Bitcoin prices plunged over 9% and traded below the
25,000 mark on Friday as a part of broader declines in cryptocurrencies after a
sharp rise in US inflation triggered risk-off sentiment. The digital token is
down over 35% so far this year, and trading over 50% below its record high of
$69,000 it had hit in November 2021.

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The global cryptocurrency market cap was at $1.01
trillion, down 8.50% in the last 24 hours. However, the total cryptocurrency 24
hours trading volume is $109.73 billion. Traders are anticipating a more
aggressive pace of interest rate hikes from the US Federal Reserve after data
showed US inflation jumped to a fresh 40-year high in May, reported Bloomberg,
which triggered a selloff in risk assets including crypto and stocks.
Cryptocurrency prices have been in a slump this year as the Federal Reserve
withdraws stimulus and hikes rates to combat inflation.

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Bitcoin fear and greed index on Monday, June 13, 2022,
went from the extreme fear level of 14 to the level of 11 as per the
alternative. me. The Fear and Greed index is a technique for assessing
investors’ emotions toward the market.  

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Bitcoin is currently trading at $24,722.99, down by
10.52%. In the last 24 hours, the highest it touched was $28,240.92 and the
lowest was $24,685.36. Bitcoin has a current market cap of $472,097,155,027. It
has a circulating supply of 19,066,137.00. BTC coins have a maximum supply of
21,000,000 coins.

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Jack Dorsey announces ‘Web 5’, a new platform built on
Bitcoin blockchain

Former Twitter CEO and Block Head Jack Dorsey have
announced a new platform on the social media platform – Web 5. A new
combination of Web 3 and Web 2, Web 5 will be powered by Bitcoin. “This will
likely be our most important contribution to the internet,” Dorsey tweeted.

Web5 is developed by TBD, a Bitcoin-focused subsidiary of
Dorsey’s Block. The company said on its website that the new platform will
solve the problem of securing personal data.

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Mastercard adds The Sandbox, Nifty Gateway, and Mintable
to the ‘Simple’ NFT purchase scheme

Mastercard has announced that it is collaborating with
several non-fungible token (NFT) marketplaces to “bring its payments network to
Web3,” making it possible to purchase NFTs with its debit and credit cards.
According to a blog, the NFT market places partnering with Mastercard include
Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway and
Web3 infrastructure provided MoonPay. The integration will enable users to
purchase NFTs in an “easier and safer” manner by using their cards, rather than
crypto, to complete the transaction.