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Crypto Market Highlights March 18, 2022

631 days ago - Around 4 mins mins to read

Crypto Market Highlights: Legal News

Ukraine’s Ministry of Digital Transformation has launched the “Aid For Ukraine” project, which aims to raise $200 million in Bitcoin and cryptocurrency donations for the Ukrainian government. So far, the crypto community has contributed over $55 million to aid Ukraine in its battle against the Russian invasion. Yesterday, Ukraine’s President Volodymyr Zelensky signed legislation on virtual assets, subjecting this market to the National Securities and Stock Market Commission and the National Bank of Ukraine’s supervision (NBU).

Crypto Market Highlights: Investment News

The Mina Ecosystem secured $92M through strategic and private sales of MINA led by FTX Ventures and Three Arrows Capital, with the participation by FTX representing the venture fund’s first major backing of zero knowledge-based smart contract technology. The leads were also joined by Alan Howard, Amber Group, Blockchain.com, Brevan Howard, Circle Ventures, Finality Capital Partners, Pantera, and five existing backers of the ecosystem. The funds will be deployed to accelerate Mina’s adoption as the leading zero-knowledge platform within Web3 by attracting world-class developers.

Crypto Market Highlights: Exchange News

Binance announced the launch of the first DeFi project on its mobile platform, the PancakeSwap Mini Program. The Mini Program will start rolling out today and will be gradually open to all users of the Binance app over the next few days. Binance is also announcing the Binance DeFi Wallet, a non-custodial decentralized Web3 wallet within the Binance application. Users can access the Binance DeFi Wallet from the latest version of the Binance App to create a DeFi wallet, transfer funds, and use DApps such as PancakeSwap.
Coinbase Wallet browser extension now offers support for sending, receiving, and storing Solana and SPL tokens. Users can now manage their Solana (SOL) and Solana tokens (SPL) alongside their tokens held on all of Coinbase Wallet extension’s supported networks, including Ethereum, Avalanche, Polygon, BNB Chain, and many more. Coinbase Wallet plans to further integrate with the Solana ecosystem, including the ability for users to connect to Solana dapps, and the ability to view and manage their Solana NFTs directly within their Coinbase Wallet extension.

Crypto Market Highlights: NFT News

ApeCoin, the newest NFT-based token powered by the renowned Bored Ape Yacht Club collection, will be adopted by a ‘secret project’, according to VC Animoca Brands. You can register for the project at https://somethingisbrewing.xyz/, but you have to complete the compulsory KYC. ApeCoin is an ERC-20 governance and utility token used within the APE ecosystem. ApeCoin is owned and operated by the ApeCoin DAO, a decentralized organization where each token holder gets to vote on governance and use of the Ecosystem Fund. Holding ApeCoin is the only requirement for membership in the ApeCoin DAO.
After being listed on FTX, BAYC’s token $APE price reached $40 before falling deeply to $8. Users who hold BAYC NFT will be airdropped 10094 APE; users who hold MAYC will be airdropped 2042 APE. The APE’s market cap has surpassed 2 billion, meanwhile, its FDV has exceeded 8 billion, and it can already be ranked in the top 20 cryptocurrencies. According to Nansen, Ethereum’s gas fee has been skyrocketing due to the withdrawal and transaction of ApeCoin Token, with the median soaring to 340gwei at one point.

GameStop plans to establish an NFT Marketplace by the end of the second quarter of 2022, but according to the current rumor, the launch date has been changed to late July of this year. The marketplace would be powered by Immutable X, a Layer 2 protocol operating on the Ethereum network that would allow NFT to be exchanged immediately with transaction scalability of 9,000 operations per second and would not charge any fees to its customers.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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