The global crypto market reported losses throughout New Years Day. The market cap at 4:01 p.m. was $ 2.22 trillion, down 1.65%, according to coinmarketcap data. Trading volume is also down 11.45% to $ 83.24 billion, which could be a mixed signal given a weak market start for 2022.
In what may be the first such case in South Korea, ruling Democratic Party representative Lee Kwang-Jae has announced that people can donate to his political campaign using crypto tokens like Bitcoin, Ether and other Korean crypto tokens. He added that receipts for such donations will be issued in the form of non-fungible tokens (NFTs) to contributors. His office said in the Korean Herald: “We are currently reviewing a selection of local wallet providers (virtual assets), we will soon reveal our wallet address on our blog.”
Bitcoin (BTC) was trading at $ 46,862.24, down 3.19% as of 4:01 pm Although the bears managed to push the price of the world’s oldest crypto down significantly, investors continued to buy the decline, as evidenced by the 3.04% rise in its trading volume to $ 34,449,837,394. Additionally, Bloomberg reported that long-term bull Microstrategy also used this drop and bought around $ 94 million worth of Bitcoins in December.
Rival Ethereum continued to trade in the red at $ 3,715.91; down 2.78%.
Cardano (ADA) was down 3.82% to $ 1.32, while Algorand, known as the killer of Ethereum, was down 6.77% to $ 1.64; its market capitalization now stands at $ 10,443,693,571.
Among other major coins, Binance Coin (BNB) fell 2.14% to $ 513.26, while Solana (SOL) fell 2.46% to $ 172.06.
Surprisingly, the coin that was the biggest loser 8 hours ago has now become the biggest winner. SORA Synthetic USD (XSTUSD) was down 99.81% in the morning and is now up 4,182.11% to $ 0.9894. The biggest loser was Safe Trip Finance (STF), which lost 95.36% to $ 0.004421.
Meme Coins And DeFi
Dogecoin (DOGE) was trading with a loss of 1.86% at $ 0.1711. Its volume / market capitalization ratio stands at 0.02401.
Despite a positive development for Shiba Inu (SHIB), which launched a beta version of its Decentralized Autonomous Organization (DAO), it was trading with losses. As of 4:01 p.m., it was down 2.33% to $ 0.00003366. Announcing this on their blog, the developers said, “This is a critical first step, orienting our decentralized exchange towards growth, while promoting all of the #ShibArmy benefits of these pairs. “
ELON is trading with a 4.25% gain at $ 0.000001585, Floki Inu is up 0.34% to $ 0.0001063, while Samoyed Coin (SAMO) is trading with a loss of 2.04% at $ 0.03643.
In the DeFi segment, YFI (yearn.finance) traded with a gain of 7.67% to $ 33,456.43, Terra (LUNA) was down 2.54% to $ 87.85, Avalanche (AVAX ) gained 3.11% to $ 109.29, but Uniswap (UNI) continued to bleed, currently down 7.56% to $ 17.03.
The world’s largest Bitcoin fund, Grayscale appears to have significantly reduced its holdings of crypto-assets according to their latest tweet. Coindesk said his crypto holdings were around $ 61 billion in November and now, according to Grayscale’s tweet, they stood at $ 43.6 billion in December. From this, we can formulate that they have significantly reduced their crypto holdings.
Canada-based Bitfarms, a Bitcoin mining company with more than 3,300 Bitcoins in its wallet, has secured a $ 100 million secured (BTC) credit facility with blockchain financial services provider Galaxy Digital Holdings, coindesk reported . From that $ 100 million credit facility, they have already raised $ 60 million at 10.75 percent interest according to their press release. CFO Jeff Lucas reportedly said, “Our new $ 100 million BTC credit facility adds another element to our diversified funding strategy and provides significant non-dilutive capital to fund our global growth initiatives.”