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Coinbase announced a social NFT marketplace / MATIC transaction volume down 50% / Wormhole launched a BSC <> SOL bridge

Plus: Binance announced a $1B fund for the BSC ecosystem.

Inside.com Part of   Network October 12, 2021

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The global crypto market cap is $2.29T 1.45%▼ with a 24-hour market volume of $109.74B 1.54%▼. Bitcoin's dominance is currently 45.74% 0.89%▼. CURRENT PRICES BY MARKET CAP # Name Price 24h % 1 Bitcoin BTC $55,403.42 3.48% ▼ 2 Ethereum ETH $3,476.49 0.67% ▼ 3 Binance Coin BNB $439.94 7.93%▲ 4 Cardano ADA $2.13 0.14%▼ 5 XRP XRP $1.10 1.97% ▼ Source: CoinMarketCap, 5:00 EST

Coinbase announced the upcoming launch of an NFT marketplace and social feed. The new integrations to the exchange platform are expected by the end of this year. More:  A waitlist for the Coinbase NFT marketplace is now available, but Coinbase did not release details on the official launch. The marketplace is expected to offer similar functionality to OpenSea, including the ability to mint NFTs directly on the platform. Coinbase stated that its new NFT features would be built on a "decentralized marketplace," suggesting that users can use the NFT integrations with other wallets.  The social feed will let users follow other users and artists in a way similar to Instagram.

TOP ETHEREUM NFT COLLECTIONS # Name 24h Volume 24h % 1 Axie Infinity $20.31M 19.94% ▲ 2 MekaVerse $7.76M 62.20% ▲ 3 CrypToadz $3.15M 39.21%▲ 4 MutantCats $3.09M 45.85% ▼ 5 CryptoPunks $2.93M 4.09% ▲ Source: DappRadar, 5:00 pm EST

The Texas Democratic Party has partnered with NFT Marketplace Front Row. The partnership is part of an experiment to raise funds for candidates using NFTs. More: Front Row stated that it has already minted NFTs related to key moments in progressive movements. The funds raised on Front Row will go directly to political groups and individuals. However, Front Row did not comment on compliance measures for campaign finance laws. Under U.S. campaign regulations, candidates for federal office cannot receive over $5,800 from a single individual sale. In addition to political efforts, Front Row said it will also commit to donating part of its proceeds to carbon capture causes.

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🍋 Fresh Funding 🍋  Celsius Network, Lending platform: $400M ⮕  The funding round was led by WestCap and Caisse de dépôt et placement du Québec (CDPQ). More: Celcius has been under fire recently following a report that it took a $1B loan from Tether and regulatory actions from Texas, New Jersey, Alabama, and Kentucky. The fresh funding will be used to expand the Celcius team as well as make “strategic acquisitions.” Celcius reached a post-round valuation of over $3B. SheeldMarket, Broker/Exchange: $10M ⮕ The Series A funding round was led by Atomico with participation from Semantic Ventures, Alexis Bonillo, Pascal Gauthier, and others. More: SheeldMarket is a France-based startup that provides its clients with access to crypto spot trading. The fresh funding will be used to expand its current team and grow its platform to offer access to derivatives trading and permissioned DeFi protocol to its clients. Atomico partner Siraj Khaliq joined the SheeldMarket board of directors as part of the deal.

▲ TOP GAINERS # Name Price 24h % 1 Shiba Inu SHIB $0.01876 16.08% ▲ 2 Perpetual Protocol PERP $15.91 12.90% ▲ 3 Waves WAVES $29.84 12.78% ▲ 4 OMG Network OMG $14.79 10.86% ▲ 5 Binance Coin BNB $439.94 7.93% ▲ ▼  TOP LOSERS # Name Price 24h % 1 Crypto.com Coin CRO $0.1801 7.22%▼ 2 Arweave AR $54.37 6.04%▼ 3 Decred DCR $124.47 5.87%▼ 4 Fantom FTM $2.10 5.74%▼ 5 IOTA MIOTA $1.34 5.59%▼ Source: CoinMarketCap, 5:00 EST *Limited to cryptocurrencies in the Top 100

Daily transaction volume on Polygon (MATIC) has fallen 50% since Oct. 3 following an increase in gas fees. Polygon co-founder Sandeep Nailwal proposed an increase from 1 gwei to 30 gwei. More: Nailwal reasoned that an increase in transaction costs would deter attackers from spamming the network. Developers and NFT creators were also deterred from the network after the transaction costs jumped 30x. MATIC’s price has remained relatively consistent with its current trend despite the effect on the network and transaction volume.

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Binance announced a $1B fund for investments in the Binance Smart Chain (BSC) ecosystem. The fund is allocated for talent development, liquidity incentives, the BSC builder program, and the BSC incubation program. More: The fund will be more widely focused on cross-chain and multi-chain infrastructure for the BSC ecosystem. Half of the funds will go to blockchain services, while the other half will be allocated elsewhere. Around $50M will be allocated to liquidity incentives, which would provide additional bonuses for crypto platforms such as limited-time yield increases for DeFi platforms.

The interoperability protocol Wormhole launched, bridging Binance Smart Chain (BSC) to Solana (SOL). BSC interoperability is the latest integration from Wormhole following its Ethereum (ETH) to SOL bridge. More: Wormhole is an interoperability protocol facilitating both cryptocurrency and NFT bridges. The protocol held over $200M in total value locked before the addition of BSC. BSC offers one of the largest DeFi networks across all blockchains. Last month, BSC processed 10x the amount of transactions as Ethereum.

QUICK HITS Millions of dollars worth of Bitcoin have been lost or stolen. This popular wallet is providing crypto investors a new groundbreaking secure protection.* Bitstamp and ZEBEDEE announced their partnership to allow users to move BTC into virtual gaming environments. El Salvador is experiencing a rise in identity theft as scammers try to claim the $30 sign-up bonus from residents using the Chivo wallet. An unknown buyer, unaffiliated with crypto VC firm Paradigm, purchased paradigm.eth for $1.5M on OpenSea. Payment and transaction company Stripe is hiring crypto-related positions to develop a new bitcoin and crypto team. International humanitarian organization Médecins Sans Frontières received a $3.5M ETH donation from an anonymous donor. E-commerce is nearing $5 trillion annually, but are you missing out on its biggest opportunity? Join the operations experience revolution today.* * Sponsored Content

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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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