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Standard Chartered Bank Joins Metaverse; Bitcoin, Ethereum Fall 5%, DOGE Loses 9%

Standard Chartered Bank has jumped into the metaverse world by buying land in the Sandbox. Bitcoin, Ethereum, Dogecoin, Shiba Inu fall.

Standard Chartered Bank (Hong Kong) Limited
Standard Chartered Bank (Hong Kong) Limited

Standard Chartered Bank (Hong Kong) Limited yesterday announced a partnership with The Sandbox, a decentralised metaverse virtual world. This is for the first time that a bank has acquired virtual land in the Sandbox metaverse world.

Click here to know more about JP Morgan Bank’s lounge in Decentraland.

The world’s largest crypto exchange by volume has recovered $5.8 million of the $600 million stolen funds in the axie infinity decentralised blockchain gaming hack.

Click here to know more about the axie infinity hack.

Cryptocurrency Prices

The global crypto market cap decreased by 5.02 per cent to $1.77 trillion at 8.50 am. The global crypto volume was also down by 2.74per cent to $95.22 billion, as per Coinmarketcap data. 

Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $38,376.74, lower by 5.35 per cent in the last 24 hours. Ethereum (ETH) was also trading lower by 5.38 per cent at $2,838.36.

Among other significant coins, Cardano (ADA) was down by 5.9 per cent at $0.836, Algorand (ALGO) was trading with a loss of 5.89 per cent at $0.6603, Binance Coin (BNB) was down by 3.66 per cent at $389.06, Solana (SOL) was also trading with a loss of 3.81 per cent at $96.93, and Polkadot (DOT) was also down by 6.41 per cent at $16.87.

Today’s top gainer was CATCOIN (CATS), which was up by 1015.93 per cent at $0.00000001226. The top loser was ASIX Token (ASIX), which was down by 98.38 per cent at $0.00000001182.

Meme Coin And DeFi Prices

Dogecoin (DOGE) was down by 9.08 per cent at $0.1402. Its volume to market cap ratio stands at 0.2309. Rival Shiba Inu (SHIB) was down by 4.24 per cent at $0.00002329.

Dogelon Mars (ELON) lost 6.23 per cent to trade at $0.000001047, Floki Inu (FLOKI) also lost 10.39 per cent at $0.00002088, and Samoyed Coin (SAMO) was down by 10.25 cent at $0.01591. 

In the DeFi segment, YFI (yearn.finance) was down by 5.27 per cent at $17,638.36. Terra (LUNA) was trading with a loss of 7.87 per cent at $88.68. Avalanche (AVAX) too lost 3.7 per cent at $69.69, Uniswap (UNI) was also down by 6.54 per cent to trade at $8.16, and Aave (AAVE) too was down by 1.34 per cent to trade at $165.78.

Latest Update

Mary Huen, CEO, Standard Chartered, Hong Kong, said in a press release, “The metaverse is a vision for the next phase in the internet’s evolution, bringing new possibilities and unique experiences through the use of immersive technologies. Having acquired virtual land in Mega City, a natural choice for the Bank given its distinctive Hong Kong theme perfectly fits with our promise of strengthening our continued presence in Hong Kong, whether physical or virtual.”

In a tweet post, Changpeng Zhao, CEO, Binance, said, “The DPRK hacking group started to move their Axie Infinity stolen funds today. Part of it was made to Binance, spread across over 86 accounts. $5.8M has been recovered. We did this many times for other projects in the past too.

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