After making an all-time high of $58,640, Bitcoin underwent a sharp correction and is trading at $54,958. Meanwhile, the second-largest cryptocurrency, Ethereum, is trading close to $1,810.
Today was an epic day in Bitcoin history as its price dropped over $8,000, which is almost a 15% correction from the all-time high. Besides this, if BTC sustains between $42,000 to $44,000 support, then upward continuation is possible. However, if BTC loses this support area, then it could result in further correction towards $37,500 and $34,000.
Let’s find out some interesting crypto news for today.
Crypto.com announced the burning of 70 billion CRO tokens, which is the largest token burn in history. According to the tweet, 59.6 billion will be burned today, and the remaining 10.4 billion will be burned monthly as it gets unlocked from smart contracts. Moreover, this token burn will increase the circulating supply of CRO to over 80% from the current 24%. Additionally, the remaining 5.9 billion CRO supply will be allotted to mainnet block rewards to secure the network and for the ecosystem’s development. In addition, the team also announced that Crypto.org Chain will launch on mainnet on March 25th, with a staking reward of 20% APY for active participants. This Crypto.org Chain will be used to offer DeFi and non-fungible tokens on top of it.
PAID Network partnered with Litentry to enhance the user authentication process. With this partnership, PAID will get access to Litentrys identity verification and credit computation features. Moreover, Litentry is a decentralized identity aggregator that provides real-time DID data of identity owners across multiple blockchains and dApps. This amalgamation will help PAID to integrate DID on its dApp, which will perform user authentication while creating a user profile. Furthermore, this PAID dApp will have innovative features such as escrow, insurance features, reputation scoring, and much more.
Legia Warsaw, in partnership with Chiliz, announced the upcoming launch of its fan token. Moreover, Legia Warsaw is one of the most thriving football clubs and the first Polish club to launch a fan token. With this launch, the $LEG Fan Token owners will enjoy lots of benefits, such as voting for multiple club decisions, VIP rewards, exclusive club and sponsor promotions, and many more. Further, the maximum supply of $LEG Fan Tokens will be 5 million.
Syntropy | Elrond Partnership To Integrate Multi-Cloud Environment Automation Tool for Elrond Validators
Syntropy integrated with Elrond validators to manage nodes in a multi-cloud environment. As per the tweet, this union allows Elrond testnet validators to deploy nodes via the Syntropy stack. Moreover, it will increase the quality of Elrond node operation by leveraging Syntropy’s enhanced tools. Additionally, the team has also suggested a set of software tools that will allow anyone to begin non-custodial staking operations for friends and customers.
The last bit of crypto news on our list is Dao Maker, which collaborated with Orion Protocol to become a liquidity partner. Moreover, Dao Maker is the second partner to utilize Orion Launchpad liquidity. As per the tweet, this will allow DAO Maker to facilitate token distribution, fundraising, and listing on the DAO Maker platform. Additionally, it will create a new revenue stream for DAO Maker’s incubated project transactions and streamline its launchpad process. Collaboratively, the team will also develop an onramp for the HUBs of respective platforms, which will allow new users to access the project tokens instantly.
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