Zipmex Looks To Raise $50 Million, Tech Mahindra Takes Up 60 Metaverse Projects

Troubled crypto exchange Zipmex aims to raise $50 million. Tech Mahindra says it's working on 60 metaverse projects globally. Meanwhile, BTC fell 4 per cent and ETH 7 per cent as global market cap fell below $1 trillion.

Outlook Money Team

Updated on: 26 July 2022 9:18 am

Singapore-based crypto exchange Zipmex, which paused all deposits and withdrawals last week, is now seeking a $50 million funding session. The platform told Bloomberg, in an email interview, that it intends to raise this fund to repair its balance sheet and restore the company.

In other news, homegrown IT company Tech Mahindra said that globally it is working on 60 metaverse projects. C.P. Gurnani, CEO and MD, Tech Mahindra, said that currently metaverse is one of their fastest growing verticals and "they are coming from edtech, retail, automotive deal management, repair and maintenance of cars. We are seeing different kinds of customer base, but it is clearly one of our fastest growing verticals,” reported Moneycontrol.

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Homegrown IT company Tech Mahindra said that globally it is working on 60 metaverse projects

Cryptocurrency Prices

The global crypto market capitalisation went down by 4.22 per cent to $967.66 billion as of 8.50 am. However, the global crypto volume was up by 18.85 per cent to $75.46 billion, according to Coinmarketcap data.

Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $21,082.55, lower by 4.05 per cent in the last 24 hours. Ethereum (ETH) was down by 6.65 per cent to $1,421.44.

Among other significant coins, Cardano (ADA) was down by 5.13 per cent at $0.4688, Algorand (ALGO) was trading with a loss of 5.14 per cent at $0.3094, Solana (SOL) was trading with a loss of 6.68 per cent at $36.18, Polkadot (DOT) was down by 5.35 per cent at $6.71, and Binance Coin (BNB) was down by 4.59 per cent at $243.89.

Today’s top gainer was Trust Wallet Token (TWT), which was up by 3.86 per cent at $0.8993. The top loser was Lido DAO (LDO), which was down by 14.63 per cent at $1.38.

Meme Coin And DeFi Prices

Dogecoin (DOGE) was down by 4.74 per cent at $0.06173. Its volume to market cap ratio stands at 0.05028. Rival Shiba Inu (SHIB) was down by 6.8 per cent at $0.00001042.

Dogelon Mars (ELON) lost 7.21 per cent to trade at $0.0000003206, Floki Inu (FLOKI) rose 6.25 per cent at $0.00001009, and Samoyed Coin (SAMO) lost 7.08 per cent at $0.009736.

In the DeFi segment, YFI (yearn.finance) was down by 2.54 per cent at $6,522.51, and Terra Classic (LUNC) was trading with a loss of 6.55 per cent at $0.00009099. Avalanche (AVAX) was down by 7.23 per cent at $20.55, Uniswap (UNI) was trading with a loss of 2.47 per cent at $6.77, and Aave (AAVE) fell by 7.55 per cent at $80.10.