Daily news update: February 2nd, 2022


Crypto market update

After yesterday’s enhanced volatility again, where bitcoin tapped a ten-day high above $39,000, the asset has calmed just below that level. Most alternative coins are untypically stable on a daily scale, with ETH standing beneath $2,800. The cumulative market capitalization of all crypto assets has declined slightly since yesterday, but it’s still above $1.8 trillion.

Bitcoin (BTC) is now trading at 38,546 USD (all data from Coingecko.com)

Ethereum (ETH) is now for 2,773 USD

PlatonCoin (PLTC) is now for 0,465 USD

Total marketcap is currently at 1.857 trillion USD

Daily news update

PayPal and cryptocurrencies: Financial technology company PayPal has posted its financial results for Q4 2021, with growth slowing after strong preceding quarters. Among the highlights of the report are total payment volume (TPV), reaching $1.25 trillion in 2021, a growth of 23% in Q$ TPV, and 49 million net new active accounts. Along with Visa and others, it invested in Blockchain Capital’s $300 million fund. PayPal’s CEO has said that the financial system will change more in five years than in the past 20, which suggests the company’s focus for the future.

Coachella and NFT: The organizers of the Coachella music festival announced their entry into the NFT world with Coachella Collectibles. It is a collection of non-fungible tokens which will be redeemable for physical items and “passes for life” to the annual festival in California.

Wilder World and metaverse: Wilder World has partnered with one of the crypto industry’s leading security and hardware providers to build a home in the metaverse. In Wilder World, the Ledger team will offer their security and education hub to the photorealistic streets of the Wilder City called Wiami. As more brands, individuals and organizations jump into the metaverse, reputable crypto companies are choosing where to make their home. From Samsung in Decentraland, Enjin in Bloktopia and now Ledger in Wilder World, there is a constant influx of organizations carving out their space in the metaverse.

Jack Dorsey and Diem: Twitter founder Jack Dorsey said that Meta’s failed cryptocurrency project Diem was “wasted effort and time,” and it should have focused its efforts on “making Bitcoin more accessible for everyone.” MicroStrategy CEO Michael Saylor interviewed Dorsey on Tuesday at his company’s “Bitcoin for Corporations 2022” conference about how corporations could integrate and use Bitcoin (BTC). Dorsey said that although Facebook probably started Diem for “the right reasons,” it should’ve used an open-ended protocol like Bitcoin rather than attempting to create its own currency.

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