Bitcoin and Ether in red, Cardano biggest loser
Major cryptocurrencies traded in the green early on June 4 as the global crypto market cap decreased 3.50 percent to $1.22 trillion over the last day. Total crypto market volume over the last 24 hours declined 12 percent to $61.66 billion. Total volume in DeFi stood at $5.35 billion, 8.68 percent of the total crypto market 24 hour volume. The volume of all stable coins was $52.18 billion, which is 84.63 percent of the total crypto market 24 hour volume.
New York imposes two-year moratorium on new crypto mining firms
In a bid to address environmental concerns over proof-of-work (PoW) mining, The New York State Senate has passed a Bill that imposes a two-year moratorium on new crypto mining firms that use non-renewable power. The Bill, which was passed by the state Assembly last month, also sought pausing renewables for existing operating permits. The Senate Bill S6486D, which was sponsored by Senator Kevin Parker, was passed in a 36-27 win, and will now be forwarded to Governor Kathy Hochul for ratification. Read details here
Crypto market crash: Investments slow down, but trust in BTC, ETH remains
With the recent cryptocurrency market correction, investors in India have taken a breather from stacking their portfolios. However, in the long term, they remain bullish on the top two cryptos, Bitcoin and Ethereum. After Terra’s debacle that led to LUNA trade at $0 last month, other tokens too corrected heavily. This was in tandem with the plunge in US tech stocks. Read full story
Johnny Depp Ethereum NFTs Surge After Actor Wins Defamation Suit Against Amber Heard
An NFT collection featuring artwork by Johnny Depp has seen its price jump after the actor won a defamation suit against ex-wife Amber Heard yesterday. The 3,850 “Never Fear Truth” NFTs have a floor price of 0.52 ETH (around $944) as of this writing. The collection first launched in January with a starting price of 0.70 ETH. Read more here