Latest Market News
The 21st century Robinhoods aren’t stealing from or robbing one group to help the other. They are finding novel ways to encourage those with money to collectively get behind the causes they believe in.
You can now run a node on your smartphone and earn coins like Minima coin, powered by Minima protocol, a decentralized blockchain network that is all-inclusive, scalable, secure and resilient.
As we move through Q3, a number of projects are moving ahead with continued development, and this week’s choices are set to benefit from significant updates and announcements that should strengthen their market positions and benefit their communities. The news should also result in increased amounts of attention to each respective currency over the coming weeks.
The NFT frenzy continues – the latest high-profile example on how much people are willing to spend on digital collectibles comes courtesy of Yuga Labs and the Bored Ape Yacht Club NFT collection they created. Yesterday, Yuga Labs auctioned off a lot of 101 NFTs from the Bored Ape Yacht Club (BAYC) series through renowned auction house Sotheby’s. The auction netted a whopping $24.39 million, surpassing even Sotheby’s upper-end estimate of $18 million.
Earlier today, the Algorand Foundation announced Viridis, a 150 million ALGO fund (about $300 million at the time of writing) to support the growth of decentralized finance on the Algorand blockchain.
The demand for cryptocurrency derivatives has exploded in recent years. Over $100 billion in crypto derivatives are traded on a busy day, rivalling the daily volume traded in the New York Stock Exchange. There's also a direct implication on the price movement of cryptocurrencies as a result of these trades. Eightcap steps in to provide a new home for Crypto derivative traders by providing an outstanding offering that includes the most extensive crypto derivative library paired with ultra-low spreads and fast withdrawal options.
The FTX cryptocurrency exchange continues striking high-profile endorsement deals in the world of sports. The exchange has announced a long-term partnership with basketball player Stephen Curry, who plays for the Golden State Warriors NBA franchise. According to FTX, the deal involves Curry becoming a shareholder of FTX Trading Limited, and the exchange will also be partnering with charity initiatives organized by Curry’s Eat.Learn.Play foundation. The financial terms of the deal haven’t been disclosed.
Cryptocurrency exchange Coinbase says that U.S. securities regulator SEC is threatening to sue the company over a lending product that it was getting ready to launch. Coinbase’s planned Lend product would start off by offering users a 4% APY for lending out their USDC holdings through the platform.
The Bitfinex cryptocurrency exchange is expanding to the tokenized securities sector with the launch of a new platform called Bitfinex Securities. The platform will be open to both retail and institutional investors, although retail investors will not be able to participate in all of the capital raises facilitated by the platform.
September 7 is a historic day for Bitcoin – the world’s biggest cryptocurrency is now a country’s legal tender for the first time in its history. Today, El Salvador’s “Bitcoin Law”, which was passed by the country’s Legislative Assembly in June, comes into effect. The law gives Bitcoin legal tender status alongside the US dollar, which means that it can be used to pay taxes as well as goods and services in the country.
