After a sharp drop in the digital token market the day before, all significant cryptocurrencies were trading higher on Thursday. Recently, the digital token market has been quite unstable. At 9:30 IST, all top ten digital currencies were trading higher, with several gaining up to 5%.
Anhui Bans Crypto
Anhui, in eastern China, becomes the newest province to declare a sweeping ban on cryptocurrency mining. It claims that the measure will help alleviate a severe power deficit in the coming three years.
Regulators are concerned that the mushrooming ‘stablecoins,’ primarily dollar-pegged crypto tokens, would cause greater instability in broader financial markets than already ultra-volatile cryptocurrencies such as Bitcoin.
Zebpay Trade Desk said:
“In 2021 Q2, barring stablecoins, went to the native token of Chiliz, a blockchain services network for sports and entertainment providers. Therefore, it grew by 403 per cent in terms of market capitalization in the quarter.”
Zebpay added that after partnering with over twenty athletic groups, including FC Barcelona, Juventus, and Atletico de Madrid, the network had experienced tremendous development. Then came Polygon, formerly known as MATIC, an Indian-origin token. On the other hand, Polygon surged by 150 per cent in the same time frame.
ZebPay Launching ZEBB
Back in India, Zebpay, a local crypto exchange, will launch a SIP program that would let investors spend as little as Rs 100. Subsequently, ZebPay has launched ZEBB, new software that will provide customers with accessible SIP alternatives in Bitcoin and Ethereum.