Crypto Flipsider News – August 30th – Solana, Ethereum, Dubai, Honduras, Binance, CryptoPunks, Mutant Apes, Bored Apes
- Solana’s rally continues: $ 100 milestone exceeded.
- ETH-based products increase by 72.8%.
- Government updates: Dubai, Honduras, China.
- Binance removes the Norwegian krone and lists new coins and future contracts.
- NFT News: CryptoPunks, Mutant Apes, Bored Apes, Stephen Curry, OpenSea, Invisible Rock.
Solana’s rally continues: $ 100 milestone exceeded
Solana (SOL) broke the historic $ 100 mark today. The competitor accumulated over 10% in 24 hours to test the new $ 100.84 ATH. Solana’s total value hit a new high of $ 3.04 billion as shared today by WuBlockchain.
Solana’s impressive course began on August 15th, and since then SOL’s value has risen by over 126%.
The project was recently targeted by institutional investors when there was a large inflow of institutional funds in August.
New York-based Osprey Funds registered the Osprey Solana Trust with the SEC last week, making it the first private Solana investment offering in the United States.
- Over 40% of SOL’s token offering is not yet in circulation.
- Solana is not alone in the field of ETH killers: Cardano’s smart contracts are expected to come into force on September 12th.
ETH-based products increase by 72.8%
Ethereum (ETH) has evolved into the most popular network in the crypto sector due to some of its functions. Ether and ETH-based products have gained significant momentum following the London upgrade and the rise of the NFT market. This has resulted in Ethereum-based products reaching $ 13.8 billion after a monthly growth of 72.8%.
According to CryptoCompare, Ethereum’s total market share is 25.2%, which is its highest level so far this year.
- It looks like NFTs are really paying off for some as sales have continued to rise while NFTs are on a hype train. However, it is only a matter of time before we see if NFTs offer long-term business value and benefit.
Government updates: Dubai, Honduras, China
- While some countries like the United Arab Emirates and Honduras see great potential in entering the crypto market, China is sticking to its “special” approach. The nation currently has arguably the most solid plan for the use and diffusion of blockchain-related and centralized digital currencies like digital. With the backing of the government and the People’s Bank of China, the coin could have great potential to create a strong “cashless nation”.
Binance removes the Norwegian krone and lists new coins and futures contracts
The world’s largest crypto exchange has removed trading pairs, payments, kroner payment options and also website support in Norwegian (NOK). The financial regulator of the world’s most cashless country warned users of the risks associated with cryptocurrencies back in June.
Binance today added Gnosis (GNO), a project that is building new market mechanisms for DeFi.
Binance Futures is starting a new unlimited contract Automata Network (ATA) Tether (USDT) tomorrow. Automata Network is a decentralized service protocol that helps maintain privacy for dApps on Ethereum and Polkadot.
- Binance tightened its customer verification requirements earlier this month. However, the exchange is still subject to multiple regulatory warnings around the world, largely because Binance operates without the required legal registrations.
NFT News: CryptoPunks, Mutant Apes, Bored Apes, Stephen Curry, OpenSea, Invisible Rock
The NFT market continues to gain momentum. Impressively, the numbers in trading volume are only increasing. Given the longevity of this boom, some people are becoming more skeptical of the phenomenon. However, while many NFT messages are coming in every day, let’s review the key pieces:
- OpenSea’s monthly trading volume has exceeded $ 2 billion.
The largest NFT marketplace reached $ 2.3 billion in terms of trading volume in August. That’s colossal compared to July when it managed just over $ 300 million.
- CryptoPunks are getting more and more expensive.
Now the lowest price for an NFT of Punks exceeds 100 ETH, which is currently around $ 350,000, although the most expensive CryptoPunk on sale is valued at $ 3.61 trillion.
- The owner of Mutant Ape NFT made a mistake and sold the digital art for 17 USDC instead of 17 ETH.
Some lucky guy only paid $ 17 instead of the $ 54,000 allotted. The original owner spent around 2.87 ETH or $ 9,000 to mint the NFT, while the user who bought the NFT first resold it for 5 ETH or $ 16,000.
- Famous NBA star Stephen Curry showed off his Bored Ape NFT on his Twitter account (NYSE :).
The basketball player changes his avatar image to the Bored Ape. Currently, the value of digital art is estimated at almost 40 ETH, which is currently around $ 128,000.
- An invisible rock NFT was sold for 4 ETH ($ 13,000).
This isn’t the most expensive NFT ever sold. On the other hand, NFTs seem to have taken the approach of modern art: just a month ago, an Italian was selling an “Invisible Sculpture” for $ 18,300. It is interesting to see the development of NFTs. By the way, this isn’t even the most expensive invisible NFT as it was auctioned off for 33 ETH or $ 104,000.
- Although the NFT market is now growing exponentially, people have split into two groups: one believes that NFTs are completely separate from crypto and now exist in a category of their own, but the other expects this bubble to burst.
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