Daily news update: November 12th, 2021

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Here you will find our daily update, which will provide you with all the main information and events on the crypto markets for the previous day.

Crypto market update

Bitcoin registered two consecutive all-time highs, with the latest coming at $69,000 on November 10th. In just a matter of hours, the asset plummeted by several thousand dollars to a daily bottom of $63,000. After that BTC bounced off and calmed around $65,000. It ranged around that level for a while before it dropped to $64,000 minutes ago, where it’s currently situated as well. Its market capitalization has remained just over $1.2 trillion, and the dominance over the altcoins stands above 43% due to the fact that most altcoins have also bled out, with massive losses coming from Solana, Cardano, Ripple, Polkadot, and more.

Bitcoin (BTC) is now trading at 64,091 USD (all data from Coingecko.com)

Ethereum (ETH) is now for 4,608 USD

PlatonCoin (PLTC) is now for 0,385 USD

Total marketcap is currently at 2.926 trillion USD

Daily news update

Bitcoin Taproot on Saturday: Bitcoin’s Taproot update is expected to occur on Saturday. The upgrade will improve Bitcoin’s privacy and programmability while making transactions faster and less expensive. Hype around Taproot may have helped Bitcoin achieve new all-time highs this week.

AMC cinema and crypto: AMC Entertainment CEO Adam Aron has announced that the cinema giant now accepts Bitcoin, Ether, Litecoin and Bitcoin Cash for ticket purchases after months of teasing.

GEN Z and crypto: 51% of generation Z and 36% of Millennials prefer cryptocurrencies for salary. According to results from a recent global survey, more than half of Gen Z (born between 1997 and 2012) and more than a third of Millennials (born between 1980 and 1996) would welcome being paid in cryptocurrencies.

Discord drops ETH: Popular community messaging app Discord has been forced to walk back its integration plans with Ethereum (ETH)-based NFTs following strong backlash from a significant number of its user base. The pushback started on Nov. 9 after Discord’s founder and CEO Jason Citron tweeted “probably nothing” accompanied by a screenshot of the app’s user settings page that displayed an ETH logo and option to connect digital wallets such as MetaMask and Wallet Connect.

Binance stopped DOGE withdrawals: Binance has temporarily suspended DOGE withdrawals after a minor issue that occurred following the Dogecoin network update. The issue appears to be related to stagnant invalid transactions.

Meta and Mana grow: Within a week of Facebook, a subsidiary of Meta Platforms announcing its name change, the tokens The Sandbox and Decentraland, both of which are tied to the metaverse, had gains of 210% and 200%, respectively. Meta (formerly Facebook) is working to create a metaverse. Although it seems that crypto and non-fungible tokens (NFTs) will play a part in it, the crypto community is not overjoyed about it.

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