Binance license and CBDC in India. What happened in the crypto market while everyone was sleeping?

Smartphone with crypto coins

Binance cryptocurrency exchange received a license from an Italian regulator, Indian authorities shared plans to bring CBDC to market, RTFKT (Nike) took control of 10 Ethereum Name Service domains – these and other news in our review.

Behaviour of cryptocurrencies – capitalization leaders

Bitcoin (BTC), according to CoinMarketCap, started the new working week with growth. The coin is trading at $31,500. The cryptocurrency’s 24-hour low was recorded at $30,345, with a high of $31,880.

btc chart

Ethereum, the second most capitalized cryptocurrency, also started the day with a rise. As of this writing, the coin is trading at $1,960.

eth chart

In the top 10 most capitalized cryptocurrencies, Cardano recorded its best result in 24 hours (+24.85%) and for the week (+25.42%). Bitcoin has the second result (7.48%) for the week.

According to CoinGecko, Terra Luna Classic (+29.9%) is among the top 100 most capitalized cryptocurrencies and Evmos (+111.3%) is among the best performing over 24 hours and over the week. During the last 24 hours, Chain (-3.4%) was the most actively losing in value. Terra Luna Classic (-38.7%) had the largest losses during the week.

Binance license and CDBC in India – top news on May 31

  • The Indian authorities plan to take a differentiated approach to bringing its central bank digital currency (CBDC) to market. The information, according to News 18, appeared in a prepared report from the country’s central bank.

Indian regulators plan to bring CBDC to market step by step. One of the first steps will be the launch of a digital rupee pilot.

  • Popular Binance cryptocurrency exchange has received approval from Italian regulators to operate in the country as a crypto service provider. The information appeared on the trading platform’s blog.

Binance logo with Italian flag

Binance noted that the document allows the crypto exchange to legally offer crypto products to customers from Italy. The regulator’s approval, according to the company, will also help the trading platform to consolidate its business in the country, including through opening new offices and building a team to work in the local market.

  • The Web-3 division of sporting goods maker Nike, RTFKT, has acquired 10 domains of the Ethereum blockchain wallet address, hash and other machine identifier naming service, Ethereum Name Service (ENS). Earlier, the organization also bought the domain dotswoosh.eth for 19.72 ETH (about $35,000). Information about it appeared in the media.

Nike did not disclose the reasons for acquiring the Ethereum domains. Users of the network assumed that the purchase was necessary for the organization to issue subdomains to work with NFT in the future. Recall that in November 2021, it was reported online that Nike was creating a metaverse. It is likely that the purchase of domains may be part of the company’s digital world development strategy.