Ukraine’s deputy prime minister and Minister Of Digital Transformation, Mykhailo Fedorov, announced that the Ukrainian government has canceled a planned crypto airdrop. “Instead, we will announce NFTs (non-fungible tokens) to support Ukrainian Armed Forces soon. We DO NOT HAVE any plans to issue any fungible tokens,” he tweeted. The Ukrainian government and NGOs providing support to the military have raised $35 million, through more than 35,000 crypto asset donations since the start of the Russian invasion.
Airdrop is a method used in crypto trading. Apart from the general trading method by investing own money, often free coins or tokens are provided to users with public crypto wallets in order to promote a new virtual currency or incentivize the use of certain platforms.
Meanwhile, IMA Financial Group, a large US insurance broker and wealth management firm, is opening a research and development facility in Decentraland, the Ethereum-based virtual world where JPMorgan recently set up shop, as per Coindesk.
In the cryptocurrency market, the price of Bitcoin (BTC) was down by 1.40 per cent in the last 24 hours, while it was trading at $43,543.25 at 5:00 pm IST. Its dominance in the crypto market is currently at 43.08 per cent, up by 0.09 per cent in the last 24 hours, according to Coinmarketcap.com.
Ethereum (ETH) was trading at $2,922.72, with a fall of 2.68 per cent in the last 24 hours, while Binance Coin (BNB) fell 1.05 per cent over the same period and was trading at $408.00. Solana (SOL) was down by 3.20 per cent to $100.45 and Cardano (ADA) was down by 4.76 per cent to $0.9188.
Meme Coins
Among meme coins, Dogecoin was down by 2.14 per cent, and was trading at $0.1322 at 5:00 pm. Rival Shiba Inu was down by 4.26 per cent in the last 24 hours and was trading at $0.00002563. Dogelon Mars was down by 4.57 per cent and was trading at $0.0000008139.
Samoyedcoin, however, was trading at $0.0212, recording a rise of 0.34 per cent in the last 24 hours.
Overall Scenario
The global crypto market cap was at $1.91 trillion, registering a decrease of 1.67 per cent in the last 24 hours, while the total crypto market volume was $88.23 billion, down by 20.25 per cent.
ELEF WORLD (ELEF) became the biggest gainer, recording a rise of 1259.29 per cent. It was trading at $0.02019 at 5:00 pm, as per Coinmarketcap data. In contrast, The OBRok Token (OBROK) witnessed the maximum loss, falling 91.06 per cent; it was trading at $0.0000007997.
Read more about crypto airdrop here: https://www.outlookindia.com/website/story/business-news-all-you-need-to-know-about-crypto-airdrops/408546
