Your Favorite Crypto Digest From TradeCrypto.com

Market is flat. BTC is now trading above $33 400, ETH is trading around $2,400.

💪 Bitcoin dominance: 41.76%

📉 Total Cryptocurrency Market Cap: $1,803 tr

😲 Fear and greed index: 11 (Extreme Fear)

🚀 Gainers(Top-100)

NEAR Protocol (NEAR) +10.03%

TRON (TRX) +4.81%

Monero (XMR) +4.44%

😭 Losers(Top-100)

Kava (KAVA) -9.40%

ApeCoin (APE) -8.10%

Shiba Inu (OKB) -7.94%

Billboard executive Julian Holguin is joining the NFT collective Doodles

The official Doodles account tweeted: “Julian will work alongside the founders to expand Doodles IP throughout music, gaming, and entertainment, while deeply integrating culture into the product.” That's fitting, considering the decades-long career Holguin has had in the 🎵 music and 🔥 entertainment industry.

Why Avalanche is the killer app for NFT Games: Ava Labs president

Ava Labs President John Wu recently appeared on Decrypt’s gm 🎙️ podcast and he discussed why he believes Avalanche is best suited for NFT-powered games, as well as current perceptions of NFTs. Over the last 30 days, Avalanche play-to-earn game Crabada has overtaken the struggling Ethereum-based Axie Infinity in terms of NFT 📊 trading volume, and has racked up over 💲225 million worth to date making it the highest-grossing overall NFT project on Avalanche.

“Gaming projects in subnets is about to explode. Games in general, especially GameFi games there’s a gazillion transactions. So those transactions eat up the chain’s capacity, in some sense. If someone else is doing something, it won’t affect your speed or timing in your subnet.” - Wu told co-hosts Dan Roberts and Jeff Roberts.

The U.S. Treasury Department’s Office of Foreign Assets Control today issued first-of-its-kind ❌ sanctions against a cryptocurrency mixing service, Bender.io, with links to North Korea. In a press release on Friday, OFAC said that the mixer is allegedly being used by 🐱‍💻 hackers in North Korea to “support its malicious cyber activities and money-laundering of stolen virtual currency.”

OFAC claims that Blender has been used to launder funds for Russian-linked ransomware groups such as Trickbot, Conti, Ryuk, Sodinokibi, and Gandcrab. It also alleges that Blender was used to obfuscate 💲20.5 million of illegal proceeds connected to the infamous Ronin hack in March. The theft one of the largest ever in crypto at 💲620 million drained the treasury of the popular play-to-earn game Axie Infinity, and hackers then dispersed the funds to various exchanges and mixers afterward.

Terra’s LUNA declines 10% amid UST depegging concern

Terra’s native token, LUNA, has plummeted about 10% to 💲65 on fears that Terra’s stablecoin UST, propped up mainly by LUNA, may lose its peg. Some 🤓 critics 🗣️ say this highlights UST as a liability for the wider cryptocurrency market as the Luna Foundation Guard, the organization that backs UST, has 💲3.5 billion in bitcoin ready to sell as a last resort should it need to defend UST’s stability. LFG reserves are in BTC (93%), LUNA (3.5%), and AVAX (3.5%).

The 😡 pressure on UST began to mount after the past few days saw high-volume withdrawals from Terra’s Anchor Protocol, where UST deposits currently earn investors 18.8% APY.

Google forms Web3 Team to tap the market's “Tremendous Potential”

Three months after Alphabet Inc., Google’s parent company, 🗣️ said it was actively looking into Web3, its cloud computing unit has formed a team.

Amit Zavery, a vice president at Google Cloud, told employees in an email Friday viewed by CNBC that 💡 the idea is to make the company’s cloud platform the preferred choice among developers. “While the world is still early in its embrace of Web3, it is a market that is already demonstrating tremendous potential with many customers asking us to increase our support for Web3 and Crypto related technologies,” he wrote.

The social media powerhouse owned by Meta is planning non-fungible token (NFT) integrations for Ethereum, Polygon, Solana and Flow, CoinDesk has learned. Those networks host the vast majority of trading in digital collectibles, with Ethereum and its 🦍 Bored Apes leading the way by market cap.

Instagram intends to 🤝 support widely used crypto wallets such as MetaMask. Plugging in their wallets, users will be able to prove NFT ownership, showcase them on their profiles and tag the creators who made them. CoinDesk has confirmed Instagram will not charge users for posting and sharing NFTs, as Twitter initially did for its hexagonal NFT profile 🖼️ pictures in January.

Bitcoin falls below 💲35K for first time since January

Bitcoin 📉 fell below 💲35,000 on Sunday morning after declining almost 4% over the past 24 hours and nearly 9% over the last seven days. The market cap of the largest cryptocurrency tumbled to 💲658 billion, according to CoinMarketCap data.

As we wrote, the downward pressure began after the Federal Reserve announced it would raise interest rates, erasing the brief recovery Bitcoin enjoyed earlier last week.

Conclusion: large companies are increasingly introducing cryptocurrency and NFT into their system. More and more famous personalities have become involved in the crypto industry. Bitcoin volatility is still high and the coin will probably fall even more.

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What is Crypto Ping Pong digest?

So all the TC lads here are working quite hard and from time to time we gotta chill.

That’s why we got ourselves a ping pong table to complete our lazy-bag-stuffed chill zone. As you all know our main hobby is Crypto, so even while we play we don’t really shut up about it. Ever.

During the game, we have a rule not to discuss serious topics like analytics, predictions, etc.