Vladimir Putin, the president of Russia, adopts a measure that essentially outlaws cryptocurrency payments there. Meanwhile, further details surrounding Celsius emerged (CEL). Ethereum has a 2 percent market cap, whereas Bitcoin is above 1%.
Highlights:
- Equities First is now paying back $5 million per month on a loan made up of $765 Bitcoin and $361 million in cash (BTC).
- Celsius (CEL) is owed $439 million by a private lending platform under the name Equities First.
- The aggregate capitalization of cryptocurrency markets increased by 0.44 percent to $929.36 billion.
Vladimir Putin, the president of Russia, has issued an order effectively banning the use of digital security and mileage token payments across the nation. This law was approved on July 8, 2022, by the Russian Assembly (Duma), and it adds to a previous regulation that was established in Russia in 2020 and prohibited the use of cryptocurrencies to enable domestic payments.
A private loan platform called Equities First owes Celsius (CEL) $439 million, according to other reporting. According to Financial Times sources, Equities First is now paying back $5 million per month on a debt comprised of $765 Bitcoin and $361 million in cash (BTC).
A prophet for Celsius reports that Equities First and our customer have agreed to extend our scoring.
Cryptocurrency market prices
All cryptocurrency markets‘ combined capitalization grew by 0.44 percent to $929.36 billion as of 8:00 am. However, according to Comarkets, the total value of all cryptocurrencies plummeted by 14.74 percent to $61.89 billion.
The price of Bitcoin (BTC), the first cryptocurrency ever created, was $ and was up 0.92 percent from the day before. There was a $1.92 increase in ETH (Ethereum).
Other noteworthy coins included Solana (SOL), which was down 0.14 percent at $37.02, Polkadot (DOT), which was down 0.02 percent at $6.72, and others. Cardano (ADA), which was down 0.52 percent at $0.4379, Algorand (ALGO), which was up 0.77 percent at $0.329, Binance Coin (BNB), which was up 0.1 percent, and others were also notable.
At the time, the biggest killer was TerraClassicUSD(USTC), which was over by 41.01 percent at $0.05065. The worst performer was Uniswap (UNI), down 4.98 percent to $6.73.
What are DeFi and Meme Coin?
Decentralized finance, or DeFi, is a general term for financial services offered by open blockchains, particularly Ethereum. With DeFi, you can do the majority of bank-permitted actions fast, without paperwork or a third party, and in-house.
In addition to generating income, these activities also include adapting, progressing, buying insurance, trading derivatives, using trading tactics, and more. Like most crypto, DeFi is global, peer-to-peer (i.e., between two people directly, not via a centralized system), pseudonymous, and open to everyone.
Meme coins are digital currencies that get their inspiration from the Internet and social media jokes or memes. Dogecoin was the first meme currency created (DOGE). A Japanese Shiba Inu dog meme known as Doge served as the basis for the 2013 spoof DOGE.
Meme coins often have a high degree of unpredictability. Due to online community signatures and FOMO, they are very community-driven and may become fashionable overnight. However, when dealers start to focus on the next meme coin, their price may also quickly drop.
Meme Coin and DeFi Prices
DeFi Dogecoin (DOGE) and meme coin values both increased by 0.9 percent to $0.06247. Its maximum volume-per-request rate is 0.04328. Shiba Inu (SHIB), an opponent, underperformed by 1.38 percent at $0.00001073.
Samoyed Coin (SAMO) rose 0.1 percent to trade at $0.008914, Dogelon Mars (ELON) reduced 0.3 percent to deal at $0.0000003099, Floki Inu (FLOKI) decreased 1.6 percent to deal at $0.000006189, and Dogelon Mars (ELON) lost 1.6 percent to deal at $0.0000003099.
While Terra Classic (LUNC) increased 14.05 percent to $0.0001078 in the DeFi member, YFI (yearn. Finance) increased 1.29 percent to $. Aave (AAVE) decreased by 3.35 percent to 88.62 dollars, Uniswap (UNI) decreased by 4.98 percent to $6.73, and Avalanche (AVAX) down by 3.53 percent to 19.21 dollars.
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