Crypto market update
Bitcoin’s negative price movements continued today with the asset sliding below the level of $42,000 once again. The alternative coins were also harmed in the past several days. Ethereum traded above $3,400 last week before the market-wide correction started. In the past 24 hours alone, ETH has lost more than 4% and now sits at just over $3,100. As a result the crypto market cap is down by around $100 billion in a day and is just slightly above $2 trillion as of now.
Bitcoin (BTC) is now trading at 41,714 USD (all data from Coingecko.com)
Ethereum (ETH) is now for 3,128 USD
PlatonCoin (PLTC) is now for 0,432 USD
Total marketcap is currently at 2.089 trillion USD
Daily news update
Covid-19 and cryptocurrencies: According to a recent study of institutional investors and financial managers who together manage roughly $108.4 billion in assets, results revealed that since the Coronavirus epidemic started, 43% say they now have a much more positive view of cryptocurrencies, and 35% say it has improved slightly. The research commissioned by Nickel Digital Asset Management also revealed that 78% of investors currently have a favorable or constructive view of Bitcoin, with just 9% having a negative one. For Ethereum, the comparable values are 77% and 7%, respectively.
Mercedes and NFT: Mercedes has teamed up with Art2People to create an exclusive Mercedes-Benz NFT collection based on its G-Class vehicle line, according to a tweet by the luxury automobile manufacturer. Five nonfungible token (NFT) artists were commissioned to create various G-Class-inspired works in a range of media, resulting in unique designs for each artwork.
Crypto.com and unauthorized activity: Some users reported suspicious account activity in the days preceding, leading to the exchange suspending withdrawals. According to Bloomberg, tens of thousands of dollars were lost from Crypto.com accounts as a result. Blockchain security firm Peckshield claimed that losses far exceed those initially reported by Bloomberg. According to Peckshield, the hack comes in at $15 million.
Fraudulent Michal Saylor account: A Bitcoin holder has lost over a million dollars worth of the digital asset to scammers posing as Michael Saylor. The holder had lost about 26 BTC to a fake giveaway from a false account posing as MicroStrategy head and Bitcoin Evangelist Michael Saylor.
Great Britain and crypto regulation: Great Britain is aiming at regulating cryptocurrency and the DeFi industry as a whole. Regulators have also proposed to remove references to blockchain from the definition of crypto assets, but they have not clarified how. In addition to crypto assets, decentralized finances are also in the scope of regulation, but DeFi assets are going to be considered on a “case by case basis” instead of one universal regulatory framework.