Total stablecoin supply hits $180 billion
According to data compiled by Crypto Rank, despite the current volatile environment, the stablecoin supply has grown by $9.5 billion over the past 30 days, reaching the milestone amount of $180 billion in Feb 2022.
Over February, three stablecoins entered the top 10 coins by market capitalization, including Tether (USDT), USD Coin (USDC), and BUSD. These three stablecoins account for a total of 9% of the total crypto market cap.
Mexico Senator proposes Bitcoin legal tender bill
Indira Kempis, a senator from the state of Nuevo Leon in Mexico, wants to make her country the second in the world to adopt Bitcoin as legal tender.
Indira Kempis is working on a proposal for a crypto-friendly legal framework, which is expected to be introduced to the Mexican Congress this year.
Bitcoin and crypto market tank 7% as Putin announces military operation in Ukraine
Bitcoin (BTC) and the broader cryptocurrency market have entered yet another sharp correction as Russia announces a ‘military operation’ in Ukraine.
As of press time, Bitcoin is seeing a sharp 7% drop and is currently trading at $35,359 levels with a market cap of $661 billion. This has extended Bitcoin’s weekly losses to almost 20%. All of the top ten altcoins including Ethereum (ETH) are also down anywhere between 8-10%.
Food chain Everbowl let employees get paid in Bitcoin
Superfood chain Everbowl, a company based in California, U.S, will allow corporate employees to have the option to receive a portion of their salaries in Bitcoin, the company said in a press release on February 23rd.
Institutional investors purchased $25 million worth of Avalanche (AVAX) last week
According to the latest report by institutional crypto fund manager CoinShares, Avalanche was the second biggest performer in the week ending February 21, with inflows totaling $25 million.
Avalanche is the fourth-largest DeFi blockchain in the market, with a total value locked (TVL) reaching 10.5 billion USD. Avalanche is currently behind Ethereum ($117.3 billion), Terra ($16 billion), and Binance Smart Chain ($11.9 billion), according to data provided by DeFi Llama.
Top 10 Trending Assets Update
BCOIN continues to hold the No. 1 Top Trending position with 249.64k views. Currently, BCOIN has gained 18.04%, reaching a price of $0.51571982 with a trading volume of $1.06 million.
LTD suddenly witnessed an impressive growth of 72.44%. With this achievement, LTD is currently leading the Top Gainers and holding the 7th position in the Top Trending with 53,026 views. Other assets in the Top Trending include H3RO3S (up 11.03%), ITAMCUBE (up 3%), SPG (down 30.66%),…
El Salvador tourism increases 30% since Bitcoin became legal tender
El Salvador’s decision to make Bitcoin legal tender has paid off as far as tourism is concerned.
According to Salvadoran Tourism Minister Morena Valdez, the tourism industry in El Salvador has surged more than 30% since the adoption of the Bitcoin law in September 2021.
Terra Luna outperforms top 10 in gains as crypto market rebounds
Per CoinMarketCap data, Terra (LUNA), the native token of smart contracts blockchain Terra, is up nearly 10% in the last 24 hours at a present price of $59.08.
LUNA has outperformed the top 10 cryptocurrencies in terms of gains over the last 24 hours, including BTC (up 1.4%), SOL (up 4.06%) and AVAX (up 8.14%).
Luna Foundation Guard raises $1 billion to form Bitcoin reserve for UST stablecoin
The Luna Foundation Guard (LFG) has raised $1 billion through an over-the-counter sale of LUNA, the native token of the Terra blockchain.
Proceeds from the $1 billion sales will go towards establishing a Bitcoin-denominated forex reserve for UST, Terra’s biggest stablecoin. The reserve will act as a “release valve” for UST redemptions; it is designed to ensure that the price of the stablecoin remains pegged to that of the dollar during sharp selloffs in crypto markets.
Dogecoin-inspired restaurant opens in Dubai, accepts crypto payments
A cryptocurrency-based restaurant has opened in Dubai and is accepting payments in every major crypto asset for food based on the meme-inspired cryptocurrency Dogecoin.
The restaurant reportedly accepts payments in all major crypto sassets, including DOGE, BNB, CRO, XRP, USDT, and even rival meme-inspired cryptocurrency SHIBA INU (SHIB).