Markets and news: April 8th, 2022

market, week 21, XLM

Markets

Despite continued drop on the European markets, most indices managed to end yesterday’s trading slightly higher. Crypto markets acted in correlation with financial markets and reported a recovery and slight gains as well in the morning, before turning back to red. It seems that the markets are now waiting for further news about the development of war in Ukraine and related anti-russian sanctions and their impact on global markets and are futher stressed by the rising number of Covid-19 cases in Asia.

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Bitcoin (BTC) is now trading at 42,948 USD down by 1,2% in 24h

Ethereum (ETH) is now for 3,222 USD up by 0,4% in 24h

PlatonCoin (PLTC) is now for 0,690 USD up by 0.1% in 24h

Total marketcap is currently at 2.084 trillion USD down by 1.1% in 24h

(all data valid at the time of publishing, from Coingecko.com)

News

Cardano and holders: Cardano’s ADA token has had a bearish week. The price has fallen 11.4% since Monday resulting in more holders being in the red. More significantly, ADA is now 64.7% below its September 2 all-time high of $3.09 and is in danger of falling below a dollar over the next few days should the trend continue. According to IntoTheBlock’s “in/out of the money” indicator, more than two-thirds, or 67% of ADA holders, are underwater. A quarter of Cardano investors are in the green, and 9% of them are at a breakeven point.

Mastercard and metaverse: Mastercard has submitted fifteen new trademark applications to register Mastercard, its “Circles” logo, and the “Priceless” slogan, according to a tweet sent out on April 8 by NFT tokens and metaverse trademark attorney Michael Kondoudis. A range of virtual, crypto, and financial products and services will be covered by patents filed with the United States Patent and Trademark Office on April 4, 2022.

Honduras and Bitcoin: The Próspera ZEDE economic zone in Honduras announced in a press release that it will make bitcoin a de facto currency. This is a considerable move that is only outdone by El Salvador’s decision to make bitcoin legal tender, even if the move is limited to the economic zone. In the Próspera ZEDE zone, BTC and even other cryptocurrencies will effectively serve as legal tender in the jurisdiction.

WeChat and digital yuan payments: By offering China’s digital currency in trial as a payments option in all pilot areas, payments giant WeChat Pay is paving the way for the wider adoption of the digital yuan in the world’s most advanced digital payments market. WeChat Wednesday said that users can open digital yuan wallets by registering through Tencent-backed WeBank, so they can make payments and transfer money directly within WeChat using e-CNY.

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