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Instagram Plans NFT Minting, Trading Tools – Top Crypto Updates

Meta’s Instagram plans NFT minting, trading tools

Instagram is developing an NFT minting and sale feature through its app. The upcoming “end-to-end toolkit” for NFTs will allow users to create and launch their own NFTs for sale through the social media platform. Instagram will use the Polygon blockchain for NFT minting. It will also pull NFT metadata from OpenSea so that collection names and descriptions can be viewed on the app.

[Non-fungible tokens (NFTs) are unique blockchain tokens that signify ownership over an asset, typically a piece of digital art.]

Crypto prices today: Bitcoin falls 0.2%, ETH down 0.7%

Bitcoin is currently trading at $20,335.57, a decline of 0.27% over the previous day. Ethereum fell 0.72% over the last 24 hours to $1,550.90. Solana is up 0.8% to $31.86, while Cardano is trading higher by 1.26% at $0.397. Avalanche (AVAX) rose 3.62% to $18.65. The global crypto market cap stands at $1.01 trillion, a 0.06% decline over the previous day.

Arweave’s native token surges 60% on Meta integration

AR, the native token of blockchain-based data storage solution Arweave, surged 60% as Meta said it will utilize the Web3 platform to archive its creators’ digital collectibles. The rally has boosted the token’s market cap to $838 million, making it the third-largest Web3 token worldwide. Instagram users can now issue digital collectibles for their posts stored on Arweave.

Robinhood’s crypto revenue declined 12% to $51M in Q3

Online trading brokerage firm Robinhood reported $51 million in crypto revenue in Q3 CY22, down 12% from $58 million in the second quarter. The company’s monthly active users (MAUs) fell to 12.1 million from 14 million in Q2 and 15.9 million in Q1 as “customers continued to navigate the volatile market environment.”

OpenSea rolls out two NFT theft protection features

OpenSea, the world’s leading NFT marketplace by trading volume, has launched new theft detection and prevention features. One feature detects and disables scam links shared on the platform, while the other identifies stolen NFTs and blocks their resale. The platform’s new theft prevention feature will proactively scan URLs to prevent malicious links from appearing on fraudulent collection listings.

India’s ‘Digital Rupee’ will be launched in November

The Reserve Bank of India (RBI) will launch a digital version of the rupee for retail purposes this month. RBI is set to launch a central bank digital currency (CBDC) after announcing its digital rupee project in February. The CBDC will be made available in select locations initially, with plans to roll it out nationwide. 

Read more here.

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Metamask Unveils Digital Asset Portfolio dApp – Top Crypto Updates

Metamask unveils all-in-one digital asset portfolio dApp

Metamask has launched a new beta decentralized application (dApp) that serves as a one-stop shop for managing crypto and non-fungible token (NFT) portfolios on different platforms. Users can access this dApp by clicking the “Portfolio” link on their browser extension’s home screen to connect multiple accounts. The dApp is available on the browser extension and for mobile users as well.

Crypto prices today: Bitcoin up 1%, ETH rises 1.3%

Bitcoin is currently trading at $19,530.66, an increase of 0.92% over the previous day. Ethereum is up 1.37% over the last 24 hours to $1,339.76. Solana rose 2.45% to $34.11, while Cardano is trading higher by 1.32% at $0.436. Avalanche (AVAX) rose 1.2% to $17.38. The global crypto market cap stands at $944.04 billion, a 0.72% increase over the previous day.

ETHW surges as Binance launches Ethereum Proof-of-Work mining pool

Crypto exchange Binance announced an Ethereum Proof-of-Work (ETHW) mining service for its users. Those who take part in the pool will not be charged a fell until October 29. Following this news, ETHW (the new asset born out of Ethereum’s merge earlier this month) surged 12% over 24 hours.

Mining pools are formed when groups of crypto miners want to share resources to allow other miners to work with them and collectively have a better chance of processing a transaction.

Warner Music Group partners with OpenSea

Warner Music Group will partner with NFT marketplace OpenSea to accelerate its artists’ expansion into Web3. The collaboration will grant Warner Music artists early access to new OpenSea products, improved discoverability on the NFT marketplace, and featured portions of the OpenSea site for upcoming NFT projects.

