Bitcoin and Shiba Inu start the New Year on a low note

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The global crypto market started the new year on a low note. Trading volume jumped 19.59% to $ 91.45 billion, while market cap rose 0.57% to $ 2.22 trillion, according to coinmarketcap data at 8:27 a.m.

Meanwhile, Russia’s largest retail bank, Sberbank, has launched the country’s first blockchain exchange-traded fund (ETF) on the Moscow stock market, coindesk reported. This ETF is compared to the Sber Blockchain Economy Index which tracks the performance of companies related to crypto and blockchain related services. “Direct investments in crypto-assets are associated with high risks and it is difficult to assess them independently. Therefore, we propose to invest not in crypto assets, but in companies that ensure the development of blockchain technologies, ”said Evgeny Zaitsev, Managing Director of Sberbank Asset Management, in a statement.

Investors in the world’s oldest cryptocurrency, Bitcoin (BTC), appear to be cautious as prices continue to fall amid heightened volatility. It was down 0.26% to $ 46,817.93. Rival Ethereum (ETH), however, was up 0.45% to $ 3,730.39.

“Bitcoin has fallen further, currently trading below $ 46,000 after hitting around $ 48,500 earlier yesterday. This rally may have been the result of the options expiration event scheduled for December 31st.

Altcoins have seen a similar downward trajectory. Market leaders ended 2021 on a low note, ”said Gaurav Dahake, CEO of Bitbns.

Among other major coins, Binance Coin (BNB) rose 1.38% to $ 518.40 despite a misunderstanding between its Canadian operation and the OSC (Ontario Securities Commission). “The OSC advises investors that Binance is not registered under Ontario securities law. This means that they are not authorized to offer trading in derivatives or securities to persons or companies located in the province, ”according to a press release.

Solana (SOL) was up 0.83% to $ 172.83, while Cardano (ADA) was down 1.03% to $ 1.33.

The top winner today was Baby Squid Game (BSG) which rose 597.29% to $ 0.000000908. The big loser was SORA Synthetic USD (XSTUSD), which slumped 99.81% to $ 0.001921.

Meme Coins And DeFi

Dogecoin (DOGE) was trading with a loss of 0.71 percent to $ 0.1719, while rival Shiba Inu (SHIB) was down 0.82 percent to $ 0.00003374.

ELON is trading with a large gain of 11.31 percent at $ 0.000001638, Floki Inu is up 7.07 percent at $ 0.0001089, while Samoyed Coin (SAMO) is trading with a loss of 4 , 57 percent to $ 0.03602.

In the DeFi segment, YFI (yearn.finance) traded with a gain of 10.77% to $ 33,593.61, Terra (LUNA) was up 1.17% to $ 87.59, Avalanche (AVAX ) gained 9.13% to $ 110.58, but Uniswap (UNI) was down 3.54% to $ 17.27.

Latest updates

David Schwartz, CTO of Ripple Blockchain, clarified on a user’s tweet that he has optimized parts of Bitcoin’s blockchain mining pool applications. He said, “I worked on code optimization for mining pool applications in 2011.”

Changpeng Zhao, CEO of Binance, responding to a user’s comment on “DeFi is the future” on Binance’s official YouTube channel said, “If you think about it, don’t touch any centralized system, stay in the decentralized world. , all the power of you. ”Zhao also said that crypto still needs a centralized financial system to bring investments into its ecosystem and give an exit option to those who sell. So one cannot function effectively without the other, Coindesk reported.

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