Your Favorite Crypto Digest From TradeCrypto.com #114

The statistics:

Market is green. BTC is now trading above $20,400, ETH is trading around $1,550.

💪 Bitcoin dominance: 40.17%

📉 Total Cryptocurrency Market Cap: $ 0,969 tr

😲 Fear and greed index: 27 (Fear)

🚀 Gainers (Top-100)

• Lido DAO (LDO)+16.52%

• Flow (FLOW)+13.36%

• Avalanche (AVAX)+12.08%

😭 Losers (Top-100)

• Huobi Token (HT)-7.17%

• USDD (USDD)-0.04%

• TrueUSD (TUSD)-0.02%

Facebook’s parent company Meta said the social media platform’s roughly 2.9 billion users will have the ability to share 📲 digital collectibles and NFTs. Instagram users across 100 countries will be able to post digital collectibles minted on the Flow blockchain or from wallets supporting the Ethereum or Polygon blockchains to their accounts.

“As we continue rolling out digital collectibles on Facebook and Instagram, we’ve started giving people the ability to post digital collectibles that they own across both Facebook and Instagram,” 💬 said Meta. “This will enable people to connect their digital wallets once to either app in order to share their digital collectibles across both.” Isn't this awesome?

GammaX, a Singapore-based company building a new high-performance hybrid crypto derivatives exchange, announced the closure of a $4 💰 million seed round, backed by the likes of StarkWare, the developer of zero-knowledge proof technology, and liquidity provider Dexterity Capital. “Our mission is to create the world’s fastest, most complete, easiest to use, and most responsive exchange available to traders,” Defi Das, the anonymous co-founder of GammaX, said in a statement. Good luck to them.

FTX founder and CEO Sam Bankman-Fried said today that his cryptocurrency exchange 💱 is not planning to acquire Huobi Global. Earlier this month ​​Huobi Group founder Leon Li was in talks to sell his majority stake in the crypto exchange. The report said Sam Bankman-Fried and Tron founder Justin Sun were among the interested investors talking with Li.

But today crypto billionaire Bankman-Fried said his company wasn’t planning to buy the exchange. “Just to be explicit because apparently a lot of people are saying this: No, we are not planning to acquire Huobi,” 💭 he said in a Monday tweet. Hmmm, maybe he'll change his mind?

National rugby captain Siya Kolisi will spearhead a two-year educational cryptocurrency advertising campaign in South Africa. The Springbok skipper has partnered with global cryptocurrency 💱 exchange Luno in the campaign's rollout, which will feature a series of television adverts promoting a long-term investment attitude towards cryptocurrencies. It's a very cool partnership.

Are there any F1 fans here? Formula One could introduce nonfungible tokens (NFTs), digital collectibles and cryptocurrency payment support 🤝 ahead of the inaugural Las Vegas Grand Prix in 2023. F1's trademark department registered two new trademark filings with the United States Patent and Trademark Office on August 23.

Of particular interest were specific mentions of NFT and cryptocurrency-related offerings as well as blockchain-powered transactional services. The filing notes NFTs that will represent ownership 💸of a wide variety of real-world items, including vehicle equipment, decorative items, clothing, bags, wallets, and even "perfumery."

Is it possible that this will go through? “A balanced approach is needed to foster a sound market through the introduction of a crypto asset regulatory system to promote blockchain and crypto asset innovation while not hindering the development of related industries due to excessive regulation,” 📑 the Korean central bank wrote, continuing: “When the Digital Assets Framework Act is enacted in the future, it is necessary to institutionally allow domestic crypto-asset ICOs.”

Is he hoping to be forgiven? According to a recent blog post, 0xfanfaron, CEO of nonfungible tokens (NFTs) gaming 🎮 project Ragnarok, apologized publicly for his missteps in leading the company. Ragnarok is a crypto startup that brought in $15.5 million worth of Ether (ETH) for gaming development in April through its first-ever NFT sale.

However, 0xfanfaron disclosed 💬: "We exchanged the ETH from the mint for 15.5 million in USD Coin. As it turns out, this was a good move in treasury management. But when ETH's price went down, I made mistakes by buying ETH multiple times when I thought it was an advantageous investment for the project."

Conclusion: Bitcoin experiences very strong resistance at 19,000. If it manages to break through, we could see new spills. Sam changed his decision to take over the markets aggressively and refrained from buying Huobi. The NFT tech is still continuing to roll out everywhere.

What is Crypto Ping Pong digest?

TC lads here are working quite hard and from time to time we gotta chill. Recently, 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.

So memes, leaks, gossips naturally come about – we collect them and share them with you in this interstellar space on our site we like to call Crypto Ping Pong digest.