CoinDesk says Bitcoin and Ether lost significant levels of support yesterday, weakening sentiment towards the crypto market as a whole.
This resulted in more than $ 520 million in liquidation.
Ether tracking futures have lost more than $ 236 million and Bitcoin futures have lost $ 125 million, the report said.
Meanwhile, Tether has debuted the new Tether token USD₮ on Polygon, a blockchain development platform. press release To tell.
This will provide Polygon-based teams with new stablecoin options, and Tether is reported to play a major role in supporting Polygon’s DeFi ecosystem.
It can help the potential negative impact of market volatility by generating yields and providing a stable currency to enter and exit the network.
In other news, Russia is considering allowing cryptography to be used for international payments, Reuters wrote.
Ivan Cheveskov, head of the Treasury’s financial policy department, said this was “actively debated.”
In addition, Bitcoin, which accounts for 44% of the total crypto market value, could return to the top of the crypto world, Bloomberg wrote.
According to the report, the new surge in Bitcoin can be seen as a reflection of how TerraUSD’s stablecoin rolled small tokens such as avalanches and solana.
In other crypto news, the blockchain ecosystem Binance has received regulatory approval in Italy for Binance Italy to register as a crypto service provider, the press release said.
This will enable the company to offer crypto products to Italian customers. Binance also said that it is important to “operate in compliance with local regulations.”
In addition, the game platform Zebedee will work with MoonPay, a crypto company that provides crypto payment infrastructure, the press release said.
This will help MoonPay convert US dollars to Bitcoin and move it to the Zebedeee platform.
Users can use it to add to the game with in-game purchases.
In more crypto news, Crypto.com and Coinbase have the most advertising violations among crypto companies, and according to a new investigation by Cryptohead.com, both have 12 violations each.
According to the report, the Crypto.com breach was due to two separate ads, and it was not stated that cryptocurrencies were not regulated in the UK and could fluctuate in value.
And Coinbase’s breach comes from a Facebook ad that said, “The £ 5 of #Bitcoin in 2010 is worth more than £ 100,000 in January 2021.”
Finally, Belarusian authorities have reportedly confiscated cryptocurrencies worth “millions of dollars,” a Bitcoin.com report said.
The report states that the country is considering strengthening crypto rules earlier this year, and in April the Ministry of Justice adopted legal proceedings to seize crypto funds as part of its enforcement process.