Hi Insiders, Hope you enjoyed today's event: The Value of Community in NFTs. I know that I had a lot of fun and learned a lot from Avery, Giselle, Stephan, and Tony. For those of you who missed it, I will be covering some highlights in tomorrow's Inside Crypto newsletter. Until then, keep calm and "hodl" on! | |  Griffin |  |
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The global crypto market cap is $2.40T 1.66%▲ with a 24-hour market volume of $103.40B 6.71%▲. Bitcoin's dominance is currently 45.43% 0.59%▼. CURRENT PRICES BY MARKET CAP | # | Name | Price | 24h % | | 1 | Bitcoin BTC | $57,632.77 | 0.20% ▲ | | 2 | Ethereum ETH | $3,770.50 | 5.31% ▲ | | 3 | Binance Coin BNB | $469.76 | 1.48%▲ | | 4 | Cardano ADA | $2.17 | 0.78%▼ | | 5 | XRP XRP | $1.13 | 1.19% ▲ | Source: CoinMarketCap, 6:00 EST
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 Sotheby’s launched its own NFT auction and generative minting platform. The Sotheby's Metaverse platform will include NFTs for purchase in ETH BTC, USDC, or fiat. More: - The first Sotheby’s Metaverse auction will feature curated works from Pranksy, J1mmy.eth, and Paris Hilton in its ‘Natively Digital 1.2: The Collectors’ collection.
- The platform was developed by NFT compliance platform Mojito.
- Sotheby’s has been very active in the NFT space over the past year, with recent auctions including CryptoPunks and Bored Ape Yacht Club NFTs.
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TOP ETHEREUM NFT COLLECTIONS | # | Name | 24h Volume | 24h % | | 1 | Axie Infinity | $15.52M | 12.66% ▼ | | 2 | MekaVerse | $10.86M | 58.12% ▼ | | 3 | Impact Theory Founder | $7.89M | 13.26%▲ | | 4 | Jungle Freaks | $5.31M | - | | 5 | Eponym | $5M | 250.52% ▲ | Source: DappRadar, 6:00 pm EST
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 Coinbase issued a proposal for a clear regulatory framework for crypto in the U.S. The “Digital Asset Policy Proposal” asks for, among other things, a new "digital first" regulator. More: - Coinbase’s call for a new regulator was consistent with the statements made by a16z during its conversations with Washington yesterday.
- The proposal additionally calls for a registration process for digital asset marketplaces with disclosure requirements.
- For the provisions to be enacted, Coinbase would have to receive support from the White House and an act from Congress. Neither appears to be in their favor at this time.
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Morningstar Ventures announced a $15M investment fund for Elrond (EGLD) blockchain technology. The investment fund will help fund the firm’s strategic Elrond Incubator in Dubai. More: - Elrond network is an internet-scale blockchain that can currently handle 15,000 transactions per second and can further scale with demand.
- Elrond’s smart contract execution platform offsets 25% more CO2 than its network, making it carbon-negative.
- Audi-backed holoride was among the first strategic investments made by Morningstar’s fund.
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▲ TOP GAINERS | # | Name | Price | 24h % | | 1 | Telcoin TEL | $0.0227 | 13.05% ▲ | | 2 | Axie Infinity AXS | $135.72 | 12.08% ▲ | | 3 | NEAR Protocol NEAR | $7.89 | 9.18% ▲ | | 4 | Hedera HBAR | $0.383 | 8.37% ▲ | | 5 | Flow FLOW | $18.80 | 7.89% ▲ | ▼ TOP LOSERS | # | Name | Price | 24h % | | 1 | Mdex MDX | $1.35 | 5.19%▼ | | 2 | UNUS SED LEO LEO | $2.68 | 4.92%▼ | | 3 | Shiba Inu SHIB | $0.00002757 | 3.59%▼ | | 4 | Monero XMR | $267.28 | 2.64%▼ | | 5 | Kusama KSM | $352.25 | 2.37%▼ | Source: CoinMarketCap, 6:00 EST
*Limited to cryptocurrencies in the Top 100
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 Ethereum (ETH) gained 8% over the past day, looking to break $4,000 and move toward its ATH of $4,350. ETH reached above $3,800 for the first time since early September. More: - Despite falling below $2,000 in May, ETH has still gained 900% over the past year.
- The jump in DeFi trading volume may have been reflected in the ETH’s price jump. Around two-thirds of all total value in DeFi is on Ethereum.
- Some researchers believe that the price jump could also be from buyers anticipating the upcoming switch to Ethereum 2.0. However, there has been no single cause for the recent spike.
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 Ripple announced that it joined the Digital Pound Foundation (DPF). The DPF aims to promote and outline a path for a CBDC in the UK. More: - The announcement came three weeks after Ripple partnered with the Royal Monetary Authority on a CBDC for Bhutan.
- Ripple released a report back in March of this year explaining how XRP could serve as a neutral bridge currency for CBDCs.
- Susan Friedman, Ripple’s Head of Policy, stated that over 80% of central banks are currently exploring the use of some form of CBDC.
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- Since it was announced late Tuesday, over 1.4 million users have signed up for Coinbase’s NFT marketplace waitlist.
- Tesla has made over $1B in gains from its 43,200 BTC holdings.
- Uniswap (UNI) hired Obama 2008 campaign spokesperson Hari Sevugan to manage Uniswap’s media affairs.
- Bitcoinist released a list of lesser-known, up-and-coming NFT marketplaces, including Hic et Nunc, OneOf, and WiV Technologies.
- Mexican President Andres Manuel Lopez Obrador stated at a press conference that he has no desire to adopt bitcoin (BTC) as legal tender.
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UPCOMING EVENTS: - October 15 - Investing in early stage crypto projects with Sam Lessin (Set A Reminder)
- October 19 - Inside.com Interview with Virtual Badge Co-Founder Georges Duplessy (Register Here)
- October 26 - October 27 - Meet Our Fund 2 (Register Here)
- October 28 - XR interview with Tripp CEO - Nanea Reeves (Register Here)
- November 03 - VC Crypto with Troy Osinoff (Set A Reminder)
- November 10 - The Subscription Economy (Register Here)
- November 17 - Understanding Solana (Register Here)
- December 08 - The Business of Wellness (Register Here)
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 |  | Griffin McShane is a New York transplant currently living in Brooklyn, NY. He is a graduate of Providence College, where he studied both computer science and business, and the University of Maine School of Law, where he earned his JD. Beyond his work at Inside, Griffin has written articles for CoinDesk and is a member of the International Association of Privacy Professionals (IAPP). | | | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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