🗞 Daily Crypto News, April, 4th💰
Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis. Enjoy!
🗞 ‘Silent crash’ as price floors collapse across NFT space
If prices plummet in an illiquid market, how soon before anyone notices?
While fungible tokens traded on centralized and decentralized exchanges have significant transparency regarding price movements, nonfungible tokens can be harder to track. Because of their illiquid nature, gauging the sentiment of the overall market market for a project can be difficult — a dynamic that has led one eGirl Capital member, Mewny, to dub NFT corrections ‘silent crashes.’
CryptoPunks, among the earliest and most popular NFT projects for collectors, have seen a over 40% decrease in floor price to 14 ETH (roughly $28,000 at the time of publication). The price capitulation has led to some on-chain horror stories today, such as one speculator who sold a Punk for 16 ETH after purchasing it for 25.5, and another that sold for 27.99 after a 42 ETH purchase:
🗞 Former SEC Chairman Jay Clayton Warns of New Bitcoin Regulations
In an interview with CNBC Squawk Box posted Thursday, Clayton said bitcoin had the status as a non-security at the SEC but this does not mean it should not be regulated.
- "Where digital assets land at the end of the day will be driven in part by regulation both domestic and international, and I expect that regulation will come in this area both directly and indirectly," Clayton said about bitcoin.
- The former SEC Chairman stressed he was "speaking as a citizen" during the interview.
- Under Clayton, the SEC cracked down on unregistered and fraudulent initial coin offerings. The commission also refused to approve the application of any bitcoin exchange-traded funds and sued Ripple Labs.
🗞 Coinbase Employees Exchange NFT Rings in Wedding Ceremony
- A couple from San Francisco exchanged crypto-collectibles as part of their marriage ceremony. They're both blockchain nerds. You can see a record of their commitment over on Etherscan.
If you’re stuck in lockdown and out of sync with the world of dating and romance, it’s moving fast: NFT wedding rings are now a (virtual) reality.
Coinbase principal security engineer Peter Kacherginsky and staff product designer Rebecca Rose took love into Web 3.0 when they exchanged “virtual rings” on the blockchain.
🗞 Binance’s Crypto Derivatives Platform Sees Record Open Interest of $10B
Binance’s crypto derivatives platform Binance Futures continues to soar in popularity as more and retail customers add fuel to the bull run.
Open interest on the derivatives platform hit a record high of over $10 billion on Saturday, amounting to year-on-year growth of nearly 3,900%, according to data source CoinGecko.
The spike in open interest or the value of derivative contracts traded but not settled with offsetting positions reflects an increased inflow of money into the market.
https://static.coindesk.com/wp-content/uploads/2021/04/skew_exchange_btc_futures_open_interest_bn-5-775x433.png?format=webp
🗞 Daily Crypto Calendar, April, 4th💰
- Cash Tech (CATE)
"Cash Tech is introducing a token burn program that will make CATE tokens significantly more scarce by radically reducing the total supply."
- JustLiquidity Binance (JULB)
"We are Going to Airdrop Cliq DAO (CLQ). Tokens will be airdropped to Julb Holders on 04.04.2021 8 PM UTC with 1:5 ratio."
- Dynamic Set Dollar (DSD)
April 4th will see the launch of our new token mechanics.
- SHD Cash (SHDC)
SHDC AMA
- SafeCoin (SAFE)
"Please join us on Sunday, April 4 at 6 pm UTC: We are pleased to present Safecoin Validators in an AMA format."
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