NFT

Solana Dominates NFT Market Amid Crypto Market Cooling Off

Wednesday. August 28 at 4:30 PM

1 min. read

Solana, excluding USDT, ranks as the fourth largest blockchain platform. SOL, its native token, has outperformed Bitcoin in the past year. Despite concerns of a delayed market wave, Solana gains momentum, leading in NFTs with a 35% market share. Ethereum lags behind at 16%. Solana attracted 8,400 users in a day, while Polygon drew 6,100. Solana boasts 40,000 weekly active users, surpassing 1.5 million year-to-date. Ethereum leads in trading volume, with $7.3 billion in NFTs traded in a year. Solana's rise is attributed to low fees and scalability. Ethereum's gas fees have decreased due to upgrades like Dencun hard fork. Base, an Ethereum layer-2, attracted 14,500 users. As Solana gains traction, traders anticipate a potential surge to $210 if it breaks above $190.

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SEC Expands Lawsuit Against Binance

Saturday. September 14 at 4:00 AM

The US Securities and Exchange Commission has broadened its lawsuit against Binance by including more tokens as securities. The updated legal filings now mention tokens like Axie Infinity Shards (AXS), Filecoin (FIL), ATOM, SAND, and MANA as securities. This move is part of the SEC's ongoing efforts to regulate the crypto industry and classify digital assets as securities. The regulator accuses Binance and its US affiliate of facilitating the trade of unregistered securities and promoting these tokens to customers. The SEC also reiterates that Binance operated illegally as an unregistered exchange, broker-dealer, and clearing agency. The lawsuit has drawn criticism, with the SEC facing scrutiny for its contradictory statements. The chief legal officers at Ripple and Coinbase have questioned the SEC's actions, highlighting inconsistencies in its approach to crypto asset regulation.

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The Demise of Celebrity Meme Coins

Friday. September 13 at 10:30 PM

A celebrity-endorsed meme coin, promoted by Neymar Jr and Roger Waters, failed to gain traction, resulting in a meager market cap of $19,000 and minimal liquidity. The token, AB, was shared by high-profile Twitter accounts in what seemed like a coordinated hack. Despite reaching millions of users, the coin's value plummeted, leading to criticism from experts. This incident reflects a broader trend of celebrity meme coins facing skepticism from investors, following previous instances of similar tokens crashing after initial hype. The failure of this particular coin, along with past scams involving celebrities like Caitlyn Jenner and Metallica, signals a shift in investor sentiment towards such projects. Analysts suggest that the era of celebrity-backed meme coins may be coming to an end, as traders become more cautious in light of recent high-profile failures.

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Evolution of 3D Animation Technologies and Web3 Collaboration

Friday. September 13 at 10:00 PM

Animation studios are embracing Web3 to engage audiences through digital assets. Locus, a 3D animation studio, has partnered with MEW on the Solana blockchain to create a 3D animation series. This collaboration aims to expand MEW's reach beyond the crypto space and enhance its global recognition. Sujin Hwang, from Locus, discusses how advancements in 3D animation technologies have revolutionized content production. Real-time rendering and AI tools have improved visual effects and character animations, making storytelling more immersive. The collaboration with MEW introduces its characters through animation, merchandise, and digital assets, aiming to attract new fans and generate revenue. Web3 offers transparent business models and global market access, providing new revenue streams for studios like Locus. By creating Web3-native IPs, such as MEW, studios can engage fans actively and foster a sense of ownership, driving community growth and revenue opportunities.

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Surge in Popcat Price Following Kraken Exchange Support

Friday. September 13 at 5:00 PM

The price of the Solana meme coin Popcat (POPCAT) has surged after Kraken exchange announced its support for spot trading. Following Binance's listing of the POPCAT perpetual contract, the coin had already seen a 30% increase. With Kraken set to add Popcat on September 19, 2024, the price rose from $0.58 to $0.67. CoinGecko data indicated a 10% increase, with the price hovering around $0.66. Popcat is currently available on various exchanges, including Bybit and Kucoin, but major platforms like Binance and OKX are yet to offer spot trading. Kraken's move has been well-received by the community, signaling a positive step towards increased visibility. While the current price is significantly higher than the all-time low, there is still room for growth towards the all-time high of $0.99. Other meme coins like SUNDOG and CAT have also experienced upward trends recently.

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