Coinbase Joins Fortune 500 List Of Largest US Corporations, Bitcoin falls

Coinbase has entered the list of Fortune 500 companies. It is the first cryptocurrency company to join the exclusive club that lists the biggest companies by revenue. The Nasdaq-listed crypto exchange posted revenues of over $7.8 billion in fiscal 2021, placing it 437th on the 2022 Fortune 500 list.

Fortune editor-in-chief Alyson Shontell singled out the transaction as one of “many pandemic winners” who “thrived under the bizarre circumstances of COVID”, and then flourished.

Walmart led the list for the 10th year in a row, with revenues of roughly $573 billion, followed by Amazon and Apple, with revenues of almost $470 billion and $365 billion, respectively. With $16.1 trillion in revenue, the Fortune 500 list accounts for two-thirds of the US GDP.

In another news, Balenciaga will allow its American customers to buy clothes, shoes, bags, and other products using Bitcoin and Ether. Customers will also be able to pay in cryptos when making the purchases from the brand’s official website. The company is expected to extend its offer to other regions, too.

The previous year, Philipp Plein International AG had introduced 15 cryptocurrencies as payment options in its stores and online. Two of those assets are the leading ones by market capitalisation – Bitcoin and Ether. CEO Philipp Patrick Plein is a keen proponent of the crypto sector and is even an HODLer.

Crypto Prices

The price of Bitcoin in the cryptocurrency market fell by 4.02 per cent in the last 24 hours, and it was trading at $29,235.56 at 5:45 pm IST. According to Coinmarketcap.com, its dominance in the crypto market is currently at 44.39 per cent, up by 0.10 per cent in the last 24 hours.

In the last 24 hours, Ethereum (ETH) was trading at $1,962.91, down by 5.44 per cent, while Binance Coin (BNB) decreased by 3.64 per cent during the same time period, and was trading at $322.13. Solana (SOL) was down by 9.41 per cent to $49.32, while Cardano (ADA) was down by 7.27 per cent to $0.5136. 

Meme Coins

Dogecoin was trading at $0.08333 on Coinmarketcap.com at 5:45 p.m. IST, and was down by 5.36 per cent. Its rival, Shiba Inu, was down by 6.57 per cent and was trading at $0.00001171. Samoyedcoin was down by 1.68 per cent, and it was trading at $0.005776, while Dogelon Mars was down by 6.23 per cent and was trading at $0.000000482.

 

Overall Scenario

According to Coinmarketcap.com, the global crypto market cap was at $1.26 trillion, a decrease of 3.97 per cent in the last 24 hours, while the total crypto market volume was $80.12 billion, an increase of 19.27 per cent.

PAPPAY(PAPPAY) was the biggest gainer, gaining 329.22 per cent. It was trading at $0.000001132 at 5:45 pm IST, according to Coinmarketcap. In contrast, Pixel Swap (PIXEL) witnessed the maximum loss and fell by 93.60 per cent. It was trading at $0.004782.