Crypto Market Updates | February 3

byZero Gravity/February 3, 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

It’s unsure if social media giant Facebook has had any effect on the crypto market. But, along with Meta’s shares (FB’s project), the global crypto market cap is down, more precisely by 4.81% in the last 24 hours and currently stands at $1.69 trillion.

This has further affected most cryptocurrencies, including Bitcoin and Ethereum. The top virtual currencies by market cap are down by more than 4%. However, despite the bearish sentiments, cryptocurrencies like Silva Token and Valentine Floki observed more than a 200% price increase in the last day.

It’s well known that when Bitcoin bleeds red, altcoins follow the rally. Decentralized Finance (DeFi) lost more than $2 billion over the last day. While MakerDAO continues to dominate the space, it is also down by 3.28%. As of writing, ninety percent of DeFi protocols are down, although Uniswap is up by 6.48%.

In the NFT market, more than $40 million were poured into both “art and collectible” and “gaming” sectors in the last 24 hours. After the addition of this sum, the weekly trading volume of NFTs is currently valued at $146.5 million.

News Around The World

Bitcoin evangelist Michael Saylor – who added a fresh batch of 660 BTC to his portfolio yesterday – said in an interview with CNBC today that “clear crypto regulations would speed institutional adoption.” The comment comes in response to U.S. Securities and Exchange Commission Chairman Gary Gensler’s plan to create and enact rules for cryptocurrency markets.

The crypto regulation market has added another African country Botswana, which passed a bill yesterday to regulate the trading of cryptocurrencies. Bloomberg reports that the legalization of cryptos and digital tokens is the country’s effort to strengthen its policies on anti-money laundering (AML). Botswana’s PM, Peggy Serame has, in fact, confirmed the news.

Contrary to the Bank of Russia’s stance against cryptos, Russian Minister of Finance Anton Siluanov suggests regulating cryptocurrencies through banks rather than banning them. However, he agrees with the central bank that cryptocurrencies should not be used as legal tender in the country.

What’s Hot In DeFi

Wormhole is the hottest project in the news today as hackers steal over $320 million worth of funds. The platform confirmed the hack in a series of tweets that over 120,000 wETH tokens were stolen and that they have shut down the network to look for a potential exploit.

However, their latest tweet suggests they have dispatched the vulnerability and are working to get the network up again.

The tax agency of the UK, Her Majesty’s Revenue and Customs (HMRC) updated their guidelines on the taxation of returns from DeFi protocols. The guidance suggests that the taxable amount will be calculated on whether the return is considered capital or revenue. However, it’s a complicated process, as the HMRC itself admits.

Buzz Around NFTs

The gaming retail giant GameStop partners with Immutable X as it taps into the NFT market by launching an NFT marketplace. Both platforms also announced the launch of a $100 million fund to support the Web 3 gaming ecosystem. Earlier, GameStop has partnered with Trace and Cool Effect to reduce the carbon footprint for minting NFTs.

Remember the Asian couple who decided to get married in Metaverse? They are all set to host their Hogwarts-themed virtual wedding in Metaverse on Feb 6th. Their wedding NFT collection is being launched by GuardianLink.io on its marketplace platform, Beyondlife.Club. This NFT collection will have twelve NFTs.

In a Q&A session yesterday, Nintendo expressed interest in the NFTs and Metaverse but wondered what joy they could bring to the community. However, after a while, he cleared that his answer is directed towards Metaverse and not NFTs.

Airdrops and Freebies

A Japanese Metaverse company Torekko is offering an exclusive collection of NFTs. In order to receive the airdrop, a user must have more than 5,000 Torekko ($TRK) tokens in their wallets. Every holder will get a 1st edition Torekko original NFT, which will be directly airdropped to the wallet address.

Sun Crypto, a cryptocurrency designed to enhance the DeFi sector, is distributing Baby DogeCoin tokens worth $40,000. Anyone can participate in the airdrop with a minimum trade of $34 from the 1st of Feb to the 28th of Feb 2022. Learn more about the eligibility criteria on their official page.

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.

