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Tuesday, Jul 05, 2022
Outlook.com
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Bitcoin Drops On 13th Birthday; Samsung Partners With Blockchain Platform To Plant Trees

After falling below the $46,000 level, Bitcoin later managed to recover slightly to trade at $46,064.18, down by 2 per cent in the last 24 hours, according to Coinmarketcap data.

Bitcoin Drops On 13th Birthday; Samsung Partners With Blockchain Platform To Plant Trees
Bitcoin Drops On 13th Birthday; Samsung Partners With Blockchain Platform To Plant Trees
outlookindia.com
2022-01-04T17:43:57+05:30

World’s oldest crypto Bitcoin (BTC), which is celebrating its 13th birthday today, dropped below the $46,000 mark for a brief period today, while global crypto markets was trading slightly lower.

The last few crypto trading days can be at best described as choppy since prices of major crypto tokens were range-bound for the most part. The global crypto market without any further significant cues is trading slightly lower. Its market cap stands at $2.20 trillion, down by 1.76 per cent, showed coinmarketcap data.

Meanwhile, Samsung announced a partnership with Veritree, a blockchain integration platform, to plant 2 million mangrove trees in Madagascar, an African Island Nation. This initiative is part of Samsung’s long-term action plan regarding environmental sustainability. Mark Newton, head of corporate sustainability for Samsung Electronics America, said on the sidelines of CES 2021, “Investing in tech innovations, such as those that create efficiency improvements and minimize waste, in combination with nature-based solutions, are vital in the fight against climate change.”

After falling below the $46,000 level, Bitcoin later managed to recover slightly to trade at $46,064.18, down by 2 per cent in the last 24 hours, at 8.30am. Rival Ethereum (ETH) was down by 1.85 per cent at $3,729.22.

“Bitcoin continues to trade around $46,000. Technical indicators indicate close by support that could encourage short-term buying activity. However, long-term momentum has slowed down, implying low or negative crypto returns this month,” says Gaurav Dahake, CEO and co-founder, Bitbns.

Algorand

Cardano (ADA) was down by 3.60 per cent at $1.31, while Algorand (ALGO), which is known as the Ethereum killer, was up by 8.65 per cent at $1.79; its market cap now stands at $11,427,393,223.

Among other major coins, Binance Coin (BNB) was down by 3.60 per cent at $505.24, while Solana (SOL) fell 3.49 per cent at $167.48.

Today’s top gainer was PAPPAY (PAPPAY), which was up by 490.35 per cent at $0.0000297. The top loser was Cheems Inu (CINU), which saw its value erode by 100 per cent at $0.000000000000005007.

Meme Coins And DeFi

Dogecoin (DOGE) was trading with a loss of 1.71 per cent at $0.1692. Its volume to market cap ratio stands at 0.02274. Rival Shiba Inu was down by 3.40 per cent at $0.00003266. ELON is trading with a loss of 7.16 per cent at $0.000001518, Floki Inu crashed by 12.65 per cent at $0.00009782, while Samoyed Coin (SAMO) is trading with a loss of 3.05 per cent at $0.03817.

In the DeFi segment, YFI (yearn.finance) was trading with a loss of 7.13 per cent at $38,012.19, Terra (LUNA) was down by 3.33 per cent at $87.36, Avalanche (AVAX) is down by 5.62 per cent at $106.02, but Uniswap (UNI) managed to slightly recover its losses, it is currently down by 0.88 per cent at $18.19.

Current Updates

Tinyman, an Algorand blockchain-based trading protocol, suffered a massive hacking attack that resulted in a huge financial loss of approximately $3 million. The Tinyman team is working constantly to investigate the matter and they said on Medium that they have uncovered the wallet address from where the hackers started their operation.

The Sun UK reported yet another recent NFT hack. This time it was collector Todd Kramer’s Bored Ape Yacht Club and Mutant Ape Yacht Club NFT tokens which were stolen by hackers. These NFTs were worth about $2.2 million.

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