Daily Market Wrap
Crypto market cap: 1.23 trillion, down 0.43%
BTC price stands at USD 29,965, down 0.57%
ETH price stands at USD 1,781, down 0.15%
Top gainer: Tezos (XTZ), up 8.81%
Top loser: Stacks (STX), down 4.32%
News of the Day
The IMF recommends eco-friendly central bank digital currencies (CBDCs) and non-Proof-of-Work payments.
Why it matters:
International Monetary Fund (IMF) conducted a study on energy consumption and suggested that developers should lay aside the PoW protocols
The IMF’s recommendation to advocate for non-PoW-based payments is because Bitcoin consumes about 144 terawatt-hours (TWh) per year
IMF elaborated that the mechanism of Proof-of-Work (POW) poses high environmental threats due to the emission of fumes containing carbon
Crypto daily spotlight
Brief introduction: Osmosis (OSMO) is an automated market-making protocol (AMM) built using CosmosSDK and IBC technologies, where users can create, construct, design, and deploy individual and highly-customized AMMs with various modules and the on-chain governance system.
Why it matters:
The cause of the liquidity pool exploit has been identified — FireStake, a validator in the Cosmos ecosystem, posted a Twitter thread admitting that two members of its team exploited the Osmosis LP bug
Firestake told their 1,700 Twitter followers that 2 out of 4 attackers decided to voluntarily return the stolen funds and “set things straight”
FireStake said it is working with Osmosis to return the stolen funds and that it will no longer operate in the Cosmos ecosystem
Daily sector tracker
Daily News Roundup
Hong Kong-Based Wine Importer GCC Offer First Redeemable Wine NFT in Asia https://bit.ly/3tq1esZ
UK-Based Payments Solution Provider Checkout.com Accepts Stablecoins Payments https://bit.ly/3tNZryf
Ethereum Ropsten Testnet Successfully Merged to Proof-of-Stake https://bit.ly/3Mv2vWo
ApeCoin DAO Chooses to Stay Within Ethereum Ecosystem https://bit.ly/3my8W0s
UFC Signs For VeChain as First Official Layer 1 Blockchain Partner https://bit.ly/3NAXbly
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
We have launched the beta version of our platform. If you would like to know more, please sign up here.