Crypto market update
This week started with a drop of prices in the whole cryptocurrency field. The total capitalization dropped by more than $140 billion before recovering slightly. Bitcoin and most other altcoins are still in red numbers and are sliding further with several attempts for recovery, which failed. When comparing the prices with previous week, some of the alts already lost from 10% to 20%.
Bitcoin (BTC) is now trading at 47,642 USD (all data from Coingecko.com)
Ethereum (ETH) is now for 3,838 USD
PlatonCoin (PLTC) is now for 0,474 USD
Total marketcap is currently at 2.267 trillion USD
Daily news update
Bitcoin and transactions: The Bitcoin network has been breaking and setting new records in 2021. Year-to-date, the Bitcoin network has settled more than $12 trillion in transactions according to data from Coin Metrics. This record is coming on the back of a previous record in which the Bitcoin network set a new all-time high record of $31 billion in daily transactions settled.
Nike and metaverse: Sportswear manufacturer Nike announced the acquisition of virtual sneakers and collectibles brand RTFKT. Nike becomes the biggest U.S.based athletic products manufacturer through this partnership to join the metaverse bandwagon. Nike’s submission of requests for patenting the words — namesake, swoosh logo and just do it — for use online and in online virtual worlds.” The new RTFKT acquisition confirms Nike’s interest in delving into the metaverse ecosystem.
Twitch and NFTs: Justin Kan, co-founder of livestreaming platform Twitch, announced he will be launching Fractal, a new marketplace for gaming non-fungible tokens (NFTs). While the OpenSea NFT marketplace may be the largest, Fractal is not competing directly — it is betting on a niche in gaming NFTs.
Musk and Doge: According to Tesla CEO Elon Musk, the electric car manufacturer will begin accepting Dogecoin as payment for some of its merchandise. “Tesla will make some merch buyable with Doge & see how it goes,” Musk tweeted today. Dogecoin jumped over 28% within minutes of the announcement.
Tether and a new lawsuit: Stablecoin issuer Tether has been hit with a new class-action lawsuit filed by plaintiffs Matthew Anderson and Shawn Dolifka in the United States District Court for the Southern District of New York. The company is accused of “unlawful and deceptive” practices, with the plaintiffs alleging that it lied about its stablecoin being backed one-to-one by sufficient dollar reserves and “suppressed” information about failing to undergo routine audits.
Ukraine and Stellar: The Stellar Development Foundation announced today that the Stellar blockchain will be used to pilot an electronic version of the hryvnia, the national currency of Ukraine. The pilot, being carried out by FinTech firm Bitt and TASCOMBANK, will be overseen by the country’s central bank with the encouragement of the Ministry of Digital Transformation. In January, the ministry announced it had partnered with the Stellar Development Foundation, which promotes the use of XLM cryptocurrency and the Stellar blockchain, to create a central bank digital currency—something the National Bank of Ukraine had been exploring since 2017.