Manchester City Signs Deal With Crypto Exchange OKX; Bitcoin, Ethereum Slip

The deal with Manchester City will cover men’s and women’s teams and e-sports. Price of Bitcoin fell 4.06 per cent in the last 24 hours while Ethereum fell 6.02 per cent. Meme coins too saw a drop

Outlook Money Team

Updated on: 4 March 2022 6:28 pm

In cryptocurrency market, the price of Bitcoin was down by 4.06 per cent in the last 24 hours.

Cryptocurrency exchange OKX, formerly OKEx, has signed a multi-year partnership with English Premier League champion Manchester City, Coindesk reported. The deal is OKX's first foray into soccer sponsorship and will bring it an in-stadium presence at the club's Etihad and Academy Stadia. The deal will cover Manchester City’s men’s and women’s teams as well as the esports operations. According to a recent Nielsen report, spending in sports is expected to reach $5 billion by 2026.

In February, rival Manchester United had signed a sponsorship agreement with Tezos reported to be valued at £20 million ($27 million) a year.

Meanwhile, WazirX NFT Marketplace has launched an initiative called Nano NFT, where creators can set up their own smart contracts, making the entire process of minting non-fungible tokens (NFTs) more seamless and less tedious and technical, Livemint reported.

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In the cryptocurrency market, the price of Bitcoin (BTC) was down by 4.06 per cent in the last 24 hours, while it was trading at $41,657.33 at 5:00 pm IST. Its dominance in the crypto market is currently at 42.95 per cent, down by 0.15 per cent in the last 24 hours, according to Coinmarketcap.com.

Ethereum (ETH) was trading at $2,741.35, with a fall of 6.02 per cent in the last 24 hours, while Binance Coin (BNB) was falling by 2.56 per cent over the same period and was trading at $397.69. Solana (SOL) was down by 6.39 per cent to $93.10 and Cardano (ADA) was down by 3.80 per cent to $0.8845.

Meme Coin

Among meme coins, Dogecoin was down by 3.29 per cent, and was trading at $0.1281 at 4:30 pm. Rival Shiba Inu was down by 2.56 per cent in the last 24 hours and was trading at $0.00002503. Dogelon Mars was down by 2.93 per cent and was trading at $0.0000007887, while Samoyedcoin was trading at $0.01984, recording a fall of 6.44 per cent in the last 24 hours.

Overall Scenario

The global crypto market cap was at $1.84 trillion, registering a decrease of 3.49 per cent in the last 24 hours, while the total crypto market volume was $88.81 billion, up by 0.31 per cent.

Stars War Cat (SWCAT) became the biggest gainer, recording a rise of 1958.51 per cent. It was trading at $0.00004489 at 5:00 pm, as per Coinmarketcap data. In contrast, The Spook Inu (SINU) witnessed the maximum loss, falling 100.21 per cent, it was trading at $0.0000000004065 shows Coinmarketcap data.