Finland Looks To Donate Seized Bitcoins (BTC) To Ukraine; Crypto Market Mixed

The Finland government will reportedly donate to Ukraine 1981 Bitcoins (BTC) seized by its customs officials in connection with several criminal operations.

In other news, Goldman Sachs has made its first Bitcoin-backed loan product. They have allowed the borrower a cash loan using Bitcoins as collateral, reported Bloomberg.

Cryptocurrency Prices

The global crypto market cap decreased by 0.3 per cent to $1.8 trillion at 8.50 am. However, the global crypto volume was up by 14.08 per cent to $95.48 billion, as per Coinmarketcap data. 

Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $39,453.65, lower by 0.04 per cent in the last 24 hours. Ethereum (ETH) was, however, up by 0.78 per cent at $2,911.33.

"Bitcoin and Ether have rebound, major cryptos are mostly in the green. Bitcoin is trading within a tight trading range with support at $37,500 and initial resistance at $43,000. Overall, the momentum signals have weakened," says Gaurav Dahake, CEO and founder, Bitbns.

Among other significant coins, Cardano (ADA) was down by 1.05 per cent at $0.8357, Algorand (ALGO) was trading with a gain of 3.58 per cent at $0.6917, Binance Coin (BNB) was up by 3.18 per cent at $403.66, Solana (SOL) was trading with a loss of 2.03 per cent at $97.58, and Polkadot (DOT) was down by 0.96 per cent at $16.84.

Today’s top gainer was Tom Coin (TMC), which was up by 3472.32 per cent at $0.000000001356. The top loser was BiggerMINDS
(MIND), which was down by 100 per cent at $0.000004951.

Meme Coin And DeFi Prices

Dogecoin (DOGE) was down by 3.19 per cent at $0.1366. Its volume to market cap ratio stands at 0.05401. Rival Shiba Inu (SHIB) was down by 1.91 per cent at $0.00002282.
Dogelon Mars (ELON) lost 4.08 per cent to trade at $0.0000009916, Floki Inu (FLOKI) fell 5.87 per cent at $0.0000196, but Samoyed Coin (SAMO) was up by 4.56 cent at $0.01655. 

In the DeFi segment, YFI (yearn.finance) was up by 0.63 per cent at $17,953.66, Terra (LUNA) was trading with a loss of 3.1 per cent at $87.35.l, Avalanche (AVAX) lost 4.72 per cent at $66.55, Uniswap (UNI) was down by 1.99 per cent to trade at $8.09, and Aave (AAVE) was down by 5.62 per cent to trade at $163.73.

Latest Updates
 
As per a government source quoted by local Finnish media organisation Helsingin Sanomat, there is no legal framework in Finland to make donations of this special type. Due to this, if the Bitcoins are first converted to cash and then donated, several additional bureaucratic and legal processes will follow, which will only delay the entire process further. And due to this delay, the actual donation size could shrink due to market price fluctuations of Bitcoin.