Crypto News 27/6: Market cap nears $1 trillion, surge in 1BTC wallets & blockchain fashion
The crypto market cap neared $1 trillion yesterday – reaching the closest it has got since the June 13 crypto crash.
Major cryptocurrencies are up today with the Bitcoin price gaining 7% over the past week, Ethereum up 15% and BNB up over 16%. Despite the start of a new bear market in crypto, this is some good news in crypto today.
Below are the highlights of this good news today: covering wallets with over 1BTC, how fashion brands are trusting in the blockchain, and the EverGrow Coin model for secure passive income from crypto.
Crypto News: Small investors achieve project ‘One Whole Coin’
There was a time when you could buy 1 Bitcoin for a dollar, cash in hand, like a Pokemon card or football sticker.
By 2013, 1 Bitcoin was worth over $100 – and in November the biggest cryptocurrency on the market reached an all-time high of over $69,000. For investors who were late to the Bitcoin game, owning 1 BTC in your wallet is a significant milestone.
With Bitcoin at its lowest price since December 2020, wallets holding 1BTC or more increased over 13,000 in the seven days leading to June 20.
Crypto news: Luxury brands turn to the blockchain
More than 20 luxury brands have joined a blockchain project in a global fight to end counterfeiting.
In April 2021, the luxury brand conglomerate LVMH joined with Prada and Cartier to establish the non-profit Aura Blockchain Consortium. The blockchain creates a digital record for luxury goods that exists on a decentralised ledger and can be used as a unique digital identifier for authenticity.
There are more than 17 million products registered on the platform today.
Blockchain use cases such as these are expected to grow throughout 2022 – there’s a lot at stake, with luxury brands losing as much as $100 billion to counterfeits throughout 2017.
Crypto news: EverGrow Coin to become ‘no 1’ for crypto passive income
Passive income is a dream millions around the world are working to achieve.
The DeFi movement in crypto seemed a vanguard in the search for passive income generation with Anchor Protocol offering 19% APY on stablecoins and Celsius offering 18% on major cryptocurrency deposits. As we know, the former crashed and the latter is still in turmoil.
EverGrow Coin emerged from the crypto crash in June with a different approach: stablecoin reflections.
EverGrow Coin charges a 14% transaction tax with 8% distributed in Binance USD (BUSD) to investors. A transaction tax means no reliance on yield generation and no risk of collapse during a bear market – only fewer rewards.
For example, using one of the EverGrow Coin calculators, a $1,000 dollar investment in EverGrow Coin today (EGC 7 billion) would net you $51 in BUSD in a year at today’s trading volume ($112,000).
But if daily trading volume remained at $3 million – as in April this year – you could earn $1,375 in BUSD in a year on your $1,000 EGC investment.
EverGrow Coin only launched in September last year and has rewarded more than $37 million to investors to date. The project will launch an NFT marketplace, content subscription platform and metaverse integration in the next few weeks to ensure higher trading volume once the bull market returns.
