Today’s Crypto Market Updates | February 1

Top-Crypto-Market-Updates-February-1-2022-2

byZero Gravity/February 1, 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

Today is a green day for the market. The total market cap of cryptocurrencies is up by 5.37% over the last day and is currently standing at $1.77 trillion, while there has been a 19.45% increase in the total market volume. Bitcoin, the pied piper of all cryptocurrencies, is up by 4.06% at $38,576. The second-largest cryptocurrency, Ethereum is standing at $2.777.25 – up by 14.17% as of the time of writing. The top gainers for today are Wall Street Capital and GLOWV2 which are up by 1580% and 1364% respectively.

The DeFi market continues to rise with TVL reaching $80.46 billion. All the major DeFi protocols including Curve Finance, MakerDAO, Aave, and Uniswap are making green candles on their charts. However, InstaDapp, Balancer, and a few others are down by a small percentage.

The NFT hype is probably cooling off. In the past 24-hours, the market has had a trading volume of $38.64 million. Looking at the graph of weekly NFT sales, it is evident that both “art and collectibles” and “gaming” NFTs are making a progress, although not as much as other previous weeks.

News Around The World

Cryptos have gotten an entry into the Indian market; from the backdoor though! Today, while revealing the budget for 2022, the country’s finance minister, Nirmala Sitharaman, announced a 30% tax on all kinds of virtual assets, including cryptocurrencies. The country has an on and off relationship with crypto, which finally has come to an end. Along with that, the FM announced that the central bank of India, RBI, is working on a CBDC that is expected to be fully launched in 2023.

Ukraine, the country that recently legalized virtual financial assets in the hope to attract a global clientele base, may now be not a good option for investors due to the 100,000 Russian troops that have amassed the country, icing out the country’s ambitious crypto-related plans. Cofounder of NEAR Protocol, Illia Polosukhin, has commented that the border tension is increasing the risk that isn’t very safe for people.

On the other side of the world, Nayib Bukele, the president of El Salvador has predicted that there will be a “gigantic price rise” for Bitcoin.

Buzz Around DeFi

Orion Protocol, xx, has launched OrionBridge – the first peer-to-peer atomic swap bridge that allows cross-exchange liquidity aggregation without any limit.

Wonderland, a Defi protocol, announced that the development will continue after it was found that a convict was serving as the treasury manager of the ecosystem. Michael Patryn, who goes by the pseudonym 0xSifu has pleaded guilty to charges of fraud in the past. In a community vote, 55% of the voters were in favor of continuing the community while 45% said they don’t want to continue. The founder wanted to shut down the project, but changed his mind eventually:

Growth DeFi, a Defi protocol, has launched the staking of veGRO and MOR tokens. Users can now earn rewards on Avalanche and BSC as well as their native MOR stablecoin.

NFT Round-Up

Along with cryptocurrencies, NFTs will be liable to 30% tax as per the new guidelines by the Indian government. This includes all kinds of digital collectibles, including gaming, art, real-estate, and other forms of NFTs.

Lending protocol Arcade has stepped into the NFT space by introducing Pawn Protocol in a bid to bring liquidity to the NFT market. As per the company, it has more than $15 million locked in blue-chip NFTs. Along with Arcade, a leading media conglomerate, ViaCom18 has also entered the NFT space with its NFT marketplace called Fullyfaltoonft, which has been set up by a popular innovator of NFT Technologies.

However, not everyone is a fan of NFTs. Kanye West, a popular rapper, goes ballistic on NFTs, saying that he makes music for the real world. Looks like he has no upcoming plans to get into NFTs.

Airdrops and Freebies

F-Bomb NFT, an NFT project announced yesterday that they are launching an NFT drop that begins with a whitelist mint on Jan 31. Anyone can register for the presale list that has started today. The platform has plans to airdrop 50 F-Bombs to random NFT holders and contribute 40 ETH tokens to the community wallet as part of the merch.

BitMEX, a popular derivative trading exchange, has airdropped 1.5 million BMEX tokens today to all of its users. In addition to valuable tokens, the platform has also offered VIP tickets to sports and events, as well as exclusive product access.

OpenOcean, the crypto exchange aggregator, has announced its plan to launch an OOE token on its platform. It will drop a new token on the 12th of July that needs to be claimed by the eligible investors – anyone who has made a minimum of four trades or a total trading volume of 40 USDT.

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

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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.

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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

$27,143.11

BTC 0.14%

Ethereum

$1,904.63

ETH 0.75%

Binance Coin

$306.21

BNB -0.22%

Cardano

$0.38

ADA -0.03%

Dogecoin

$0.07

DOGE 0.72%

XRP

$0.52

XRP 1.69%

Polkadot

$5.29

DOT 0.65%

Uniswap Protocol Token

$5.08

UNI 0.38%

Solana

$21.18

SOL 0.14%

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Today’s Crypto Market Updates | February 1

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

Buzz Around DeFi

NFT Round-Up

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

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Today’s Crypto Market Updates | February 1

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

Buzz Around DeFi

NFT Round-Up

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