Cryptocurrency news

Tracking cryptocurrency news from around the world

The Sandbox (game based on the metaverse) has crossed 2 million registered users.

The crypto asset market is currently undergoing a correction after its largest single-day gain on the last day of February. The global crypto market capitalization has decreased by 3.3% in the last 24 hours and stands at $1.84 trillion. Bitcoin was rejected at $45,400, which historically acted as a crucial resistance level triggering this market correction. Additionally, the escalation of the Russian-Ukrainian conflict, which included the seizure of a nuclear power plant, forced investors to participate in moderate panic selling. In this article, we are going to take a look at interesting crypto stories that have taken place around the world.

The Swiss city is pro crypto

The Swiss city of Lugano has partnered with the provider of Tether (USDT), the world’s largest stablecoin by market capitalization, to start accepting cryptocurrencies for tax payments. The partnership aims to illustrate real-world blockchain use cases by experimenting with larger-scale blockchain solutions. Tether plans to implement the Lightning Network, a second layer solution for Bitcoin, to address the city’s infrastructure scalability challenges. As part of this partnership, Tether will also create a multimillion-dollar fund to help fund blockchain-based startups and blockchain services in the region.

Adaswap gets Star backup

Despite only having six decentralized protocols (DeFi) on-chain, Cardano has amassed $134 million in total value locked (TVL). Decentralized exchanges (DEX) have become a preferable protocol for developers. Currently, four of the six protocols on Cardano are decentralized exchanges. SundaeSwap leads the group with $120 million in TVL. Given the rise of DEX, Adaswap, which was in development mode, raised $2.6 million in a funding round led by various investors, including movie star Gal Gadot and issuer of Cardano stablecoin Djed, Coti.

According to its roadmap, Adaswap will work on releasing the ASW token for exchanges, introduce the staking protocol and launch the ADANFT market. The DEX platform also intends to introduce the AMM (Automated Market Maker) interface for the AdaSwap DEX, Stake & Forget protocols. Additionally, the Adaswap team plans to bridge Cardano with Ethereum, BSC, and Casper tokens by March 2023.

Sandbox reaches a milestone

Sandbox metaverse game owned by investment giant NFT Animoca Brands hit a major milestone with 2 million registered users during its Game to Win Season 2 alpha launch. The NFT-backed crypto game and its native SAND token that has been in development for some time kicked off Season 2 after its long-awaited Season 1 alpha launch in late November.

The game allows users to freely explore 35 different virtual experiences, including a look at the “Snoopverse” in partnership with popular rapper and NFT supporter Snoop Dogg. There are 200 quests players can complete to earn a chance at an NFT Alpha Pass, which will reward owners with up to 1,000 SAND worth around $3,000 at current prices.

Facilitate real estate purchases

The Ekta Real Estate NFT market, available in a decentralized format, provides early liquidity to real estate developers by allowing investors to own fractions of projects with their crypto-assets. Fractional NFTs will be created and linked to real estate through which small investors can also acquire ownership of large projects. This NFT platform will be available from the end of March, with major multinational property developers launching their first offers in April.

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Warning: This article was written by Giottos Crypto Exchange as part of a paid partnership with The News Minute. Investments in crypto-assets or cryptocurrency are subject to market risks such as volatility and have no guaranteed return. Please do your own research before investing and seek independent legal/financial advice if you are unsure about investments.