Friday, Aug 12, 2022
Outlook Money

UK May Soon Mint Own NFT As Rishi Sunak Pushes Technology; Cryptocurrency Market Rises

Rushi Sunak, Chancellor of the Exchequer, UK, has asked the Royal UK Mint to mint its first NFT in push to the technology. Bitcoin, Ethereum trading higher.

NFT Photo by Andrey Metelev on Unsplash

The UK government may soon mint its first non-fungible token (NFT). Rishi Sunak, Chancellor of the Exchequer, UK, has asked the Royal British Mint to make an NFT in the upcoming months. "This decision shows the the forward-looking approach we are determined to take towards cryptoassets in the UK," said a tweet from a government handle.

Meanwhile, the global crypto market cap increased by 0.45 per cent to $2.16 trillion at 8.50 am. The global crypto volume was up by 13.33 per cent to $107.22 billion, as per Coinmarketcap data. 

“Bitcoin and Ether were trading flat yesterday. Currently, the market leader is trading at $46,686.29, and Ether at $3,521.75. Other major altcoins are in the red as well. Bitcoin is witnessing a loss of upside momentum; however, support at $43,000 could stabilise the pullback,” says Gaurav Dahake, CEO and founder, Bitbns.

Cryptocurrency Prices

Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $46,633.69, higher by 1.34 per cent in the last 24 hours.

Ethereum (ETH) was also trading higher by 0.55 per cent at $3,518.41.

Among other major coins, Cardano (ADA) was up by 2.4 per cent at $1.21, but Algorand (ALGO) was trading with a loss of 4.19 per cent at $0.8825. Binance Coin (BNB) was up by 1.58 per cent at $452.46. On the other hand, Solana (SOL) was down by 2.81 per cent at $132.21, and Polkadot (DOT) was also trading lower by 0.13 per cent at $22.91.

Today’s top gainer was BNB CHAIN ALL BEST ICO (BNBALLBI), which was up by 400.38 per cent at $0.0008223. The top loser was Dotmoovs (MOOV), which was down by 35.49 per cent at $0.0281.

Meme Coin And DeFi Prices

Dogecoin (DOGE) was up by 3.66 per cent at $0.1511. Its volume to market cap ratio stands at 0.1184. Rival Shiba Inu (SHIB) was down by 0.77 per cent at $0.00002669.

Dogelon Mars (ELON) was down by 0.15 per cent at $0.000001019, and Floki Inu (FLOKI) gained 5.93 per cent at $0.00003659. Samoyed Coin (SAMO), however, lost 0.36 per cent at $0.0221. 

In the DeFi segment, YFI ( was trading with a loss of 0.61 per cent at $24,068.53. Terra (LUNA) was, however, up by 0.91 per cent to $116.16. Avalanche (AVAX) lost 1.55 per cent at $96.23, Uniswap (UNI) was down by 0.03 per cent to trade at $11.82, and Aave (AAVE) fell 1.69 per cent to trade at $237.13.

Latest Updates

John Glen, minister and economic secretary, UK Treasury, said at the Innovate Finance Global Summit, “If crypto-technologies are going to be a big part of the future, then we – the UK – want to be in, and on the ground floor. In fact, if we commit now… if we act now… we can lead the way.”
In other news, Wei Zhou, former CFO of Binance, has reportedly purchased a Philippines-based crypto wallet and exchange service provider from its Indonesian owner, Gojek. “Gojek didn’t do much with it, which was unfortunate because Coins was the leading crypto wallet in Philippines. But now, with the new management, they’ll revive that part of the business as a crypto wallet and trading platform, making it the Coinbase of Southeast Asia,” told a senior investment executive familiar with the company to TheKen, reported Coindesk.