Binance Joins Hands With Elon Musk In Twitter With $500 Million Purse, Bitcoin Rises

Binance, a global cryptocurrency exchange, will invest $500 million in Twitter alongside Elon Musk. The amended 13-D, filed to the Securities and Exchange Commission, revealed a $500 million commitment from Binance. Along with Binance, other companies, such as venture capital firm Sequoia has pledged $800 million, while Fidelity and a16z have offered $316 million and $400 million, respectively, thus putting their trust in Musk. After this announcement, the CEO of Binance, CZ, tweeted “Crypto Twitter”. 

Furthermore, fashion brand Gucci will begin accepting cryptocurrency in some of its locations across United States from this month. They also have plans to roll out the program to other North American stores this summer, according to various media reports.

 According to a report by Vogue Business, in-store payments will be made using a QR code that customers can scan with their crypto wallet, sent by Gucci via   email. The stores will accept various digital currencies including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dogecoin, and Shiba Inu.

Crypto Prices


The price of Bitcoin in the cryptocurrency market rose by 1.24 per cent in the last 24 hours, and it was trading at $39,485.63 at 5:30 pm IST. According to Coinmarketcap.com, its dominance in the crypto market is currently at 42.03 per cent, down by 0.10 per cent in the last 24 hours.

In the last 24 hours, Ethereum (ETH) was trading at $2,923.85, and it was up by 1.86 per cent, while Binance Coin (BNB) rose by 3.41 per cent in the same period, and was trading at $404.43. Solana (SOL) was up by 4.46 per cent to $92.36, while Cardano (ADA) was up by 4.63 per cent to $0.8608.

 Meme Coins

Dogecoin was trading at $0.1346 on Coinmarketcap.com at 5:30 p.m., up 1.50 per cent. Its rival, Shiba Inu, was up by 1.93 per cent, and was trading at $0.00002131. Samoyedcoin was down by 2.86 per cent, and it was trading at $0.01421, while Dogelon Mars was up by 2.23 per cent, and it was trading at $0.0000009324.

Overall Scenario

According to Coinmarketcap.com, the global crypto market cap was at $1.79 trillion, an increase of 1.76 per cent in the last 24 hours, while the total crypto market volume was at $92.31 billion, a decrease of 11.16 per cent.

PETAWARS(PWARS) was the biggest gainer, gaining 3,149.44 per cent. It was trading at $0.00008524 at 5:30 pm, according to Coinmarketcap. In contrast, Pentagon Finance (PENT) witnessed the maximum loss and fell by 99.36 per cent. It was trading at $0.0493.

 


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