Crypto Ping Pong. Bring back staking

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Your Favorite Crypto Digest From TradeCrypto.com

Here it comes! The TradeCrypto.Com digest on the way to you! Let's see what has been going on :) >>

Market is green. BTC is now trading above $20,250, ETH is trading around $1,100.

💪 Bitcoin dominance: 43,59%

📉 Total Cryptocurrency Market Cap: $0,884 tr

😲 Fear and greed index: 13 (Extreme Fear)

🚀 Gainers(Top-100)

TerraClassicUSD (USTC) +53.41%

Hive (HIVE) +15.44%

1inch Network (1INCH) +11.53%

😭 Losers(Top-100)

Chiliz (CHZ) -12.39%

Enjin Coin (ENJ) -11.73%

Helium (HNT) -11.44%

Crypto.com Removes Dogecoin, Shiba Inu, Others From Earn Program

As the bear market continues, Crypto.com 📢announced Monday that it is ❌removing 15 cryptocurrencies from its Crypto Earn rewards program.

Dogecoin (DOGE), Shiba Inu (SHIB), Tezos (XTZ), and FLOW are among those being removed, but Crypto.com added Zilliqa (ZIL), Fantom (FTM), and NEAR to the list.

Harmony Hackers Begin Laundering Ethereum Stolen From Horizon Bridge

The hackers responsible for 😔stealing $100 million in altcoins from Harmony Protocol's Horizon bridge have begun to launder the funds, according to PeckShield.

The hackers 💸sent three transactions from the address used in the June 23rd hack totaling around 30K ETH (around $36 million) to the mixing service Tornado Cash, with $64 million still in the hacker's Ethereum wallet, according to blockchain 📊analysis by the blockchain 🛡️security company.

Regulatory Fog Remains as SEC Chief Doesn't Mention Ethereum as a Commodity, Does Not Say Bitcoin is the Only One Either

Ethereum (ETH) advocates have ❗reacted after the United States Securities and Exchange Commission (SEC) Chairman Gary Gensler refrained from labeling the coin a commodity – and instead chose to name bitcoin (BTC) among the tokens the SEC chiefs before him deemed a non-security. He, however, contrary to many reports, did not single out bitcoin as 'the only' commodity.

In an interview with CNBC’s Jim Cramer, Gensler stated: “Some, like bitcoin – and that’s the only one, Jim, I’m going to say, because I’m not going to talk about any one of these tokens, my predecessors and others have said – they’re a commodity.”

CBDCs ‘An Investment’ to Protect the Fiat System, Cash Will Disappear, Swedish Central Banker Says

A central bank digital currency (CBDC) is “an investment” to 🛡️protect the current fiat monetary system, according to a central banker from Sweden, who also argued that cash will soon be 😀history.

Ulrich Bindseil, Director General for Market Infrastructure and Payments at the ECB agreed with Skingsley, saying that 😌“there is no reason” for central banks to not move into the digital age.

CoinFLEX's USD 47M Recovery Token Plan Questioned by Crypto Observers

Crypto derivatives exchange and yield platform CoinFLEX aims to turn the debt of a "high integrity" individual into a token called Recovery Value USD (rvUSD) in order to fund other customers' withdrawals. Not everyone is 🤔impressed with these plans.

The 💱exchange will issue rvUSD 47m at a price of USDC 1 per coin, cumulatively raising USD 47m. Potential buyers will be offered a 20% Annual Percentage Rate (APR) rate in addition to other perks, including 2.5M FLEX coins (USD 2.3m) distributed proportionally across all holders.

Luxor Launches Hosting Marketplace for Bitcoin Miners Amid Build-Out Delays

Luxor Technology, the full-stack bitcoin (BTC) mining software and services provider, is 🚀launching a marketplace for miners where customers will be able to purchase hosting services for their mining rigs.

Miners will be ✔️able to shop for hosting services when they buy bitcoin mining computers through Luxor’s brokerage service that was 🚀launched earlier this year. Luxor will essentially play the role of a broker, matching miners that need their machines plugged into a hosting provider. Luxor 📢said that it has done over $100 million in trading through its mining rig brokerage service.

Zigazoo, a Social Network for Kids, Raises $17M to Further Web3 Ambitions

Zigazoo, a kid-safe social network that recently 🚀launched a non-fungible token (NFT) collection, has raised $17 million in a Series A funding round led by Liberty City Ventures. The post-money valuation wasn’t disclosed.

“We’re planning on using the new capital to become the biggest kids company in the world by expanding our Web3 offerings while building towards becoming the leading social network for kids to interact directly with creators and brands in the kids’ media space,” Zigazoo founder and CEO Zak Ringelstein told CoinDesk in an email.

Conclusion: For the last few days, the exchange rate is holding at the same levels. Staking is becoming less and less, long-term holders are puzzled. 

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