Crypto market update
Bitcoin have retraced slightly today, after briefly touching the 20-day high mark of $43,000 yesterday. Currently it is hovering around $42,000, as are most altcoins, which have also mostly stalled today. PlatonCoin managed to maintain its position and thus proved once again that it is not as highly correlated to the main crypto market as most altcoins. The total crypto market cap has declined slightly since yesterday, but it’s still above $1.9 trillion.
Bitcoin (BTC) is now trading at 42,169 USD down by 1.0% in 24h
Ethereum (ETH) is now for 2,960 USD down by 1.6% in 24h
PlatonCoin (PLTC) is now for 0,680 USD no change in 24h
Total marketcap is currently at 1.993 trillion USD down by 0.6% in 24h
(all data valid at the time of publishing, from Coingecko.com)
Daily news update
Ethereum and exchanges: As Ethereum (ETH) continues to hover around $3,000 mark, the amount of ETH on cryptocurrency exchanges has dropped to levels not seen since September 2018. Namely, only 13.55 million or about 11.3% of the 120 million ETH in circulating supply is currently kept on centralized exchanges, as per the chart shared by the crypto market analytics platform CryptoRank on March 21.
Buterin and Ethereum use: “One positive aspect of the situation over the past three weeks is that it has reminded many people in the crypto market that, ultimately, the purpose of cryptocurrencies is not to play with million-dollar pictures of monkeys, it is to do things that achieve meaningful results, in the real world.” Since the start of the invasion, the Ukrainian government has received millions of dollars in donations via cryptocurrencies.
Amazon and metaverse: Amazon has launched a 3D web game where players navigate a virtual city, while helping people solve real tech problems through the cloud. It is an education tool (and sales tool) to teach people how to use its cloud services. This is Amazon’s first attempt at the virtual world of the metaverse.
WeChat and NFTs: Tthere’s a recent fear of a possible crackdown for the Chinese government on some leading internet giants and social media sites. They are WeChat and WhaleTalk. The firms are already updating their policy to restrict platforms dealing with NFTs.
New York and PoW: The members of the New York State Assembly are soon expected to vote on the moratorium on cryptocurrency mining operations that use Proof-of-Work (PoW) authentication to validate blockchain transactions, after which, if successful, the bill will be sent to the Senate for confirmation.
Thailand and crypto payment ban: In an ongoing effort to carve out a regulated crypto market for the general public, the Thailand Securities and Exchange Commission (SEC) announced a ban on the use of cryptocurrencies for payments. Parallelly, the Commission proposed a new rule that demands disclosure of service quality and IT usage information from crypto businesses including brokers, exchanges and dealers. According to the notice issued by the Thai SEC, businesses in the region have been advised against accepting crypto payments from April 2022.