Following its highest single-day gain on the last day of February, the crypto asset market is currently facing a pullback. In the previous 24 hours, the global crypto market valuation has dropped by 3.3 percent to $1.84 trillion. Bitcoin was rejected at $45,400, a critical resistance level that has traditionally triggered market corrections. Furthermore, the intensification of the Russia-Ukraine crisis, which included the seizure of a nuclear power facility, has compelled investors to engage in a moderate panic sell-off. In this article, we’ll look at some of the most noteworthy crypto tales from around the world.
Swiss city is pro crypto
The city of Lugano in Switzerland has collaborated with Tether (USDT), the world’s largest stablecoin by market value, to begin accepting cryptocurrencies for tax payments. By experimenting with blockchain solutions on a broader scale, the alliance hopes to demonstrate real-world use cases for the technology. Tether intends to use the Lightning network, a second layer solution for Bitcoin, to alleviate the city’s infrastructure’s scalability issues. Tether will also develop a multi-million dollar fund as part of the agreement to assist support blockchain-based enterprises and blockchain services in the region.
Adaswap gets Star backup
Despite having only six decentralized protocols (DeFi) on the chain, Cardano has amassed a total value locked of $134 million (TVL). Developers are increasingly choosing decentralized exchanges (DEX) as their preferred protocol. Four of Cardano’s six protocols are currently decentralized exchanges. SundaeSwap is the band’s most valuable member, with $120 million in TVL. Given the surge in DEX, Adaswap, which has been in development, has raised $2.6 million in a funding round led by a number of investors, including actress Gal Gadot and Coti, the issuer of Cardano stablecoin Djed.
Adaswap plans to issue the ASW token to exchanges, implement a staking mechanism, and establish the ADANFT marketplace, according to its roadmap. The AMM (Automated Market Maker) interface for AdaSwap DEX, Stake & Forget protocols is also planned for the DEX platform. By March 2023, the Adaswap team intends to build Cardano bridges with Ethereum, BSC, and Casper currencies.
The Sandbox has reached a significant milestone.
With 2 million registered users during its play-to-earn season 2 alpha launch, the Sandbox metaverse game owned by NFT investment behemoth Animoca Brands has reached a big milestone. After its long-awaited season 1 alpha launch in late November, the crypto game supported by NFTs and its native SAND currency has begun season 2.
Users can freely explore 35 various virtual experiences, including a sneak peek into the “Snoopverse,” which was created in collaboration with famed musician and NFT supporter Snoop Dogg. Players can complete 200 quests for a chance to win an Alpha Pass NFT, which can be valued up to 1,000 SAND at current pricing, or around $3,000 in game currency.
Purchasing Real Estate Is Made Easier
The decentralized Ekta Real Estate NFT marketplace gives early liquidity to real estate developers by allowing investors to own parts of projects with their crypto assets. Small scale investors will be able to take ownership of huge projects through fractional NFTs, which will be developed and linked to real estate. The NFT platform will go live in late March, with big international real estate developers launching their initial offerings in April.