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Weekly Wrap-Up: Number Go Up, For SLP Atleast (July 5, 2021)

While Bitcoin remains in the $30,000 level, some coins, particularly SLP and AXS are going up. But why?

The post Weekly Wrap-Up: Number Go Up, For SLP Atleast (July 5, 2021) appeared first on BitPinas.

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Market Price as of July 5, 2021:

Bitcoin closed July 4, 2021, at $35,394 per BTC. We’re up 14.1% in the last 7 days and up 17% in the last 30 days. This is also 45% below the all-time high of $64,804, which was hit on March 13, 2021.

Bitcoin’s market capitalization stands today at $647,633,037,652 which is 43% of the entire cryptocurrency market. The entire crypto market, by the way, now has a market cap of $1,484,981,959,490 (+1.1%).

On the table above, there’s the cryptocurrency SLP. If you wonder what that is, check out this article: Playing Axie Infinity vs Minimum Basic Salary in the Philippines.

Note: Information presented in this article is for your reference only and must not be construed as financial advice. 

News

SLP, AXS Go Up

Two tokens associated with Axie Infinity, AXS and SLP, went up significantly this weekend after changes to breeding requirements of Axies and continued increased demand for Axies. When Sky Mavis, the developers of the game, announced that it is increasing the AXS requirement for breeding from 2 AXS to 4 AXS, it said it thought the move would enable a healthier Axie economy. The chart of cumulative Axie volume, so far, looks like this:

This means despite the increase in breeding requirements, the demand for Axies are just continuing to cause the prices to further increase. This is good for Axie players liquidating their SLP but breeders (or possibly the small time breeders and those wanting to play Axie by buying their own team) might be hurting. Sky Mavis did say that the increase in breeding fee is just temporary.

SLP Price:

AXS Price:

Read our latest articles on Axie Infinity:

Local Crypto News

PSE Considers Hosting Structured Crypto Trading ‘to Protect Investors’

In an online news briefing, PSE President Ramon S. Monzon said it is considering to host crypto trading on the stock exchange itself, primarily for the protection of investors. For that to happen, guidance from the Philippines Securities and Exchange Commission must be clarified first. “We’re waiting for the rules from the Securities and Exchange Commission,” Monzon said. 

“It’s an asset class that we cannot ignore anymore.” 

Binance Applies Transaction Fees to P2P Trading

In an announcement, Binance said it will maintain 0 fees for market ‘takers’ (people who interacts with existing offers on the platform) while market ‘makers’ (people who post advertisements or offers on the P2P marketplace or to put simply, the merchants) will be charged a fee rate ranging from 0 to 0.35% depends on the fiat markets & trading pairs used. This is effective as of July 1, 2021 2:00 AM (UTC).

PH SEC Advisory Against MASA MART – XUM TOKEN – Investment Scheme

SEC also confirmed that this is a ponzi scheme and warned that those people who act as salesmen, brokers, dealers or agents may be criminally prosecuted & penalized with a minimum fine of Five Million pesos (Php 5,000,000) or be penalized by Twenty-one (21) years of imprisonment or both pursuant to Sections 28 & 73 of the SRC.

PayMaya Eyes Digital Banking License After Securing $167M from Tencent, PLDT, IFC

28 percent of the capital (around $46 million) came from previous pledge funds and the remaining (around $121 million) came from existing PLDT shareholders; KKR, a global investment firm; Tencent, a Chinese multinational technology conglomerate holding company; International Finance Corporation (IFC), a member of the World Bank Group; and IFC Financial Institutions Growth Fund, a fund managed by IFC Asset Management Company (IFC-AMC) which is operating under IFC & a new investor.

The capital raise will be used to accelerate their expansion & obtain a digital banking license from the Bangko Sentral ng Pilipinas (BSP). Once granted, PayMaya could provide a more low-cost, mobile first, neo-banking service on the back of its tech stack. (Read more: BSP Approves ‘Digital Bank’ as New Category of Bank)

Feature

Four Tips for NFT Artists To Protect Themselves from Hacking and Online Theft

As NFT art continues to gain popularity, malicious hackers and art thieves have started targeting NFT artists as well because of the demand and high potential reward. We shared some ideas in this article in order for NFT artists (and virtually anyone working online) to protect themselves from hacking and online theft.

