Saturday, Oct 08, 2022
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New York Legislature Passes Bill Limiting Cryptocurrency Mining, Bitcoin Falls

The price of Bitcoin fell 0.26 per cent in the last 24 hours, while Ethereum was up by 0.59 per cent

New York lawmakers have passed a landmark environmental bill aimed at slowing the spread of cryptocurrency mining operations that use fossil fuels.

New York lawmakers have passed a milestone environmental measure designed to put the brakes on the spread of cryptocurrency mining operations that burn fossil fuels. Both supporters and opponents say that the closely watched bill, approved early Friday by the state Senate, is the first of its kind in the US, news agency PTI reported.

Elsewhere, renowned fashion brand, Prada, has announced further expansion into Web3 with its new Timecapsule non-fungible token (NFT) collection. According to media reports, the company calls the collection gender-neutral, meaning that anyone irrespective of their gender can wear it. The fashion house also announced the creation of "Prada Crypted," a new Discord community server free to anybody who wishes to join.

According to a press release, Timecapsule NFTs will be a monthly online event for 24 hours. On the first Thursday of every month, an exclusive item will be made available on Prada’s official website in very limited quantities in selected markets.

Crypto Prices

The price of Bitcoin in the cryptocurrency market fell by 0.26 per cent in the last 24 hours, and it was trading at $29,704.65 at 4:00 pm IST. According to Coinmarketcap.com, its dominance in the crypto market is currently at 46.25 per cent, down by 0.17 per cent in the last 24 hours.

In the last 24 hours, Ethereum (ETH) was trading at $1,770.40, and it was up by 0.59 per cent, while Binance Coin (BNB) increased by 0.55 per cent during the same time period and was trading at $299.93. Solana (SOL) was up by 0.24 per cent to $0.56, while Cardano (ADA) was up by 0.13 per cent to $0.5601.

Meme Coins

At 5:00 pm IST, Dogecoin was trading at $0.08162, down 1.03 per cent on Coinmarketcap.com. Its rival, Shiba Inu, was up by 1.36 per cent, and it was trading at $0.00001084. Samoyedcoin was up by 0.12 per cent, and it was trading at $0.005538, while Dogelon Mars was up by 1.71 per cent, and it was trading at $0.0000004403.

Overall Scenario

According to Coinmarketcap.com, the global crypto market cap was at $1.22 trillion, an increase of 0.15 per cent in the last 24 hours, while the total crypto market volume was $55.44 billion, a decrease of 19.79 per cent

Boo Finance (BOOFI) was the biggest gainer, gaining 1,217.68 per cent. It was trading at $0.3273 at 5:00 pm, according to Coinmarketcap. In contrast, Revolotto (RVL) witnessed the maximum loss and fell by 92.70 per cent. It was trading at $0.001809. 
 

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