Daily Market Wrap
Crypto market cap: 0.97 trillion, up 3.25%
BTC price stands at USD 20,153, up 2.33%
ETH price stands at USD 1,529, up 6.28%
Top gainer: Lido DAO (LDO), up 14.60%
Top loser: eCash (XEC), down 12.55%
News of the Day
Why it matters:
The rap legends Snoop Dogg and Eminem will bring their BAYC NFTs to the VMAs this Sunday for Yuga Labs’ upcoming metaverse game “Otherside”
Two months ago, they released a music video called ‘From The D 2 The LBC’ featuring animated versions of their Bored Ape Yacht Club (BAYC) avatars
The YouTube video has garnered over 46 million views and a VMA nomination for “Best Hip-Hop” song. On Spotify, the track has racked up nearly 25 million streams
Crypto Daily Spotlight
Brief introduction: Avalanche is Layer 1 blockchain with the fastest time to finality, or time to confirm transactions. It uses the proof-of-stake protocol and thrives on its high speed, low cost, and sustainability. The blockchain has smart contract capabilities and its native token is AVAX.
Why it matters:
Avalanche’s native coin AVAX dropped over 10% after a self-described CryptoLeaks blog post accused Ava Labs, the company behind its parent smart contract blockchain Avalanche
CryptoLeaks claimed that Ava Labs CEO Emin Gün Sirer made a deal with law firm Roche Freedman and U.S. Attorney Kyle Roche of Roche Freedman to trap rival companies under class action lawsuits in return for massive amounts of AVAX tokens and Ava Labs corporate stock
Sirer tweeted on August 29 referring to the post and saying that the accusation is ‘conspiracy theory nonsense’
Daily Sector Tracker
Daily News Roundup
Singapore’s Central Bank Plans To Promote A Digital Asset Ecosystem While Restricting Crypto Speculation https://bit.ly/3TokZMT
Polygon Co-founder Sandeep Nailwal Raises $50M For Early-stage Web3 Startups https://bit.ly/3Ax7TUO
Tether Pushes Back Timeline on A Full Audit of Its Reserves https://bit.ly/3dZ58nL
South Korean Court Orders Bithumb Must Pay Damages to 190 Affected Customers https://bit.ly/3Tt1xhV
Mt. Gox Creditors Dismiss Fake Report about Upcoming 140K BTC Release https://bit.ly/3KvHYRW
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