Crypto Market Highlights April 11, 2022
Crypto Market Highlights: General News
- The Terra (LUNA) project and the Luna Foundation Gaurd purchased 4,130 bitcoin valued at $176.1 million on Sunday, April 10, 2022. LFG currently possesses a total of 39,897.98 bitcoin, valued at about $1.7 billion.
- Elon Musk, in a series of tweets published yesterday, offered a few suggestions for how Twitter Blue may be improved. The Tesla CEO feels that the subscription fee should be cut to $2 per month (“paid 12 months upfront”), that there should be no advertisements, and that Twitter should consider accepting Dogecoin ($DOGE) as payment.
- XRP Ledger (XRPL) is seeing tremendous demand for its NFT hosting ecosystem, months after Ripple launched its NFT-focused “Creator Fund”. Ripple announced that it had seen “incredible momentum and exciting NFT use cases come to life on the XRPL” with a list of leading creators joining its NFT ecosystem which is focused on bringing tokenized projects, the metaverse, gaming, and art to life. Ripple’s creator fund is a $250 million commitment to support creators by providing them with the necessary tools, financial support, and partnerships to kick-start their projects on XRPL.
- Coinbase has stopped payment services through United Payments Interface (UPI) on its platform for Indian users just three days after its launch in the South Asian subcontinent. The UPI is the payment portal governed by the National Payment Corporation of India (NPCI), which facilitates buy orders on Coinbase’s India services. The exchange has already updated its payment method information on its website for Indian users, which urges users to try Immediate Payment Service (IMP) to place sell orders.
- South Korean president-elect Yoon Suk-yeol is reportedly working with financial authorities to regulate security token offerings (STOs) and initial exchange offerings (IEOs). The Financial Services Commission proposed amending the Capital Markets Act to include STOs, while mulling whether such financial products will be offered on traditional exchanges or cryptocurrency service providers.
- Shibburn, a crypto burn tracker, has indicated that a large amount of SHIB tokens — 1,351,643,000 meme tokens – has been taken out of circulation on April 8. The value of this quantity of meme coins is $32,155. Three transactions burnt more than 100 million coins, while three others each shifted 210 million to 270 million tokens to a dead-end wallet. Despite regular token burning, the meme token price has been unable to rebound from its all-time high of $0.00008845 achieved in late October.
- According to statistics completed by The Block, cryptocurrency exchange traffic climbed to 360 million visits in March. Following February’s 339.4 million visits, this statistic marks a 6.1% rise month over month. Both spot and futures trading marketplaces are included in the numbers. For the fourth month in a row, ByBit, a cryptocurrency exchange with a 24-hour trading volume of about $10 billion, was ranked third. With first and second place, Binance and Coinbase are still in the lead.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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