Bitcoin prices remained stable and traded above the $23,000
level on Tuesday as the volumes rose significantly in the last 24 hours. The
crypto market has been surging over the past four days amid hopeful signs that
inflation soon is under control without triggering a sharp recession. Inflation
remains the key focus for investors this week. 

The global cryptocurrency market cap was at $1.13 trillion, up 0.53% in the
last 24 hours. However, the total cryptocurrency 24 hours trading volume is
$90.20 billion.

Also Read | Bitcoin logo: Who designed it, know its history

The Bitcoin fear and greed index on Tuesday, August 9,
2022, went from the fear level of 30 to the level of 42 as per the alternative.
me. The Fear and Greed index is a technique for assessing investors’ emotions
toward the market.

Bitcoin is currently trading at $23,784.20, down by 1.43%.
In the last 24 hours, the highest it touched was $24,203.69 and the lowest was
$23,701.38. Bitcoin has a current market cap of $454,791,085,633. It has a
circulating supply of 19,116,650.00 coins. BTC coins have a maximum supply of
21,000,000 coins.

Also Read | Federal Reserve rate hike impact on cryptocurrency market

US Treasury imposes sanctions on digital currency mixer
firm Tornado Cash

The US Treasury Department has banned all Americans from
using the decentralized crypto-mixing service Tornado Cash. The Office of
Foreign Assets Control (OFAC), a watchdog agency tasked with preventing
sanctions violations added Tornado Cash to its list of Specially Designated
Nationals. It is a running tally of blacklisted people, entities, and
cryptocurrency addresses. Accordingly, all US persons and entities are
prohibited from interacting with Tornado Cash or any of the Ethereum wallet
addresses linked to the protocol. Those who do may face criminal charges.

Also Read | Gold, silver and other metal prices on Tuesday, August 9, 2022

Singapore-based crypto lender Hodlnaut suspends withdrawals

Hodlnaut, a Singapore-based cryptocurrency lender and
borrower, has halted withdrawals, swaps, and deposits, the company said on
Monday, the latest signs of stress in the cryptocurrency industry.

The lender said it would withdraw its application for a
license from the Monetary Authority of Singapore (MAS) to provide digital token
payment services, for which it received in-principle approval in March.
Hodlnaut said the move was “due to recent market conditions” and was
“to focus on stabilizing our liquidity and preserving assets”.

Also Read | Top 5 cryptocurrencies of the day: Bitcoin up by 1%, Flow trends at no. 1

The company is the latest in the series of crypto players
worldwide to run into difficulties following a sharp sell-off in markets that
started in May with the collapse of two paired tokens, Luna and TerraUSD.