Crypto Market Highlights: NFT News
- The ApeCoin was introduced to the NFT community on March 16. ApeCoin is an ERC-20 governance and utility token used within the APE ecosystem. The total supply of ApeCoin is permanently fixed at 1 billion tokens. 15% of ApeCoin supply is airdropped to BAYC MAYC holders, 47% to the treasury, 16% to the Yuga Labs + Charity, 8% to the founders of BAYC, 14% to the launch contributors. ApeCoin DAO’s council members include Reddit co-founder Alexis Ohanian, FTX’s Amy Wu, Sound Ventures’ Maaria Bajwa, Animoca’s Yat Siu, and Horizen Labs Dean Steinbeck. Token holders will be able to vote on decisions in the DAO, while the special council “will carry out the decisions of the community.”
- Mutant Ape has joined the $1 billion all-time sales club. MAYC’s sales volume in the last 24 hours increased by more than 95%, making it the NFT collection with the highest 24-hour sales. According to CryptoSlam statistics, MAYC became the fifth NFT collection to reach $1 billion in all-time sales on March 16. With almost $4 billion in all-time sales, Axie Infinity leads the chart, followed by CryptoPunks, Bored Ape Yacht Club (BAYC), and Art Blocks. MAYC has experienced this dramatic sales volume jump due to the creator Yuga Labs’ acquisition of rights to CryptoPunks and Meebits from Larva Labs.
Crypto Market Highlights: Metaverse News
- After announcing its new partnership with the metaverse-builder firm, HSBC becomes the first global financial services provider to enter The Sandbox. HSBC will acquire a plot of LAND, virtual real estate in The Sandbox metaverse, which will be developed to engage and connect with sports, esports, and gaming enthusiasts. The agreement opens the door for other global institutions to continue innovating in Web3 as consumer adoption demands more robust experiences in the metaverse through decentralized and gamified offerings.
Crypto Market Highlights: Exchanges News
- Binance now has a license to operate in Dubai. The Virtual Asset License enables the world’s biggest crypto exchange to operate within Dubai’s ‘test-adapt-scale’ virtual asset market model as a base for expansion into the region. “Binance will be permitted to extend limited exchange products and services to pre-qualified investors and professional financial service providers. All licensed VARA service providers will be monitored progressively to open access to the retail market,” Binance said. In addition, Binance will establish a blockchain technology hub in the Dubai World Trade Centre in cultivating fresh talent and creating a thriving blockchain ecosystem.
- FTX announced it is partnering with AZA Finance to expand the adoption of Web3 and digital currencies throughout Africa. AZA Finance is a pioneering force in African fintech, having launched the African first digital currency exchange. Together the companies will work to expand Web3 in Africa in five key ways: Connect African markets to the global Web3 economy by building vital infrastructure; Create pathways for African users to participate and learn about the Web3 economy, including educational resources & networking opportunities; Make it easier than ever to deposit and payout in African currencies on FTX.com, including mobile money and local bank account integrations; Launch African currency and digital currency trading pairs; Onboard African NFTs and artists to the FTX NFT marketplace.
Crypto Market Highlights: Legal News
- Ukraine’s President Volodymyr Zelensky signed legislation on virtual assets, subjecting this market to the National Securities and Stock Market Commission and the National Bank of Ukraine’s supervision (NBU). The legislation establishes the legal status, classification, ownership, and regulators of virtual assets and the registration requirements for crypto service providers. Ukraine’s National Commission on Securities and the Stock Market will oversee the market. Exchanges will be able to function legally, and banks will open accounts for them.
Crypto Market Highlights: General News
- Diem developers have raised $200M to build their new project, Aptos Blockchain. On March 15, Aptos announced that it had raised $200 million in a strategic round led by a16z crypto with participation from Multicoin Capital, FTX Ventures, Paxos, Coinbase Ventures and many other VCs. The Aptos team said that they would not license or utilize any of Silvergate’s Diem intellectual property because they built their own blockchain. The company’s value was not revealed, but according to the founders, it is expected to be in the billions of dollars since it is well “into unicorn territory.”
- AGVE, the non-custodial money market and lending protocol Agave’s token, fell more than 20% on Tuesday after the firm announced investigating an exploit that made the protocol lose over $11 million. Another DeFi lending protocol, Hundred Finance, was also attacked on Tuesday. “Unfortunately, Hundred and Agave have both been exploited on Gnosis chain today,” the project team wrote. “The underlying reason for the hack is that the official bridged tokens on Gnosis are non-standard and have a hook that calls the token receiver on every transfer. This enables reentrancy attacks,” according to blockchain security researcher Mudit Gupta. The attacker’s address sent over 2,100 ETH to a crypto mixer, valued at over $5.5 million, in an attempt to launder the stolen tokens.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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