Meta opens NFT sharing on Instagram, FB to all US users

Meta has launched NFT collectibles support for all Facebook and Instagram users in the United States. Users can now connect wallets from Coinbase, Dapper Labs, MetaMask, Rainbow, and Trust with Instagram to post digital collectibles minted on Ethereum, Polygon, and Flow. Insta users can also crosspost their NFTs to their Facebook accounts.

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Coinbase to Expand Presence in Europe – Top Crypto Updates

Coinbase plans to expand presence in Europe

Crypto exchange Coinbase Global Inc is looking to expand in some European markets, even as the digital asset market experiences a downturn. The company is in the process of expanding in France, Italy, Spain, and the Netherlands, It aims to launch its retail, institutional, and developer products in these markets.

Crypto prices today: Bitcoin at 19,100, ETH falls 1%

Bitcoin is currently trading at $19,105.10. Ethereum is down 1.07% over the last 24 hours to $1,050. Solana fell 0.72% to $32.72, while Cardano is trading lower by 0.26% at $0.448. Avalanche (AVAX) is up 3.78% to $16.68. The global crypto market cap stands at $863.33 billion, a 0.32% decline over the previous day.

Meta to shut down crypto wallet Novi by September

Meta said it will shut down its digital wallet for crypto, Novi, in September. The wallet helps people send and receive money internationally with no fees. The Novi app and its integration with WhatsApp will no longer be available, and users won’t be able to sign in to their accounts after the expiry date.

Vauld suspends withdrawals, trading due to ‘financial challenges’

Crypto exchange Vauld has suspended all withdrawals, trading, and deposits on its platforms due to rising “financial challenges”. The company has witnessed withdrawals above $197.7 million since June 12, 2022, when the collapse of TerraUSD (UST) triggered a crash in the crypto market. Vauld intends to apply for a moratorium in the Singapore courts to get a “breathing space to carry out a proposed restructuring exercise.”

TDS rule brings down volumes on crypto platforms

Spot trading volumes on crypto exchanges CoinDCX, WazirX, and Zebpay declined by ~70% on average yesterday. This is primarily due to the imposition of a 1% tax deducted at source (TDS) on the transfer of virtual digital assets (crypto, NFTs) worth more than Rs 10,000, effective from July 1. It is likely to push day traders to move out of Indian exchanges.

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Meta Begins Testing ETH, Polygon NFTs on Profiles – Top Crypto Updates

Meta begins testing ETH, Polygon NFTs on profiles

Meta has begun rolling out non-fungible tokens (NFTs) for some U.S. creators on its flagship social network. It is starting with Ethereum and Polygon NFTs but will soon add support for NFTs on Solana and Flow. Users will have a “digital collectibles” tab on their Facebook profiles where they can showcase their NFTs

Crypto prices today: Bitcoin up 0.4%, ETH rises 0.3%

Bitcoin is currently trading at $19,509.07, an increase of 0.44% over the previous day. Ethereum is up 0.3% over the last 24 hours to $1,062.72. Solana rose 3.25% to $32.92, while Cardano is trading higher by 1.03% at $0.454. Avalanche (AVAX) is down 2.8% to $16.13. The global crypto market cap stands at $870.63 billion, a 0.2% increase over the previous day.

Napster to launch its own token on Algorand

Music streaming app Napster has announced its plans to launch the $NAPSTER token on the Algorand blockchain protocol. The company aims to build out its existing music streaming ecosystem on the layer-1 blockchain. $NAPSTER will be used as a payment method for purchasing music subscriptions and exclusive artist content rights.

VanEck files new application for Spot Bitcoin ETF

Investment giant VanEck has filed a new application for a spot bitcoin exchange-traded fund (ETF) with the Securities and Exchange Commission (SEC). A spot bitcoin ETF is comprised of bitcoin or assets related to bitcoin’s price. The move comes just a day after the SEC rejected the spot bitcoin ETF applications of Grayscale Investments and Bitwise. 

Cryptos are a clear danger: RBI Governor

Reserve Bank Governor Shaktikanta Das described cryptocurrencies as a “clear danger”. He said that anything that derives value based on make-believe, without any underlying, is just speculation under a sophisticated name. The government is in the process of finalising a consultation paper on crypto after gathering inputs from various stakeholders and institutions.

