Cryptocurrency Prices Today on August 29: Bitcoin plunges by 0.5%, trades at $48,492

Cryptocurrency prices continue to be a mix of red and green on August 29. The global cryptocurrency market cap is $2.08 trillion, a 0.62 percent increase over the last day, while the total crypto market volume over the last 24 hours is $93.21 billion, which makes a 1.54 percent decrease.

The volume of all stable coins is now $71.44 billion – 76.65 percent of the total crypto market 24-hour volume. Bitcoin's price is currently $48,568.53 and its dominance is currently 43.78 percent, a decrease of 0.04 percent over the day.

Meanwhile, Cuba's government said it would recognise and regulate cryptocurrencies for payments on the island.

A resolution published in the Official Gazette said the Central Bank will set rules for such currencies and determine how to license providers of related services within Cuba.

The popularity of such currencies has grown among a technologically savvy group in Cuba as it has become harder to use dollars, in part because of toughened embargo rules imposed under former president Donald Trump.