Cryptocurrency news: XRP down by 2.8%, Binance Coin up by 1.9%

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Six of the top ten cryptocurrencies were trading in green on Monday. Binance Coin showed the highest gain of 1.96% to $473.09. XRP declined by 2.85% to $1.10. Alt Coin Cardano fell by 1.15% to $2.15. While Solana and Polkadot inclined by 1.09% and 1.16% to $161.42 and $42.97 respectively. The world’s oldest and largest cryptocurrency Bitcoin rose by 1.38% to $62,000.91, while the second largest token Ethereum increased by 0.43% to $3,869.89. Others like Tether USDT and USD Coin slipped marginally by 0.05% and 0.03%. In terms of ranking all cryptocurrencies stayed in the same position in the last 24 hours.

Cryptocurrency prices

Chingari’s $GARI launched by Salman Khan

Bollywood superstar Salman Khan launched $GARI, the first ever crypto token from the micro-content, short video app Chingari. With this, the actor also announced his collaboration with the app as a brand ambassador for its NFT marketplace and token reward programme.

He said at the occasion that the creators are shaping the future of entertainment. Also, the motivation for creators will increase further to create newer and more engaging videos on the Chingari app, with the incorporation of the $GARI reward programme, he said.

With this foray, Chingari has reportedly become India’s first social network to issue crypto tokens. It has been offering customized videos, an extensive song library, hyper realistic AR filters and around 50 million monthly active users and almost 85 million dates to download. The token will be built in partnership with Solana.

The Securities and Exchange Commission (SEC) of the United States will more or less likely allow the first Bitcoin futures Exchange Traded Fund (ETF) to start trading this week, according to Bloomberg.com.

This comes after a long push from the $6.7 trillion ETF industry, that lasted for close to a decade and could be a watershed moment for cryptocurrencies. It also added that the SEC will most likely not block products from start trading next week.

Previously, the SEC has blocked Bitcoin ETF applications. The SEC also said that the current proposals from ProShares and Invesco are based on futures contracts and provides significant investor protections, as it is filed under mutual fund rules.