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Crypto Market Highlights July 12, 2022

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Crypto Market Highlights: General News

  • Celsius Pays $95 Million In Loans On Aave And Compound. Based on data from blockchain analytics firmΒ Nansen, it has been shown that a Celsius-linked wallet transferredΒ 35 million DAIΒ andΒ 40 million USDCΒ ofΒ CircleΒ in various transactions. The wallet also paid an additionalΒ 20 million USDCΒ at the end ofΒ July 10Β toΒ Aave. The platform also swapped some interest-bearing tokens onΒ AaveΒ withΒ 1,647 WBTC (worth $33.4 million)Β and aboutΒ $1.6 million combined BATΒ and xSUSHI. The latest payments have allowed it to buy back most of the collateral from the loan.
  • GameStop Now Releases Its NFT Marketplace’s Public Beta! On July 11, the video game company GameStop launched its own NFT marketplace. Low costs and quick speeds are goals of the upcoming NFT market. The marketplace allows users to build, sell, and trade NFTs. Users may access NFT data through the marketplace’s functionality, and there is also educational content available. Everything from the fundamentals of NFT to how to link a wallet to the market is addressed in the educational content.
  • The First Regulated British Pound Stablecoin Is Launched. Blackfridge, a cryptocurrency company, has announced β€œpoundtoken,” a British-regulated stablecoin. The stablecoin, denoted by the symbol GBPT, is entirely backed by sterling reserves. It isΒ the world’s first regulated British pound stablecoin. GBPT was initially released on Ethereum, but it is planned to grow to other blockchains as well. Poundtoken is presently available for trading on UniSwap, Gate.io, and Bittrex Global, but the company promises that more platforms will follow suit soon.
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  • SK Telecom Plans To Launch Web3 Wallet. SK TelecomΒ says its blockchain arm will partner with Blockchain companyΒ AhnLabΒ andΒ Atomix LabΒ to develop and operate aΒ Web3Β wallet. According to the announcement, the company will useΒ Soulbound Tokens (SBT)Β to verify credentials including membership and many other certifications in addition to the ability to store crypto assets. Atomix LabΒ will use secure multi-party computing encryption for thisΒ Web3Β wallet, after which the company will continue to provide technical support, whileΒ SK TelecomΒ andΒ AhnLab BlockchainΒ will take over the business.
  • The Listing Of BitMEX’s BMEX Token Is Delayed! The cryptocurrency futures and spot exchange stated in a statement today that it is prepared to list BMEX for trade, but that the current market environment is β€œnot ideal” for token holders. In December of last year, BitMEX announced the debut of its native token, and as of January of this year, users had receivedΒ 1.5 million tokensΒ through airdrop. According to the company, it would continue to airdrop the token to traders and new members.

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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