Tuesday, May 24, 2022
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Indonesian Financial Services Authority Warns Firms On Crypto; Bitcoin, Shiba Inu Rise    

Indonesian Financial Services Authority has warned financial firms not to offer and facilitate sales of crypto-assets. Meanwhile, the price of Bitcoin rises 7.63 per cent in the last 24 hours; while Dogecoin was up by 5.21 per cent, data of coinmarketcap.com shows. 

Indonesian Financial Services Authority Warns Firms On Crypto; Bitcoin, Shiba Inu Rise    
bitcoin

Indonesia’s Financial Services Authority, Otoritas Jasa Keuangan (OJK) on Tuesday warned that financial firms are not allowed to offer and facilitate sales of crypto-assets amidst the boom in crypto trading in Southeast Asia’s largest economy, Reuters reported.  

“OJK has strictly prohibited financial service institutions from using, marketing, and/or facilitating crypto asset trading," Reuters quoted regulator statement. 

In the meantime, the price of Bitcoin was up by 7.63 per cent and was trading at $36,334.62 at 5:30 pm IST, while its dominance in the crypto market is currently at 42.00 per cent, up by 0.36 per cent in the last 24 hours. 

Ethereum (ETH) was trading at $2,415.21, with a rise of 7.55 per cent in the last 24 hours, while Binance Coin (BNB) was up by 7.15 per cent over the same period and was trading at $370.26. Solana (SOL) up by 8.85 per cent to $91.32 and Cardano (ADA) was up by 3.92 per cent to $1.02. 

Meme Coins 

All major meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), Dogelon Mars (ELON), and Samoyedcoin (SAMO) witnessed a rise in the last 24 hours. 

Dogecoin was up by 5.21 per cent while trading at $0.1355 at 5:30 pm. Rival Shiba Inu was up by 7.15 per cent and was trading at $0.00002094, Dogelon Mars rose by 12.73 per cent and was trading at $0.0000007698, while Samoyedcoin was trading at $0.01487 and recorded a rise of 17.88 per cent. 

Overall Scenario 

The global crypto market cap was $1.64 trillion, registering an increase of 6.94 per cent in the last 24 hours, while the total crypto market volume was $118.64 billion, up by 22.81 per cent. 

Ninja Floki (NJF) became the biggest gainer, recording a rise of 1477.32 per cent; it was trading at $0.000006153 at 5:30 pm. On the other hand, Metaverse Future (METAF) witnessed maximum loss, falling 80.05 per cent; it was trading at $0.001651.  

Latest Update 

CryptoSauga Star Club (CSS), a team of NFT aficionados has announced to drop a collection of 10,000 digital artwork on WazirX NFT Marketplace.  

According to their press release, it will have 10,000 programmatically generated Bollywood stars, featuring over 150 possible traits to make them unique. The value of the digital asset will be determined by 4 seat types namely House, Box, Balcony and Stall. Different holders based on their star rarity will get additional benefits.  

“WazirX NFT provided the perfect platform to make it happen, they have been on this journey with me together and I really appreciate the whole support I have received from their team along the way," says Kunal Kamble, founder and CEO of CryptoSauga. 

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