Today’s Crypto Market Updates | February 2

byZero Gravity/February 2, 2022/inCrypto Market Updates, Crypto News

A daily round-up of the most interesting news stories on the cryptocurrency market- and its sub-sectors like DeFi and NFT.

The Market

Although not much change was seen in the crypto market today, it’s still up by 0.38% from the last day as the global market cap reaches $1.78 trillion. However, the trading volume took a dip by 12.20% in the last 24 hours.

While the world’s first cryptocurrency Bitcoin observed various ups and downs today, it is still down by a mere 0.01% as of writing.

Ethereum, however, is up by a small percentage of 0.03, signaling an overall positive sentiment around the crypto community. Today, the top gainers were Dodge Rise Up (420.73%) and Graft (417.3%).

Similar to the global crypto market, DeFi was also seen in the green today as the TVL in different protocols reached $80.89 billion. MakerDAO, in particular, was dominating over other protocols with over $16 billion of TVL locked.

It was good for several DeFi protocols except Yearn Finance, which is down by 10.38% in the last 24 hours. Another application of blockchain, the NFT market is on a run today as the weekly trading volume goes above 100 million mark today.

News Around The Globe

After India announces taxation on virtual currencies, the Finance Minister of the country said today that the crypto bill is still undergoing consultation. However, she cleared that the new law cryptocurrencies are now legal because they are taxed like gambling wins. Later on, expressing his views on the state of cryptocurrencies, Financial secretary, Somanathan, later commented:

““Bitcoin, Ethereum or NFT will never become legal tender. Crypto assets are assets whose value will be determined between two people. You can buy gold, diamond, crypto, but that will have not have the value authorization by government,”

In another part of India, a local cap has been accused of kidnapping a crypto trader and demanding a ransom of about $40 million. The accused has been arrested by the police along with his seven co-conspirators.

Columbian tax authorities have started tightening the screw on crypto users that are avoiding tax. The DIAN ( (Dirección de Impuestos y Aduanas Nacionales de Colombia) has released a statement that it has initiated actions to control the taxpayers who carry out cryptocurrency operations.

Buzz Around DeFi

DeFi projects might face the wrath of new rules being proposed by the SEC, as per Hester Peirce – an SEC commissioner who is famous by the name “Crypto Mom”. As per a Bloomberg article, she said the proposal includes additional regulations to be imposed on firms that deal with decentralized finance.

The biggest price gainers of DeFi in the last 24 hours are bZxHQ (BZRX) and idexio (IDEX) while FerrumNetwork (FRM) and Orion Protocol (ORN) are down. However, despite the good day for DeFi, the daily trading volume took a hit and is down by 24.5% from yesterday.

In the last 24 hours, various DeFi projects entered into strategic partnerships. For example, YuklaSwap partnered with EchangyExchange, CeloLaunch partnered with AppPlayPad, and EasyFiNetwork partnered with Rocketexchange. Some projects also introduced new protocols, like LiberoFinancial added Libero auto staking protocol and Unilab Network and ZKPartner are launching a staking program.

NFTs in The News

Bashing NFTs and cryptocurrencies, Financial Secretary of Indian Finance Minister, Somanathan has said that non-fungible tokens along with cryptocurrencies will never be considered legal tender. It means they won’t ever be considered similar to the country’s native currency, INR.

CoinDesk, a renowned crypto publication, launched a new animated series and podcast called “NFT All Stars”, which will spotlight some of the popular crypto influencers and thought leaders. The series will be hosted by Marguerite deCourcelle (also known as Coin Artist) and Jason Bailey.

A report by Decrypt reveals that OpenSea, the NFT marketplace, generated more than $5 billion in trading volume in January. Data from Dune Analytics shows that the platform had $4.95 billion of Ethereum and $79 milion of Polygon trading volume.

Coachella Valley Music and Arts Festival, an annual music and arts festival, is selling lifetime passes as NFTs on cryptocurrency exchange FTX. They are offering 10 NTFs that grant a lifetime access to their event.

Airdrops and Freebies

Humswap, a DeFi platform completed the airdrop of 2,596 Ant NFTs (ANS) and Ant Perpetuity NFTs (ANC) today. The airdrop was given to anyone who had held at least one Humswap BOWL and one Neoverse series at the time of participation.

EYWA, a cross-chain liquidity and data protocol, is offering unique NFTs to users who participate in their Alpha test challenge, which consists of a few steps. It includes completing a few tasks on Telegram for points, which can be exchanged to collect unique collectible NFTs.

R-DAO, a decentralized autonomous organization of the R-Planet metaverse, is distributing its RDAO tokens in an airdrop due tomorrow i.e., Thursday, February 3rd. Players with at least 100 crafts at the moment of snapshot (on October 25th) are eligible for the event.

