Crypto morning: Bitcoin resumes gains, Dogecoin (DOGE) jumps with Musk on Twitter, and record BTC accumulation underway

Charlie Taylor

The cryptocurrency market is still looking for a direction this Tuesday (5), but Bitcoin (BTC) manages to advance and rises 1.4% in the last 24 hours, quoted at $ 46,641, according to data from CoinGecko. Ethereum (ETH) gains 1.1% to trade at $3,517. In Brazil, Bitcoin operates with stability, down 0.1%, to R$ 215,924, according to the Bitcoin Portal Index (IPB). The two biggest cryptocurrencies had a flat session on Monday, with traders still waiting for more clues before stepping up to buy. Volumes remain below levels a few months ago, which indicates caution in the face of macroeconomic uncertainties, CoinDesk highlights. The geopolitical scenario remains in the sights of investors. The UN Security Council meets on Tuesday as the United States and Europe threaten to further isolate Russian President Vladimir Putin and demand that he be held accountable for possible war crimes committed by Russian forces on the outskirts of Kiev, according to the New York Times.

BTC Accumulation

Bitcoin is exiting exchanges at a rate in excess of 96,000 BTC per month, signaling an ongoing record accumulation, analysis by Glassnode shows. The movement is driven by both “shrimps” (with allocations below 1 BTC) and “whales” (with allocations above 1,000 BTC), as well as heavy buyers such as MicroStrategy and Luna Foundation Guard. In line with this wave, digital asset funds saw inflows for the second week in a row, totaling $180 million in the period to April 1, CoinShares report shows. Additionally, the previous week’s data was revised up from $193 million to $244 million. European funds follow the lead, having received 99% of the entries, while the Americas region attracted just US$ 1.7 million. Brazil, on the other hand, is experiencing the best moment in the cryptocurrency market, executives told Bloomberg Línea. “Startups are overcapitalized for 2022,” said Roberto Dagnoni, CEO of 2TM, the holding company that controls the Bitcoin Market, during the VC LatAm Summit, held last week.

Musk on Twitter

One news that shook altcoins on Monday was the announcement that Elon Musk, founder of Tesla, bought a 9.2% stake in Twitter, becoming the largest shareholder in the platform. Dogecoin, the billionaire’s preferred currency, rose by 10% on the news. In the last 24 hours, the token is up 5.3%, according to CoinGecko. In the opposite direction is Neutrino Dollar (USDN), a stablecoin of the WAVES ecosystem, which lost its parity against the dollar and even dropped 15% in the last 24 hours amid allegations of manipulation, according to CoinDesk. Other altcoins remain mixed on Tuesday, CoinGecko data shows: Binance Coin (+2.4%), Solana (-2.2%), Earth (+2.3%), XRP (-0.1 %), Cardano (+0.5%), Avalanche (+0.1%), Polkadot (+2%), and Shiba Inu (+1.1%).

five digits

In an article published on a blog on Friday (1), the former CEO and founder of BitMEX, Arthur Hayes, said that Ethereum could rise to $10,000 by the end of the year and that, after the upgrade process , the cryptocurrency will operate as a commodity-linked security, with an implied return. In February, Hayes pleaded guilty to violating US law preventing money laundering. According to CoinDesk, BitMEX has laid off 75 people, a move that impacts 25% of the exchange’s workforce.

Crypto Payments

The Shibata supermarket chain, from São Paulo, started to accept cryptocurrencies as a form of payment. The wibx digital currency, created by startup Wiboo, is used at the São José dos Campos (SP) unit as part of a pilot project that can be expanded to all the brand’s stores, according to Folha. The luxury brand Off-White, of the Louis Vuitton group, is also accepting cryptocurrencies as a means of payment at its main stores. Founded by designer Virgil Abloh, the brand generated revenue of US$ 7 billion in the last year, according to Exame.

Metaverse, Games and NFTs

Silvio Santos is coming: Sistema Brasileiro de Televisão completed 40 years after being founded by Senor Abravanel. In celebration, SBT launched a collection of non-fungible tokens with the most iconic moments of Abravanel, the artistic name of Silvio Santos, according to the Seu Dinheiro portal. The campaign was launched last year, when SBT produced four NFTs with different moments of Silvio Santos on open TV. The arts will be auctioned on the Bitcoin Market between this Tuesday (5) and April 8, with bids starting at R$100. de Silvio Santos”, Bruno Milanello, Bitcoin Market New Business Executive, told E-Investidor.

In space

Pharmaceutical Cimed wants to use NFTs to fund scientific studies in space. The company has just launched an autonomous virtual community, called “Fly Now Space Club”, to promote third-party space research, Valor reported. A closer look at LooksRare platform, which has quickly become the top NFT marketplace by trading volume, shows that most of the activity is actually from users selling tokens to themselves to help earn rewards in the form of more cryptocurrencies, according to to Bloomberg. despite the popularity, the NFT market is showing signs of slowing down, Reuters analysis shows. About 635,000 people bought an NFT last month, for $427 on average, according to market tracker CryptoSlam, down from about 948,000 users averaging $659 in January. And the popular play-to-earn game Axie Infinity was already losing users even before the hacking attack last week. The number of daily active users dropped 45% to 1.48 million from its November peak, according to data compiled by the game’s developer Sky Mavis and published by Bloomberg. The hacker who broke into the Ronin bridge and stole $622 million from Sky Mavis’ treasury moved millions of the hacked funds on Monday, according to data from block explorer Etherscan.

Regulation, Security and CBDCs

In the United Kingdom, the government detailed a plan on Monday to explore the potential of crypto and blockchain technology to help consumers make payments more efficiently and make the country a global hub, Reuters reported. British Finance Minister Rishi Sunak also urged the Royal Mint to issue an NFT by mid-year. In the United StatesSEC Chairman Gary Gensler said the agency is studying how to split oversight of cryptocurrency trading platforms with the country’s commodities regulator, the CFTC, as most of them include tokens that fit the definitions of securities. and commodities, CoinDesk reported. in the European Unionfinance ministers said on Monday after a meeting that the digital euro could offer greater privacy for smaller transactions but would not allow full anonymity. in singapore, the government passed a law that will tighten the rules in the cryptocurrency sector. The new legislation will require virtual asset service providers in the city-state that only do business abroad to be licensed. According to Bloomberg, Binance is among the big players to be affected by the measure, as in December it canceled the order to open an exchange in Singapore. In an interview with Valor Econômico, Juliana Facklmann, leader of regulation and product design at 2TM, said that regulation has become essential to increase demand for cryptocurrencies, as several investment funds, in Brazil and abroad, can only operate in regulated.

Click to rate this post!
[Total: 0 Average: 0]
Next Post

Di Omvärld: Sweden expels Russian diplomats and inflation protests in Peru

New technology and ultra-fast charging – now the Kia EV6 is launched in Sweden Published: 12 November 2021, 10:37 Updated: 31 March 2022, 14:58 It has been one of the most anticipated car models in recent years. And that did not make matters worse when the Kia EV6 recently won […]
Di Omvärld: Sweden expels Russian diplomats and inflation protests in Peru

Subscribe US Now