Sunday, Jul 03, 2022
Outlook.com

Russian Govt. Approves Roadmap For Crypto Regulation;  Bitcoin Falls    

Russian government has approved the roadmap and will come up with crypto regulations by the end of this year. Meanwhile, the price of Bitcoin fell 0.67 per cent in the last 24 hours, while Shiba Inu was down 1.55 per cent.   

bitcoin
bitcoin

The Russian government plans to have regulations for cryptocurrencies in place by the end of the year, Coindesk quoted Russian news agency RBK, a stance that emphasizes the opposing position of the Bank of Russia, which called for a full ban on crypto trading, mining and payments, a few days ago. 

In the meantime, the price of Bitcoin was down by 0.67 per cent and was trading at $36,349.50 at 6:00 pm IST, while its dominance in the crypto market is currently at 41.99 per cent, up by 0.09 per cent in the last 24 hours. 

Ethereum (ETH) was trading at $2,378.57, with a fall of 2.88 per cent in the last 24 hours, while Binance Coin (BNB) was up by 2.15 per cent over the same period and was trading at $378.38. USD Coin (USDC) was down by 0.07 per cent to $0.9998 and Cardano (ADA) was down by 3.08 per cent to $1.02. 

Meme Coins 

Except for Samoyedcoin (SAMO)  all major meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), Dogelon Mars (ELON) have plunged in the last 24 hours. 

Dogecoin was down by 2.77 per cent while trading at $0.1386 at 6:00 pm. Rival Shiba Inu was down by 1.55 per cent and was trading at $0.00002048, Dogelon Mars fell by 5.08 per cent and was trading at $0.0000008688, while Samoyedcoin was trading at $0.02308 and recorded a rise of 16.15 per cent. 

Overall Scenario 

The global crypto market cap was $1.64 trillion, registering a decrease of 1.07 per cent in the last 24 hours, while the total crypto market volume was $82.48 billion, up by 99.90 per cent. 

Crypto Rocket Launch Plus (RKT) became the biggest gainer, recording a rise of 215.72 per cent; it was trading at $0.000003645 at 6:00 pm. On the other hand, CrazyMiner(PWR) witnessed maximum loss, falling 97.03 per cent; it was trading at $0.001711. 

Latest Update 

Reddit is testing a similar feature that would allow users to set NFTs as profile pictures, according to various media reports.  

As per Techcrunch, a Reddit spokesperson said that test is in very early stages and currently is not available to public users on the site. “At the moment we’re testing the ability to use NFTs as profile pictures (avatars) and verify ownership,” said Reddit spokesperson Tim Rathschmidt. “It’s a small, internal test and no decisions have been made about expanding or rolling out the capability. 

The Sandbox has announced a partnership with the Warner Music Group to open a new corner in The Sandbox metaverse: the first music-themed world, as per press statement. 

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