Crypto News: New card from Binance & stablecoin amplification
Last week, the cryptocurrency market showed multidirectional movement. Prices of major cryptocurrencies and altcoins remained virtually unchanged. The current rate of bitcoin is $19,765 and Ether is fluctuating at $1,564. The global cryptocurrency market capitalization is $977.04 billion. Bitcoin’s dominance is currently 38.74%. The average daily total cryptocurrency market volume is $50.68 billion.
Today’s latest news:
Mastercard and Binance launch cryptocurrency payment card
Mastercard intends to partner with global cryptocurrency exchange Binance to launch a cryptocurrency payment card that will support 14 crypto-assets, including USDT, BNB, BTC, BNB, ETH, ADA and XRP
The card will be linked to Binance user accounts. Consequently, when customers use the card, payments for goods and services are taken from their crypto holdings in Binance. Consumers can use the card on all merchant sites that accept Mastercard (over 90 million stores).
LG plans to launch its cryptocurrency wallet “Wallypto”
It is reported that the application is now in the final stage of beta testing. Initially tokens on the Hedera blockchain will be supported, with support for more networks expected after the launch. The company has already interacted with the crypto space. Previously, it announced the integration of the NFT platform into its line of TVs.
Crypto.com declined its $500 million sponsorship of the UEFA Champions League
The exchange changed its mind to fund the international soccer tournament at the last moment. Cryptocurrency exchange Crypto.com at the last moment refused from the sponsorship deal with UEFA Champions League, writes SportBusiness edition. The contract was to fund the tournament for 5 seasons for a total of about $500 million – about $100 million a year, according to the media. Crypto.com sponsors many sporting events. These include the FIFA World Cup. The company also signed a 10-year partnership agreement with the UFC mixed martial arts promotion for $175 million.
LUNC token went up 210% in two weeks
The price of LUNC token grew while the leading cryptocurrencies bitcoin and Ethereum, and with them other major altcoins, became cheaper. This jump in the price of Terra Classic (LUNC token) is due to the implementation of a burn mechanism – 100 million coins have been withdrawn from circulation in the last 48 hours, as well as an update that restored stacking.
Stablecoin transaction volume up nearly 33% in August
Adjusted transaction volume in stablecoin rose sharply in August. It rose 32.9% last month, from $655.2 billion to a new all-time high of $866.2 billion. According to a report by The Block Research, the increase is likely due to sanctions against Tornado Cash by the U.S. Treasury Department. After the sanctions, the rate of stablecoin increased for DAI, USDC, and USDT – all other stablecoins slowed.
Briefly on other news of the week:
By the end of August BTC fell by 13.88%, and the price of ETH collapsed by 7.33%
September is historically one of the worst months for BTC
Coinbase lists NEAR and AURORA
Coinbase will add support for Near Protocol (NEAR) on the NEAR network. Also Coinbase will add support for MXC and AURORA on the Ethereum network (ERC-20 token).
Meta has integrated NFT into Facebook
Mark Zuckerberg’s company continues to implement digital tokens: they can now be simultaneously uploaded to the largest social network and Instagram
This is what the crypto news has been like this past week.
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