Disclaimer:

The information discussed here is not financial advice. This is for educational and informational purposes only. DYOR before making any investments and consult your financial advisor. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.

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; Cointelegraph @Cointelegraph ·

8 May 1655644988175437824

According to a report from The Wall Street Journal, Chinese companies are studying methods to develop AI via weaker semiconductors and combinations of chips to bypass reliance on a single type of hardware.

Reply on Twitter 1655644988175437824 Retweet on Twitter 1655644988175437824 3 Like on Twitter 1655644988175437824 19 Twitter 1655644988175437824

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; The Founding Monkey @Gav_Berry ·

29 Apr 1652281882002718720

People seem to be forgetting that BTC.D generally increases in a bear market not a bull market.

In bull markets Alts out-perform #bitcoin and in bear market Alts capitulate harder than #Bitcoin

Don’t be so sure that an explosion on BTC.D means an explosion for #Bitcoin

99.9%… https://twitter.com/i/web/status/1652281882002718720

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; Drunken Monkey Members Club @DrunkenMonkey ·

21 Apr 1649391607798480897

Research shows that only a few #NFT projects will survive, those with Utility and those that are building vigorously throughout the Bear Market.

Fortunately we very much tick both of these boxes.

#Crypto Twitter, you have been warned on multiple occasions.

Tag your friends… https://twitter.com/i/web/status/1649391607798480897

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; Drunken Monkey Members Club @DrunkenMonkey ·

21 Apr 1649384569567625216

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; 🐒The Social Monkey🐒 @G_DMMC_83 ·

17 Apr 1647998662629261312

@crypto_bitlord7 @Gav_Berry is a 💎

Never fade @DrunkenMonkey

Very big things are already here, not all professionals are aware of the services owning a membership has.

Yet

I’m surprised you don’t own a few digital assets to be fair bro

🌍 http://www.drunkenmonkeyclub.com

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; The Founding Monkey @Gav_Berry ·

16 Apr 1647705698040414212

As this bear-market rally finally comes to a close, we have one last episode, and that is the bear market Alt season…

Stables > #Bitcoin > #Ethereum #Altcoins > Stables….

Remember the pattern…

Tight stop-losses, Let’s go 🚀

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; The Founding Monkey @Gav_Berry ·

4 Apr 1643345006214762502

ETH 2.0 Shanghai upgrade (Thread)

Liquidity Staking Derivatives (LSDs)

Here is the story - (1)

Most will be aware of the #ETH 2.0 and the #Shanghai upgrade which comes to fruition on April 12th. 18 million ETH will become unlocked on April 12th, will this cause a sell-off?… https://twitter.com/i/web/status/1643345006214762502

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; Pomp 🌪 @APompliano ·

1 Apr 1642261068012564482

True entrepreneurs can figure out how to make money in any industry

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; The Founding Monkey @Gav_Berry ·

1 Apr 1642217548966969344

Your typical #Crypto #FuckedBoy

Tag a friend… 🫴🏼

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; The Founding Monkey @Gav_Berry ·

1 Apr 1642209366043492362

The last time #Bitcoin tested the $29,000 resistance level on quarterly closing was Q4 2020.

The last time USDT.D had a bearish engulfing quarterly candle, taking out the 2 previous quarters, was (you guessed it) Q4 2020.

On both occasions this USDT.D bearish engulfing candle… https://twitter.com/i/web/status/1642209366043492362

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Crypto Prices

Bitcoin

$27,147.99

BTC 0.04%

Ethereum

$1,903.75

ETH 0.44%

Binance Coin

$306.30

BNB -0.33%

Cardano

$0.38

ADA 0.21%

Dogecoin

$0.07

DOGE 0.49%

XRP

$0.52

XRP 1.55%

Polkadot

$5.29

DOT 0.38%

Uniswap Protocol Token

$5.08

UNI 0.14%

Solana

$21.19

SOL -0.28%

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Today’s Crypto Market Updates | February 2

A daily round-up of the most interesting news stories on the cryptocurrency market- and its sub-sectors like DeFi and NFT.

The Market

News Around The Globe

Buzz Around DeFi

NFTs in The News

Airdrops and Freebies

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A Comprehensive Analysis of Bitcoin and Ethereum

Top Crypto Market Updates – Feb 26- Feb 28

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Today’s Crypto Market Updates | February 2

A daily round-up of the most interesting news stories on the cryptocurrency market- and its sub-sectors like DeFi and NFT.

The Market

News Around The Globe

Buzz Around DeFi

NFTs in The News

Airdrops and Freebies

Share this article

Share this article

News

Twitter

Crypto Prices

Leave a Reply

Leave a Reply Cancel reply

Useful Links

Contact Details