TheCoinRise is back again with another daily crypto news roundup with all the market sentiment, collaborations, regulatory comments, and disputes.
Bitcoin, the world’s biggest cryptocurrency, hasn’t seen much growth today. The token is currently trying to break above the $50K price level but hasn’t been able to do so. However, it seems that the token is trying to break this bearish trend that was initiated by the sell-off last December.
Terra (LUNA) has continued its bullish outbreak, shooting past the $90 mark and aiming for $100. On the other hand, Ethereum (ETH) has dropped by 2.18% in the last 7-days. Furthermore, Avalanche (AVAX) has also been following LUNA’s footsteps, rising by nearly 14% in the last week.
The entire market has been in green, and it seems that bulls are in charge.
Arcade secures $15M in Series A funding round
NFT lending platform Arcade has grabbed $15 million through a Series A fundraising round with the participation of many big names. This includes Pantera, Franklin Templeton Blockchain Fund, Castle Island Ventures, Golden Tree Asset Management, Protofund, Eniac Ventures, Probably Nothing Capital, and Lemniscap. Two major individuals, BlockFi CEO Zac Prince and Quantstamp CEO Richard Ma, also joined the round.
Arcade enables users to utilize their NFTs as loan collateral and is also aiming to launch a $3.3 million worth of a loan secured over a total asset value of around $10 million.
BNB Burning Program will be auto-burning from now on
The native token of the world’s biggest crypto exchange platform Binance, Binance Coin (BNB), and the Binance Smart Chain (BSC), will see their burning rate shifting automatically through a formula revealed by the exchange. The exchange giant said that the switch of its burning program model is in line with the community’s feedback and demand. It also added that the company aims to keep as much transparency as possible.
The burning program will be automatic rather than quarterly to offer greater predictability and transparency. The world’s third cryptocurrency by market cap, BNB is currently trading around $529.
Musk thinks BTC is for the rich people
The world’s richest man and Tesla founder are back again today after yesterday’s Web 3.0 trolling. He expressed his honest views on Bitcoin, Ethereum, Dogecoin, and Web 3.0, along with former Twitter CEO Jack Dorsey. Musk agreed to a tweet by Dogecoin co-founder Billy Markus who claimed that Bitcoin just gives power to rich people. Tesla CEO further praised DOGE’s diversity and reiterated his known pro-DOGE stance.
Telegram Bot Payment Service Donate to accept Toncoin
The Open Network or TON has joined hands with Donate; a Telegram verified payment bot to accept Toncoin, the blockchain protocol’s native token. The partnership aims to enable users to pay for their subscriptions in Toncoin.
The announcement was made on TON’s community Telegram channel, a step that Telegram creator Pavel Durov praised.
The TON Blockchain was founded by Durov and his brother Nikolai in 2017, and the duo’s attempt to flog the GRAM token following its $1.7 billion Initial Coin Offering (ICO) in 2018 was faced with significant opposition and a lawsuit by the U.S. SEC.
Retailers are one of the major crypto payments adoption drivers
As per a survey conducted by Mercuryo, more than 50% of the retailer respondents believe in the crypto potential and said that accepting crypto payments will provide their firms a competitive edge. More than 30% of the firms indicated that the users had asked to pay in BTC, ETH, and other crypto token payment options.
Recently as we reported, WhatsApp has started testing payments through Meta’s Novi wallet, which might bring more crypto adoption among retailers.
Indian Parliament winter session ends with a cliffhanger
The country with the largest number of crypto investors, India, is keeping the citizens unclear over the highly trending crypto bill. The winter session of the Indian parliament comes to an end with no floating or presentation of the bill. This is the second time that the bill did not make it to the parliament.
The investors have to wait all over again as the country is in the final stage of the bill drafting. The citizens are stuck between the positive stance of the finance minister and the blanket banning ambitions of the RBI.
Today’s greenery in the crypto world is putting smiles on faces. Various market analysts are emphasizing the importance of patience as the market matures, which has resulted in the extension of the Bitcoin bull run. TheCoinRise will return tomorrow with a new daily roundup for you.