Crypto Market Highlights April 22, 2022

Crypto Market Highlights: General News

  • Justin Sun, Founder of TRON, announced today in an open letter on Twitter that an all-new stablecoin is launching on the TRON blockchain, USDD, marking its official entry into the field of decentralized stablecoin. TRON DAO will partner with other blockchain industry leaders to establish USDD. In another open letter, Sun mentioned that a TRON DAO Reserve would be established to ensure the sustainable development of USDD.
  • NEAR has launched its USN stablecoin on testnet. Meanwhile, it appears that the buying pressure behind the token is increasing. As the network’s utility may be able to expand, the platform appears to be gaining momentum for a strong bullish impulse.
  • According to Google statistics, the term “Stepn” has been searched more than “Axie” around the world since April 16. This reversal is mainly due to the remarkable boom of the Move to Earn trend, which is led by STEPN, as well as the discredit of the famous games Axie Infinite as the notorious $622 million hack on Ronin Network.
  • Elon Musk claimed to have secured $46.5 billion in finance to purchase Twitter and is in the process of negotiating a deal with the firm. Musk made a bid to purchase the social networking business for $54.20 per share, or $43 billion, last week. Elon Musk, who owns roughly 9% of Twitter stock, would make a tender offer to other shareholders instead of going via the board. According to documents filed with the Securities and Exchange Commission, Twitter Inc., located in San Francisco, has yet to reply to Musk’s proposal.
  • Binance is limiting its services to Russian individuals or businesses with crypto assets worth more than 10,000 euros ($10,885). Accounts that come within this limitation will be placed on withdrawal-only status, according to the firm. These accounts will be unable to receive deposits or participate in trading. All spot and futures contracts, custodial wallets, staked and earned deposits, and other derivatives are also subject to the ban. Individuals and groups restricted from trading futures or derivatives will have 90 days to close their positions.
  • Coinbase announced that its NFT marketplace is currently in beta, and that “a small set of beta testers who’ll be invited based on their position” on the waitlist will be welcomed. Coinbase NFT marketplace’s primary difference will be a new “social function” that aims to increase the connection between artists and users, allowing them to build an endlessly growing community of creators. However, no official launch date has been set as of yet.
  • Binance.US is quitting the Blockchain Association, a well-known crypto lobbying group, after less than two years owing to a “difference in values, goals, and standards,” according to a source close to the firm. “Binance.US made a major investment last year in the Blockchain Association,” said the person. “Our executives recently negotiated in good faith with Blockchain Association executives in an effort to grow Binance.US’ role within the group. But after multiple conversations we ultimately determined that our values, goals and standards were not fully aligned.”
  • Crypto investors’ returns have climbed by more than 400% in only one year. Overall, investors throughout the world made gains totalling $162.7 billion in 2021, up 400.61% from $32.5 billion in 2020, according to Chainalysis. The United States was the biggest gainer in 2021, contributing $46.96 billion, or 28.86% of all gains made globally. The United Kingdom came in second with $8.16 billion (5%), followed by Germany with $5.83 billion (3.58%), Japan with $5.51 billion (3.39%), and China with $5.06 billion (3.11% ).
  • Media-Markt, Europe’s largest electronics retailer, has chosen to install Bitcoin ATMs at 12 of its stores in Austria. At Kurant vending machines, customers will be able to purchase Bitcoin. Kurant, a Coinfinity spin-off, now has 200 Bitcoin ATMs in Austria, Spain, Greece, and Germany. In 2019, one of Media-Markt’s branches began testing similar capabilities. Due to high demand, it has decided to extend it.

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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