Tuesday, Jul 05, 2022
Outlook Money

Latin American Crypto Exchange, Bitso, Lays Off 80 Employees; Bitcoin Falls

The price of Bitcoin fell by 0.59 per cent in the last 24 hours, Ethereum down by 3.50 per cent

Bitso, a Latin American cryptocurrency exchange, let off 80 staff on Thursday, according to CoinDesk.

Latin American crypto exchange, Bitso, laid off 80 employees on Thursday, the company told CoinDesk. 

“Our decisions about the people who work in our company are made on the basis of our long-term business strategy and to support our customers and our strategy as a company,” Bitso said in a statement.

Bitso, which had more than 700 employees before the layoffs, incidentally, still lists more than 60 open positions on its jobs page. 

Elsewhere, OpenSea, one of the largest NFT marketplaces, has redesigned its profile and collections pages with the goal of making the site easier to navigate and making the actual NFTs the centre of attention, The Verge reported. 

In an announcement on Thursday, the company said these redesigns are “just the start” of the company’s work to refine how its site works. 

Crypto Prices

The price of Bitcoin in the cryptocurrency market fell by 0.59 per cent in the last 24 hours, and it was trading at $28,934.52 at 4:00 pm IST. According to Coinmarketcap.com, its dominance in the crypto market is currently at 45.95 per cent, up by 0.50 per cent in the last 24 hours.

In the last 24 hours, Ethereum (ETH) was trading at $1,776.22, down by 3.50 per cent, while Binance Coin (BNB) decreased by 4.26 per cent during the same period, and was trading at $299.79. Solana (SOL) was down by 6.33 per cent to $41.49, while Cardano (ADA) was down by 5.27 per cent to $0.4623.

Meme Coins

Dogecoin was trading at $0.0779 on Coinmarketcap.com at 4:00 p.m. IST, and was down by 0.50 per cent. Its rival, Shiba Inu, was down by 5.66 per cent, and was trading at $0.00001043. Samoyedcoin was down by 7.05 per cent, and it was trading at $0.005211, while Dogelon Mars was down by 5.95 per cent, and it was trading at $0.0000004271. 

Overall Scenario

According to Coinmarketcap.com, the global crypto market cap was at $1.20 trillion, a decrease of 1.48 per cent in the last 24 hours, while the total crypto market volume was $106.00 billion, an increase of 34.37 per cent.

Bitcoin God (GOD) was the biggest gainer, gaining 208.87 per cent. It was trading at $4.93 at 4:00 pm IST, according to Coinmarketcap. In contrast, Sport Move (SPORT) witnessed the maximum loss and fell by 97.37 per cent. It was trading at $0.001189.