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2023-08-24 16:13:02 Yuga Labs CEO Daniel Alegre buys a Bored Ape NFT for $90,000

Daniel Alegre, CEO of Yuga Labs — the company that created the Bored Ape Yacht Club (BYAC) — personally bought a piece from his firm's own NFT collection. BAYC is the largest blockchain collectible by market capitalization, nearing $800 million.

For a sum of 50 ether (ETH), or approximately $90,000, Alegre secured ownership of his Bored Ape — number 3575 — which is distinguished by its unique portrayal of a chimpanzee wearing sunglasses and a Sea Captain's hat. The floor price to buy a Bored Ape NFT is currently 43 ETH ($77,500), according to CoinGecko.

The art for each token is a unique combination of different traits, and holders are given creative and commercial rights to their ape images.

Alegre made the purchase yesterday on Blur's NFT trading platform. He previously funded his Ethereum address with ether from a Coinbase account, as on-chain data from Etherscan shows.

He later publicized his new NFT acquisition on Twitter, affectionately introducing it to his children with the caption, "To my kids: meet a new member of the family. Proud to Ape into BAYC #3575."

Alegre has adopted the avatar from his recently acquired NFT as his Twitter profile picture, a move that seems to reflect his active engagement with the NFT community and his commitment to the Bored Ape Yacht Club (BAYC) culture.

In December, Yuga Labs hired Alegre — the former president of gaming firm Activision Blizzard — to the role of CEO. He now oversees Yuga's portfolio of intellectual property, encompassing the Bored Ape Yacht Club, CryptoPunks NFT, and the Otherside metaverse platform. His tenure as CEO officially began on April 1.

Last year, Yuga Labs closed a $450 million funding round from Andreessen Horowitz at a $4 billion valuation. Open / Comment

2023-08-23 15:18:06 PEPE did its best, almost reached my target of H&S pattern! Open / Comment

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About us: eternitylaw.com Open / Comment

2023-08-22 14:50:14 Nomura Expands into Dubai's Crypto Market with Full Regulatory Approval. Open / Comment

2023-08-21 17:00:00 Binance Sees Crypto Potential In India, But There's A Catch

The Indian Government has taken a strict stance on cryptocurrency adoption and trading in the country. However, the administration is yet to announce a regulatory framework over digital assets. Meanwhile, Binance, World’s biggest cryptocurrency exchange, seeks a potential future of crypto in India.

India holds huge potential
As per reports, Leon Foong, Head of APAC at Binance, looks at many possibilities of evolving cryptocurrency industry in India. He mentioned that nation’s developing Blockchain startups have gained the recognition of Binance and other tech experts. Foong highlighted that India possesses some basic advantages over other countries. The country can be a very large crypto market while it has many well trained engineers.

Binance APAC head added that India’s tech venture capital investment grew over $44 Billion in 2021. The huge4 amount of crypto and Web 3 related projects can outflow from the country if correct blockchain entrepreneurs get matched with the required capital and talent. Open / Comment

2023-08-20 13:37:06 EC asked Coinbase to Cease Trading for All Cryptos except Bitcoin Before Lawsuit: FT Report. Open / Comment

2023-08-19 14:27:05 REVIEW BITCOIN FRACTAL

I've come across one very interesting BTC fractal! It turns out that every year late August is bullish/neutral, but every start of September is bearish!

Even though the continuation may be anything, first one or two weeks of September are bad for crypto market. Keep it in mind! Open / Comment

2023-08-18 14:19:00 XRP Price Crash Chaos Causes 45% Discount on Major Exchange

In a dramatic turn of events, the crypto market witnessed a whirlwind of liquidations, resulting in over $1 billion in losses within a mere 24 hours. The fallout, affecting nearly 200,000 traders, sent shockwaves through the trading community. As market volatility soared, traders were left grappling with stop orders and margin calls, while a silver lining emerged for opportunistic investors seeking to exploit the downturn.

A surprising arbitrage opportunity materialized on renowned exchange Bybit, unveiling an astonishing 45% discount on the price of XRP. Distinct anomalies were observed in the derivative contracts XRPUSD and XRPUSDT, where a significant depeg occurred. Notably, the dollar-collateralized futures contract displayed a jaw-dropping value of $0.32 for XRP, while its USDT counterpart settled at $0.46. This price divergence was transient, lasting a mere 20 minutes.

For anyone curious, the arb today was between the XRPUSD and XRPUSDT contracts on Bybit. A 45% discount occurred that closed after 10-20 minutes.

Most likely, algo market makers ran out of spot XRP needed for the coin margined contract amidst the large liquidations that occurred

A prominent figure within the crypto sphere, known by the nickname "DeFi^2," offered insights into this aberration, attributing the phenomenon to the potential depletion of spot XRP among algorithmic market makers. These market forces, strained by the cascade of widespread liquidations, may have inadvertently triggered the pricing dislocation. Open / Comment

2023-08-17 13:07:01 X2Y2 Introduces NFT Lending Protocol Named X2Y2 Fi

The famous non-fungible token (NFT) marketplace called X2Y2 has recently disclosed an exclusive update. The company has mentioned that it is launching its version 3. In addition to the respective update, it has also pointed out that a new protocol will be established by it. The function of the latest protocol will be the borrowing, refinancing, as well as lending of non-fungible tokens (NFTs).

X2Y2 Announces Launching a Protocol Specified for NFT Lending
While sharing these updates on its official Twitter channel, the platform added that it has been operating on building NFT loans for up to seven months. In this respect, the firm has facilitated more than 11,000 NFT-based loans. The launch of the latest NFT-lending protocol is a further step in the same direction. The official address of the NFT-lending platform is fi.x2y2.iо and it has now been formally launched by the NFT marketplace.

The company provided more details about the latest project by saying that X2Y2 Fi plays the role of a proficient module that operates within the ecosystem of X2Y2. As per the platform, the respective protocol has particularly been established to provide professional financial services in the case of NFTs. Moreover, the firm is of the view that the exclusive project will operate under its subdomain fi.x2y2.iо.

In addition to this, the firm specified that the entirety of the NFT loan operations, taking into account borrowing, lending as well as refinancing will be carried out under the subdomain X2Y2. In the words of the company, this project will offer a unique way for consumers to generate value with the use of their NFTs. Open / Comment

2023-08-16 12:33:00 That's exactly why the downward arrow was bold!

First target hit immediately, BTC looks like total shit, so second target is coming Open / Comment