Daily Market Wrap
Crypto market cap: 0.98 trillion, down 0.85%
BTC price stands at USD 20,176, down 0.66%
ETH price stands at USD 1,568, down 1.22%
Top gainer: UNUS SED LEO (LEO), up 7.77%
Top loser: Helium (HNT), down 6.98%
News of the Day
Why it matters:
Mt. Gox creditors dismiss rumours of dumping a massive amount of 137,000 BTC on the market, highlighting that the defunct exchange’s repayment system is still not yet live
Eric Wall, a self-proclaimed Mt. Gox creditor, and others assured that Mt. Gox will not be releasing the Bitcoin, and will delay the distribution once again
In July, the appointed trustee to handle the rehabilitation plan for Mt. Gox confirmed that the exchange is working on paying back its creditors
Crypto Daily Spotlight
Brief introduction: DigiDaigaku is a collection of 2022 unique characters developed by Limit Break, a Web3 gaming startup focused on building massively multiplayer online (MMO) games. It raised $200 million over two funding rounds on August 29, 2022. It employs a “free-to-own” model as it plans to give away its NFTs for free.
Why it matters:
The Binance CEO Changpeng tweeted on Tuesday that the creation of a novel “free-to-own” business model in the GameFi space is high risk
Ryan Foo, a game economist at Delphi Digital, says that Limit Break did a free stealth mint for its NFT collection with a 10% transaction fee
On Monday, the floor price of Limit Break’s DigiDaigaku rose to 15.67 ETH after news emerged that its parent company raised $200 million across two funding rounds
Daily Sector Tracker
Daily News Roundup
South Korean Port City Busan Taps FTX to Promote Blockchain Businesses https://bit.ly/3q09gqu
Five Major Crypto Exchanges Are Requested to Submit Documents to U.S. Lawmakers https://bit.ly/3B1duUW
Crypto Lender Nexo Allocates Another $50 Million for Token Buyback Initiative https://bit.ly/3AZuQS4
Moonbirds Parent Firm PROOF Successfully Closes $50 Million Series A Round Led by A16Z https://bit.ly/3ebHSD9
OpenSea Trading Volume is Down 99% From Its All-Time-High https://bit.ly/3RnUa9P
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