Your Favorite Crypto Digest From TradeCrypto.com #169

Hi there and welcome! Yet another day to reflect on events happening in every corner. Of course, we can't get away from SBF, but even this story can be told in an interesting way. Besides, there is more waiting for you today. Don't miss it.

Daily statistics update:

Today’s market is green. Bitcoin is trading at $16890 and ETH is around $1270.

💪 Bitcoin dominance: 38.23%

📉 Total Cryptocurrency Market Cap: $847.68B

😲 Fear and greed index: 22 (Extreme Fear)

🚀 Gainers (Top-100)

• Quant (QNT) +20.26%

• XRP (XRP) + 12.03%

• Cronos (CRO) +11.16%

  😭 Losers (Top-100)

• Convex Finance (CVX) -4,85%

• Casper (CSPR) -2.49%

• KuCoin Token (KCS) -2.44%

Yuga seems to be gradually taking over everything, this time a project by the notable artist Beeple, who, among other things, created the story-rich 10KFT NFT project. Yuga already has big projects in its portfolio, as well as the hype Meebits and CryptoPunks, not to mention BAYC, and now Beeple with joins them as an advisor with his brainchild. 

The story didn't end without a twist. 

We will probably see Wagmi-san, the main character of 10KFT, in that very BAYC's metaverse game. 

Otherside tweeted: “Welcome to the Otherside, Wagmi-san”

After Solana reported on the blog on the exposure to FTX and the following exchange’s filing for Chapter 11 bankruptcy, panic among the users ensued. Yet Solana put investors to rest by assuring them that everything is under control, because the foundation had only about $1M in FTX. Solana also holds 3.24M common shares in FTX Trading Ltd, along with 3.43M FTT and 135M SRM.

Overall, Solana sold 58.08 million SOL to Alameda Research and FTX Trading, representing 11% of Solana's total supply.

You guessed it! It will be about the collapse of the FTX. I mean, not quite. Let me give you a direct quote from CZ on people who are now angry at SBF on Twitter (and also those who made wrong investment decisions and lost):

“As a user, you also have responsibility — you can’t just blame all of the responsibility to other people. When bad things happen, if you blame all of the responsibility, if it’s always to other people, you will never be successful. You are also always looking at the most responsible person to yourself, which is yourself.”

The passage is interesting, but the word "success" is a bit out of place. 

The purchase of RTFKT, which helped create the digital apparel, was just the beginning, now Nike is going further into the web3 with the .Swoosh platform to create items in collaboration with brand devotees to be worn in games. Nike's NFT apparel will be minted on Polygon, with registration opening this week and the first drop in January.

Stay tuned and Bring Your A Game.

Do you remember how in the summer BlockFi, after all the previous failures of this cycle, became heavily dependent on FTX with a very likely further takeover? You all remember, of course.

Last week withdrawals were frozen, and the situation has not changed in any way. Although BlockFi denies rumors of insolvency in its message to users, it admits "significant" exposure to FTX, asking customers not to submit any deposits to their accounts.

A complicated situation, give or take.

Throughout the cycle, we see the concentrated power in one hand end in tears. Amid this talk of self-custody blossoms, Google searches for wallets under the slogan "get your money off the exchanges, ” as well as DEX, which until now have been neglected due to not the most clear-cut UX.

Look at the numbers: Trust Wallet (TWT) is up by 129%, GMX by 55%, and DYDX by 70%.

Conclusion: What for some turns out to be a defeat for others is a victory. And while it is indeed important to remain a human being and, even more so, to be responsible for your actions, with which self-education helps a lot, there are also things we can neither foresee nor control. May the force be with you.

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.