Crypto Ping Pong. Weeded Out

Starting the day with another TradeCrypto.Com digest, on its way straight to you! Let's see what has been going on! :) >>

Your Favorite Crypto Digest From

Starting the day with another TradeCrypto.Com digest, on its way straight to you! Let's see what has been going on! :) >>

Market is green. BTC is now trading above $19,950, ETH is trading around $1,050.

💪 Bitcoin dominance: 43.96%

📉 Total Cryptocurrency Market Cap: $0,866 tr

😲 Fear and greed index: 11 (Extreme Fear)

🚀 Gainers(Top-100)

0x (ZRX) +7.09%


Cosmos (ATOM) +2.85%

😭 Losers(Top-100)

TerraClassicUSD (USTC) -30.52%

Storj (STORJ) -14.82%

Polygon (MATIC) -10.04%

EU Finalizes Crypto Money Laundering Rules

Late-stage talks on the law were being held in Brussels to 🔍find a set of rules ✔️agreeable to both the European Parliament, and the Council of the EU (which groups together the 27 member states to make collective legislative decisions). The Council is currently chaired by France. The 🤝deal was made in the nick of time, just over one day before France would have had to cede control over talks to the Czech Republic.

For the rules on transfers to unhosted wallets, Kovařík 📢said the final result had “moved quite far from the initial proposal of the European Parliament” – something likely to be met by a sigh of relief by many in the industry.

Polygon Deploys Custom Blockchain Scaling System 'Avail'

Polygon has deployed Avail, a scaling system designed for developers to 🚀launch their blockchain applications atop the main Polygon chain and other blockchains.

Avail lead developer Anurag Arjun told CoinDesk the new product would ✔️allow developers to access blockchain data “off-chain,” meaning they would not need to continually check data from the network for an application deployed on Polygon.

Snoop Dogg: Crypto Bear Market ‘Weeded Out’ Those ‘Abusing the Opportunities’

In an interview with CNBC, the 🎤rapper and his son who goes by Champ Medici shared their thoughts on the crypto bear market, NFTs in music, using NFTs for branding, and Elon Musk.

“I think it was a beautiful industry that was created,” Snoop said about crypto. “I feel like every great industry has a downfall, there's always a depression in every industry you could look at. Alcohol, tobacco, clothing, food. I just feel like this weeded out all of the people that wasn’t [sic] supposed to be in that space and all the people who were abusing the opportunities that were there,” he said.

Bitcoin Dips Below $20,000 as Crypto Market Pressure Intensifies

Bitcoin has once again 📉slumped below the psychological mark of $20,000 on Wednesday morning, a level last seen on June 22.

At the time of writing, the leading cryptocurrency is trading at $19,998, 📉down 5.27% over the past 24 hours, according to data provided by CoinMarketCap.

Crypto Fund Three Arrows Capital Ordered to Liquidate: Report

The Singapore-based crypto fund Three Arrows Capital (3AC) has been ordered to ❌liquidate by a court in the British Virgin Islands, according to Sky News.

Sky News reported that Teneo Restructuring will assist in the proceedings.

North Korea's $400M Crypto Losses Could Hurt Its Nuclear Weapons Program: Report

North Korea’s stores of stolen crypto have plunged in value amid the wider market 📉crash, potentially jeopardizing funding for its weapons programs, according to a 📢report by Reuters.

The country has been linked to numerous cyberattacks targeting crypto, including the $552m hack of play-to-earn game Axie Infinity’s Ronin bridge in March.

MicroStrategy Puts Another $10M in Bitcoin Despite Price Crashing Below $20K

Cloud software company MicroStrategy today 📢announced another Bitcoin buy spending this time $10 million on the cryptocurrency despite the price of the asset 📉dropping below $20,000.

The tech firm has now spent over $3.98 billion on Bitcoin, and owns 129,699 digital coins, according to statements from its CEO Michael Saylor. It is also at a 📉loss of $1.3 billion since the price of the currency has dipped.

Conclusion: The market is not going through the easiest of times. It leaves the strongest.

That's it for today, folks! See you on the morrow! ;) Brought to you by Maksym, Srđan, and Yuliia :)

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