Daily Market Wrap
Crypto market cap: 0.91 trillion, down 0.28%
BTC price stands at USD 22,064, up 3.36%
ETH price stands at USD 1,213, up 7.98%
Top gainer: Helium (HNT), up 28.91%
Top loser: Monero (XMR), down 5.55%
News of the Day
Why it matters:
MicroStrategy (MSTR) shares slumped -25.18% yesterday as it will face a growing threat of margin call if Bitcoin price slips below $21,000
MicroStrategy now is sitting on an unrealised loss of more than $1 billion on its bitcoin (BTC) holdings
Last night, MicroStrategy transferred 2089 #Bitcoin ($48 million) to a new wallet for the first time amid fears of a market crash
Crypto daily spotlight
Brief introduction: Tron is a popular blockchain-based operating system on which one can create decentralised applications and share media content. It uses a delegated proof-of-stake mechanism (DPoS), consisting of 27 Super Representatives that rotate every 6 hours to validate blocks and transactions. On the other hand, Decentralised USD (USDD) is an algorithmic stablecoin on Tron, a multipurpose smart contract blockchain, which is supposed to keep a one-to-one exchange rate to the U.S. dollar.
Why it matters:
Tron’s stablecoin, Decentralised USD (USDD), lost its parity to as low as $0.91 on crypto exchanges early Monday
Tron founder, Justin Sun, tweeted that TronDAO's reserve will deploy $2 billion to fight against “shorting” pressure
Soon after the tweet, he revealed that TronDAO’s reserve saw injections of 700 million USDC to defend the USDD peg
Daily sector tracker
Daily News Roundup
Binance CEO Explained The Cause of The Temporary Withdrawal Issues Involving Bitcoin https://bit.ly/3O8EUfg
Crypto Market Crash Leads to $1B in Liquidations https://bit.ly/3tyUaui
BAYC’s Floor Price Dropped 13% Along With Market https://bit.ly/3Qew7dL
Analytics Firm Found That Illicit Activity Was Just 0.15% of Crypto Transaction Volume in 2021 https://bit.ly/3mOwvCd
Crypto Market Cap Falls Below $1T for First Time Since Early 2021 https://bit.ly/3b2nAdS
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