Bitcoin and cryptocurrency prices fell amid the panic unleashed by the possible collapse of China's real estate giant, Evergrande. This and more news in this practical summary daily so that you are always informed with events most recent that occur within the crypto world.
Cryptocurrencies and altcoins
📍Bitcoin loses support and falls to $41.000 amid panic in China. La cryptocurrency most important in the world suffered an 11% correction in its value this Monday, returning to the level of $41.000 per BTC. The industry's main cryptocurrencies also suffered the correction amid the shock caused by the real estate company Evergrande in China. DeFi tokens, such as ALGO, AVAX and ATOM, have fallen more than 20% in the last few hours.
Source: CoinGecko
This Monday, the Asian giant's shares plummeted 19% due to the possible insolvency of the real estate company to pay its debts, which sparked panic on Wall Street. Evergrande's liabilities, according to date Five days, represent almost 2% of China's GDP, so if it were to collapse it would cause serious damage to China's economy and would affect the world's main stock markets. In addition to the crypto market, concerns surrounding Evergrande are affecting the real estate market, stocks and the yuan. The Argentine stock market appears to be the most affected so far, with a drop in 13%, indicated the local media Clarín.
Bitcoin and Blockchain Adoption
📍El Salvador acquires another 150 BTC to add 700 bitcoins amid the market correction. The president of El Salvador, Nayib Bukele reported the purchase of another 150 BTC, highlighting that the nation already has a total of 700 BTC in its custody and that it is taking advantage of market corrections to acquire more BTC.
Although Bukele did not report the amount invested in the new bitcoins, the estimated price at the time of its publication was about $6,8 million, with Bitcoin close to $45.700 per unit. However, at the time of going to press, the price of BTC has fallen to $41.850, with a correction of more than 11% in its price in the last few hours.
NFT and DeFi Markets
📍Shakira joins the global NFT trend and launches its first crypto collectibles on the blockchain today. The Colombian artist today launches her own collection of non-fungible tokens (NFT) designed by crypto artist Bosslogic. The NFTs will be available from today on the MakersPlace NFT platform. The NFT collection, called “La Caldera” shows the successful singer in an intergalactic fantasy world ruled by women. The NFTs contain art designed by Bosslogic as well as original musical pieces performed by Shakira for this exclusive collection.
Shakira reported that she is collaborating with Aerial to offset the carbon footprint of her NFTs and that part of the funds raised from the sale of the NFTs will go to the Pies Descalzos Foundation, dedicated to helping children in poverty and victims of the Colombian conflict. .
📍Fortune magazine, specialized in business, donates its NFT profits to journalism organizations. Fortune announced a new aid fund, called FORTUNE Journalism PleasrFund, which will benefit journalism organizations with their NFT profits. The American publication allocated almost half of its profits from the sale of its August-September cover as NFT to finance and promote journalism.
The donation fund was launched on Ethereum through the charity DAO Endaoment. To date, the fund has 209 ether, worth approximately $660.000 based on the ETH price at the time of the announcement. Fortune reported that 4 journalism organizations will benefit with about $165.000 in ether each.
📍VCF token holders can vote on the design of the team's next jersey. Valencia Fútbol Club is the first to allow holders of its $VCF Fan Token to vote on the design of its next shirt for the Copa del Rey. The football team has opened a poll via Twitter in which token HODLers can vote on the design of their preference. In total, $VCF holders have 5 t-shirt options available to choose from.
Fan Tokens are tokens that, in addition to having a monetary value in the market, were designed to build loyalty among fans of players and sports teams, giving access to benefits, discounts, preferential tickets to matches, voting power over future decisions. of the team, among others.
Development and Technology
📍Optimism developers report new updates to the protocol. Now it is possible to implement contracts and rollups with just one click. Through a publication On their blog, Optimism developers reported that one-click deployment will arrive next month. These improvements will help any tool that can run on Ethereum be implemented identically on Optimism.
Cybersecurity
📍BSC DeFi protocol pNetwork loses nearly $13 million in hack. This Monday, the decentralized finance protocol pNetwork was exploited, losing $12,7 million due to a vulnerability present in its code. The losses, as confirmed by the protocol developers on Twitter, occurred in the Wrapped Bitcoin (pBTC) bridge at the BSC, with a total of 277 pBTC extracted by the hacker from the platform. At the time of the exploit, pBTC was worth $12,7 million, leaving hundreds of users affected.
The pNetwork code had a bug that was exploited by the hacker to extract the funds. The developers assure that they are already correcting this error to avoid further losses and that the other bridges in the protocol were not affected. However, the DeFi protocol paralyzed the bridges to implement new additional security measures. Also, the developers are offering a reward of $1,5 million to the hacker to return user funds.
Rules and Regulations
📍In Thailand, the SEC gave the green light to Fraction (Thailand) Co. to offer asset-backed tokens. According to reported The company was granted the Thailand ICO portal license by the Securities and Exchange Commission (SEC) of Thailand, so it can now operate an asset-backed token offering service. Fraction will launch IFO (Initial Fraction Offering) to offer tokens for fractional ownership of physical or digital assets, it reported in its statement.
The goal of this company is to enable people and businesses to invest, sell and manage fractional ownership of anything. The company explains that this property can be anything from a small stake in a city condominium, a beachfront resort, a work of art or even the management of a private fund, assets and investors. Fraction is the first company to offer this service in Thailand on a regulated basis.
📍According to Türkiye's president, the nation is at “war” with Bitcoin. Recep Tayyip Erdogan, president of Türkiye, has saying The nation is at war with Bitcoin, and will therefore impose strong measures to curb the proliferation of this cryptocurrency within its territory. According to its statements, the nation is open to digital money, and is therefore evaluating the creation of the digital Turkish lira, which would be issued by the country's Central Bank. However, the devaluation of its local currency is what is driving the use and adoption of Bitcoin in the country, as a means of storing value.
Continue reading: Axie Infinity, the blockchain game to earn money, exceeds 1,5 million active users
