Thursday, May 26, 2022
Outlook.com

US To Have First Blockchain-Based National Stock Exchange BSTX; ETH Gains On Covid Cause

US SEC approves BSTX, a blockchain-based national stock exchange. ETH co-founder Vitalik Buterin gets $100 million of USDC to fund Covid relief.

US To Have First Blockchain-Based National Stock Exchange BSTX; ETH Gains On Covid Cause
Ethereum Concept

Boston Security Token Exchange LLC (BSTX) has received all the necessary approvals from the US Securities and Exchange Commission (SEC) for operating a blockchain-based national stock exchange in the US for the first time.


Meanwhile, the global crypto market has begun to recover from its low point a few days back. At 8.16 am, the global crypto market cap increased by 2.75 per cent at $1.70 trillion. The crypto trading volume, however, declined by 7.15 per cent at $81.35 billion, according to Coinmarketcap data.


“The recent underperformance witnessed with some altcoins and decentralized finance (DeFi) tokens implies heightened risk in crypto markets," says Gaurav Dahake, CEO and founder, Bitbns.
The price of the world’s oldest cryptocurrency, Bitcoin (BTC), increased by 1.78 per cent to $37,518.87.


Ethereum’s (ETH) co-founder, Vitalik Buterin said on Friday via a tweet that he has received $100 million worth of USDC, a blockchain stablecoin tied to the US Dollar from CovidRelief, a Covid-19 relief fund setup by Sandeep Nailwal, founder of Polygon (MATIC) blockchain. Buterin said that these funds will be used for Covid-19 vaccination R&D, air filtration systems research and many other important scientific research. Prices of Ethereum surged by 4.86 per cent to $2,529.54 in reaction to this noble cause.


Among other major coins, Cardano (ADA) was up by 0.01 per cent at $1.05. Algorand (ALGO), which is known as the Ethereum killer, was up by 3.69 per cent at $0.9671; its market cap now stands at $6,331,832,851. Binance Coin (BNB) was down by 0.66 per cent at $386.89, while Solana (SOL) was down by 0.11 per cent at $91.45 and Polkadot (DOT) was also down by 0.07 per cent at $18.32.


Today’s top gainer was YAM V2 (YAMV2), which is up by 3640.26 per cent at $194.70. The top loser was Farm Finance (FFT), which is down by 99.24 per cent at $0.0002443.
 
Meme Coins And DeFi
 
Dogecoin (DOGE) was up by 0.19 per cent at $0.142. Its volume to market cap ratio stands at 0.02569. Rival Shiba Inu (SHIB) was also up by 0.76 per cent at $0.00002131.


Dogelon Mars (ELON) was trading with a gain of 0.73 per cent at $0.0000009068. Floki Inu (FLOKI) was, however, down by 5.17 per cent at $0.00003778, while Samoyed Coin (SAMO) rallied by 22.09 per cent at $0.02571.


In the DeFi segment, YFI (yearn.finance) was trading with a gain of 0.89 per cent at $24,036.09. Terra (LUNA) was down by 5.97 per cent at $50.69, Avalanche (AVAX) was up by 2.57 per cent at $67.45, Uniswap (UNI) was up by 4.41 per cent at $10.86, while Aave (AAVE) was up by 1.55 per cent at $148.95.

Current Updates


BSTX is a joint venture between tZERO, a blockchain technology provider and Boston Options Exchange (BOX) Digital Markets. Alan Konevsky, BSTX Board Member and tZERO interim CEO and chief legal officer was quoted in a report by yahoo.com as saying, “With BOX Digital’s experience in building and operating a sophisticated securities exchange and tZERO’s industry-leading blockchain technology innovation, we have brought together our organizations’ combined expertise to drive innovation.”


The funds which Buterin received was raised from the sale of donated Shiba Inu (SHIB) tokens by Nailwal. Buterin said in the same tweet mentioned earlier that he will personally see to it that these funds grow in value by investing them in several high-risk and high-reward Covid science and relief projects worldwide. He has co-founded a new organization named ‘Balvi’ which will oversee the deployment of these funds.

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