Bitcoin Hits Lowest Level Since August 📉

Bitcoin has officially slumped below $40,000. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ Market Activity Total Market Cap $1.78 (-10.05%) 24 Hour Volume $110.16B (+120.01%) Notable Movers[(PERP) $9.23]( (+4.14%) Notable Movers (DeFi)[(API3) $4.92]( (+13.48%) Bitcoin Dominance 40.44 %[(+0.28)]( Bitcoin Price[(BTC) $38,445.06 (-8.63%)]( Ethereum Price[(ETH) $2,794.67 (-11.21%)]( Cardano Price[(ADA) $1,19 (-10.93%)]( Editor's Note No More Fake Apes Twitter has done it — they’ve made it possible to actually verify that your profile picture of a Bored Ape is an Ape that is truly owned by you. While this isn’t available to all tweeters (in fact, it’s limited to Twitter Blue subscribers, which is only live in certain regions) it’s a pretty darn cool step in NFT adoption. And not adoption in the buzzword sense, but real adoption. Twitter has almost 400 million users at last count, and now any of them will be able to see NFTs when doing their nightly aimless scrolling. They’ll know it’s an NFT because NFT profile pics are now hexagons, and clicking on them brings up more info about that NFT. How exclusive, right? I’m starting to get the feeling that hexagons will be the new blue checks of 2022… Today’s Top Stories Check out [CoinMarketCap Alexandria]( for tech deep dives, analysis, daily news and easy-to-understand guides on how crypto works! [Today’s Top Stories ] plunges to lowest level since August]( Bitcoin plunged to $38,560.45 early on Friday — its lowest level since August. The world's biggest cryptocurrency has fallen by 6.68% over the past 24 hours. Ether, Binance Coin, Cardano and Solana all fared far worse, with some altcoins shedding 9% of their value. ETH neared $2,800 at one point. Excluding stablecoins, the top 30 cryptocurrencies by market cap are in the red. BTC has been closely correlated with the tech-heavy Nasdaq 100 — and on Thursday, this index entered correction territory. York City mayor gets crypto paycheck]( The new mayor of New York City is receiving his first paycheck today — and it's automatically being converted into Bitcoin and Ether. Department of Labor rules mean Eric Adams cannot directly receive his paycheck in crypto, meaning the funds have to go through Coinbase. He's being paid about $260,000 a year for his role as mayor — and given he gets a paycheck every two weeks, his gross pay is $9,924.66. Adams has dodged a bullet given BTC and ETH's plunge happened hours earlier. allows NFTs to be used as profile pics]( Twitter has finally launched a new feature that allows non-fungible tokens to be used as profile pictures — but there's a catch. The social network's latest crypto-friendly tool is only accessible to those who have subscribed to its Twitter Blue service. Users can directly connect crypto wallets to their profiles, and official NFT avatars are shown in a hexagon instead of a circle. Elon Musk has described the new feature as "annoying," and believes Twitter should focus on tackling crypto scams instead. loans offered to El Salvador firms]( Businesses in El Salvador will soon be able to access loans backed by Bitcoin. Interest rates could be between 6% and 10%, and this is being described as a vast improvement on the status quo. Many companies in the Central American country are unbanked, making it hard to access capital. Some entrepreneurs end up in the hands of loan sharks where annual interest rates average 2,300%. As an example, a business that borrows $100 for three weeks could end up paying interest of $15 a day. Thanks for reading! Have a great day — more news tomorrow! [Facebook]( [Twitter]( [Instagram]( [Telegram]( Written by Molly Zuckerman and Connor Sephton Was this email forwarded to you? [Sign up here](. WANT MORE CRYPTO BITES? [Sign up here]( for Daily Newsletters, Promotions and Events and Prices [App Store]( [Google Play]( [ADVERTISE]( | [CAREERS]( | [FAQ]( © 2022 CoinMarketCap [Update Settings]( | [Unsubscribe]( [coinmarketcap.com]( CoinMarketCap OpCo LLC, 8 The Green, STE 6703, Dover, Delaware 19901, United States