NPK TALK SERIES (EPISODE 10)
Welcome to this episode of the NPK Talk Series, where we serve you the latest happenings in the cryptosphere. The week has been engaging as a lot took place.
Looking at Ethereum, Terra Luna Classic zooms nearly 60% in a day. This makes many ask; is the crypto making a comeback? After headline crypto news after its infamous crash triggered by the TerraUSD, or UST stablecoin de-pegging fiasco in May, which in turn resulted in an overall downtrend in crypto markets, Luna Classic (LUNC) token of the Terra ecosystem is in the news again. The Luna Classic token zoomed 57.0961 percent intraday on Wednesday, as per data from CoinMarketCap.
Sky Mavis, developer of play-to-earn game Axie Infinity, has announced that its Ronin Bridge sidechain is back online after aUS$620 million hack prompted a halt in its operations. The Ronin Bridge enables assets transfer between the game’s Ethereum sidechain, Ronin Network, and the Ethereum mainnet.
It is widely known that the crypto market slipped in early trading hours on Thursday. Bitcoin barely held above $20,000 levels while the pains in altcoins were severe. Fear of recession in the global economy and rising inflationary pressure are denting the sentiment for the digital token market. Barring Unus Sed Leo, which gained about 4 percent, and memecoins Dogecoin and Shiba Inu, all of the other crypto tokens were trading in the red on Thursday. Among the losers, Solana plunged about 8 percent, while Polkadot tumbled more than 6 percent. Ethereum and BNB dropped 5 percent each, and Bitcoin was also in the red. The global cryptocurrency market cap was trading at the $892.72 billion mark, dropping more than 2 percent in the last 24 hours. However, the total cryptocurrency trading volume zoomed more than 11 percent to $62.65 billion.
Endlesss, the creation, marketing, and community building platform built for musicians, is been launched on NEAR mainnet. As music production software with social media features, Endlesss is a virtual space for musicians, fans, and collectors alike. With the app, musicians of all skill levels can make, share, collaborate, and collect music in a social way. As part of the launch, Endlesss announced a new feature called “Bands” — an NFT marketplace powered by NERA’s NEP-171 NFT standard.
Lastly, due to the recent challenging experiences for many in cryptosphere, NEAR Foundation re-organized its system to foster the conditions needed for the NEAR Ecosystem to continue its tremendous growth. 17 team members are said to be leaving the foundation, as they will move their skills into the NEAR ecosystem, joining one of the 600+ projects and building the web of the future. Others will join NEAR hub and other community-led projects.
This is all for this week, thank you for sparing your time to read.