This article is published on BitPinas: Weekly Wrap-Up: Number Go Up, For SLP Atleast (July 5, 2021)

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Source: https://bitpinas.com/price-analysis/weekly-wrap-up-july-5-2021/

AI

Rich Dad Poor Dad’s Author Now Invests in ETH After BTC and Gold

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During a period of major corporate and institutional interest in the crypto industry, nearly 5,000 new tokens have emerged in the last 12 months, averaging over 10 new coins per day, new data shows.

Cryptocurrency Boom of 2021

As can be observed on CoinMarketCap’s homepage, the number of existing cryptocurrencies has recently surpassed 12,000. This is well over the approximately 7,100 coins recorded by the site in September of last year, meaning that at least 4,900 new digital assets have been created in the last 12 months alone.

This represents the largest YoY surge in the absolute number of cryptocurrencies since Bitcoin’s inception. During this time, the digital asset industry achieved a total market cap of over $2 trillion.

Interest in crypto creation is largely driven by Bitcoin’s price gains in the past year, as well as increasing institutional involvement in the space.

As household names like Elon Musk and Jack Dorsey show support for the industry and its possibilities, both creative and financial interest continues to be drawn into the space. This further bolsters the markets, inspiring developers to work on their own cryptocurrencies to avoid missing out on potential gains and demand.


ADVERTISEMENT

Furthermore, digital assets have garnered high interest as an asset class for hedging against inflation – especially during the economic crisis created by the coronavirus pandemic. While September of 2020 saw stock markets plunge, cryptocurrencies mostly held their value. This may have inspired even more creators to start investing and developing in the emerging asset class.

Is This a Good Thing for Crypto?

Through increased interest and technological development is crucial to the crypto industry’s growth, an ever-growing number of coins may be counterproductive or even dangerous.

For example, SEC chair Gary Gensler is only more skeptical of the space due to the vast number of tokens in existence. Recognizing that there is no room for thousands of different currencies, he plans to further regulate the industry to protect investors before some of them inevitably collapse.

Indeed, many of these tokens seem like dangerous investments – if not outright scams. Over $25 million were lost to crypto scams among Australians only in the first half of 2021

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

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Source: https://coingenius.news/rich-dad-poor-dads-author-now-invests-in-eth-after-btc-and-gold-27/?utm_source=rss&utm_medium=rss&utm_campaign=rich-dad-poor-dads-author-now-invests-in-eth-after-btc-and-gold-27

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AI

Rich Dad Poor Dad’s Author Now Invests in ETH After BTC and Gold

Published

on

During a period of major corporate and institutional interest in the crypto industry, nearly 5,000 new tokens have emerged in the last 12 months, averaging over 10 new coins per day, new data shows.

Cryptocurrency Boom of 2021

As can be observed on CoinMarketCap’s homepage, the number of existing cryptocurrencies has recently surpassed 12,000. This is well over the approximately 7,100 coins recorded by the site in September of last year, meaning that at least 4,900 new digital assets have been created in the last 12 months alone.

This represents the largest YoY surge in the absolute number of cryptocurrencies since Bitcoin’s inception. During this time, the digital asset industry achieved a total market cap of over $2 trillion.

Interest in crypto creation is largely driven by Bitcoin’s price gains in the past year, as well as increasing institutional involvement in the space.

As household names like Elon Musk and Jack Dorsey show support for the industry and its possibilities, both creative and financial interest continues to be drawn into the space. This further bolsters the markets, inspiring developers to work on their own cryptocurrencies to avoid missing out on potential gains and demand.


ADVERTISEMENT

Furthermore, digital assets have garnered high interest as an asset class for hedging against inflation – especially during the economic crisis created by the coronavirus pandemic. While September of 2020 saw stock markets plunge, cryptocurrencies mostly held their value. This may have inspired even more creators to start investing and developing in the emerging asset class.

Is This a Good Thing for Crypto?

Through increased interest and technological development is crucial to the crypto industry’s growth, an ever-growing number of coins may be counterproductive or even dangerous.

For example, SEC chair Gary Gensler is only more skeptical of the space due to the vast number of tokens in existence. Recognizing that there is no room for thousands of different currencies, he plans to further regulate the industry to protect investors before some of them inevitably collapse.

Indeed, many of these tokens seem like dangerous investments – if not outright scams. Over $25 million were lost to crypto scams among Australians only in the first half of 2021

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://coingenius.news/rich-dad-poor-dads-author-now-invests-in-eth-after-btc-and-gold-26/?utm_source=rss&utm_medium=rss&utm_campaign=rich-dad-poor-dads-author-now-invests-in-eth-after-btc-and-gold-26

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AI

Over 10 New Cryptocurrencies Are Being Launched Every Day, Data Shows

Published

on

During a period of major corporate and institutional interest in the crypto industry, nearly 5,000 new tokens have emerged in the last 12 months, averaging over 10 new coins per day, new data shows.

