Thursday, Sep 29, 2022
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UK Govt Cracks Down On Misleading Crypto Advertisements; Shiba Inu Falls 

UK government plans to bring misleading crypto ads under further scrutiny. Meanwhile, Shiba Inu's price falls; Bitcoin also sees 2.46 per cent drop in price in the last 24 hours.

UK Govt Cracks Down On Crypto Ad
UK Govt Cracks Down On Crypto Ad

After Singapore, now the United Kingdom government is coming down on crypto advertisements. "Government’s plan to bring the promotion of crypto assets within the scope of financial promotions legislation. This means the promotion of qualifying crypto assets will be subject to FCA rules in line with the same high standards that other financial promotions such as stocks, shares, and insurance products are held to," says the recent notification on the official website of the government of the UK.  

The price of Bitcoin was down by 2.46 per cent and was trading at $41,799.59 at 5:30 pm, while its dominance in the crypto market is currently at 39.84 per cent, up by 0.27 per cent in the last 24 hours.

Ethereum (ETH) was trading at $3,166.05, with a fall of 3.01 per cent in the last 24 hours, while Binance Coin (BNB) was down by 3.30 per cent over the same period and was trading at $465.71. Solana (SOL) down by 3.64 per cent to $137.41 and Cardano (ADA) was down by 2.84 per cent to $1.48.

Meme Coins 

Samoyedcoin (SAMO) meme coins have fallen over 26 per cent in the last 24 hours; meanwhile, Dogecoin (DOGE), Shiba Inu (SHIB), Dogelon Mars (ELON), and Samoyedcoin (SAMO) have shown a minimal change over the same period of time. 

Dogecoin was down by 2.72 per cent while trading at $0.1651 at 5:30 pm. Rival Shiba Inu was down by 5.07 per cent and was trading at $0.00002788, Dogelon Mars fell by 4.81 per cent and was trading at $0.000001232, while Samoyedcoin was trading at $0.01805 and recorded a fall of 26.73 per cent.

Overall Scenario

The global crypto market cap was $1.99 trillion, registering a decrease of 2.83 per cent in the last 24 hours, while the total crypto market volume was $78.64 billion, up by 12.03 per cent.

PiggyBankDAO(PB) became the biggest gainer, recording a rise of 312.52 per cent; it was trading at $13.94 at 5:30 pm. On the other hand, Cryptoclans (COC) witnessed maximum loss, falling 89.96 per cent; it was trading at $0.02384.

Latest Update 

Unocoin, a crypto exchange added 5 new coins ADA, CELR, GTO, LRC and SAND to its trading platform.  

“The newly added crypto products are a revolutionary and futuristic finance concept that leverages the idea of blockchains with functions that spans across transactions of various nature. With this development, the platform now has 56 coins that our users can access," says Sathvik Vishwanath Co-Founder & CEO, Unocoin.

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