All Screens Scream Green

Nearly everything is in the green today, even XRP continues to pamp higher

Author

Jonathan Morgan
August 08, 2024

OVERVIEW

All Screens Scream Green 

It’s official - the crypto market is now in positive territory for the week. The total crypto market cap and altcoin market cap are in the green, +1.5% and +4%, respectively. 🟩 

Crypto analysts and pundits everywhere are attributing today’s rally to the end of Ripple’s battle against the SEC. XRP itself closed +18% higher yesterday - but is struggling to hold onto its modest +3% gains today.

Even the big boys like Bitcoin (+8%) and Ethereum +10% are getting a lot of love today. 👍️ 

And I’m not sure when the last time this happened, but out of all the cryptocurrenciesI watch with a market cap of at least $300 million, none are in the red.

In today’s Litepaper, we've got MetaMask teaming up with MultiversX for on-chain 2FA, Immutable ditching their NFT marketplace, Toncoin shrugging off the Binance curse, and much more. 📰

Before we dive in, here’s today’s crypto market heatmap:

Source: Santiment

And here’s a look at crypto’s total and altcoin market cap YTD:

NEWS
Crypto News In Three Sentences 📰

🔐 MetaMask and MultiversX Team Up for On-Chain 2FA 

MetaMask is partnering with MultiversX to roll out on-chain two-factor authentication, making your crypto wallet safer than ever. This new feature, Guardians, adds a secondary confirmation for transactions, even if your seed phrase gets nabbed. The goal is simple: beef up security and make it easier for MetaMask users to protect their assets. More from The Cryptonomist.

🛑 Immutable Shuts Down NFT Marketplace to Focus on Ecosystem

Immutable ($IMX) is shutting down its NFT marketplace on August 13 to concentrate on supporting other marketplaces within its ecosystem. With NFT sales volumes tanking, this strategic pivot aims to strengthen ecosystem partnerships rather than competing directly. Users’ assets remain safe and accessible, living on the blockchain no matter which marketplace they use. Presser From Immutable.

🚀 Toncoin Surges 10%, Binance Listing 

Toncoin ($TON) shrugged off the Binance curse, jumping 14% to $6.20 after its listing was announced. Binance is rolling out spot trading for TON today, but they're slapping a "seed tag" on it, warning of high volatility and risk. Despite past failures of Binance-listed tokens, Toncoin fans are betting this will boost the project's credibility and visibility. From CryptoSlate.

💼 Binance Recovers $73 Million in Stolen Funds 

Binance ($BNB) flexed its security muscles, clawing back over $73 million in stolen funds this year, beating last year’s total. They credit blockchain transparency for the recovery, saying it helps track and reclaim lost assets from hacks and scams. Binance is all about keeping new investors from getting fleeced and not adding more regulatory scrutiny to their plate. CryptoBriefing has more.

🎮 Pixelverse and Azur Games Boost Telegram Mini-Games 

Pixelverse is teaming up with Azur Games to level up Telegram mini-games, moving past the clicker game craze. Co-founder Kori Leon insists on fresh mechanics to keep players hooked and blend Web3 with traditional mobile gaming. The goal? Make Telegram games fun and interactive with blockchain elements to keep players coming back. More from Cointelegraph.

📊 Young Europeans Flock to Crypto, Led by Swiss Millennials 

A Bitpanda and YouGov survey reveals young Europeans, especially in Switzerland and Austria, are diving headfirst into crypto. Millennials and Gen Z are driving this trend, with nearly one-third owning digital assets. Despite market chaos, the hunt for financial independence and fat returns keeps crypto alluring for the new generation. Full story at cryptonews.

🕹️ Lamborghini Roars into Web3 with Animoca Partnership 

Lamborghini is partnering with Animoca Brands to deliver digital experiences for its fans, including possible digital Lambos in the Motorverse. This collaboration hopes to mix luxury cars with blockchain tech, creating unique fan engagements. Animoca’s Revv token might get a boost from this, but it's still a small fish in the big crypto pond. From AnimocaBrands.

💸 Aave DAO and Trident Drop $100M Onchain Fixed-Yield Loan 

$AAVE DAO and Trident Digital launched a $100 million onchain fixed-yield loan, aiming to give lenders a stable ride through market turbulence. This initiative, supported by ITB and TokenLogic, locks in 33,000 $ETH for three months with fixed rates. It's all about cutting unpredictability and offering a stable investment option in the wild world of DeFi. BeInCrypto has more.

💰 FTX and CFTC Settle for $12.7 Billion, Wrapping Up Lawsuit 

FTX and Alameda Research reached a $12.7 billion settlement with the CFTC, closing a lengthy lawsuit over alleged fraud. The deal directs all funds to creditors, bypassing the CFTC, provided FTX sticks to its reorganization plan. This settlement is a big step towards cleaning up the mess from FTX's implosion and paying back creditors. Full story at TheBlock.

🚨 OneCoin’s ‘Cryptoqueen’ Assets Frozen by UK Court 

The UK High Court has slapped a worldwide freeze on assets linked to OneCoin’s Ruja Ignatova, the notorious ‘Cryptoqueen’ who swindled investors out of $4 billion and vanished in 2017. The freeze targets Ignatova, co-founder Sebastian Greenwood, and their cronies, who allegedly laundered OneCoin’s ill-gotten gains. Despite her Houdini act, Ignatova's ghost popped up linked to a London property, reigniting the hunt for one of the FBI’s most wanted. Decrypt has more.

🎲 Vega Crashes the Prediction Market Party 

Vega, with a nudge from Coinbase Ventures, is muscling into the prediction market scene to give Polymarket a run for its money. Their latest blockchain upgrade lets users bet on future events, expanding beyond their usual DEX playground. From CoinDesk.

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