Friday, Aug 12, 2022
Outlook.com

Bitcoin, Ethereum Cool Off, Shiba Inu Continues To Climb

Bitcoin (BTC) was trading at over $48,000, down 1.36 per cent, while Ethereum was in the red zone at around $3,973 with a loss of 2.26 per cent. Shiba Inu continued to gain.

After rallying with around 5 per cent of gains yesterday, global markets cooled off today and settled with a loss of 0.47 per cent, with Bitcoin and Ethereum trading at lower levels. However, meme coin Shiba Inu continued its climb.

The global market cap in the last 24 hours was $2.29 trillion and the trading volume at $90.24 billion.

With no clear indication of Russia’s stance in the crypto segment, Vladimir Chistyukhin, deputy governor of the Bank of Russia, said last night that Russian citizens can buy and trade crypto tokens only through the medium of foreign intermediaries. “Russian citizens and businesses have the right to acquire and hold cryptocurrency, but not through the domestic infrastructure or intermediaries,” he was quoted as saying by Cointelegraph. 

Meanwhile, former US president Donald Trump said in a recent interview on Fox Business that cryptocurrencies are like a disaster waiting to happen. “I don’t want to have all these others, and that could be an explosion someday. It will make the big tech explosion look like baby stuff. I think it’s a very dangerous thing,” he was quoted as saying by bitcoin.com.

First-generation crypto tokens cooled off. Bitcoin (BTC) was trading at $48,517.92 at 8.27 am, after breaching the $49,000 mark yesterday, which indicated a decrease in price by 1.36 per cent. Rival Ethereum is also trading in the red zone at $3,973.57 with a loss of 2.26 per cent, showed coinmarketcap.com data.

Cardano (ADA) is trading with gains of 3.41 per cent at $1.34. Algorand, which is known as the Ethereum killer, was up by 1.75 per cent at $1.38; its market cap now stands at $8,727,357,523.

Among other major coins, Binance Coin (BNB) is down by 0.10 per cent at $532.58, but surprisingly the Binance-Ethereum pair is up by 2.32 per cent at 0.1345 ETH. Solana (SOL) is trading at $179.78 with a loss of 0.25 per cent.

Today’s top gainer was Coinpad (CP), which was up 907.56 per cent at $0.01825. The top loser was Spice DAO (SPICE), which saw its entire value getting eroded in the last 24 hours.

Meanwhile, the announcement regarding Terra’s integration with NEAR made the token surge by about 30 per cent, said Gaurav Dahake, chief executive officer and founder Bitbns.

Meme Coins

Dogecoin (DOGE) was trading with gains of 1.10 per cent at $0.1736. Its trading volume, however, surged by 52.05 per cent at $955,868,434.

Rival Shiba Inu rallied by 10 per cent last and even today climbed further. It is now trading at $0.00003476 with a gain of 4.12 per cent as of 8.49 am.

ELON is trading with a massive gain of 8.84 per cent at $0.00000128. Floki Inu is, however, down by 2.07 per cent at $0.0001187. Samoyed Coin (SAMO) is trading at $0.04142, which indicates a gain of 0.46 per cent in the last 24 hours.

Other Updates

Instagram’s CEO Adam Mosseri hinted at the possibility of the platform making NFTs more accessible by its users. He was quoted as saying on an Insta Story, “Nothing to announce yet, but we are definitely actively exploring NFTs and how we can make them more accessible to a wider audience,” reported the Business Insider.

The Department of Justice of the US Attorney's Office for the Southern District of California filed a civil action to return $150 million which was embezzled by an employee of Sony Life and then later converted to bitcoins to Japan’s Sony Corporation, according to a press release.

The Advertising Standards Agency (ASA) of the UK censured two advertisements which were being run by the football club Arsenal. The agency was quoted as saying that Arsenal “took advantage of consumers’ inexperience or credulity and trivialized investment in crypto-assets,” reported Sky News

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