The crypto market keeps declining to continue its new-year plunges. BTC fell below $40,000 price on Monday morning for the first time since September. But it’s currently trading at about $41,500.
BTC still dominates the market with a 40.33% share. But the most-recognized crypto lost about 0.16% of the market cap in 24 hours. Likewise, ETH keeps struggling to maintain its $3,000 market value.
But the global market cap increased by 0.13% to value $1.97 trillion in 24 hours. However, the market volume took a massive hit. A 22.95% decrease in volume covered a mere $71.09 billion trading.
DeFi covered 18.69% of the total volume, valuing $13.29 billion. But the stablecoin volume checked $54.76 billion to cover 77.04% of the total market.
Nonetheless, well-founded companies are still making a move towards crypto assets.
PayPal confirmed the idea of creating its own stablecoin on Friday. The senior VP of PayPal’s crypto and digital currency revealed the issue to Bloomberg. The company enabled crypto trading through accounts across the US in 2020.
Stablecoins are more like an offshoot of digital currency. The crypto remains tied to a stable, reserved asset to reduce market volatility.
Meantime, video game giant retailer GameStop decided to enter the NFT marketplace. A report on the Wall Street Journal focused on GameStop’s NFT exploration plan.
The company has already hired 20+ people to develop an NFT-inspired marketplace. Also, the retailer keeps looking to establish a supportive cryptocurrency partnership.
GameStop’s stock took a considerable jump on Friday, following the news.
On the contrary, Mozilla Foundation had to step back from its crypto-donation acceptance. However, the project is only paused to keep on hold for now.
The non-profit company announced to accept crypto assets as donations previously. But the organization received a total backlash from many sides. Even Jamie Zawinski, the co-founder of Mozilla, termed the decision a shame in his tweet.
In turn, Mozilla announced to halt its current plan on Thursday. Not to mention, they didn’t seem to turn their back from the cryptos right away.