News updates 03.12.2021

1. Crypto Prices Today: Bitcoin Holds Tight to $56K Levels

The year is almost over and the crypto market is still not where it was expected for it to be with the world's largest cryptocurrency, bitcoin, trading at $56,595.01 at the time of writing.

Bitcoin’s dominance is currently 40.88%, decreasing 0.22% over the day.

The worldwide crypto market capitalization is currently $2.61 trillion, increasing 0.14% over the last day. Whereas the total crypto market volume over the last 24 hours is $113.31 billion, which makes a 7.43% decrease.

2. UAE's Flagship Empire NFT Marketplace now supports Ethereum & Ethereum based tokens. They also have plans to expand into Solana & other major  crypto exchanges in 2022.

3. South Korea Delays Plans to Tax Crypto to 2023

The proposed tax would have levied a 20% tax on crypto gains made in a one-year period over KRW 2.5 million (US$2,122), starting Jan. 1, 2022.

Lawmakers from both ruling and opposition parties are trying to appeal to voters in their 20s and 30s, who are more likely to be cryptocurrency investors and therefore against the proposed tax, ahead of the presidential election in March, local analysts have said.

4. Bitcoin News
Marathon Expands Miner Deployment Deal With Compute North, Aims to Power 100K+ Miners With Renewables 

Marathon Digital Holdings, a Nasdaq-listed bitcoin mining-based company, has announced a new deal with Compute North, a data center service provider, to host more than 100,000 mining machines in its data centers. The deal is an expansion of an earlier deal that secured positioning for 73,000 mining machines in Texas. Now, the new partnership secures hosting for all of these machines, to be powered with renewables.

5. FACEBOOK UNBANS BITCOIN ADS IN HUGE BOOST FOR CRYPTO INDUSTRY

Meta, formerly called Facebook, has reversed its ban on cryptocurrency ads across its platforms.

The move will give bitcoin exchanges, wallets and other crypto companies access to more than 3 billion people around the world who use the firm’s various platforms, which include Instagram, WhatsApp and Facebook itself.

6. Former UK Treasury Secretary Said Crypto Could Give UK Unique Edge Over European Countries After Brexit

Philip Hammond, former UK Treasury Secretary argued that cryptocurrencies could give the UK a unique edge over European competitors after Brexit.

In a recent interview, he said that the UK government needs to think about using cryptocurrencies to improve the country’s financial situation.