Union Bank of Philippines To Launch Crypto Trading Service, Shiba Inu Falls Over 25%

Union Bank of Philippines will soon be launching their crypto trading service. Meanwhile, Shiba Inu was down 25.55 per cent.

Outlook Money Team

Updated on: 22 January 2022 7:34 pm

bitcoin

Union Bank of the Philippines has planned to offer trading and custodial services for cryptocurrencies to capitalise on fast adoption of digital tokens in the Asian nations, Bloomberg reported.

In the meantime, the price of Bitcoin was down by 9.70 per cent and was trading at $35,104.98 at 5:30 pm IST, while its dominance in the crypto market is currently at 41.67 per cent, up by 1.39 per cent in the last 24 hours.

Ethereum (ETH) was trading at $2,428.89, with a fall of 14.55 per cent in the last 24 hours, while Binance Coin (BNB) was down by 15.15 per cent over the same period and was trading at $362.27. Solana (SOL) down by 18.91 per cent to $98.87 and Cardano (ADA) was down by 15.21 per cent to $1.03.

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Meme Coins

All major meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), Dogelon Mars (ELON), and Samoyedcoin (SAMO) have plunged in the last 24 hours.

Dogecoin was down by 16.21 per cent while trading at $0.1286 at 5:30 pm. Rival Shiba Inu was down by 25.55 per cent and was trading at $0.00001907, Dogelon Mars fell by 25.68 per cent and was trading at $0.0000007895, while Samoyedcoin was trading at $0.01545 and recorded a fall of 11.15 per cent.

Overall Scenario

The global crypto market cap was $1.61 trillion, registering a decrease of 12.06 per cent in the last 24 hours, while the total crypto market volume was $150.52 billion, up by 42.67 per cent.

Mars Floki Inu (FLOKI) became the biggest gainer, recording a rise of 1401.72 per cent; it was trading at $0.000000004216 at 5:30 pm. On the other hand, Bitcoin($BITC) witnessed maximum loss, falling 100.00 per cent; it was trading at $0.0000000002819.

Latest Update

Adidas Originals and Prada are bringing a first-of-its-kind non-fungible token (NFT) collaboration that will feature user-generated art, NDTV reported.

Moreover, Assen Vassilev, Bulgaria’s deputy prime minister for EU Funds and Minister of Finance, said the EU member nation is exploring options for rolling out a crypto payment mechanism, according to Cointelegraph.com.