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    Highlights of the Week: Bitcoin (BTC), Ethereum (ETH)

    By Ammar Mukhtar

    May 12,2022

    10:32 AM UTC

    The week has been just fine for the crypto market. Following are the highlights:

    • Bitcoin (BTC) has shown a decrease from $37k to $27k. The total market cap has dropped by almost 15.75%. At the time of writing, BTC is being traded at the price of $27.7k. The price has decreased by almost 10.25% in the past 24 hours and by almost 30.22% in the past week.
    • Ethereum (ETH) has shown the same movement and is following Bitcoin (BTC). In the past 24 hours, the price has decreased by almost 20% and is being traded at almost $1,800.
    • Worldwide market maker Citadel Securities and significant resource supervisor BlackRock have denied contributing to the breakdown of Terra’s algorithmic stablecoin TerraUSD (UST).
    • German citizens who sell their bitcoin (BTC) or Ethereum (ETH) following an extended period of holding will be absolved from taxes, as indicated by a crypto charge understanding from the German Ministry of Finance.
    • Crypto insight firm Chainalysis has gotten USD 170m in a Series F subsidizing round drove by sovereign abundance reserve GIC, The Information detailed
    • Media organization Townsquare Media uncovered in a filing with the US Securities and Exchange Commission (SEC) that they put around USD 5m in BTC during the primary quarter of this current year.
    • Venture company Hivemind and blockchain project Algorand (ALGO) declared the securing of music stage Napster. They added that further subtleties will follow
    • Web3 people group creation tool Highlight brought USD 11m up in a seed financing round drove by Haun Ventures at an undisclosed valuation. The venture empowers clients to construct a community on the blockchain, complete with their own non-fungible tokens (NFTs), without broad specialized information, they made sense of
    • Web3 improvement stage Moralis affirmed it brought USD 40m up in a Series A financing round
    • Nigeria and Kenya-based crypto trading platform MARA declared it brought USD 23m up in a round driven by Distributed Global, FTX, Coinbase, and others
    • Worldwide body the Financial Stability Board is “very much positioned” to plan a worldwide administrative system for cryptoassets
    • Coinbase stopped providing its services to India after it faced pressure from the Reserve Bank of India.
    • Decentralized finance (Defi) exchanging and marking convention Bancor (BNT) reported the launch of Bancor 3, which has new highlights intended to give more straightforward marking.

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