Current news from the crypto market

We have compiled some developments from the altcoin market that are reflected on the agenda today.

FLOKI listed on Binance.US fell at the same rate after a sharp rise

FLOKI, one of the dog-themed crypto-assets, has seen a 40% increase in value in the last 24 hours after Binance’s listing on its US subsidiary. FLOKI will be traded on Binance.US with USD and USDT pairs.

Following the news, FLOKI fell close to 30% from its peak price on profit sales after rising 75% in value to $0.00005 in yesterday’s trades. Cryptocurrency is currently finding buyers in the $0.000035 band with a 25% increase in value from the price level where it started to rise.

VeChain meets MiCA requirements with current technology

The European Parliament has overwhelmingly approved the Crypto Asset Markets (MiCA) regulation and the Transfer of Funds regulation. These regulations will provide clarity and regulatory certainty for the crypto-asset industry in the EU, while the region will become the largest jurisdiction with a comprehensive crypto law.

Blockchain company VeChain continues to work with European government agencies and global certification experts to set the standards for the crypto industry. While the EU’s MiCA law is expected to come into force next year, VeChain’s current structure and technology and its compliance with the current law draws attention.

Visa to recruit new hires on crypto roadmap

Payments giant Visa has announced that it will hire new software engineers to deliver new payment solutions for the crypto market.

Visa’s Head of Cryptocurrency Cuy Sheffield said on Twitter that the company has an ambitious crypto roadmap and will focus on the adoption of public blockchain networks and fixed cryptocurrency payments in the coming period.

In this context, the company wants to have a say in this field by adding experienced software engineers to its staff.

Fund investment for staking after update on Ethereum at record levels

The Ethereum network registered a record amount of ETH investment, exceeding $1 billion post-update, which unlocked staking and made the platform liquid staking. According to Dune Analytics data, investors have invested 571,950 ETH in staking contracts. This stood out as the largest weekly token entry in Ethereum staking history.

Among the catalysts that led to record inflows is the re-investment of the token rewards earned by investors as a result of string activity. Interest in ETH staking continues to grow as the liquidity issue in asset locking to the network is resolved with the completion of the Ethereum network’s transition to a proof-of-stake model.

Ripple CEO tips on exiting the US

As the litigation process between Ripple and the SEC continues, the company continues to explore potential opportunities in other countries. There is increasing speculation that Ripple may migrate to more crypto-friendly jurisdictions such as Coinbase (NASDAQ:COIN).

Recently, Coinbase announced that it will set up an Offshore exchange in Bermuda after completing the licensing process. On the other hand, Brad Garlinghouse, CEO of Ripple, stated last year that if the ongoing lawsuit with the SEC is lost, the company may continue its activities in another country. Recently, there have been some rumors that the company has increased its activities in other countries.

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