time
when the crypto industry is struggling with a 30% tax on virtual assets and
additionally will start paying 1% TDS from July 1. The company said that from
Wednesday, its tax compliance and portfolio tracking products will be available
to all crypto users across the country. While the base products will be free
and others will be charged. These offerings can be used for both centralised and
decentralised exchanges.