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
- NYSE Explores 24/7 Trading Model
- Meta Unveils Horizon OS for VR Collaboration
- Animoca Brands x Square Enix
- Project of the Day
- Crypto Corner
- Market Sentiment & Insights
- Business & Political Insights
Market Watch
Top Gainers
- Zebec Protocol ($ZBC): +31.1%
- Pepe ($PEPE): +17.2%
- Sei ($SEI): +11.5%
Top Losers
- Tokenize Xchange ($TKX): -3.2%
- Toncoin ($TON): -3.2%
- Maker ($MKR): -2.4%
Trending Crypto Sectors/Categories
- Real World Assets (RWA)
- Coinbase Ventures Portfolio
- Base Meme Coins
Total Crypto Market Cap – 2.588 Trillion
Fear and Greed Index – 73
Top NFT Sale
- Ethlizards #2061 Sold for 180 ETH
Highlights of the Day
NYSE Explores 24/7 Trading Model
The New York Stock Exchange (NYSE) is exploring the possibility of adopting a 24/7 trading model, potentially allowing stocks to be traded around the clock. The NYSE has begun seeking feedback from market participants on the idea, indicating a shift towards broader trading hours. This move aligns with recent trends in cryptocurrency trading, which operates continuously, and the increased activity from retail investors during the COVID-19 pandemic.
A New Era for Stock Trading?
If implemented, round-the-clock trading would be a significant departure from the traditional market structure, where trading typically follows set hours. This shift could offer greater flexibility and access for investors, but it may also raise concerns about market stability and regulation. As the NYSE explores this new model, it remains uncertain whether other major stock exchanges will follow, or if the traditional trading framework will continue to prevail.
Meta Unveils Horizon OS for VR Collaboration
Meta has announced plans to open up its virtual reality (VR) operating system, Meta Horizon OS, to other technology companies, allowing them to create and release their own VR headsets powered by Meta’s platform. This development could lead to a diverse range of VR headsets catering to various needs, from gaming and entertainment to productivity and exercise.
Early Partnerships
Among the first companies to collaborate with Meta on this initiative are Asus, Lenovo, and Microsoft. Asus is developing a high-performance gaming headset based on Meta Horizon OS, aimed at serious gamers. Lenovo plans to use the platform to create mixed-reality headsets focused on productivity, learning, and entertainment. Meanwhile, Microsoft, which previously collaborated with Meta on bringing Cloud Gaming to the Meta Quest, is designing a limited-edition headset inspired by the Xbox.
Animoca Brands x Square Enix
Japanese game publisher Square Enix has partnered with Animoca Brands Japan to enhance the global marketing efforts for Symbiogenesis, a Web3 game developed by Square Enix. This collaboration is seen as a significant step towards integrating blockchain technology with mainstream gaming, sparking excitement within the Web3 gaming community.
Partnership Details
Under this partnership, Animoca Brands Japan will apply its expertise in global NFT sales and marketing to boost Symbiogenesis’s visibility and reach. The company will also leverage its network of portfolio companies and partners to explore collaborative opportunities that will help expand the game’s influence. An additional key component of the partnership is Animoca Brands Japan’s support for Symbiogenesis through its upcoming NFT Launchpad, expected to increase the game’s exposure and drive sales for its NFT collection.
Project of the Day
Immutable
Immutable ($IMX) is a layer-2 scaling solution designed to support NFT infrastructure on the Ethereum blockchain. With the goal of driving the next generation of Web3 gaming, ImmutableX seeks to enhance the experience for both users and developers. It offers seamless gameplay, ultra-fast transaction speeds, and gas-free, fully carbon-neutral NFT minting.
In recent price movements, $IMX has seen significant growth, with its market cap exceeding $3.5 billion and its price hovering around $2.4. Over the past 7 days, the price has gained approximately 25%, breaking a resistance level around $2.2. This bullish trend has attracted positive attention, indicating strong demand for the token. However, despite this upward momentum, there are cautionary signs. The current overbought condition of $IMX suggests that buyers might be reaching a point of exhaustion, indicating a potential price correction in the short to mid-term.
Crazy Day in Crypto
- My Pet Hooligan launched its $KARRAT token, now listed on Coinbase, with a market cap surpassing $130 million and a fully diluted valuation exceeding $1.02 billion.
- Shiba Inu has secured $12 million from non-U.S. VC partners to support the development of its new blockchain, which will feature fully homomorphic encryption (FHE) technology and the governance token $TREAT.
- Grayscale plans to launch a new Bitcoin mini-trust with a remarkably low fee of 0.15%, which would undercut the Franklin Bitcoin ETF (EZBC), currently the cheapest spot bitcoin ETF with a 0.19% fee.
- Melania Trump released a customizable necklace called “Her Love & Gratitude” for Mother’s Day, priced at $245, with purchasers also receiving a digital collectible minted on the Solana blockchain.
Market Sentiment & Insights
- UAE leads the Middle East in cryptocurrency adoption, with nearly 75% of its residents owning Bitcoin and a 166% increase in crypto trading volume in the region over the past year.
- At a recent rally in Michigan, presidential candidate Robert F. Kennedy Jr. proposed making the entire U.S. budget visible on blockchain for transparency and accountability.
- The stablecoin sector is expanding rapidly, with established stablecoins gaining more usage and new entrants diversifying the market, indicating that stablecoins will play a more crucial role in digital asset markets in the future.
- Bitcoin mining stocks soar as the halving prompts major miners like Riot and Marathon to ramp up their operations.
Business Talks & Political Insights
- A fake letter supposedly written by Senator Elizabeth Warren recently circulated online, proposing a 1% wealth tax on cryptocurrency holdings.
- Hong Kong regulators recommend establishing a self-regulatory body to manage licensing and compliance for the city’s crypto industry, aiming to balance strong growth with responsible oversight.
