Crypto Catch: DFI.Money token tanks amid Ponzi concerns

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Crypto Catch: DFI.Money token tanks amid Ponzi concerns

DFI.Money, crypto news
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Highlights

  • The Money (YFII) crypto is in focus after the token lost more than 29% of its value on Wednesday
  • Fashion house, Balenciaga will begin accepting crypto payments, particularly in BTC and ETH
  • Bitcoin lost slightly from yesterday, losing 0.32 per cent to sit slightly above US$29,677

The DFI.Money crypto is in focus after the token price plunged more than 29% on Wednesday morning. The trigger for DFI.Money price fall may have been the social media discussions over whether it is a Ponzi scheme. In addition, Binance had recently announced to delist its YFII token from Binance Futures. However, the reason behind this decision is still not clear. Some users speculated that it might be due to Ponzi scam fears. 

In other news, Fashion house, Balenciaga will begin accepting crypto payments, particularly in BTC and ETH. It is the most eccentric haute couture brand, particularly famous in recent years for its unorthodox and scandalous collections. The company will accept crypto at its flagship stores in Los Angeles and New York. Online crypto payment will be accepted through the company’s website. 

Also Read: Decoding DIMO crypto: What are its key features and is it safe?

Moving on. It will be interesting to see if Australia’s new Prime Minister, Anthony Albanese, will focus on regulating of cryptocurrencies as one of the most important policy concerns in his first 100 days in office. It is anticipated that the Australian government will continue the work that it has already begun concerning the regulation of cryptocurrencies.

Market News

Bitcoin lost slightly from yesterday, losing 0.32 per cent to sit slightly above US$29,677. 

Meanwhile, Ethereum fell 1.47 per cent from yesterday to US$1,946. And as for today’s winners and losers. Pixel Swap gained 337.73 per cent in the past 24 hours, while United Bitcoin climbed 232 per cent over the same period. 

Meanwhile, TrusterCoin dropped 99.95 per cent overnight, while SwinCoin fell 99.25 per cent. 

Winners and Losers

winners and losers in cryptocurrency trading 

Image Source @ 2022 Kalkine Media® 

Data Source: CoinMarketCap.com, based on top 100 cryptos. 

Note: Growth from the 24 hours prior to 12:30pm AEDT 

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