Market BuzzCryptocurrency Prices Today on March 17: Bitcoin, Ethereum rise as Ukraine legalises cryptos
The total volume in the decentralised finance (DeFi) space stood at $14.37 billion, around 13.63 percent of the aggregate 24-hour cryptocurrency trading volume. The total volume in stablecoins stood at $89.15 billion, making up 84.57 percent of the 24-hour cryptocurrency trading volume. Bitcoin’s market dominance was up 0.15 percent to 42.77 percent and the largest currency in the crypto space was trading at $41,118.45, breaching the $40,000 mark on the morning of March 17. In rupee terms, Bitcoin rose 2.13 percent to trade at Rs 31,93,968 while Ethereum rose 3.44 percent to Rs 2,15,659. Read more here.
Metaverse CentralThe Sandbox Metaverse Token Jumps 8% Amid HSBC, Paris Hilton Tie Up
The Sandbox is becoming a playground for big brands to begin exploring the hype-driven metaverse. Now, Europe’s second-largest bank, HSBC, and American noughties celeb turned crypto enthusiast, Paris Hilton, are joining the fun. HSBC announced a new partnership with the metaverse platform, which included the purchase of a virtual plot of LAND, The Sandbox’s tokenised equivalent of digital real estate. The bank will reportedly put this plot to work, building various esports and gaming activities for enthusiasts. Animoca Brands is the parent company of The Sandbox and is heavily involved in all things crypto and gaming. The Sandbox is a gaming platform built on the Ethereum blockchain that leverages cryptocurrencies and non-fungible tokens (NFTs). Read more here.
Crypto Buzz‘Several Hundred Thousand’ Crypto Addresses Linked to Sanctioned Russian Actors: Elliptic
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Blockchain analytics platform Elliptic has identified “several hundred thousand” crypto addresses that are linked to sanctioned Russia-based individuals or entities. Elliptic clarifies that these addresses are not necessarily all owned by entities currently on sanctioned lists, but include addresses “that we have been able to associate with these actors through our own analysis”. Elliptic’s data has also identified more than 400 virtual asset service providers (VASPs)—most of which are crypto exchanges or wallet providers—that allow for cryptocurrencies to be purchased with the Russian ruble. The blockchain analytics firm has also directly linked more than 15 million crypto addresses to criminal activity, with a “nexus in Russia.” Read here.
Regulation CentreArgentina Cracks Down on Crypto With Anti-Money Laundering Rules
Argentina is set to include cryptocurrency firms in its wider anti-money laundering (AML) regulatory regime, per the Buenos Aires Times. Argentina’s Unidad de Información Financiera (UIF) is the country’s competent authority when it comes to regulating money laundering risks, and it is now reportedly working on adding crypto firms to the list of entities subject to AML reporting requirements. If these regulations are passed, it will significantly change the way cryptocurrency firms interact with regulators in Argentina. Read more here.
