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Binance Teams Up With Mastercard to Launch Prepaid Crypto Card in Brazil

Daily Market Wrap

  • Crypto market cap: 1.04 trillion, up 0.45%

  • BTC price stands at USD 21,599, up 0.30%

  • ETH price stands at USD 1,686, up 0.71%

  • Top gainer: Theta Fuel (TFUEL), up 25.09%

  • Top loser: Lido DAO (LDO), down 10.25%

News of the Day

Why it matters:

  • In partnership with Mastercard, crypto giant Binance is launching its pre-paid card, offering cryptocurrency “rewards” on customers’ purchases

  • According to Mastercard’s CEO, Michael Miebach, the Binance Argentina Card will support fourteen cryptocurrencies: BUSD, USDT, USDC, BTC, BNB, ETH, ADA, DOT, SOL, MANA, SXP, XRP, SHIB, and AVAX

  • Users may swap cryptocurrencies instantaneously for fiat at the point of sale, earn up to 8% in crypto cash back on qualified transactions and pay no fees for ATM withdrawals

Crypto Daily Spotlight

Brief introduction: Ethereum is a smart-contract enabled Layer-1 blockchain. Its execution layer, previously known as ETH 1.0, uses Proof-of-Work (PoW) to validate transactions, which contributes to its scalability issues. Recently, the Merge is set to transition Ethereum to its next phase (formerly known as Ethereum 2.0) as the network’s entire blockchain moves to a new system called proof-of-Stake (PoS), which proponents say will make it more efficient, sustainable and scalable.

Why it matters:

  • According to a Wednesday blog post by the Ethereum Foundation, the long-awaited Merge upgrade will now be fully completed between September 10 and 20

  • The Bellatrix upgrade, which is responsible for setting the rest of the Merge process in motion, will activate on the Beacon Chain on September 6

  • At the Terminal Total Difficulty (TTD) of 58750000000000000000000, the second upgrade named Paris will be triggered, expected between September 10 to September 20

  • TTD is a measure of how difficult it is for miners to mine a block. It also specifies the end of Proof-of-Work (PoW) and the beginning of Proof-of-Stake (PoS)

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