Cryptocurrency Boom of 2021

As can be observed on CoinMarketCap’s homepage, the number of existing cryptocurrencies has recently surpassed 12,000. This is well over the approximately 7,100 coins recorded by the site in September of last year, meaning that at least 4,900 new digital assets have been created in the last 12 months alone.

This represents the largest YoY surge in the absolute number of cryptocurrencies since Bitcoin’s inception. During this time, the digital asset industry achieved a total market cap of over $2 trillion.

Interest in crypto creation is largely driven by Bitcoin’s price gains in the past year, as well as increasing institutional involvement in the space.

As household names like Elon Musk and Jack Dorsey show support for the industry and its possibilities, both creative and financial interest continues to be drawn into the space. This further bolsters the markets, inspiring developers to work on their own cryptocurrencies to avoid missing out on potential gains and demand.


ADVERTISEMENT

Furthermore, digital assets have garnered high interest as an asset class for hedging against inflation – especially during the economic crisis created by the coronavirus pandemic. While September of 2020 saw stock markets plunge, cryptocurrencies mostly held their value. This may have inspired even more creators to start investing and developing in the emerging asset class.

Is This a Good Thing for Crypto?

Through increased interest and technological development is crucial to the crypto industry’s growth, an ever-growing number of coins may be counterproductive or even dangerous.

For example, SEC chair Gary Gensler is only more skeptical of the space due to the vast number of tokens in existence. Recognizing that there is no room for thousands of different currencies, he plans to further regulate the industry to protect investors before some of them inevitably collapse.

Indeed, many of these tokens seem like dangerous investments – if not outright scams. Over $25 million were lost to crypto scams among Australians only in the first half of 2021

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://coingenius.news/over-10-new-cryptocurrencies-are-being-launched-every-day-data-shows-20/?utm_source=rss&utm_medium=rss&utm_campaign=over-10-new-cryptocurrencies-are-being-launched-every-day-data-shows-20

Continue Reading

AI

Nayib Bukele: Chivo Bitcoin Wallet Has Now More Active Users Than Any Salvadorian Bank

Published

on

During a period of major corporate and institutional interest in the crypto industry, nearly 5,000 new tokens have emerged in the last 12 months, averaging over 10 new coins per day, new data shows.

Cryptocurrency Boom of 2021

As can be observed on CoinMarketCap’s homepage, the number of existing cryptocurrencies has recently surpassed 12,000. This is well over the approximately 7,100 coins recorded by the site in September of last year, meaning that at least 4,900 new digital assets have been created in the last 12 months alone.

This represents the largest YoY surge in the absolute number of cryptocurrencies since Bitcoin’s inception. During this time, the digital asset industry achieved a total market cap of over $2 trillion.

Interest in crypto creation is largely driven by Bitcoin’s price gains in the past year, as well as increasing institutional involvement in the space.

As household names like Elon Musk and Jack Dorsey show support for the industry and its possibilities, both creative and financial interest continues to be drawn into the space. This further bolsters the markets, inspiring developers to work on their own cryptocurrencies to avoid missing out on potential gains and demand.


ADVERTISEMENT

Furthermore, digital assets have garnered high interest as an asset class for hedging against inflation – especially during the economic crisis created by the coronavirus pandemic. While September of 2020 saw stock markets plunge, cryptocurrencies mostly held their value. This may have inspired even more creators to start investing and developing in the emerging asset class.

Is This a Good Thing for Crypto?

Through increased interest and technological development is crucial to the crypto industry’s growth, an ever-growing number of coins may be counterproductive or even dangerous.

For example, SEC chair Gary Gensler is only more skeptical of the space due to the vast number of tokens in existence. Recognizing that there is no room for thousands of different currencies, he plans to further regulate the industry to protect investors before some of them inevitably collapse.

Indeed, many of these tokens seem like dangerous investments – if not outright scams. Over $25 million were lost to crypto scams among Australians only in the first half of 2021

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://coingenius.news/nayib-bukele-chivo-bitcoin-wallet-has-now-more-active-users-than-any-salvadorian-bank-10/?utm_source=rss&utm_medium=rss&utm_campaign=nayib-bukele-chivo-bitcoin-wallet-has-now-more-active-users-than-any-salvadorian-bank-10

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