South Korean Bank To Launch Country's First Crypto Investment Fund; Bitcoin, Dogecoin Fall

Kookmin Bank, one of the largest banks of South Korea by net assets, has announced to launch crypto investment products targeted at retail investors. Alongside, the bank has formed a Digital Asset Management Committee with the aim to launch a crypto exchange-traded fund (ETF) and future products as soon as the regulation in the country allows.  

In the cryptocurrency market, the price of Bitcoin (BTC) was down by 2.15 per cent in the last 24 hours, while it was trading at $37,645.65 at 4:30 pm IST. Its dominance in the crypto market is currently at 42.13 per cent, up by 0.49 per cent in the last 24 hours, according to Coinmarketcap.com.  

Ethereum (ETH) was trading at $2,589.90, with a fall of 3.28 per cent in the last 24 hours, while Binance Coin (BNB) was trailing by 3.56 per cent over the same period and was trading at $365.90. Solana (SOL) was down by 8.02 per cent to $85.31 and Cardano (ADA) was down by 8.56 per cent to $0.8685. 

Meme Coins   

Among meme coins, Dogecoin was down by 5.90 per cent, and was trading at $0.1299 at 4:30 pm. Rival Shiba Inu was down by 6.35 per cent in the last 24 hours and was trading at $0.00002472. Dogelon Mars was down by 4.00 per cent and was trading at $0.0000007753, while Samoyedcoin was trading at $0.01976, recording a fall of 5.55 per cent in the last 24 hours.  

Overall Scenario   

The global crypto market cap was at $1.69 trillion, registering a decrease of 3.48 per cent in the last 24 hours, while the total crypto market volume was $111.10 billion, up by 69.59 per cent.  

OBRok Token (OBROK) became the biggest gainer, recording a rise of 649.96 per cent. It was trading at $0.000002931 at 4:30 pm, as per Coinmarketcap data. In contrast, Ladyminers (YTTRIUM) witnessed the maximum loss, falling 83.51 per cent, it was trading at $0.02549, shows the data in CoinMarket Cap.  

Latest Update   

5ire, the 5th generation blockchain network, announced on Tuesday that it had signed an memorandum of understanding (MoU) with the City of Alliance, Nebraska, USA. The MoU will help develop Smart and Robust Policing for the city, according to the press statement.  

"This is the central piece of action towards building a civil society that any community can take. Responsible law enforcement that simultaneously serves the public and requires accountability from officials is something that was long expected and needed in our community," Phillip Lukens, the chief of Police for the Alliance city, said at the MoU signing.