Crypto Market Overview April 6th | Dex-Trade

Crypto Market Overview April 6th | Dex-Trade

Binance Transferred Crypto Donations to the UN for Humanitarian Aid for Refugees from Ukraine

The United Nations Refugee Agency has accepted the first-ever cryptocurrency donation of $2.5 million in Binance USD (BUSD) stablecoins from Binance Charity, which will be used to rehabilitate and support Ukrainian refugees fleeing to European countries from the nightmare that the Russians have staged in Ukraine war criminals. According to the Office of the United Nations High Commissioner for Refugees (UNHCR), more than 10 million people have been forced to leave their homes in Ukraine so far. The charitable stablecoin fund will be used to provide legal, social and medical assistance to these people. “This generous support will make a life-changing difference for families forced to flee, and more importantly, it shows families that a caring and committed global community is stepping forward to help during their darkest times.” — UNHCR Chief Executive Officer in the United States Marie Gray said. Russian invasion of Ukraine has created a massive humanitarian crisis in the region. Ukrainian government has repeatedly asked the international community for help, and cryptocurrency donors from all over the world have already been able to raise more than $100 million, which has proven to be vital for the country. With this money, the Ukrainian authorities were able to organize evacuation measures, rehabilitate the victims and save hundreds of thousands lives.


World's Largest Bitcoin Hodler Buys Over 4,000 BTC More

Software developer and crypto analytics provider MicroStrategy announced that it has purchased another 4,167 BTC at a price of $45,714 for a total of $190.5 million through one of its subsidiaries. The company says that the current round of buying digital gold was planned, but not the entire amount of Bitcoins was bought at the same time. The exchange of dollars for BTC took place from February 15 to April 4, and the cost indicated in the press release is the average purchase price for the specified term. By the way, MicroStrategy is the world's largest single holder of Bitcoins, which, according to data for today, holds 129,218 crypto-gold coins (which is equivalent to about $3.97 billion). And according to the company's CEO, Michael Saylor, the average the price of each coin for the entire time the company purchases BTC is $30,700. An interesting point: MicroStrategy buys Bitcoin not only from corporate profits, but also from borrowed funds, successfully combining these methods in different conditions. The current purchase was made just for $205 million borrowed from Silvergate Capital cryptobank. And the company made its first planned purchase in 2020.


It’s Forbidden to Mine Bitcoin in Abkhazia Till The End of This Year

The government of the partially recognized republic of Abkhazia announced that due to problems with energy consumption and energy saving, the ban on cryptocurrency mining in the state will not be lifted in the near future and will last until the end of this year. Over the past few months, problems with the energy supply of civilian infrastructure have noticeably worsened in Abkhazia. Since 2020, the country has had a law prohibiting mining for a limited period (usually a year), but each time it had to be extended. A few months ago, a large-scale failure occurred in the energy system of the republic, and the responsibility for this incident was laid on unregistered miners. After this incident, such failures occurred regularly in the power grid of Abkhazia, which was the reason for the extension of the complete ban on mining. By the way, in parallel with the ban on the mining of cryptocurrencies, authorities of the republic were promised to turn off the Internet for miners, and especially “criminal elements” were arrested and their equipment was confiscated. For example, in September last year, authorities seized about 6,000 cryptocurrency miners.