Crypto Market Highlights August 2, 2022

August 2, 2022 - Around 3 mins mins to read

Crypto Market Highlights August 2, 2022

Magic Eden Is Turned Away By The Community. Magic Eden, the leading NFT marketplace on Solana, is facing a wave of criticism from the community and claims to be changing the way user assets are managed. Recent changes to the exchange that have restricted access from third-party tools and aggregators and the way the exchange manages user assets pose a significant threat. Magic Eden’s policy of keeping users’ NFT assets in escrow wallets is not new, but the debate has only surfaced recently. Accordingly, Magic Eden takes control of all listed assets instead of keeping them in the user’s own wallet.
CryptoPunks’s Trading Volume Increased 1,847% When Tiffany & Co. Debuted Its Unique NFT Collection. CryptoPunks had an increase in trade volume on Monday of 1,847% over the course of a day. Punk NFTs were traded for almost $1,226.68 ETH during that period. The increase in interest appears to be related to the unveiling of Tiffany & Co.’s own NFT line, which offers Punk holders a particular benefit.
Binance Now Offers Decentralized KYC for Wallets Using Soulbound Tokens. As a decentralized solution to the KYC requirements for the exchange, Binance introduced BAB, a Soulbound Token on the BNB Chain. Soulbound Tokens are NFTs that are not transferable across wallets. The Binance Account Bound (BAB) token “will certify the wallet owner’s verified user status on Binance and will also be available for use by third-party protocols.”

Shiba Inu Team Now Reveals Its Game Named “Shiba Eternity.” The highly anticipated game for the Shiba Inu project will be called “Shiba Eternity,” according to a recent statement from the developers. Both the Google Play Store and the Apple App Store will offer the game. The development team of Shiba Inu is presently collaborating with Melbourne, Australia-based PlaySide Studios, a maker of video games.
Japan’s Central Bank Suspends Plans For CBDC. Despite testing the technical feasibility of issuing a central bank digital currency (CBDC) in 2021 and starting the second phase of testing in April, the Japanese central bank has decided to suspend plans to introduce a CBDC because it failed to attract public attention. The Bank of Japan (BOJ) will not consider implementing a CBDC shortly due to the popularity of credit cards, online banking, and crypto payment tools among consumers in the country.

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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Crypto Market Highlights August 2, 2022

Magic Eden Is Turned Away By The Community. Magic Eden, the leading NFT marketplace on Solana, is facing a wave of criticism from the community and claims to be changing the way user assets are managed. Recent changes to the exchange that have restricted access from third-party tools and aggregators and the way the exchange manages user assets pose a significant threat. Magic Eden’s policy of keeping users’ NFT assets in escrow wallets is not new, but the debate has only surfaced recently. Accordingly, Magic Eden takes control of all listed assets instead of keeping them in the user’s own wallet.
CryptoPunks’s Trading Volume Increased 1,847% When Tiffany & Co. Debuted Its Unique NFT Collection. CryptoPunks had an increase in trade volume on Monday of 1,847% over the course of a day. Punk NFTs were traded for almost $1,226.68 ETH during that period. The increase in interest appears to be related to the unveiling of Tiffany & Co.’s own NFT line, which offers Punk holders a particular benefit.
Binance Now Offers Decentralized KYC for Wallets Using Soulbound Tokens. As a decentralized solution to the KYC requirements for the exchange, Binance introduced BAB, a Soulbound Token on the BNB Chain. Soulbound Tokens are NFTs that are not transferable across wallets. The Binance Account Bound (BAB) token “will certify the wallet owner’s verified user status on Binance and will also be available for use by third-party protocols.”

Shiba Inu Team Now Reveals Its Game Named “Shiba Eternity.” The highly anticipated game for the Shiba Inu project will be called “Shiba Eternity,” according to a recent statement from the developers. Both the Google Play Store and the Apple App Store will offer the game. The development team of Shiba Inu is presently collaborating with Melbourne, Australia-based PlaySide Studios, a maker of video games.
Japan’s Central Bank Suspends Plans For CBDC. Despite testing the technical feasibility of issuing a central bank digital currency (CBDC) in 2021 and starting the second phase of testing in April, the Japanese central bank has decided to suspend plans to introduce a CBDC because it failed to attract public attention. The Bank of Japan (BOJ) will not consider implementing a CBDC shortly due to the popularity of credit cards, online banking, and crypto payment tools among consumers in the country.

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.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Hazel

CoinCu News

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Crypto Market Highlights August 2, 2022