Ethereum's second-layer protocol zkSync follows Optimism and confirms that it will issue its own token. This and more news in this handy daily digest so that you are always informed with the latest events happening within the crypto world.
Cryptocurrencies and stablecoins
📍Ethereum's scalability and privacy protocol zkSync confirms plans to launch its own token. Ethereum's ZK-based scaling and privacy protocol has confirmed plans to create a token to leave the project in the hands of the community.
The news was released by crypto journalist Wu Blockchain and several community members after zkSync developers updated a Q&A section, answering the question affirmatively. will there be a token?.
In addition to zkSync, Ethereum scaling layer 2 protocols Optimism and Hop Protocol have also confirmed that they will launch their own tokens.
📍In April, 244 cryptocurrency financing deals were made. According to The Block, April was the month with the highest number of crypto-related funding deals. In its latest report, the analytics platform highlighted the participation of venture capital firms such as Dragonfly Capital, Union Square Ventures, and Framework Ventures as investors in the crypto industry.
NFT and DeFi Markets
📍Trading volume for Yuga Labs NFT collections drops by 34% on average. According to data from analytics platform NFTgo, trading volume for Yuga Labs’ NFT crypto collections Bored Ape, Mutant Ape, and Otherdeed has dropped 13%, 39%, and 52% respectively over the past 24 hours.
Source: NFTgo
Despite the drop in trading volume, virtual land NFTs from Yuga Labs' Otherside metaverse, Otherdeed, continue to be the most traded on the platform, moving more than $15,3 million in the past 24 hours.
Cybersecurity
📍Opensea, the largest NFT marketplace in the industry, has once again been targeted by phishing. Users of NFT marketplace Opensea faced a new phishing attack over the weekend, targeting their Discord group.
According to reports published by Opensea, the channel on the freeware instant messaging service Discord was compromised, allowing a malicious actor to post a series of links within its channels. Opensea's support team warned the community about the attack, asking users to Do not click on any published links through this means, to avoid any possible scam.
NFT Conference
📍Blockchain Summit Global will host a conference on NFTs and the Metaverse in Montevideo, the capital of Uruguay. The first edition of the event will be held on June 15 and 16. Minting Summit, an event focused on the metaverse and non-fungible tokens (NFT), which will take place in person and virtually.
The event will be aimed at anyone interested in learning more about the digital world. Among the various topics to be discussed during the NFT conference will be music, fashion, crypto art, sports, gaming, digital real estate, and blockchain collectibles. The current state of the NFT market, decentralized finance (DeFi), and blockchain platforms, among other topics, will also be discussed.
The event will feature representatives from major ecosystem projects such as The Sandbox, Decentraland, Polygon, Play One NFT, Louis Vuitton, Capital Sports, Adidas, Axie Infinity and many more.
Rules and Regulations
📍From China, a new province attacks Bitcoin mining. Local authorities in Guangdong province published a reform in which Cryptocurrency mining ordered to be restructured, based on the Proof of Work (PoW) consensus mechanism, within its territory.
The province wants to minimize damage to the environment and has ordered the removal of energy-intensive mining equipment, which emits large amounts of carbon into the air.
Specifically, local authorities have ordered that cryptocurrency mining equipment such as graphics cards, ASIC equipment, FPGA integrated circuits, and others must be removed in the province. In its statement, Guangdong noted that these mining equipment are obsolete and do not contribute to national economic activities.
📍The National Bank of Georgia will regulate cryptocurrencies later this year. The country located between Europe and Asia reportedly plans to regulate the cryptocurrency industry this year.
The Governor of the National Bank of Georgia, Koba Gvenetadze, told The Crypto Times in an interview that he and the International Monetary Fund will create a regulatory framework for the crypto industry by the end of this year. The initial draft of the crypto regulation, which will comply with FATF requirements, is expected to be ready between September and November.
Georgia says it does not have accurate data on the volume of cryptocurrency trading taking place within the country, so crypto regulation will focus on the oversight of virtual asset service providers (VASPs), licensing and compliance. The bill will not regulate cryptocurrency mining in the territory, and will classify crypto users as high-risk clients, who must undergo additional preventive measures, Gvenetadze noted.
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