Meta’s Instagram Move boosts Web Awards | Tech Reddy


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CoinDesk Market Index (CMI)

1,018.17 -0.5 0.0

Bitcoin (BTC)

$20,272 -158.2 0.8

Ethereum (ETH)

$1,544 -16.6 1.1

S&P 500 daily close

3,734.61 -25.1 0.7


$1,630 -15.3 0.9

10 Year Investment

4.15 0.1

BTC/ETH prices per CoinDesk Indices; Gold is a COMEX spot price. Prices are due at 4 pm ET

Important Information

Standard Meter, the parent of Facebook and Instagram, announced that it will use Arweave’s proprietary storage product to store creators’ digital collections. That led to a 60% increase in price in AR, the original Web3 platform, and AR’s market capitalization increased to $838 million, making it the third-largest Web3 platform in the world. The benefit broke out in the metaverse: The tokens of the Web3 platforms Filecoin and Storj gained 10% and 25%, respectively.

Crypto exchange Huobi Global, one of the largest crypto projects in Asia, appeared to confirm its intention to move to the Caribbean by repeating the announcement of Justin Sun, the founder of the blockchain network Tron and a consultant for the company. The exchange, which was established in China in 2013, is now based in the Seychelles.

On paper, billionaire Sam Bankman-Fried The cryptocurrency empire is divided into two parts: FTX, its payment, and Alameda Research, its trading firm – two giants in their industry. However, a separate financial document shows that Alameda’s balance sheet contains billions of dollars in FTT, the original symbol of FTX, blurring the line between the two companies.

Chart of the Day: Level 2 Surge



  • The adoption of layer 2 blockchain, led by Ethereum, has increased recently, and the number of transactions processed by these platforms has reached a record of 5.78 million.

  • Data from Orbiter.Finance, shown above, measures the number of transactions processed by the layer 2 network over the past 12 months.

  • Networks like Arbitrum and Optimism promise fast, scalable and secure networks, with lower fees, compared to Ethereum’s main network.

Omkar Godbole

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Sectoral classifications are provided by Digital Asset Classification Standard (DACS), developed by CoinDesk Indices to provide a reliable, comprehensive and standardized indexing system for digital assets. The CoinDesk Market Index (CMI) is a broad-based index designed to measure the market-weighted performance of the digital asset market under conditions of trading and exchange.


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