As the business week starts in Asia, Bitcoin (BTC) remains below $26K, pulling many altcoins down with it. The broader crypto market is facing a downturn, making short-term bullish trades challenging. However, it might be an opportune moment for long-term investors to expand their portfolios.
What to Watch Out for Today
1. Animoca Brands Fuels Mocaverse with $20 Million: The Hong Kong-based firm has secured a hefty investment to push its web3 identity project, Mocaverse, further into the gaming and entertainment sphere. What’s the big deal? Mocaverse is set to launch Moca ID, a unique NFT collection that lets users create their on-chain identities. Tools like these will be crucial as more gamers and users dive into the metaverse. Long Animoca, long web3?
2. Vitalik Buterin’s Twitter Hack Raises Security Concerns: Ethereum’s founder had his Twitter account compromised, leading to a staggering $691,000 loss for users who clicked a deceptive link. Why should you care? This breach underscores the pressing need for enhanced security measures on social platforms, especially as crypto gains traction. If you’re into Ethereum or just online security, keep an eye on this space.
3. Solana’s Price Dips Amid FTX Liquidation Fears: The crypto’s value has taken a 6% hit due to worries that the bankrupt FTX exchange might offload a significant chunk of its Solana assets. Here’s the twist: FTX’s proposed liquidation plan has set conditions to limit weekly token sales, aiming to cushion any potential market shocks. With a court decision looming on September 13, this is one to watch. Long Solana, long crypto market stability?
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