The cryptocurrency market was trading mixed on Friday. Disappointing numbers from Meta, formerly known as Facebook and a sell-off in tech stocks such as Amazon and Snap added to the pressure. Bitcoin trading above the $37,000 mark. The world’s largest and most popular digital token was up over 1.43 per cent at 37,579.31, however, is down 19 per cent in 2022 (year-to-date or YTD) so far. Meanwhile, the global cryptocurrency market capitalisation today surged over 1 per cent to $1.8 trillion. Bitcoin, the largest cryptocurrency, has lost a fifth of its value this year, while some smaller coins, as well as tokens influenced by social-media sentiment, have posted even larger drops.
Similarly, Ether, the coin linked to ethereum blockchain and the second largest cryptocurrency, rose marginally to $2,761.85, as per coinmarketcap.com. On the other hand, Binance Coin was also up more than a per cent at $371. Dogecoin price gained to $0.13 whereas Shiba Inu was trading at $0.000021. The performance of other cryptos also improved as XRP, Stellar, Avalanche, Cardano, Solana, Polygon, Terra, prices were trading with gains over the last 24 hours.
The global crypto market cap rose in the past 24 hours. Bitcoin and Ethereum gained their winning streak back after dipping on Thursday, said Edul Patel, CEO and Co-founder of Mudrex. “Buyers have constantly been losing ground to sellers, while the spot trading volume has reduced and has been a trend in crypto since January. Most altcoins are running in the green, showing some improvement over the previous day,” he added.
Wormhole, the popular cross-chain crypto bridge between Solana, Ethereum, Avalanche, and others, has restored its missing funds after a hacker yesterday managed to siphon $320 million in Wrapped Ethereum (wETH) out of the protocol.
Her Majesty’s Revenue and Customs (HMRC)—the UK’s tax, payments, and customs authority—has updated the rules that govern decentralized finance (DeFi) and crypto staking. It has set out a series of 4 “guiding principles” that act as general guidance on determining the nature of return related to DeFi or staking should be classed as income or as capital gains.
Multinational entertainment company Disney is looking for prospective candidates who understand the burgeoning non-fungible token (NFT) industry. A total of four jobs on the company’s careers website mention NFTs. These positions are; Director, Sales & Digital Marketing; Culture Trend Marketing Manager; Manager, Business Development; and ESPN Business Development & Innovation.
Here are the top 10 cryptocurrencies and their prices on February 4, 2022 (data from coinmarketcap.com at the time of publishing this article)
Bitcoin $37,579.31 or 1.43 per cent gain in the last 24 hours
Ethereum $2,761.85 or 3.68 per cent gain in the last 24 hours
Cardano $1.70 or 2.87 per cent gain in the last 24 hours
Tether $1.00 or 0.01 per cent gain in the last 24 hours
Terra $51.23 or 4.96 per cent loss in the last 24 hours
XRP $0.6148 or 1.65 per cent gain in the last 24 hours
Solana $104.87 or 6.24 per cent gain in the last 24 hours
Avalanche $69.31 or 1.24 per cent gain in the last 24 hours
Binance $1.00 or 0.04 per cent gain in the last 24 hours
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