Crypto market remains stable, strong increase at Terra
On Wednesday (August 4th), the slight decline in the crypto market of the past two days continued. Bitcoin is down 2.5% in the past 24 hours. Here the value is now below €32,000, the capitalization has fallen below the mark of €600 billion.
In contrast, the LUNA cryptocurrency has been particularly successful. In the past 24 hours, the value of LUNA has risen by 13%, over the past two weeks it has increased by as much as 162%. The value is now €11.7 and the capitalization is almost €5 billion. At the beginning of July, the price was only €5 and the capitalization was €2 billion.
LUNA is the native token of the Terra blockchain project, which deals with the construction of infrastructure for stablecoins. The value of LUNA has been rising steadily for more than a month after Terra started a partnership with the open-source platform Harmony, writes BTC-ECHO .
In addition, according to TechCrunch , Terra is very popular with investors. In July, donors including Pantera Capital and Arrington XRP pledged to invest $ 150 million in products linked to the Terra ecosystem over the next few years.
The rest of the crypto market mostly shows declines that are minor. Cardano achieved a slight plus of 2% on Wednesday. The price is here at €1.12, the capitalization at €36 billion. Chainlink is also seeing an increase of more than 1%, with the value increasing by 16% in the past week. Here the price is just under €20 and the capitalization is €8.6 billion. On the market as a whole, capitalization remains stable at around €1.3 trillion.
FTX becomes a sponsor of the League of Legends professional league
The crypto exchange FTX has secured a major sponsorship deal in the gaming scene. The company will start a partnership with LCS, the North American professional esports league for the popular online game League of Legends, this coming weekend. The brand of cooperation will have a strong presence at the LCS playoffs in the future. The deal is set to run for the next seven years.
Bitpanda is building a digital blockchain hub for ten million euros
Austria’s first unicorn Bitpanda has announced a massive investment in future research and development in the field of blockchain. The fintech wants to create a “Blockchain Research & Development Hub” completely tailored to remote working in the next two years. The startup plans to spend a total of ten million euros on this. A team of specialists from all over the world should develop blockchain technology for the future.
Google again allows crypto wallet advertising in the USA
In the USA, crypto wallets are now allowed to place ads on Google again. That says the tech giant’s updated policy for financial products and services, which went into full effect on August 3rd. In doing so, Google has lifted a ban that has been in place for three years, at least in the USA. However, advertising for token sales, DeFi protocols, and actual trading in cryptocurrencies or related products is still not allowed, writes Cointelegraph.
Find more crypto news and updates HERE.
This article is for informational purposes only. We do not recommend any actions based on this information. The material is not to be construed as an offer or recommendation to buy or sell any security, or as investment advice. Furthermore, this information does not represent a guarantee that the systems described here are suitable or useful for a person. Past performance is not an indicator of future price developments.