European Central Bank To Accelerate Digital Euro CBDC Efforts; Bitcoin Falls 8%, Shiba Inu 3%

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Euro­pean Cen­tral Bank’s Pres­i­dent Chris­tine Lagarde says that she ful­ly sup­ports the accel­er­at­ed research and devel­op­ment work on dig­i­tal euro, a Cen­tral Bank Dig­i­tal Cur­ren­cy (CBDC). Mean­while, Amer­i­can e‑commerce com­pa­ny eBay hint­ed about start­ing a dig­i­tal wal­let ser­vice for var­i­ous dig­i­tal assets. 

The glob­al cryp­to mar­ket cap decreased by 3.92 per cent to $1.73 tril­lion at 9.44 am. The glob­al cryp­to vol­ume too decreased by 2.96 per cent to $89.36 bil­lion, as per Coin­mar­ket­cap data. 

Cryp­tocur­ren­cy Prices

Bit­coin (BTC), the world’s old­est cryp­tocur­ren­cy, was trad­ing at $38,656.84, low­er by 5.18 per cent in the last 24 hours.

Ethereum (ETH), the sec­ond-largest cryp­tocur­ren­cy by mar­ket cap­i­tal­i­sa­tion, was also trad­ing low­er by 4.08 per cent at $2,549.50.

Among oth­er major coins, Car­dano (ADA) was down by 3.98 per cent at $0.7912, Algo­rand (ALGO) by 5.22 per cent at $0.7132, Binance Coin (BNB) by 4.22 per cent at $368.62, Solana (SOL) 4.17 per cent at $81.67 and Polka­dot (DOT) fell 1.15 per cent at $17.03.

Today’s top gain­er was QATAR 2022 TOKEN (FWC), which was up by 2462.52 per cent at $0.0000000002621. The top los­er was Spook Inu (SINU), which was down by 100 per cent at $0.0000000002958.

Meme Coin And DeFi Prices

Doge­coin (DOGE) was down by 2.62 per cent at $0.1158. Its vol­ume to mar­ket cap ratio stands at 0.0319. Rival Shi­ba Inu (SHIB) also was down by 3.43 per cent at $0.00002214.

Dogelon Mars (ELON) was trad­ing with a loss of 4.56 per cent at $0.0000006924. Flo­ki Inu (FLOKI) was also down by 3.33 per cent at $0.00002921, while Samoyed Coin (SAMO) lost 3.3 per cent at $0.01851.

In the DeFi seg­ment, YFI (yearn.finance) was trad­ing with a loss of 4.76 per cent at $18,657.26, while Ter­ra (LUNA) was sur­pris­ing­ly up by 1.53 per cent at $96.35. Avalanche (AVAX) lost 0.52 per cent to $74.37, Uniswap (UNI) lost 3.57 per cent to trade at $8.55, and Aave (AAVE) lost 5.35 per cent to $116.03.

Lat­est Updates

The Euro­pean Cen­tral Bank’s (ECB) dig­i­tal euro task force start­ed its two-year-long inves­ti­ga­tion process regard­ing a Euro CBDC back in Octo­ber 2021. But now due to sud­den changes in glob­al sit­u­a­tions like the recent Rus­sia-Ukraine war and oth­ers, ECB is look­ing to accel­er­ate the research and devel­op­ment process. Coin­desk quot­ed Lagarde as say­ing, “I think we have to be a lit­tle bit ahead of the curve if we can be on that front. So, I hope we can accel­er­ate the work. I will cer­tain­ly sup­port that.”

eBay, which once dom­i­nat­ed e‑commerce, is mak­ing anoth­er bid to regain lost ground and estab­lish itself among the Gen‑Z and mil­len­ni­als by tak­ing a series of steps. As part of that, they start­ed NFT buy­ing and sell­ing on their plat­form from May 2021. Now they have hint­ed about launch­ing a ‘Dig­i­tal Wal­let’ some­time around Q2 2022. Jamie Ian­none, the CEO of eBay, was quot­ed as say­ing by Coin­desk, “eBay is con­tin­u­ing to look at new forms of pay­ment to add now that we’ve got the roll­out of glob­al pay­ments complete.”



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