1) Market News Today's Cryptocurrency Prices:
Markets in the Red as BTC and ETH Drop
The worldwide cryptocurrency market capitalization plummeted 4.49 percent to $1.75 trillion in the last 24 hours, while trade volumes fell 3.43 percent to $83.23 billion. The entire volume in the decentralised finance (DeFi) area was $14.08 billion, accounting for roughly 16.92 percent of the 24-hour bitcoin trading activity. Stablecoins accounted for $69.85 billion in total volume, or 83.92 percent of the 24-hour cryptocurrency trading volume. Bitcoin's market share declined 0.57 percent to 42.44 percent on March 5 morning, and it was trading at $39,047.24. Bitcoin plummeted 4.43 percent to Rs 31,20,419 in rupee terms, while ethereum fell 2.6 percent to Rs 2,09,584.5.
2) Japan will examine how Russia can use cryptography to avoid sanctions.
According to the Japan Times, Japan's Financial Services Agency and the Japan Virtual and Crypto Assets Exchange Association are looking at ways to prevent crypto transactions on the country's sanctions list. The announcement comes after an unnamed official spoke to a local news outlet in the aftermath of Russia's invasion of Ukraine, which has resulted in widespread and sweeping sanctions against the Russian state and its interests. "We are closely watching the situation of settlements such as crypto assets and SPFS in order to secure the effectiveness of sanctions against Russia," Japan's Finance Minister Shunichi Suzuki told parliament. The minister was referring to Russia's "System for Transfer of Financial Messages," a state-equivalent to the international SWIFT system.
3) Shake Shack Is Providing Bitcoin Using Their Burgers.
Burger chain Shake Shack has announced that until March, it will repay customers 15% of the comparable total in bitcoin for every transaction made with a Cash App debit card. According to CMO Jay Livingston, the campaign isn't in reaction to patrons clamouring for crypto-with-cheese. It's a simple approach to test if bitcoin has any traction with the chain's consumers, he told The Wall Street Journal: "You're constantly trying to lay your bets on those things that actually will be relevant and not spend resources on the ones that won't." It isn't a completely new region for restaurants to explore. In November, Robinhood and Burger King partnered together to give consumers one dogecoin (a cryptocurrency that is traded for bitcoin).
4) 'Anything That Can Become an NFT Will Become an NFT,' says Polygon Metaverse Lead.
In a metaversal universe, where do non-fungible tokens (NFTs) fit? Everywhere, according to Brian Trunzo, Metaverse Lead at Polygon Studios. In an interview with Decrypt at ETHDenver, Trunzo said, "I think anything that can become an NFT will become an NFT." Trunzo claims that the way to a world like "Snow Crash" or "Ready Player One" requires that "everything within those worlds will have to be NFTs." Polygon Studios is developing NFTs, games, and metaverse projects on the Ethereum sidechain of the same name. The venture studio stands to gain more as NFTs grow more popular in the metaverse. Trunzo, on the other hand, is very positive on one section of the market.
