CryptoPunk #7523 sold for a record $11.8M / El Salvador announced volcanic BTC mining / Fresh Funding

Plus: NFTify launched an AI service for protecting IP rights in NFTs

Inside.com Part of   Network June 10, 2021

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The global crypto market cap is $1.57T 0.74%▼ with a 24-hour market volume of $105.45B 18.47%▼. Bitcoin's dominance is currently 43.56% 1.14%▲. CURRENT PRICES BY MARKET CAP # Name Price 24h % 1 Bitcoin BTC $36,507.46 1.44% ▲ 2 Ethereum ETH $2,456.36 4.27% ▼ 3 Binance Coin BNB $350.41 4.26% ▼ 4 Cardano ADA $1.53 3.41% ▼ 5 Dogecoin DOGE $0.3259 2.71% ▼ *Prices as of 3:30 p.m. ET.

El Salvador announced a state-owned geothermal bitcoin mining operation powered by a volcano. President Nayib Bukele has invited miners to use the facilities for zero-emission bitcoin mining. More: The mining facility will be powered by a geothermal energy plant that is said to have a production capacity of approximately 95 megawatts. The decision comes amid a widespread shutdown of bitcoin mining in China. President Bukele recently approved bitcoin as the second official currency of El Salvador after the U.S. dollar.

CryptoPunk #7523, titled “COVID Alien,” sold at Sotheby’s Auction House for a record $11.8M. The COVID Alien was the highest-selling CryptoPunk, beating the $7.57M sale of Alien CryptoPunk #7804. More: There are 10K unique CryptoPunks that were randomly generated through an algorithm created in June 2017. Alien CryptoPunks are especially rare, with only nine CryptoPunks sharing the blue-green alien complexion. The NFT was purchased by billionaire and largest DraftKings shareholder Shalom Meckenzie.

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▲ TOP GAINERS # Name Price 24h % 1 Chiliz CHZ $0.2627 11.81% ▲ 2 Bitcoin Gold BTG $70.33 7.26% ▲ 3 Terra LUNA $5.92 5.06% ▲ 4 Polkadot DOT $22.79 1.77% ▲ 5 Huobi Token HT $14.37 1.65%▲ ▼  TOP LOSERS  # Name Price 24h % 1 Internet Computer ICP $66.64 18.63%▼ 2 THORChain RUNE $8.48 12.26%▼ 3 Curve DAO CRV $2.24 10.92%▼ 4 BakeryToken BAKE $2.87 9.95%▼ 5 NEAR Protocol NEAR $2.95 9.02%▼ *Limited to cryptocurrencies in the Top 100. Prices as of 3:30 p.m. ET.

🍋Fresh Funding🍋 Foundation Devices, Hardware Wallet: $2M⮕The seed funding round was led by Bolt with participation from Warburg Serres, Fulgur Ventures, Third Prime, Deep Ventures, and others. More: Foundation provides an open hardware foundation for bitcoin using decentralized, open-source software. Passport, the company’s first hardware wallet, began shipping last month. The latest fresh funding will be used to improve Passport’s firmware updates, design enhancements, and companion software. Ledger, Hardware Wallet: $380M⮕ The Series C funding round was led by 10T holdings with participation from Draper Associates, Tekne Capital, Uphold Ventures, Rosemoor Capital, Libertus Capital II, and others. More: Ledger has reached unicorn status with a $1.5B valuation. According to the announcement, Ledger has sold over 3M hardware wallets which secure around 15% of all cryptocurrencies in circulation. Ledger plans to use the fresh funding to expand its offerings across all crypto ecosystems and expand its DeFi solutions.  Unbound Finance, DeFi/Stablecoin: $5.8M⮕ The seed funding round was led by Pantera Capital and Arrington XRP Capital, with support from CMS Holdings, Hashed, LedgerPrime, LD Capital, ArkStream Capital, ZeePrime Capital, Coin98 Ventures, and others. More: Unbound developed the first decentralized cross-chain stablecoin. The startup is a provider of liquidation-free collateralization for interest-free loans against liquidity pool tokens. Unbound will use the fresh funding to further the development and growth of their team and protocol.

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QUICK HITS Transform window shoppers into loyal customers with these 5 tactics used by best-in-class brands. * NFTify launched its NFTify AI Services demo to protect intellectual property rights and identify fake or duplicate NFTs. Coinbase partnered with ForUsAll to provide crypto investments for retirement accounts. 1inch released the 1inch Limit Protocol, providing an efficient solution to set limit orders on Ethereum, Binance Smart Chain, and Polygon ecosystems. Polygon committed over $10M to 0x to reach 1M users on the 0x API. Silvergate Bank abruptly ended its business dealings with Binance, disabling USD deposits and withdrawals from the Binance platform. The International Monetary Fund (IMF) expressed disapproval about El Salvador’s decision to officially adopt bitcoin as a second currency. The Basel Committee for Banking Supervision suggested that banks should hold a dollar for every dollar exposed to bitcoin. State Street announced the addition of a new digital assets arm. Invest, borrow, and spend in one place, with sophisticated automation tools to help you reach financial goals more easily. * *This is sponsored content.

Griffin McShane is a J.D. candidate currently living in Portland, Maine. He is a graduate of Providence College, where he studied both computer science and business. Griffin aspires one day to go to the moon and bring some of his altcoins along for the ride. Editor Eduardo Garcia is a writer and editor based in New York. He is writing an illustrated book about climate change that will be published by Ten Speed Press, an imprint of Penguin Random House. Bylines in The New York Times, The Guardian, Slate, Scientific American, and others. In one of his previous lives, Eduardo worked as a Reuters correspondent in Latin America for nearly a decade.

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