European Central Bank To Accelerate Digital Euro CBDC Efforts; Bitcoin Falls 8%, Shiba Inu 3%

Christine Lagarde, President of the European Central Bank, says she supports the acceleration in research and development on digital currency (CBDC) for digital euro. American e-commerce giant eBay suggested that it might start a digital wallet service to allow users to access various digital assets.

At 9.44 AM, the global crypto market cap fell by 3.92 percent to $1.73 trillion. According to Coinmarketcap data, the global crypto volume also fell by 2.96 percent to $89.36billion.

Prices for Cryptocurrency

Bitcoin (BTC), which is the oldest cryptocurrency in the world, traded at $38,656.84. This was lower than the previous 24 hours by 5.18 percent.

Ethereum (ETH), second-largest cryptocurrency in terms of market capitalisation, traded lower at $2,549.50 by 4.08 percent.

Other major coins were also affected: Cardano (ADA), $0.7912 by 3.98 percent, Algorand(ALGO) 5.22 percent at $0.7132 and Binance Coin (BNB). 4.22 Percent at $368.62. Solana 4.17 Percent at $81.67. Polkadot DOT fell 1.15per cent to $17.03.

Today’s top gainer is QATAR 2022 Token (FWC), up 2462.52 percent at $0.000000000262121 Spook Inu, (SINU), was the top loser at $0.0000000002958.

President @Lagarde about the ECB’s most recent monetary policy decisions.

Watch the full press conference here https://t.co/zcGKMTnuvc pic.twitter.com/2WJZRTm2C2

– European Central Bank (@ecb). March 10, 2022

Meme Coin and DeFi Prices

Dogecoin (DOGE), was at $0.1158, 2.62 percent lower. Its volume-to-market cap ratio is 0.0319. The price of Rival Shiba Inu, (SHIB), was also down 3.43 percent at $0.00002214.

Dogelon Mars (ELON), was trading at a loss of 4.56 percent at $0.0000006924. Floki Inu was also down 3.33 percent at $0.00002921. Samoyed Coin (SAMO), however, lost 3.3 percent at $0.01851.

YFI (yearn.finance), which trades at $18,657.26, suffered a loss of 4.76 percent, while Terra (LUNA), was up unexpectedly by 1.53 percent at $96.35. Avalanche(AVAX) fell 0.52 percent to $74.37, Uniswap(UNI) lost 3.57% to trade at $8.55 and Aave (AAVE) fell 5.35 percent to $116.03.

The most recent updates

In October 2021, the European Central Bank’s (ECB), digital euro task force began its two-year-long investigation into a Euro CBDC.

ECB wants to speed up research and development because of recent changes in the global situation, such as the Russia-Ukraine conflict.

Coindesk quoted Lagarde saying that she believes we need to be a bit ahead of the curve in order to stay on top. I believe we can speed up the work. That is something I would certainly support.

eBay, once the dominant e-commerce platform, is now trying to regain its lost ground and be a leader among Gen-Z and millennials.

They also started NFT selling and buying on their platform in May 2021. They have now hinted at launching a Digital Wallet’ in the second quarter of 2022. Coindesk quoted Jamie Iannone as saying that eBay’s CEO said, “eBay continues to look at new payment forms to add now we have the rollout global payments complete.”