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Central Bank of Iran is looking forward To Launch Their National Cryptocurrency As the prices of Cryptocurrencies falls

The Central Bank of Iran (CBI) has planned to launch a national digital currency in the near future, which will be designed using the Hyperledger Fabric platform, the Iranian Labor news agency reported. .

 

The platform behind the design of this currency is known as the Hyperledger Fabric platform, Iranian Labour News Agency reported. Moreover, the CBI vice Governor for IT Affairs, Mehran Moharamian, expressed that the bank considers digital currencies to be an answer for fixing irregularities and decentralizing assets, something that few countries have started to profit from as of late. Meanwhile, the rates of some of the widely consumed cryptocurrencies like Bitcoin, Ethereum, Shiba Inu Coin, and Dogecoin have continued to fall over the last few months. According to the record, the rates for Bitcoin fell by 0.61 percent, with trading at $41,639.58 at 5:00 pm. 

 

However, the dominance of Bitcoin in the crypto world lies at 40.21 percent, which makes up 0.37 percent in the last 24 hours. The case of Ethereum (ETH) was found trading at $3,111.75, with a fall of 1.72 percent as of now, while Binance Coin (BNB) was somewhere around 0.82 percent over a similar period and was exchanging at $461.85. Solana (SOL) was somewhere near 1.36 percent to $135.55, and Cardano (ADA) was somewhere 4.48 percent to $1.41. 

 

Meme coin 

As the report proceeds, the press enlightens some light on the popular meme coin-based cryptocurrency, including Dogecoin, Shiba Inu Coin, Dogelon Mars, and Samoyedcoin. These cryptocurrencies are also widely consumed all over the world. Furthermore, they are also known to show unusual gains which attracts a lot of new customers.  

 

Nevertheless, the crypto market continues to stands tall in the financial world. All this is because of significant support from the crypto community which is one of the strongest internet communities.  

Overall Scenario

The reporters conclude their article by revealing the current scenario of these currencies. The worldwide crypto market cap was $1.98 trillion, enlisting a decline of 0.55 percent, while the complete crypto market volume was $82.21 billion, up by 454%.

 

At this time, Patron (PAT) is considered the most valuable cryptocurrency in the past 24 hours . According to the media, Patron has recorded a rise of   2396.91 percent. At the same time, it indulged in various trades at $0.05617 at 5:00 pm. On the other hand, Square Token(SQUA) witnessed maximum loss, falling 99.03 percent; it traded at $12.02. 

 

Latest Update

Crypto firm BitMEX Group declared Tuesday its arrangement to acquire  Bankhaus von der Heydt, a 268-year-old private bank situated in Germany.

 

The price of the world’s first cryptocurrency, Bitcoin, has more than doubled since the beginning of this year, attracting dozens of Asian investors. 

 

Industry estimates suggest there are millions of crypto investors in countries like India and USA with total crypto holdings of around 400 billion rupees ($5.33 billion). That’s why governments here are already brainstorming ways to deploy cryptocurrencies and it’s underlying technology.

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