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Daily Crypto News Dec 4, 2021: Top 3 crypto updates for today

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Bitcoin is a currency or a digital asset? A question that has bugged all the investors and the traders all this while. But it seems that Michael Saylor, the owner of the company that holds $3.6 billion worth of Bitcoin has finally had an answer to it. Although it is entirely his perception he has shared some light on how he wishes to see Bitcoin in the future. Iota is all geared up to launch its Web3 ecosystem and has already started to act on the same.

Let’s quickly go through the latest cryptocurrency news before diving into the top losers and gainers for the day. 

Quick Crypto News Roundup! 

 Daily Crypto News  Dec 4, 2021

Iota ready to launch decentralized smart contract platform to expand web3 ecosystem

Iota announces the launch of decentralized layer 1 smart contract network Assembly that shall accompany ASMB token. This is to accelerate the expansion of smart contracts across various sectors including non-fungible tokens (NFTs) and decentralized finance (DeFi). 

Assembly uses the Iota network’s existing architecture which is a directed acyclic graph structure to operate adjacently as an interoperable bridge helping to reap the benefits such as robust security as well as scalability. Read more about Iota’s venture in detail. 

Source: Cointelegraph 

Michael Saylor believes Bitcoin is the World’s Reserve asset 

Michael Saylor, the founder of Microstrategy, considers Bitcoin as the best asset which is better than the US dollar. However, he doesn’t believe it shall work to buy coffee. 

He firmly believes that Bitcoin is an asset and not a currency as he says that one wouldn’t want to buy coffee with his Bitcoin but with a currency. He considers BTC as the world’s reserve asset whereas the US dollar is the world currency. 

Microstrategy has evolved more than an organization and has also doubled its holdings of Bitcoin in the fiscal fourth quarter of the year. Currently, the company owns 121,044 bitcoins worth $3.6 billion. Read more on how viewing Bitcoin as an asset rather than a currency makes life easier and what is Michael Saylor’s theory of the same. 

Source: Cointelegraph

Justin Sun, the founder of Tron, purchased Joker inspired BAYCTron for $15 million 

Justin Sun, founder of the Tron protocol has purchased a Joker-inspired artwork by BAYCTron. It is one of the most popular as well as the first NFT collections on the blockchain today. The amount for which Justin Sun bought the NFT was as high as $15 million or 150,000,000TRX. 

With such a high amount, BAYCT #6666 has become the most expensive NFT sale on the Tron platform to date. Justin Sun is a huge believer in the NFT or the digital art sector and considers non-fungible tokens as the enablers of development. Although this sudden purchase of the NFT art took the entire BAYCTron community by surprise however everyone in the community was aware that this NFT was one of his favorites. Read more about Justin Sun’s detailed purchase and what makes this Joker-inspired NFT so special in detail. 

Source: News BTC

Crypto Market Trend December 4, 2021 

Here is a quick summary of the top crypto gainers and losers for the day. 

Top 3 Crypto Gainers 

Cryptocurrency  Price (latest by December 4, 2021)  Change in % 
Tether (USDT) ₹86.67 9.18%
Binance USD (BUSD) ₹86.41 8.79%
USD Coin (USDC) ₹86 8.35%

*Prices are latest by 11 AM December 4, 2021.*

Top 3 Crypto Losers 

Cryptocurrency  Price (Latest by December 4,  2021)  Change in % 
MyNeighborAlice (ALICE) ₹1309.93 28.87%
ICON (ICX) ₹101.57 25.10%
Flamingo (FLM) ₹32.57 25.01%

*Prices are latest by 11 AM December 4, 2021.*

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