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“Godfather of DeFi” Andre Cronje Believes Regulation Will Be The Solution to Crypto’s New Age

Daily Market Wrap

  • Crypto market cap: 1.93 trillion, up 0.38%

  • BTC price stands at USD 41,607, up 0.55%

  • ETH price stands at USD 3,089, up 0.06%

  • Top gainer: 0x (ZRX), up 54.76%

  • Top loser: The Sandbox (SAND), down 4.93%

News of the Day

Why it matters:

  • Former founder Andre Cronje believes crypto regulation is infeasible, but regulated crypto can be

  • He also added in his post published Tuesday that the public should try to engage and educate on regulated crypto rather than trying to fight regulatory bodies

  • Before this, he criticised the DeFi market saying crypto was “repeating” the mistakes of previous monetary policymakers

Crypto daily spotlight

Brief introduction: ApeCoin is a decentralised project inspired by Yuga Labs’ Bored Ape Yacht Club project. It is an ERC-20 utility token used within the APE Ecosystem, allowing ApeCoin holders to participate in ApeCoin DAO and to vote on how the ApeCoin DAO Ecosystem Fund should be used.

Why it matters:

  • The Bored Ape NFT collection’s native token ApeCoin (APE) jumped 23% in the past 24 hours, nearly reaching its all-time-high $16.47

  • Prior to this, Yuga Labs launched a trailer in March for its upcoming metaverse called Otherside

  • A rumor surges on Twitter that the holders of BAYC and MAYC NFTs may receive land airdrop ahead of the Otherside metaverse

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