The global crypto market cap is $2.22T 2.39%▼ with a 24-hour market volume of $105.1B 0.87%▲. Bitcoin's dominance is currently 40.72% 0.63%▲. CURRENT PRICES BY MARKET CAP | # | Name | Price | 24h % | | 1 | Bitcoin BTC | $48,023.43 | 0.74% ▼ | | 2 | Ethereum ETH | $3,992.15 | 4.71% ▼ | | 3 | Binance Coin BNB | $565.43 | 2.51% ▼ | | 4 | Solana SOL | $173.18 | 5.81% ▼ | | 5 | Cardano ADA | $1.30 | 6.59% ▼ | Source: CoinMarketCap, 5:00 EST
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Ripple co-founder Chris Larsen proposed a transition from proof of work (PoW) for Bitcoin (BTC). The proposal includes significant incentives for miners to facilitate the transition. More: - Larsen’s implementation would take a snapshot of the current hash rate of miners and provide rewards on a pro-rata hash power basis.
- In addition to providing miners with economic benefits without the need for PoW mining, the future right to BTC could also be tokenized and sold.
- Even if miners were to approve of this radical change to the network, Larsen would still have to win over approval from developers and community members in order for the transition to occur.
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TOP NFT COLLECTIONS (24hr Volume) | # | Name | 24h Volume | 24h % | | 1 | Axie Infinity ETH, RONIN | $11.80M | 20.21% ▼ | | 2 | CryptoPunks ETH | $6.52M | 55.76% ▼ | | 3 | Bored Ape YC ETH | $5.94M | 0.43% ▲ | | 4 | Decentraland ETH | $4.09M | 415% ▲ | | 5 | The Sandbox ETH | $3.21M | 6.19% ▲ | Source: DappRadar, 5:00 pm EST
TOP ETH NFT COLLECTIONS (Floor Cap) | # | Name | Floor Price (ETH) | 24h % | | 1 | CryptoPunks | Ξ 68 | 5.15% ▼ | | 2 | Bored Ape YC | Ξ 50 | 5.66% ▼ | | 3 | Mutant Ape YC | Ξ 6.54 | 0.66% ▲ | | 4 | Vee Friends | Ξ 8.88 | 4.59% ▲ | | 5 | Autoglyphs | Ξ 175 | 10.26% ▼ | Source: NFT Price Floor, 5:00 pm EST
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 Gamers Against NFT Integrations. Ubisoft is the latest example of gamers rallying against the idea of NFT integration into gaming infrastructure. - The other day, Ubisoft announced that it would launch Quartz: an NFT platform that would let users purchase NFTs to use as in-game items.
- The YouTube video quickly received 37,000 dislikes, reaching a 96% dislike ratio before being taken down.
- Similarly, Discord CEO Jason Citron received pushback from the Discord community after he shared an image on Twitter of an NFT verification tool.
NFTs & Loot Crates (Analyst's Take): - Some of the community members that rallied against Ubisoft believe the introduction of in-game NFTs is just another revenue stream for developers like loot boxes.
- Loot boxes have been identified as an area of concern by U.S. and U.K. regulators as potentially violating gambling laws and exposing children to problem gambling.
- The integration of an economic marketplace would put a real-life value on in-game items, only furthering the concerns over loot crates and gambling.
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 🍋 Fresh Funding 🍋 Assembly, Blockchain/Layer 1: $100M ⮕ The private funding round was participated in by LD Capital, HyperChain Capital assembly, and Huobi Ventures. More: - Assembly is a layer 1 smart contract network built on the IOTA (MIOTA) blockchain.
- The fresh funding will be used to accelerate the Assembly ecosystem’s DeFi and NFT protocols.
- The Assembly mainnet is scheduled to go live in early 2022, with 70% of the ASMB token supply reserved for incentives and grants.
Router Protocol, Interoperability: $4.1M ⮕ The funding round was led by Coinbase Ventures and participated in by Bison Ventures, DeFi Capital, Polygon, Wintermute, QCP Capital, and others. More: - Router Protocol is an interoperability protocol aimed at connecting major, well-established blockchains.
- To ensure cross-chain security for liquidity bridges, Router has already subjected itself to six separate code audits.
- Prior to the latest funding round, Router raised $485,000 in a seed funding round.
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▲ TOP GAINERS | # | Name | Price | 24h % | | 1 | Celsius CEL | $9.38 | 15.76% ▲ | | 2 | Filecoin FIL | $40.51 | 6.51% ▲ | | 3 | IoTeX IOTX | $0.1291 | 6.24% ▲ | | 4 | NEAR Protocol NEAR | $10.19 | 4.52% ▲ | | 5 | Quant QNT | $169.32 | 2.67% ▲ | ▼ TOP LOSERS | # | Name | Price | 24h % | | 1 | Tezos XTZ | $4.53 | 10.88%▼ | | 2 | WAX WAXP | $0.527 | 9.25%▼ | | 3 | Terra LUNA | $62.83 | 7.85%▼ | | 4 | Loopring LRC | $2.40 | 7.19%▼ | | 5 | Curve DAO Token CRV | $3.46 | 6.95%▼ | Source: CoinMarketCap, 5:00 EST
*Limited to cryptocurrencies in the Top 100
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 The Solana (SOL) validator network is experiencing slow transaction times due to technical issues. Blockchain service provider GensysGo reported that the slowdown started as early as yesterday morning. More: - A now-deleted tweet from SOL NFT platform Blockasset claimed that the technical issues were the result of a DDoS attack.
- Although the latest network issue was not as severe as September’s 18-hour outage, the validator issue has reignited community concerns surrounding network security.
- The price of SOL fell 6.4% in the last 24 hours, deepening a one-month drop of 26.1%.
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The crypto industry spent $5M in the first three quarters of 2021 on lobbying efforts, with 50% of spending occurring in Q3. Not accounting for efforts in Q4, crypto lobbyists have already spent 4x what they did in 2020. More: - Block (formerly Square) spent a total of $1.7M on lobbying since April 2020.
- Coinbase has been one of the biggest spenders in 2021, contributing $625,000 to the cause in Q3 alone.
- Lobbying efforts have seemingly been successful, reflected by the recent U.S. congressional hearing featuring several key crypto industry players.
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- Binance is reportedly in discussions with Indonesia’s PT Bank Central Asia and PT Telkom to establish its presence in the country.
- Pepsi announced the launch of the Pepsi Mic Drop genesis NFT collection on the Ethereum (ETH) blockchain.
- CryptoPunk #4156 sold for $10.26M, making it the largest NFT denominated in USD.
- Parallel Finance won the fourth parachain slot on the Polkadot (DOT) network with 4.5M DOT staked.
- White Castle registered the whitecastleofficial.eth ENS address and changed its Twitter PFP to a Seahams NFT.
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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. | |
DeFi Saver is a one-stop dashboard for creating, managing, and tracking your DeFi positions. | |
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