Daily Market Wrap
Crypto market cap: 963 Billion, down 2.70%
BTC price stands at USD 19,785, down 1.29%
ETH price stands at USD 1,472, down 7.42%
Top gainer: Cosmos (ATOM), up 10.77%
Top loser: Celsius (CEL), down 21.00%
News of the Day
Why it matters:
Following the success Ethereum Merge, Dogecoin holds the second largest Proof-of-Work (PoW) crypto market capitalisation, at $7.83 Billion, with the first still being BitCoin at $378 Billion
Ethereum’s Merge might have added pressure to the other PoW-powered cryptocurrency networks to transition to a more sustainable consensus mechanism
Dogecoin Foundation has previously hinted the possibility of transitioning to Proof-of-Stake and has also released the “Dogecoin Trailmap” which proposed community staking
Crypto Daily Spotlight
Brief Introduction: EOS is a cryptocurrency with the blockchain protocol EOS.IO. The platform was built with the intention of allowing dApps to run at higher speeds and less electricity as compared to running on Ethereum. The ICO of this project was one of the largest, with 1 billion tokens sold, valuing up to $4 billion. Blankos Block Party is housed on Mystical Platform, which is built on the EOS.IO platform, and leverages EOSIO to create NFTs to represent skins, accessories and other cosmetics.
Why it matters:
Fortnite creators Epic Game Store has been welcoming towards Web3 gaming, in comparison to its competitors, and has launched an early access version of the NFT-powered Web3 game Blankos Block Party
Blankos Block Party is a game which allows players to control avatars inspired by vinyl toys, where NFTs are used to represent items such as character skins and accessories, which can be bought and sold through the in-game marketplace
While Epic Game Store does not have plans to use Web3 technology of NFT in their games, they welcome the launch of blockchain-based games on their platform
Daily Sector Tracker
Daily News Roundup
Ethereum Already Showing Signs of Increased Centralization https://bit.ly/3UjcK5o
FTX Is in the Lead to Buy Crypto Lender Voyager Digital’s Assets Out of Bankruptcy https://bit.ly/3S7aFrg
CFTC Preparing to Oversee Crypto, Behnam Tells Senators https://bit.ly/3eXZQcs
SEC Sues Crypto Broker Owner, Salesmen for Alleged Fraud https://bit.ly/3Bpsdbr
Exchanges Resume ETH Transfers After Successful Merge https://bit.ly/3Du612g
About Aspen Digital
Aspen Digital is a leading technology and financial services company with a mission to accelerate the mass adoption of digital assets. The company provides a digital asset management solution for asset managers, institutions, and sophisticated investors. Aspen Digital was co-founded by digital assets innovators and asset management veterans at Everest Ventures Group (“EVG”) and TT Bond Partners (“TTB”) in 2021.
For more information, please visit https://www.aspendigital.co/
Sign Up on Aspen Digital
If you would like to know more, please sign up here.