NFT market updates from Xillion.one: 7/1/22
Top 5 NFTs ($ Sales Rev):
1.Bag #53252: 391.51K
2.Dementorstown #2140: 389.55K
3.Dementorstown #4532: 387.6K
4.Dementorstown #2141: 385.67K
5.Dementorstown #4533: 381.95K
Top 5 Marketplaces ($ Sales Volume):
3.Magic EDen: 1.52M
Meta Launches New NFT Display Options on Facebook
As with Instagram, which launched the first stage of its NFT support program back in May, when users tap through on these images, they’ll be able to see who owns the artwork, and who created it, along with a brief description of the piece.
The information is sourced via the NFT detail listed on the public blockchain, with Facebook set to provide support for Ethereum, Polygon, and all the major exchanges, and NFT owners able to connect their Rainbow, Trust Wallet and MetaMask accounts to verify NFT ownership.
JPMorgan Says Crypto Market Deleveraging Cycle Won’t Be Lengthy
The weakest crypto companies, those with high leverage and lower capital levels, are the most challenged. Conversely, those with the healthiest balance sheets are most likely to survive and will emerge stronger once this current phase is over, the report says.
JPMorgan identifies two reasons to suggest that the cycle may not be very protracted: Stronger crypto companies with more robust balance sheets are stepping in to help contain contagion, and the continued healthy pace of venture capital (VC) funding, an important source of capital for the digital assets ecosystem.
MakerDAO members shoot down proposal for more centralization
MakerDAO members turned up in record numbers to preserve the principles of decentralization, setting new precedents for future DAO governance.
In a major win for decentralization, members of MakerDAO, the lending protocol behind the Dai (DAI) stablecoin, have rejected a series of proposals that would have seen the protocol’s governance structure become more centralized.
MakerDAO took another major step this month, with the protocol signaling its intent to invest a portion of its dormant stablecoin reserves into traditional financial assets.
Pentagon-commissioned report claims just 4 entities can disrupt Bitcoin
“The number of entities sufficient to disrupt a blockchain is relatively low: four for Bitcoin, two for Ethereum, and less than a dozen for most PoS networks.”
The report was commissioned by the Pentagon’s research and development branch, the Defense Advanced Research Projects Agency (DARPA), which is tasked with investigating technology for potential military use.
Bitcoin has a Nakamoto coefficient of four, meaning taking control of four mining pools would be enough to attack the network. The closer the coefficient is to one, the more centralized it is.
Other key findings include that over a fifth of Bitcoin nodes are running an old client version, which has known vulnerabilities. And 60% of all BTC traffic passes through three Internet Service Providers.
Viral TikToker Khaby Lame Becomes Binance’s Brand Ambassador
Khaby Lame became famous for making funny life hack videos on TikTok. Khaby is currently the most-followed creator on TikTok, with more than 142 million followers on the platform, and 78 million followers on Instagram, gathering above 2.5 billion likes.
Just seven days back, Binance made an NFT contract with Christiano Ronaldo.
Khaby will use his signature comic moves to debunk some of the Web3 myths and tackle crypto-related misconceptions. This partnership also includes Khaby-exclusive NFT collections to enhance the experience for his fans.
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