Last Updated : March 05, 2022 / 10:20 AM IST
Top Cryptocurrency News Today: The biggest moves in NFTs, bitcoin, crypto rules and more
A daily round-up of the most interesting articles on cryptocurrencies like Bitcoin, Ethereum, and Tether to help you jump-start the day
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Market Buzz
Cryptocurrency Prices Today : Markets in the red as BTC, ETH go downhill
The global cryptocurrency market capitalisation fell 4.49 percent over the last 24 hours to $1.75 trillion, while trading volumes declined 3.43 percent to $83.23 billion during the period. The total volume in the decentralised finance (DeFi) space stood at $14.08 billion, around 16.92 percent of the 24-hour cryptocurrency trading volume. The total volume in stablecoins stood at $69.85 billion, around 83.92 percent of the 24-hour cryptocurrency trading volume. Bitcoin’s market dominance fell 0.57 percent to 42.44 percent and it was trading at $39,047.24 on March 5 morning. In rupee terms, bitcoin declined 4.43 percent to trade at Rs 31,20,419, while ethereum fell 2.6 percent to Rs 2,09,584.5. Read more here.
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Regulation Central
Japan to Assess How Russia Can Avoid Sanctions Using Crypto
Japan’s Financial Services Agency and the Japan Virtual and Crypto Assets Exchange Association are assessing ways to block crypto transactions on Japan’s sanctions list, according to the Japan Times. The news comes after an unnamed official spoke to the local news outlet in the wake of Russia’s invasion of Ukraine, which has sparked widespread and sweeping sanctions against the Russian state and Russian interests. Japan’s Finance Minister Shunichi Suzuki told parliament, “We are closely watching the situation of settlements such as crypto assets and SPFS in order to secure the effectiveness of sanctions against Russia.” The minister was referring to Russia’s “System for Transfer of Financial Messages,” a state-equivalent to the international SWIFT system. Read more here.
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Bitcoin Buzz
Shake Shack Delivering Bitcoin With Every Burger
Burger chain Shake Shack has announced that for every purchase made with a Cash App debit card through March, it will refund customers 15 percent of the equivalent total in bitcoin. The promotion isn’t a response to patrons clamouring for crypto-with-cheese, according to CMO Jay Livingston. He told The Wall Street Journal that it’s an easy way to see whether cryptocurrency has any traction with the chain’s customers: “You’re always trying to place your bets on those things that truly will be meaningful and not waste resources on the ones that won’t.” It’s not an entirely new area for restaurants to venture into. In November, Robinhood and Burger King teamed up to give customers 1 dogecoin (trading for about 12 cents) every time they spent $5, while McDonald’s has been making NFT Big Macs that are tastier than the real thing. Read here.
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NFT Mania
Polygon Metaverse Lead: ‘Anything That Can Become an NFT Will Become an NFT’
Where do non-fungible tokens (NFTs) fit into a metaversal world? According to Brian Trunzo, metaverse lead at Polygon Studios, everywhere. “I think anything that can become an NFT will become an NFT,” Trunzo told Decrypt in an interview at ETHDenver. According to Trunzo, the path toward a world like the one in “Snow Crash” or “Ready Player One” means that “everything within those worlds will necessarily be NFTs.” Polygon Studios is working on creating NFTs, games, and metaverse projects for the eponymous Ethereum sidechain. The more popular NFTs become in the metaverse, the more the venture studio has to gain. But Trunzo is also particularly bullish on a particular segment of the metaverse: clothing. “The fashion world is a $2 trillion economy. And many thinkers, myself included, believe that digital fashion will dwarf that someday.”Read more here.
