It has been a busy day in terms of news, so let us catch you up on the latest and greatest.
Today’s Agenda:
- Market Watch
- Highlights of the Day
- Animoca Brands Set to Launch a NFT Launchpad
- Project of the Day
- Crypto Corner
- NFT News
- Business and Political Insights
Market Watch
Top Gainers
- Nervos Network ($CKB): +1.1%
- First Digital USD ($FDUSD): +0%
- Dai ($DAI): +0%
Top Losers
- Core ($CORE): -28.9%
- dogwifhat ($WIF): -23.3%
- Wormhole ($W): -22.4%
Trending Crypto Sectors/Categories
- Asset-backed Tokens
- Layer 1 (L1)
- Stablecoin Protocol
Total Crypto Market Cap – 2.546 Trillion
Fear and Greed Index – 79
Top NFT Sale
- CryptoPunks #6419 Sold for 69 ETH
Highlights of the Day
Animoca Brands Set to Launch a NFT Launchpad
With the global adoption of Web3 technology on the rise, the significance of NFTs is evolving, opening up fresh opportunities for creators and ventures. Within this realm, Animoca Brands Japan, a vital arm of Animoca Brands, has emerged as a leading figure, dedicated to nurturing innovation and expansion within the NFT space. In line with this commitment, the project has unveiled plans to launch a NFT launchpad, positioned to amplify the presence and influence of Web3 initiatives and innovators worldwide.
“Redacted” NFT Launchpad
The NFT launchpad by Animoca Brands Japan is designed to empower Web3 projects and creators with the tools and support needed to succeed. Scheduled to launch in the summer of 2024, the launchpad has applications open for projects seeking to leverage the power of NFTs. Selected projects will gain access to Animoca Brands’ vast network of 400+ companies and 700 million users, assisting with sales strategies and marketing campaigns for maximum exposure.
Project of the Day
VeChain
VeChain ($VET) pioneers blockchain for real-world enterprise solutions, using Internet of Things (IoT) and blockchain to combat counterfeiting, optimize supply chains, and ensure data integrity. Its platform enables businesses to track products, enhancing transparency and trust for consumers.
In terms of price movements, VeChain ($VET) currently boasts a market cap exceeding $3.1 billion, with its price hovering around $0.04. As the team behind VeChain initiates developmental and community-building efforts, particularly amidst Bitcoin’s halving event, anticipations arise for a potential rally. Should such a scenario unfold, the price of $VET could surge to new heights. However, factors like regulatory uncertainties may exert downward pressure on the price, potentially leading to a resistance level around $0.036. Nonetheless, with a solid thesis grounded in real-world application, the long-term outlook for $VET remains bullish, promising continued innovation and growth in the cryptocurrency landscape.
Crazy Day in Crypto
- BTC and many other cryptocurrencies are dumping today, leading to an almost $200 billion decrease in the total crypto market cap over the last 24 hours.
What’s Poppin with NFTs?
- According to CryptoSlam, the NFT market has witnessed a significant decline, with monthly sales volumes plummeting to around $1.4 billion from a peak of $6 billion in early 2022.
Business Talks & Political Insights
- Former security engineer Shakeeb Ahmed has been sentenced to three years in prison for hacking two DEXs, stealing over $12 million, highlighting efforts to combat cybercrimes in the crypto space and emphasizing the consequences for those involved in such offenses.
- Hong Kong is on the brink of approving Spot ETFs for both Bitcoin and Ethereum, with the anticipated decision scheduled for next Monday, signaling a potential milestone for the region’s cryptocurrency market.
- Gold defies typical market predictors by reaching a new all time high of $2,431 per ounce, while Bitcoin retraces over the past week.
