Crypto News: Ethereum moved to PoS & concept of crypto regulation in the US
Last week, the crypto sector showed a decline, giving no reason for optimism. The current rate of bitcoin is $18,551 and Ether is fluctuating at $1,300. The global cryptocurrency market capitalization is down to $910.93 billion. Bitcoin’s dominance is currently 39.43%. The average daily total cryptocurrency market volume is $73.68 billion. The reason for this was the news, which will be discussed later.
Today’s latest news:
Ethereum successfully switched to PoS
ETH is now a blockchain on the Proof-of-Stake consensus algorithm. It’s official. Whales continued to accumulate Ethereum in anticipation of the move to PoS. According to Glassnode, the number of addresses holding more than 1,000 ETH has reached a 16-month high. It now stands at 6,453.
Tether launched the USDT Stablecoin on the Near blockchain
NEAR is a smart contract-capable blockchain designed to provide the ideal environment for dapps which is enabled by its unique scaling solution. The network just hit a milestone of 700 projects now building on NEAR, making it a great ecosystem for Tether to launch a new version of USDT. As of July, NEAR Foundation reports that the NEAR network has been used for 300,000 to 400,000 transactions per day.
Court in South Korea issues arrest warrant for Terraform Labs founder
A court in South Korea has issued an arrest warrant for the founder of Terraform Labs Do Kwon and five other people. LUNA collapsed by -32% and TERRA Classic -22% on this news.
At the end of May, the South Korean prosecutor’s office began checking Terra for signs of a pyramid scheme. The collapse of UST, supported by Terra Blockchain, began on May 8. The cryptocurrency lost its peg to the U.S. dollar after a one-time sale of tokens worth about $300 million.
The Luna Foundation Guard Reserve Fund sold billions of dollars worth of bitcoins and other cryptocurrencies to restore the token. Also, the LUNA token issue was raised to $6.9 trillion, it was offered to investors to buy at a 50% discount.
The capitalization of BUSD exceeded $20 billion
The 24 hour trading volume of Binance USD is over $5,5 billion. Binance USD (called BUSD) is a stable coin pegged to USD that has received approval from the New York State Department of Financial Services. BUSD will be available for direct purchase and redemption at a rate of 1 BUSD = 1 USD.
Briefly on other news of the week:
U.S. annual inflation slowed to 8.3% from a forecast of 8.1%
Bitcoin fell below $20,000 after the release of U.S. inflation data. Against this backdrop, immediately after the release of the U.S. inflation data, the FTX exchange hovered for about an hour.
Opera crypto browser added support for MetaMask and other crypto wallets
Now you can pick which wallet extension you want to interact with a given Dapp. Metamask,TrustWallet & more wallets available for next level Web3 browsing.
Spanish La Liga enters Decentraland meta universe
La Liga has entered into a strategic partnership with WEB3 companies Stadioplus and Vegas City Limited, to bring broadcasts, events and experiences into the metaverse
This is what the crypto news has been like this past week.
Remember: now is a golden time for you to break into the crypto world and to get all benefits of the new era trend!