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Coinbase Makes India Push With UPI Payments – Top Crypto News

Crypto giant Coinbase makes India push with UPI payments

Coinbase is adding support for the popular UPI payment instrument in India. This move will make the crypto exchange functional in the world’s second-largest internet market for the first time. Coinbase made the official launch at its maiden event in India on Thursday, saying that it is working to broaden its product offerings in the country. Users in India will be able to add and withdraw money from their accounts by using the UPI network.

Crypto prices today: Bitcoin, ETH down 4.3%

Bitcoin is currently trading at $43,504, a 4.36% decline over the previous day. Ethereum is down 4.3% over the last 24 hours to $3,222.6. Solana crashed 9.4% to $115.7, while Cardano is trading lower by 6.4% at $1.08. Terra (LUNA) fell 7.2% to $109.11. The global crypto market cap stands at $2 trillion, a 4.6% decline over the previous day.

The crypto market fell after Federal Reserve governor Lael Brainard reiterated the central bank’s commitment to quickly tightening monetary policy.

Meta to create tokens for Facebook’s Metaverse: Report

As per a Financial Times report, Meta (parent company of Facebook) is reportedly still interested in creating tokens for use within the metaverse. The company is exploring a centralised in-app token similar to ROBUX for the game Roblox. Some Meta staffers are reportedly referring to the tokens as “Zuck Bucks.” 

Solana NFTs can now be traded on OpenSea

Non-fungible tokens (NFTs) minted on the Solana blockchain network can now be traded on OpenSea, the largest NFT marketplace in terms of volume. OpenSea is primarily based around Ethereum and currently dominates the NFT trading space by a large margin. Solana saw $173 million in NFT trade volume during March, according to data tracker CryptoSlam. 

Binance.US valued at $4.5 billion after inaugural funding

Binance.US, the American subsidiary of Binance, has closed its first funding round for a pre-money valuation of $4.5 billion. Led by RRE Ventures, Foundation Capital, VanEck, and others, the $200 million seed round makes the firm the latest of several that have reached unicorn status. Binance.US said it offers the most competitively low trading fees (0.1%) of crypto exchanges available to U.S. investors.

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Meta Files Trademarks for Crypto Tokens, Wallets – Top Crypto News

Meta files trademarks for crypto tokens, wallets, exchanges

Meta (formerly Facebook) has filed eight trademark applications for its logo to cover a wide range of digital purposes, including crypto tokens, wallets, and exchanges. Among the 8 trademark filings, six exclusively refer to crypto and blockchain-based technologies. Meta recently announced it’s looking to integrate NFTs on Instagram.

Crypto prices today: Bitcoin up 2.5%, ETH rises 3.4%

Bitcoin is currently trading at $43,122.5, a 2.5% increase over the previous day. Ethereum is up 3.4% over the last 24 hours to $3,054.32. Solana surged 6.3% to $97.11, while Cardano is trading higher by 14% at $1.10. Dogecoin (DOGE) jumped 11.6% to $0.136. The global crypto market cap stands at $1.96 trillion, a 2.77% increase over the previous day.

Fed’s Powell again raises alarms over ‘financial stability’ of cryptos

Federal Reserve Chairman Jerome Powell recently noted that new forms of digital money such as cryptocurrencies and stablecoins presented risks to the US financial system. “Our existing regulatory frameworks were not built with a digital world in mind,” he was quoted as saying. “There are potential financial-stability concerns for some crypto products,” Powell added.

Studio behind PUBG series to make Solana NFT games

South Korean game publisher Krafton, Inc. has revealed a long-term agreement with Solana Labs. Both entities plan to work together to develop and market blockchain and NFT-driven games that run on the Solana network. They also aim to explore co-investment opportunities. Krafton is the company behind PUBG: Battlegrounds, a popular battle royale shooter franchise that spans multiple platforms.

Coinbase adds Cardano staking rewards

Crypto exchange Coinbase now offers staking for ADA, the native cryptocurrency of the Cardano blockchain. In explaining the decision, senior product manager Rupmalini Sahu pointed to ADA’s top-10 market capitalization and its sustainable, flexible blockchain design. The design uses smart contracts to enable decentralized finance (DeFi), NFTs, and other activities on the network.