Top Cryptocurrency News Today: The biggest moves in Bitcoin and more

The global cryptocurrency market capitalisation rose 1.55 percent over the last 24 hours to $1.73 trillion while the trading volume over the same period skyrocketed by 1,06,435.67 percent to $79.22 trillion. While decentralised finance (DeFi) accounted for 0.01 percent of the 24-hour cryptocurrency trading volume at $8.57 billion, stablecoins made up around 99.98 percent of the 24-hour trading volume at $79.20 trillion. Bitcoin's market dominance dipped 0.07 percent to 41.75 percent and the currency was trading at $38,033.97 today. Read more here.

Facebook had announced its grand crypto plan on June 18, 2019: a "borderless global currency" called Libra, backed by a "collection of low-volatility assets like bank deposits and government securities, in currencies from stable and reputable central banks". In other words: a stablecoin. On the same day, Facebook announced a crypto wallet called Calibra to hold your Libra. Two years and seven months later, Facebook is called Meta, Libra is called Diem, and Diem is reportedly selling off all its assets. Read more here.

In 2021, crypto exchanges chose a new marketing battleground: professional sports. Binance, Coinbase, Crypto.com, and FTX all inked multiple sports sponsorship deals—but none of them went in quite as aggressively as FTX. In a span of eight months, FTX signed deals with the Miami Heat (for stadium naming rights), Major League Baseball (official crypto exchange, including an FTX logo patch on every umpire's uniform), the Golden State Warriors (international rights), the Washington Wizards and Capitals (official crypto exchange and NFT partner), and giant esports team TSM (naming rights). Read more here.