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
- Yuga Labs Announces the Launch of Project Dragon
- Azuki x Hallway
- Ferrari Announces Crypto Payments for EU Customers
- Project of the Day
- Crypto Corner
- Market Sentiment & Predictions
- Business & Political Insights
Market Watch
Top Gainers
- Flow ($FLOW): +5.4%
- Jupiter ($JUP): +2.6%
- Solana ($SOL): +1.6%
Top Losers
- Lido DAO ($LDO): -10.7%
- Brett ($BRETT): -9.4%
- Fantom ($FTM): -9.1%
Trending Crypto Sectors/Categories
- Cat-Themed
- Solana Meme
- Zero Knowledge (ZK)
Total Crypto Market Cap – 2.434 Trillion
Fear and Greed Index – 71
Top NFT Sale
- CryptoPunks #3188 Sold for 30 ETH
Highlights of the Day
Yuga Labs Announces the Launch of Project Dragon
Yuga Labs is opening the gates to Otherside with the introduction of an action game series called Project Dragon. The first season, featuring three events, will kick off on July 27th at 12 PM EST in Meetropolis, a voxelized metaverse inside the Otherside.
Overview of Project Dragon
Project Dragon introduces a monthly lineup of events designed to deliver action-packed gameplay. Developed by Improbable using the ODK toolkit, which will be accessible to Voyagers, this initiative represents a major advancement for the Otherside metaverse, aiming to elevate the gaming experience for thousands of its users.
Azuki x Hallway
Azuki has announced an innovative collaboration with Hallway, a startup specializing in AI-driven interactive media. This partnership marks a significant advancement in digital storytelling by transforming Azuki’s 2D characters into autonomous, interactive entities.
Partnership Details
Hallway will enhance Azuki’s characters, starting with Bobu, by enabling them to engage dynamically with audiences while incorporating Azuki’s lore and community feedback. This development represents a major step forward in merging technology with creative storytelling.
Ferrari Announces Crypto Payments for EU Customers
Ferrari is set to introduce crypto payment options to its European dealers in late July 2024, following a successful implementation in the US last year. Approximately 60% of Ferrari dealers in Europe are either adopting or have already adopted this system, with full implementation expected by the end of 2024.
How Does it Work?
The new system allows customers to pay with cryptocurrencies like Bitcoin, which are automatically converted to fiat currency and transferred to the dealer’s bank account. This setup simplifies transactions for dealers by handling crypto management, fund verification, and exchange rate protection.
Project of the Day
Jupiter
Jupiter ($JUP), a leading decentralized exchange aggregator on the Solana network, continues to make strides in the DeFi space. Known for its advanced swap aggregation and essential liquidity infrastructure, Jupiter is broadening its offerings with products such as Limit Order, DCA/TWAP, Bridge Comparator, and Perpetuals Trading.
Currently, $JUP boasts a market cap of over $1.31 billion and trades around $1. Although it reached an all-time high of over $1.80 in late March, the token has recently declined along with the broader market. Despite this, Jupiter remains a key player in the Solana ecosystem, with significant potential in the bull run, given $SOL is considered to be the hottest L1 chain this cycle.
Crazy Day in Crypto
- Base, a layer 2 blockchain solution, has recently reached record highs in transaction count and active addresses, outperforming other optimistic rollups like Arbitrum and Optimism.
Market Sentiment & Predictions
- Spot Ethereum ETFs have achieved $1 billion in volume for two days straight, yet Ethereum’s price has fallen 3% in the past 24 hours, leading analysts to worry that its complex value proposition may make it less appealing to traditional investors compared to Bitcoin.
Business Talks & Political Insights
- As per the CEO of Bitcoin Magazine, Kamala Harris has decided not to speak at the Bitcoin Conference, despite earlier discussions about her appearance.
- Wyoming Senator Cynthia Lummis intends to announce a proposed bill at the annual Bitcoin Conference in Nashville that would require the Federal Reserve to hold bitcoin as a strategic reserve asset.
The S&P 500 experienced its worst day in over a year, falling 2%, as profit reports from Tesla and Alphabet dampened Wall Street’s enthusiasm for artificial intelligence.
