Cryptocurrencies are making a move between green and red following the rise and fall of the major digital currencies such as Bitcoin and Ethereum. Meanwhile, Dogecoin shot up in the list of trending topics on Twitter after was also jumped over 26% when Tesla’s CEO Elon Musk tweeted that Dogecoin will be one of the payments options for certain merchandise purchases. There is more news on cryptocurrency updates. Let’s take a look:
Cryptocurrency prices today: Market dips marginally as BTH, ETH dip
The global cryptocurrency market capitalisation suffered by 0.12% to $2.06 million over the last 24 hours while the trading volume also plunged by 27.12% to $61.66 billion on Sunday. DeFi accounted for 16.08% of the trading volume at $9.92 billion. Stablecoins made up 78.10% at $48.16 billion. Currently, Bitcoin is trading at $42,990.42 with market dominance plunging 0.06% to 39.55%. Bitcoin suffered a downfall by 0.6% to trade at Rs 34,12,779. Ethereum plunged by 0.55% to Rs 2,63,000.1.
Rio de Janeiro eyes Treasury investment in crypto and discount for taxes paid in Bitcoin
The major of Rio de Janeiro, Eduardo Paes have promised to invest 1% of the city’s Treasury in cryptocurrency. “We are going to launch Cripto Rio and invest 1% of the Treasury in cryptocurrency,” said Paes during the Rio Innovation Week in a talk along with Miami Mayor, Francis Suarez. According to the Brazilian news outlet O Globe, Pedro Paulo, secretary for farming and planning in Rio de Janeiro, and Chicão Bulhões, secretary of economic development and innovation also intends to transform the city into the hub for the cryptocurrency industry.
Credit rating agency Moody’s Sounds Alarm on El Salvador’s Bitcoin policy
According to Moody’s Investors Service and Bloomberg, El Salvador’s poor sovereign credit outlook is being aggravated by the country’s Bitcoin trade. Moody’s analyst Jaime Reusche stated that the government trading in Bitcoin is “quite risky, particularly for a government that has been struggling with liquidity pressures in the past.”
‘Bachpan ka Pyaar’ kid Sahdev Dirdo to launch NFT collection
Arguable the youngest Indian Sahdev Dirdo is ready to make an entry into the NFT space. Sahdev Dirdo gained fame after his video clip of him singing ‘Bachpan ka Pyaar’ went viral over the internet. Indian rapper Badshah also collaborated with the kid and released a revised version of the song.
