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    Crypto Market: Important Developments of the Week

    By Ammar Mukhtar

    Jun 07,2022

    9:40 AM UTC

    Here are the top developments that happened around the market:

    • In the past 24 hours, we have seen a drop in the price of Bitcoin (BTC). At the time of writing, BTC is being traded for the price of almost $29.5k. The price has dropped by almost 5%.
    • Ethereum (ETH) is also following Bitcoin (BTC). During the writing, ETH is being traded at the price of almost $1,763 and we have seen a drop of almost 8%.
    • Binance Labs, the funding and investment arm of major crypto trading platform Binance, has made a venture of an undisclosed sum in decentralized trade (DEX) PancakeSwap’s utility and administration token CAKE.
    • Metaverse and NFT project designer Animoca Brands revealed appointments, including token deals, NFT deals including auxiliary deals, and other non-blockchain exercises.
    • IRA Financial Trust (IRA), a stage for independently managed retirement and benefits accounts, said it has documented a claim against Gemini Trust Company, a crypto trading platform and custodian.
    • Ukraine began selling real estate for stablecoin.
    • The mayor of an Australian city has authorized the use of cryptocurrency for tax payments.
    • Elon Musk claims Twitter hides data about spam accounts.
    • Web3 lifestyle application STEPN (STEPN) reported they have been under various denial of service (DDoS) assaults. That’s why they added that securing the servers and recuperation might take somewhere in the range of 1 to 12 hours however didn’t report that this has been finished as of the hour of composing.

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