US-Based Porsche Dealer Starts Accepting Crypto As Payment; Bitcoin Rises

BitPay, a US-based Bitcoin payment service provider has announced that Porsche Towson, a Porsche dealer serving the Baltimore area in Maryland, the US, has started accepting payments for their cars using cryptocurrencies, such as Bitcoin, Ethereum, and Shiba Inu, among others.

Bitpay said in a tweet: “Turn your #crypto into precious metal at Porsche Towson. Now accepting Crypto as payment for vehicle purchases.”

Elsewhere, global crypto asset management platform, Mudrex, on Tuesday announced a 2,400 per cent increase in the platform’s user base for the first quarter of 2022. According to the company, Indian users contributed the most to this exponential growth with more than 80 per cent of the growth from India. 

“Right from products like Mudrex Coin Sets to initiating crypto as a service, Mudrex is committed to consistently contributing to the growth of the ecosystem and the platform itself,” Mudrex said in a press release.  

“With the help of our crypto experts, we spent most of last year developing and designing products that would not only bring attention to crypto, but push users to consider crypto as a long-term asset class. India is an important market for us, and it has been receptive to all the innovations that Mudrex has ushered in. Hence, the spike in our India user base is exciting news for us. Looking ahead, product development and education will remain at the core of Mudrex’s offerings, and we expect to hit one million investors on our platform by early Q4,” says Mudrex CEO and co-founder, Edul Patel. 

Crypto Prices

The price of Bitcoin in the cryptocurrency market rose by 2.40 per cent in the last 24 hours, and it was trading at $41,756.30 at 4:45 pm IST. Its dominance in the crypto market is currently at 40.96 per cent, up by 0.01 per cent in the last 24 hours, according to Coinmarketcap.com. 

In the last 24 hours, Ethereum (ETH) was trading at $3,121.82, up 2.23 per cent, while Binance Coin (BNB) rose 1.333 per cent in the same period, and was trading at $426.70. Solana (SOL) was up by 6.29 per cent to $109.56, while Cardano (ADA) was up by 3.12 per cent to $0.9641. 

Meme Coins

Among meme coins, Dogecoin was up 3.72 per cent, and it was trading at $0.1456 at 4:30 pm on Coinmarketcap.com. Its rival, Shiba Inu, was up by 1.35 per cent, and it was trading at $0.00002559. Samoyedcoin was up by 5.35 per cent, and trading at $0.01947, while Dogelon Mars was up by 32.35 per cent, and was trading at $0.000001046. 

Overall Scenario

According to Coinmarketcap.com, the global crypto market cap was at $1.94 trillion, an increase of 2.41 per cent in the last 24 hours, while the total crypto market volume was $87.69 billion, down by 1.72 per cent. 

Nurse Cat (NCAT) became the biggest gainer, recording a rise of 671.14 per cent. It was trading at $0.0008436 at 4:30 pm, according to Coinmarketcap. In contrast, SafeDogecoin (SAFEDOGE) witnessed the maximum loss, falling 99.71 per cent. It was trading at $0.000000000581.