Latest News of Cryptocurrency Prices at 6:39p.m EST on Tuesday, October 12, 2021


Moneycontrol News

Bitcoin's price is currently Rs 44,45,270 and its dominance is currently 46.5 percent, an increase of 0.93 percent over the day

October 12, 2021 / 08:16 AM IST

Cryptocurrency (Representative image)

Cryptocurrency (Representative image)

Cryptocurrency prices continue to be mostly in red on October 12. The global cryptocurrency market cap is Rs 175.02 lakh crores, a 1.09 percent decrease over the last day, while the total crypto market volume over the last 24 hours is Rs 7,89,409 crores, which makes a 7.92 percent increase.

Bitcoin's price is currently Rs 44,45,270 and its dominance is currently 46.5 percent, an increase of 0.93 percent over the day.

Cryptocurrency exchange CoinDesk has released this year’s ranking for the Top Universities for Blockchain. While its Asian schools dominate the list, European universities improve in position.

In a blog post, the crypto platform said the National University of Singapore has claimed the top spot, followed by the Royal Melbourne Institute of Technology, University of California Berkeley, University of Zurich and the Massachusetts Institute of Technology, making up the top five.

The Singapore National University gained its top spot due to its multiple blockchain research centres, frequent blockchain-themed conferences, clubs, company partnerships and its masters programme in digital financial technology.

Also, Jamie Dimon, JPMorgan Chase & Co chief executive, said on Monday at a conference that cryptocurrencies will be regulated by governments and that he personally thinks bitcoin is "worthless."

"No matter what anyone thinks about it, government is going to regulate it. They are going to regulate it for (anti-money laundering) purposes, for (Bank Secrecy Act) purposes, for tax," Dimon said, referring to banking regulations in a conversation held virtually by the Institute of International Finance.

Dimon, head of the largest U.S. bank, has been a vocal critic of the digital currency, once calling it a fraud and then later saying he regretted the statement.

This summer, JPMorgan gave wealth management clients access to cryptocurrency funds, meaning the bank's financial advisers can accept buy and sell orders from clients for five cryptocurrency products.

Stating that his views are different from those of the bank and its board, Dimon said he remains skeptical.

"I personally think that bitcoin is worthless," Dimon said. "I don't think you should smoke cigarettes either."

"Our clients are adults. They disagree. If they want to have access to buy or sell bitcoin - we can't custody it - but we can give them legitimate, as clean as possible access."

As off 7.50 am on October 12, these are the prices of largest cryptocurrencies (data from WazirX):

Binance Coin32,5500.43%

 [Input from Reuters]

RIL invests in Germany's Nexwafe as part of strategic deal for Indian market

NexWafe is a company that produces high-efficiency monocrystalline silicon wafers, a vital element in the production of semiconductors.

Reliance Industries Ltd (RIL) on October 12 said its unit Reliance New Energy Solar Limited (RNESL) has invested 25 million euros to buy new shares of Germany’s NexWafe GmbH as part of a strategic partnership for the Indian market.

RNESL has entered into an agreement with NexWafe, a company that produces high-efficiency monocrystalline silicon wafers, to acquire 86,887 series C preferred shares at 287.73 euros apiece, RIL said on October 12. RNESL will also be issued 36,201 warrants which are exercisable for a sum of 1 euro each subject to achievement of agreed milestones, the company said in an exchange filing.

Silicon wafer is a material used for producing semiconductors that are found in all types of electronic devices.

NexWafe is developing and producing monocrystalline silicon wafers grown directly from inexpensive raw materials, going directly from the gas phase to finished wafers, obviating the need for costly and energy intensive intermediate steps, according to the filing.

In a separate development, RIL announced that Reliance New Energy Solar Limited (RNESL) has partnered with Stiesdal A/S to develop and manufacture hydrogen electrolysers. RNESL has been given the licence for this, it said in an exchange filing.

Stiesdal is a Danish company that develops and commercialise technologies on climate change mitigation.

This is yet another step by RIL towards achieving the target it has set for itself of generating 100GW of renewable energy (or 22 percent of the national target) by 2030.

On October 10, Reliance New Energy Solar Ltd (RNESL) announced its acquisition of Norway-headquartered REC Solar Holdings AS (REC Group).

The acquisition is key to RIL's new-energy vision to become a global-scale photovoltaic (PV) manufacturing player, with access to heterojunction technology (HJT).

That apart, in another deal, RNESL on October 10 said it will acquire 40 percent of Sterling and Wilson Solar Ltd (SWSL), thereby underscoring the company's clean-energy ambitions.

On Tuesday, the stock of Reliance Industries (RIL) ended 0.66 percent higher at Rs 2,668.55 on the BSE.

Disclosure: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.