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Kaidro Shifts to Ronin for Enhanced Game Development and Support
Last week, the SPX index is down 1.56%, these market shifts followed high U.S. inflation data, causing traders to reconsider expectations for multiple Federal Reserve rate cuts this year. Investors are now focusing on upcoming U.S. retail sales data and Goldman Sachs’ earnings report. The broader cryptocurrency market is down, with Bitcoin and Ether dropping by 0.18% and 0.99%, respectively in the past 24 hours. Today’s outperformer is VET, which jumped 11.4% after VeChain partners with UFC to tokenize fighter gloves for authenticity and collectibility. VeChain (VET), founded in 2015, is a blockchain platform aimed at improving supply chain management and business processes by utilizing distributed ledger technology (DLT). The platform features two types of tokens: VeChain Token (VET), which facilitates value transfer within the network, and VeChainThor Energy (VTHO), used as "gas" for powering smart contract transactions. VeChain is partnering with UFC to tokenize fighter gloves using NFC chips to ensure authenticity and track fight data on the VeChainThor blockchain. These tokenized gloves, debuting at UFC 300, will be collectibles verifiable through smart contracts. The project aims to deter fraud in the resale market. Initial exclusive gloves will be presented to celebrities like Joe Rogan. Reactions on VeChain's Reddit varied, with excitement about the use case but skepticism over its minor impact on VTHO token usage and value.
Store of Value
The London Upgrade, the largest update to the network’s core protocol in years, has been activated.
BTC Trapped in a Bearish Zone; BAYC NFT Price Floor Falls
The fabled BAYC NFT collection saw its floor price drop below $100k. Find out more here.
CELO Jumps on Tether Expansion
Today’s outperformer is CELO, which jumped 44.8% after Tether expands ecosystem with upcoming USDT launch on Celo Blockchain.
Hold the Line
As the market reacts to a series of “unfortunate events”, the price of BTC’s dramatic downward movement has scarred newer market entrants, who seem to be scrambling to put a stop to their loss.
Jupiter's JUP Token Soars After Airdrop
Shortly after its release, the JUP token from the Solana-based decentralized exchange aggregator Jupiter soared to a market capitalization of $914 million, making it the sixth-largest DEX by this metric.
OCEAN Outperforms Due to AI Hype; Uniswap Fee Switch Proposal Rejected
The largest decentralized crypto exchange, Uniswap, has seen its proposal to turn on the fee switch fizzle out. Read more here.
BAKE Outperforms Following Base Daily Partnership; Num Finance Deploys Colombian Peso-Pegged Stablecoin $nCOP on Polygon
Argentina-based Num Finance has launched a stablecoin pegged to the Colombian peso, called nCOP, on the Polygon network. Read more here.
Polygon Launches zkEVM Mainnet Beta; Animoca Brands Slashes Target for Metaverse Funds
Animoca Brands has reportedly decreased the target for its metaverse fund by 20%. Find out more here.
Network Observes Large Whale Movement; TAG Heuer Watches to Display NFTs
BTC saw a strong comeback despite the Fed's 75 bps rate hike, while whales have started large on-chain movement. Find out more on Daily Bits.
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