The Terra crypto community voted to burn 88,6 million units of LUNA over the next few weeks, in order to increase the value of the cryptocurrency. This and more news in this practical summary daily so that you are always informed with events most recent that occur within the crypto world.
Cryptocurrencies and altcoins
📍The Terra community votes in favor of burning more than 88 million LUNA tokens. The current supply of LUNA, the token of the blockchain Terra, will be reduced in the coming weeks after the approval of proposals #133 and #134, recently voted on by the project's crypto community. The aforementioned proposals fit with the network update Columbus 5, implemented at the end of September, and propose the burning of 88,6 million LUNA tokens, with an approximate value of 4.500 billion dollars. By burning tokens, the Terra community wants to increase the value of LUNA.
At the time of this edition, LUNA is ranked 12th cryptocurrency largest in the industry by capitalization. Last Monday, LUNA reached an all-time high price of $54,7.
NFT and DeFi Markets
📍Trolley Hunters y Love in the Air, by Banksy, will be auctioned at Sotheby's headquarters in the Decentraland Metaverse. Sotheby's is preparing the auction of two iconic works of art by the pseudonymous British artist Banksy in the Decentraland Metaverse, on November 18. The auction house reported that it will accept bids in ether for Banksy's works.
📍The Bumble BBF app will integrate the Metaverse and Web3. Whitney Wolfe Herd, Director of Bumble BBF, said that the dating and friends application will be renewed to make its entry into the world of the Metaverse and Web3. Bumble wants to build new features that allow its users to live new experiences, while building their own identity, new communities and virtual goods. The idea of the application is to take advantage of the loyalty of its millions of users around the world and the next generation opportunities that new technologies provide, to connect, interact and socialize with other users anywhere in the world through the Metaverse.
Cybersecurity
📍MediaMarkt, the largest German electronics store chain in Europe, is a victim of ransomware. The German chain MediaMarkt, a leader in electronics products in Europe, suffered a ransomware attack earlier this week, which blocked its access to services such as card payment acceptance and the returns system. According to the Reports, more than 3.000 servers in the chain were affected by ransomware and, to restore them, the attackers are asking for a reward of $50 million in Bitcoin. The attackers' initial demand to unlock services and release data was for $240 million, multiple sources reported.
MediaMarkt confirmed the attack and is working with experts to restore its services and be back to 100% operation as soon as possible. In a few weeks, one of the most important shopping events in the world will take place, where millions of people rush to buy in their favorite stores in person and online. With the effects caused by ransomware, MediaMarkt customers cannot carry out online transactions, schedule pickups, or process order returns.
Rules and Regulations
📍The United States Congress will hold a hearing to clarify its role in the cryptocurrency industry. La audienceCalled “Demystifying Cryptocurrencies: Digital Assets and the Role of Government”, will be held before the Economic Committee of Congress on November 17. Don Beyer, president of the Committee, will chair the hearing through which Congress wants to clarify its role within the buoyant world of cryptocurrencies.
📍In Russia, the State Duma wants to regulate cryptocurrency mining. The chairman of the State Duma, Vyacheslav Volodin, ordered the creation of a working group to address the regulation of cryptocurrency mining in the country. He Valid identity document published by the official site of the State Duma of Russia notes that legalizing cryptocurrency mining is a priority in the country; Since, with the rise of mining in Russia after the restrictions imposed by the Chinese government, cryptoactive miners are getting rich without paying taxes, the official said. According to reports, in Russia, cryptocurrency miners generate about $2.000 billion a year.
Continue reading: Twitter creates specialized team to advance on its path towards the decentralization of social networks
