Bitcoin falls again with fears for Ômicron and more issues that will move the crypto market today

bitcoin

Fears surrounding the Ômicron variant of the coronavirus return to set the tone in global markets this Tuesday (30) after the CEO of the pharmaceutical company Moderna warned of a drop in the effectiveness of the vaccine against the new strain. The information brings a new risk aversion movement and affects Bitcoin (BTC), which is again trading at US$ 56,000 this morning.

The new pullback holds a tentative recovery seen yesterday, when the digital currency briefly hit the $59,000 mark. The situation is similar to the one seen on Friday (26), when the news about the Ômicron variant made the price of BTC drop 8% right after an attempt to approach US$ 60 thousand the day before.

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Such moves are seen as common due to the increased correlation of Bitcoin with the financial market in times of crisis. In this scenario, the liquidation of fund managers and other investors who come from the traditional market end up bringing momentary selling pressure to the asset.

On the other hand, experts point out that the prices of other cryptocurrencies point to a still healthy market. Unlike acute crises like the one that happened in March 2020, many altcoins are paddling in the opposite direction and are showing good results today.

The highlight for now is Shiba Inu (SHIB), which soared 26% after announcing its entry into the blockchain gaming sector with NFT. David Volk, former vice president of Activision Blizzard, is involved in the deal that aims to create a new competitor for Axie Infinity (AXS).

In addition, the American brokerage Kraken confirmed crypto’s listing on its platform as of today.

A handful of cryptocurrencies undergo correction this morning, but several of them maintain weekly gains. This is the case, for example, of the Ethereum Name Service (ENS) and Gala (GALA), which retreat 8%, but still accumulate an increase of more than 60% in the last seven days.

Check the performance of the main cryptocurrencies at 7 am:

cryptocurrencyPriceVariation in the last 24 hours
Bitcoin (BTC)US$56,591.65-0.1%
Ethereum (ETH)$4,436.29+3.5%
Binance Coin (BNB)$612.32+1.3%
Solana (SOL)US$201.88-0.1%
Cardano (ADA)$1.57+0.5%

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The cryptocurrencies with the highest highs in the last 24 hours:

cryptocurrencyPriceVariation in the last 24 hours
Shiba Inu (SHIB)US$ 0.00004942+26.5%
Tezos (XTZ)$5.42+14.6%
Stacks (STX)$2.37+15.6%
Earth (LUNA)US$53.70+9.5%
Hedera (HBAR)US$ 0.360250+9.6%

The cryptocurrencies with the highest casualties in the last 24 hours:

cryptocurrencyPriceVariation in the last 24 hours
Ethereum Name Service (ENS)$68.52-8.2%
Gala (GALA)$0.636016-8.1%
Leo Token (LEO)$3.25-6.2%
Amp (AMP)US$ 0.060484-5.4%
Crypto.com Coin (CRO)US$ 0.692501-6.2%

Check out how the cryptocurrency ETFs closed in the last trading session:

ETFPriceVariation
NCI hashdex (HASH11)BRL 60.95+4.17%
BTCN Hashdex (BITH11)BRL 78.50+4.72%
Hashdex Ethereum (ETHE11)BRL 75.22+1.64%
QR Bitcoin (QBTC11)BRL 20.54+4.26%
QR Ether (QETH11)BRL 18.09+6.91%

See the main news from the crypto market this Tuesday (30):

Twitter would be testing payments with Ethereum

Alleged images start circulating on Twitter showing a payment system with Ethereum inside the microblog. The crypto transfer function has been available since the 23rd of September, but until then it only accepted Bitcoin as a crypto option.

The news came shortly after Jack Dorsey announced his resignation as the company’s CEO. The chair will be occupied by the current CTO, Parag Agrawal.

For now, receiving is only available for a limited number of accounts, but anyone can pay for profiles where the feature is enabled. In Brazil, in addition to Bitcoin, transfers can also be made with PicPay.

There is still no way for payments on Ethereum to be made available to everyone.

Binance Smart Chain updates to burn BNB

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Binance Smart Chain is undergoing an update this Tuesday (30) to implement improvements in transaction speed and in the burning mechanism of Binance Coin (BNB), the network’s native currency.

Coin burning is a process that involves sending a crypto to an inaccessible smart contract, which in effect removes the values ​​from circulation and increases the asset’s scarcity in the market.

BNB is already burned regularly every three months, but with the upgrade, burning will occur continuously. Each transaction on the network will initially burn 10% of the amount of fees paid in BNB. The proportion may be adjusted in the future as decided by the network’s governance system.

The change makes Binance Chain and BNB even more akin to Ethereum, which burns off a portion of network fees in ETH since the London update in August. Since then, the mechanism has burned more than 1 million ETH, equivalent to US$ 4.4 billion at today’s price.

Iron Fish raises $27 million to make all cryptos anonymous

Startup Iron Fish announced that it has raised $27 million in an investment round led by venture capital fund Andreessen Horowitz to develop a privacy technology for cryptocurrencies.

The product will be a kind of smart contract that can be used to absorb any crypto from the market to give it the same anonymous properties as Iron Fish (IRON). According to the founder, Elena Nadolinski, the objective is to give users the necessary freedom to escape state surveillance.

In addition to Bitcoin, Ethereum and other known digital assets, the project could also be applied to central bank digital currencies (CBDC), a solution explored by governments in several countries, such as China, Nigeria, USA and Brazil.

Also invested in the business were Sequoia Capital, LinkedIn CEO Jeff Weiner, billionaire Alan Howard, among others.

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About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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