๐ธ What Happened in Crypto Today
Today's events affected NFTs, crypto exchanges, and tokenized asset regulation.
Sharp Drop in Top NFT Prices
Blue-chip NFT collections recorded double-digit weekly declines as ETH pulled back from its all-time highs.
๐ก Pudgy Penguins fell โ17.3% โ 10.32 ETH
๐ก BAYC โ โ14.7% โ 9.59 ETH
๐ก Doodles โ โ18.9% โ 0.73 ETH
๐ก Other collections like Moonbirds and Lil Pudgys also dropped by more than 10%.
The main reason is the ETH correction โ after hitting a new ATH, the asset fell by 12%.
Gemini Overtakes Coinbase in App Store Rankings
Crypto exchange Gemini (founded by the Winklevoss twins) launched an XRP Mastercard with up to 4% cashback in XRP. Following the launch:
๐ก Gemini jumped to 16th place in the U.S. App Store finance category.
๐ก Coinbase slipped to 20th place.
Interestingly, Coinbase still has three times the daily trading volume, but Gemini's marketing move provided a significant boost.
Regulators Push Back on Tokenized Stocks
ESMA, IOSCO, and WFE have sent a letter to the SEC requesting stricter rules for tokenized stocks.
๐ก According to regulators, such assets "mimic" stocks but donโt provide the same investor rights.
๐ก They expressed concerns about the lack of transparency and buyer protection.
๐ก This could slow down the adoption of tokenized securities, despite their growing popularity on Wall Street.
