EU to Roll Out Energy Efficiency Labels for Blockchains - Top Crypto Updates

EU to roll out energy efficiency labels for blockchains

The European Union is set to develop an energy efficiency label for blockchains. It has introduced this measure as part of wider plans to control the energy consumption of the Information and Communications Technology (ICT) sector. The EU's Markets in Crypto Asset Regulation (MiCA) will also force some market participants to make disclosures about their environmental and climate footprint.

Crypto prices today: Bitcoin falls 2%, ETH down 2.8%

Bitcoin is currently trading at $19,219.7, a decline of 2% over the previous day. Ethereum is down 2.83% over the last 24 hours to $1,296.92. Solana fell 3.65% to $29.89, while Cardano is trading lower by 3.6% at $0.357. Avalanche (AVAX) fell 4.46% to $15.52. The global crypto market cap stands at $925.02 billion, a 1.18% decline over the previous day.

Bluesky unveils roadmap for decentralized social networks

Twitter co-founder Jack Dorsey's Bluesky initiative launched a website for its decentralized social media protocol, known as the AT Protocol. It will allow users of social networks built on top of the protocol to protect their private data and avoid corporate algorithms that often promote controversy to keep users hooked.

Bluesky also opened a waitlist for its app, which is framed as the "ideal browser” to access the AT Protocol network.

Crypto will play vital role in payments disruption: Walmart CTO

"Crypto falls into one of the major areas of payments disruption and will become an important part of how customers transact,” said Suresh Kumar, the global Chief Technology Officer (CTO) at retail giant Walmart. He also suggested that part of that disruption will happen in the metaverse— on live streams in your social media apps.

At the end of last year, Walmart filed several new trademarks related to cryptocurrency and the metaverse.

Moola Market loses over $10M in market manipulation attack

Celo-based lending and borrowing protocol Moola Market saw over $10 million worth of tokens stolen after a market manipulation attack. However, the attacker returned the tokens later. The attackers manipulated the prices of Moola’s native MOO tokens to borrow collateral against their positions– effectively draining the protocol.