News

Twitter

Zero Gravity Crypto Follow 399 349

Bringing mainstream adoption to Cryptocurrency with tutorials, news, insights, tips and warnings. Full consultancy and management services available.

Retweet on Twitter Zero Gravity Crypto Retweeted

; 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

Retweet on Twitter Zero Gravity Crypto Retweeted

; 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

Reply on Twitter 1652281882002718720 Retweet on Twitter 1652281882002718720 3 Like on Twitter 1652281882002718720 6 Twitter 1652281882002718720

Retweet on Twitter Zero Gravity Crypto Retweeted

; 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

Reply on Twitter 1649391607798480897 Retweet on Twitter 1649391607798480897 14 Like on Twitter 1649391607798480897 18 Twitter 1649391607798480897

Retweet on Twitter Zero Gravity Crypto Retweeted

; Drunken Monkey Members Club @DrunkenMonkey ·

21 Apr 1649384569567625216

Reply on Twitter 1649384569567625216 Retweet on Twitter 1649384569567625216 7 Like on Twitter 1649384569567625216 12 Twitter 1649384569567625216

Retweet on Twitter Zero Gravity Crypto Retweeted

; 🐒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

Reply on Twitter 1647998662629261312 Retweet on Twitter 1647998662629261312 9 Like on Twitter 1647998662629261312 15 Twitter 1647998662629261312

Retweet on Twitter Zero Gravity Crypto Retweeted

; 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 🚀

Reply on Twitter 1647705698040414212 Retweet on Twitter 1647705698040414212 2 Like on Twitter 1647705698040414212 3 Twitter 1647705698040414212

Retweet on Twitter Zero Gravity Crypto Retweeted

; 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

Reply on Twitter 1643345006214762502 Retweet on Twitter 1643345006214762502 6 Like on Twitter 1643345006214762502 16 Twitter 1643345006214762502

Retweet on Twitter Zero Gravity Crypto Retweeted

; Pomp 🌪 @APompliano ·

1 Apr 1642261068012564482

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

Reply on Twitter 1642261068012564482 Retweet on Twitter 1642261068012564482 104 Like on Twitter 1642261068012564482 671 Twitter 1642261068012564482

Retweet on Twitter Zero Gravity Crypto Retweeted

; The Founding Monkey @Gav_Berry ·

1 Apr 1642217548966969344

Your typical #Crypto #FuckedBoy

Tag a friend… 🫴🏼

Reply on Twitter 1642217548966969344 Retweet on Twitter 1642217548966969344 2 Like on Twitter 1642217548966969344 7 Twitter 1642217548966969344

Retweet on Twitter Zero Gravity Crypto Retweeted

; 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

Reply on Twitter 1642209366043492362 Retweet on Twitter 1642209366043492362 4 Like on Twitter 1642209366043492362 10 Twitter 1642209366043492362

Crypto Prices

Bitcoin

$27,158.97

BTC 0.20%

Ethereum

$1,903.61

ETH 0.60%

Binance Coin

$305.90

BNB -0.42%

Cardano

$0.38

ADA 0.08%

Dogecoin

$0.07

DOGE 0.42%

XRP

$0.52

XRP 1.71%

Polkadot

$5.29

DOT 0.23%

Uniswap Protocol Token

$5.07

UNI -0.14%

Solana

$21.14

SOL -0.24%

0 replies

Want to join the discussion?
Feel free to contribute!

Crypto Market Updates | February 3

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 World

What’s Hot In DeFi

Buzz Around NFTs

Airdrops and Freebies

Crypto Market Analysis and Updates | March 15-18

Most (Less) Common Crypto Novice Mistakes

Top Crypto Market Updates | March 12-14

Top Crypto Market Updates | March 08-10

Top Crypto Market Updates | March 05-07

Active Whitelisting and Airdrop Opportunities – March 5

Top Crypto Market Updates | March 03-04

A Comprehensive Analysis of Bitcoin and Ethereum

Top Crypto Market Updates – Feb 26- Feb 28

News

Twitter

Crypto Prices

Leave a Reply

Leave a Reply Cancel reply

Useful Links

Contact Details

Crypto Market Updates | February 3

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 World

What’s Hot In DeFi

Buzz Around NFTs

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