The price of Bitcoin, the most capitalized cryptocurrency in the industry, has fallen 5% in the last few hours, returning to the $39.000 dollars last seen in mid-March. This and more news in this handy daily summary so that you are always informed with the most recent events that occur within the crypto world.
Cryptocurrencies and stablecoins
📍‌Bitcoin price drops below $40.000 while Ethereum returns to $2.900. The market for cryptocurrencies, opened the week in the red, with the price of Bitcoin (BTC) and Ethereum (ETH), the two main cryptocurrencies on the market, falling more than 5% in the last 24 hours.
Bitcoin's price is currently hovering around $39.600 per BTC, returning to levels last seen in mid-March. Meanwhile, Ethereum has again touched $2.900 per unit, according to data from crypto asset price monitoring platform CoinGecko. The price of other cryptocurrencies, such as Solana (SOL), Cardano (ADA), Earth (LUNA) and Polkadot (DOT), which are within the Top 10, have fallen between 8,5% and 9,3% in the last few hours.
Cryptocurrency analyst Colin Wu tweeted that while major cryptocurrencies on the market have fallen on Monday, long-term US Treasury bond yields have risen to three-year highs.
Bitcoin and Blockchain Adoption
📍‌In Mexico, Colombian multinational Rappi has launched a pilot to boost Bitcoin payments. Rappi announced that its customers in Mexico will be able to use the delivery app to purchase products through cryptocurrencies such as Bitcoin. The company has partnered with two cryptocurrency payment providers, which will allow its users to connect their wallets to exchange crypto assets for Rappi credits within the app, where they will be able to access all the products available to make their purchases.
Sebastian Mejia, founder of Rappi, said Bloomberg said that the future of payments is the intersection of crypto companies with traditional companies, to facilitate simple and uncomplicated experiences for everyone. Mexico will be the first country where Rappi will implement the payment option with crypto assets.
NFT and DeFi Markets
📍‌Uniswap Labs Ventures Launched to Empower DeFi Ecosystem Uniswap Labs, developer of the largest decentralized exchange in the ecosystem DeFi, Uniswap, has launched venture capital company Uniswap Labs Ventures. In a releaseUniswap Labs reported that its new subsidiary will invest in different projects in the DeFi ecosystem, ranging from infrastructure to the development of new and innovative tools and applications aimed at users.
In total, Uniswap Labs Ventures has invested in 11 projects within the decentralized ecosystem, including LayerZero, Tenderly, MakerDAO, Aave, Compound Protocol, PartyDAO, among others.
Metaverse and Play to Earn
📍‌Fortnite developer Epic Games raises $2.000 billion to fund its journey into the Metaverse. Video game developer Epic Games raised no less than $2.000 billion from companies like Sony Group Corporation and KIRKBI, the company behind the LEGO Group, to support its vision of building the Metaverse.
In a release In a recent statement, Epic Games said that the two companies each contributed $1.000 billion in funding. The funds will be used to delve deeper into the Metaverse as a space where the company can enhance its game engine, combine new technologies with Sony, and develop innovations that allow users to enjoy new digital experiences.
Miners and Node Validators
📍‌The Litecoin Foundation and Antpool will create LTC Labs to focus on the Litecoin ecosystem. The digital currency research laboratory LTC Labs, created by the Litecoin Foundation and cryptocurrency miner Antpool, will focus on the study and research of everything related to the Litecoin digital ecosystem.
According to reported, LTC Labs will focus on anonymous transaction information, developing decentralized applications, and evolving LTC as a cryptocurrency, in the development of crypto wallets and purses, among other things.
Innovation, Development and Technology
📍‌Umbra, a privacy-focused protocol, comes to Ethereum layer two. Ethereum's second-layer scaling solutions, Arbitrum and Optimism, have design support for the Umbra privacy protocol, which enables “invisible payments” within the Ethereum network.
📍‌The Web3 Foundation will fund 31 projects related to the Metaverse and Web3. The Web3 Foundation, founded by Gavin Wood, developer of Polkadot, has published the list of the projects that it will fund in its next grant.
In total, the organization will support the development of 31 projects focused on the Metaverse and Web3, including the development of blockchain oracle solutions, the creation of next-generation metaverses, the development of a derivatives platform for DOT, the design of collateral-free stablecoins, the development of a no-code platform for the Substrate ecosystem, the creation of new parachains on Polkadot, and much more.
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