Bitcoin price nosedives below $34,000 mark as Global Crypto market crashes

Here are today’s top trending stories from the world of technology. News that we feel every tech enthusiasts should keep a tab on.

1)

Bitcoin price nosedives below $34,000 mark as Global Crypto market crashes

Price of Bitcoin, the world’s most popular cryptocurrency, crashed below the psychological mark of $34000 during the weekend. In fact, last week turned out to be a horror for all cryptos including Ethereum, which was down by more than 10%. Bitcoin’s price is currently trading below the $33000 mark in the global crypto market. According to reports, Bitcoin lost $200Bn market capitalization due to heavy sell off in the crypto market. Analysts have pinned the blame on the ongoing bloodbath in the global stock market and increase in interest rates by major economies in the world.

2)

Instagram to start offering NFT feature integration from this week

Starting this week photo sharing platform Instagram will reportedly start offering NFTs to its users. These NFTs will be  based on blockchain networks used by cryptos like Ethereum, Polygon, Solana and Flow. The Meta owned platform will offer this feature as a pilot project and currently this feature will be restricted only to the U.S market. According to reports, Instagram won’t be charging its users for sharing and posting NFTs. Notably, earlier this month, Mark Zuckerberg had already promised about launching the NFT feature on Instagram.

3)

Elon Musk denies rumors that Trump convinced him to buy Twitter  

Elon Musk has flatly denied the U.S. media report that it was former U.S President Donald Trump who convinced him to buy the microblogging platform. Reacting to The New York Times report, Tesla CEO said “this is false. I’ve had no communication, directly or indirectly with Trump.” Rumors of Musk and Trump’s nexus are largely based on the speculation that Tesla CEO will reactivate Trump’s Twitter. However, the former U.S. President has already clarified that he has no plans to come back to Twitter and will remain restricted to his newly launched social media app Truth Social.

4)

India’s Edtech Unicorn Vedantu lays off 120 employees

Vedantu, one of India’s leading edtech unicorns, has laid off 120 staff members including 80 permanent employees. However, the Pune based startup said that this layoff was part of the normal retrenching exercise and it will hire more employees in the coming months. Notably, last month another leading unicorn edtech startup Unacademy had also removed 600 employees. Earlier this year there were strong rumors that edtech giant Byju’s was in talks to acquire Vedantu. A rumor that was later strongly refuted by the Pune based startup.         

5)  

Google Cloud forms Web3 team to tap the booming Crypto & Blockchain market

Google’s cloud computing unit has formed an independent Web3 team as the tech giant looks to capitalize the booming crypto and blockchain market. The tech giant said that this team will help developers in developing the efficient Web3 applications. For all those who don’t know, Web3 is considered to be the next big revolution in the world of internet. The buzz around this technology has grown tremendously ever since Facebook’s foray into the Metaverse technology.