Web3 🌒 Saturday Headlines: NFT Market Shakeup, SEC vs. Coinbase, Crypto in India & Memecoin Mania
1/ NodeMonkes Dethrones CryptoPunks as Top NFT Seller.
2/ Coinbase's Appeal on Crypto Regulation Rejected by SEC.
3/ India's FIU Approves Binance and KuCoin.
4/ Memecoins on the Rise After Trump Announcement.
For further details, let's keep reading! 🍀
Today we'll dive into the dethroning of a long-reigning leader and explore the changing landscape of digital collectibles. Shifting gears, we'll examine a regulatory battle brewing between the SEC and a major crypto exchange. Finally, we'll explore how India's stance on cryptocurrency might be evolving, with recent approvals granted to prominent exchanges. Buckle up and get ready for a whirlwind tour of the hottest crypto headlines!
1/ NodeMonkes Dethrones CryptoPunks as Top NFT Seller.
In the world of NFT sales, there's a new leader! NodeMonkes, a Bitcoin collection, has dethroned CryptoPunks, the Ethereum collection that reigned supreme for two days.
On Thursday, NodeMonkes raked in a whopping US$876,936, surpassing CryptoPunks and claiming the top spot. DMarket, a collection of in-game items for Mythos Chain, also joined the top sellers list, coming in second place on Thursday. This shake-up in the NFT market highlights the ever-changing landscape of digital collectibles.
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2/ Coinbase's Appeal on Crypto Regulation Rejected by SEC.
The SEC has rejected Coinbase's attempt to get an appeals court to weigh in on a key question regarding cryptocurrency regulation. The question is whether existing securities rules can be applied to cryptocurrencies. Coinbase, the leading U.S. crypto exchange, is seeking clarity on whether the Howey Test, a framework used to determine if an asset qualifies as a security, applies to digital assets. The SEC, on the other hand, contends that Coinbase is attempting to establish a new legal standard and that the case does not present a significant legal issue. Coinbase maintains that the SEC's lawsuit hinges on the applicability of the Howey Test.
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Nikhilesh De
3/ India's FIU Approves Binance and KuCoin.
India's Financial Intelligence Unit (FIU-IND) has granted approval to two major cryptocurrency exchanges, Binance and KuCoin. This move comes as countries around the world grapple with how to regulate cryptocurrency. India has been at the forefront of these discussions, but has yet to establish its own domestic regulations. This approval by the FIU-IND suggests a more open stance towards cryptocurrencies in India, potentially paving the way for clearer regulations in the future.
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Ruholamin Haqshanas
4/ Memecoins on the Rise After Trump Announcement.
Get ready for a wild ride! Following an announcement by former US President Donald Trump, memecoins featuring presidents past and present are experiencing a surge in value. Trump revealed he would be accepting cryptocurrency for campaign donations, sparking renewed interest in the digital currency space. Additionally, he took a jab at current President Joe Biden's grasp of cryptocurrency. Buckle up and hold on tight as the memecoin market heats up!
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The digital asset landscape continues to evolve rapidly. This week saw a shakeup in the NFT market with a new leader emerging, regulatory hurdles in the US regarding cryptocurrency classification, and a potentially more open stance towards crypto in India. The world of crypto and NFTs is full of surprises!
Disclaimer: The information provided in this blog post is based on external sources. Please do your own research and due diligence before making any investment or financial decisions based on the content shared here.
