Daily news update: February 10th, 2022

Background pattern, news

Crypto market update

After yesterday’s brief retracement, Bitcoin tested an upward movement once more and touched $44,000. Most alternative coins are slightly in the green today as well, with ETH touching $3,200. The cryptocurrency market capitalization is up by around $40 billion since yesterday. It seems that crypto markets are now moving more sideways and waiting for macro data on the inflation for January, which will influence Fed’s decision on interest rates.

Bitcoin (BTC) is now trading at 44,264 USD up by 2% in 24h

Ethereum (ETH) is now for 3,201 USD up by 3% in 24h

PlatonCoin (PLTC) is now for 0,561 USD up by 8% in 24h

Total marketcap is currently at 2.118 trillion USD up by 2% in 24h

(all data from Coingecko.com)

Daily news update

BlackRock and crypto trading: The world’s largest asset manager plans to double down on its cryptocurrency engagement by launching such trading services, asserted a new report. This comes a year after the company dipped its toes by trading bitcoin and reporting owning stocks of BTC mining companies.

Microsoft and web 3.0: World’s tech giant Microsoft Corp. is now looking to hire a Director of Blockchain Business Development to build the fundamental infrastructure for its future web 3.0. With the company’s team for Artificial Intelligence and Emerging technologies, the Job role will “lay the foundation to support and inform Microsoft’s Web 3.0 strategy.”.

Gucci and metaverse: The designer clothing brand, Gucci is the latest addition to make its mark within metaverse. According to a report by Vogue Business “Gucci will launch its own virtual world on digital real estate platform The Sandbox, as it expands its presence in the metaverse for its Gen Z-focused platform Gucci Vault.”

Binance and K-pop in metaverse: Binance will provide the executional assets around the NFT platform and surrounding technological infrastructure, while YG will supply NFT content and gaming assets. The two companies said that creating eco-friendly NFTs will be one of the primary focal points for future collaborations, with a goal of bringing K-pop stars to the metaverse.

MFUG and digital yen: Mitsubishi UFJ Financial Group, Japan’s largest financial group, is working hard to take the lead in stablecoin development, launching a proprietary stablecoin project. MUFG introduced its stablecoin platform called “Progmat Coin,” a blockchain-based system for issuing and managing stablecoins pegged on a 1:1 ratio to the Japanese yen.

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