Coin Bureau Insider: COIN BUREAU NEWSFLASH! – (06/03/22) He | Coin Bureau Insider
Coin Bureau Insider:
COIN BUREAU NEWSFLASH! – (06/03/22)
Here are some of today’s most important headlines:
The start of 2022 has seen massive corrections across both BTC, ETH and other altcoins and supposed ‘Ethereum killers’, with crypto’s market capitalisation experiencing a 21% fall to $1.77 trillion.
However, the retracement has been especially stark for one popular layer 1 in particular.
The price of Solana’s native SOL is down 48.5% on the year and this has been largely attributed to a series of network outages witnessed over preceding weeks and months.
The latest of these issues took place on 7th Jan in the wake of a Distributed Denial of Service attack that saw Solana developers forced to update the network’s architecture.
These problems have been aggravated by a reduction in the use of Solana based Dapps.
However, hope for the Solana network comes via the gaming sector.
Solana NFT marketplaces like Magic Eden and Solanart continue to see admirable use and Solana Ventures has bet big on the blockchain gaming sector in a series of partnerships in the hope that this will showcase the network’s speed.
Further hope is provided by nearly three quarters of SOL being locked in staking indicating a high degree of confidence among Solana enthusiasts.
According to CoinTelegraph, “As long as Solana Labs’ partnerships continue to show potential, there is little reason to be bearish on SOL.”
https://cointelegraph.com/news/solana-tvl-and-price-drop-50-from-ath-but-gaming-dapps-could-turn-the-tables
Russia’s ongoing aggressive actions in Ukraine have prompted payment giants to cease Russian operations.
Visa, Mastercard and PayPal have all now suspended operations in Russia directly citing Russian hostility in Ukraine.
According to a statement attributed to Visa’s global communications vice president, Andy Gerlt:
“Once complete, all transactions initiated with Visa cards issued in Russia will no longer work outside the country and any Visa cards issued by financial institutions outside of Russia will no longer work within the Russian federation”.
Visa’s chairman and CEO, Al Kelly articulated the rationale behind the move:
“This war and ongoing threat to peace and stability demand we respond in line with our values.”
Moves by traditional payment giants like Visa, Mastercard and PayPal could set an interesting precedent. Will we see pressure continue being exerted on crypto exchanges?
https://www.coindesk.com/policy/2022/03/05/visa-mastercard-join-paypal-in-suspending-russian-operations/
Despite interest in both NFTs and the metaverse decreasing since the start of 2022, Brian Trunzo, metaverse lead at Polygon Studios is still very excited about NFT and metaverse prospects in the future.
In an interview at ETHDenver, Trunzo had the following to say:
“I think anything that can become an NFT will become and NFT”.
Trunzo is particularly excited about one particular aspect of metaverse and NFT adoption: The fashion industry.
“The fashion world is $2 trillion economy. And many thinkers, myself included, believe digital fashion will dwarf that someday.”
Indeed, this paradigm shift within the fashion world already seems to be taking shape, typified by Nike’s acquisition of virtual wearable producer, RTFKT, and Dolce and Gabbana’s plans to incorporate NFT wearables into its fashion shows.
Let’s not forget Gucci NFTs back in 2021 and their growing interest in metaverse real estate…
NFT and metaverse fashion is just one avenue by which metaverse adoption is set to revolutionise everyday life but it is one that seems especially primed for success in the near future.
https://decrypt.co/94413/polygon-metaverse-lead-anything-can-become-nft-will-become-nft
The Senate of Virginia in the US has unanimously approved a bill that will allow traditional banks to offer digital asset custody services!
According to an amendment to House Bill No. 263, introduced by Delegate Christopher T. Head:
