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Gaming crypto and NFTs suffer losses as investors lose faith in central financial institutions
By Shashank Bhardwaj

Image: Shutterstock

Following the recent market sell-off, the Bitcoin price appears to have slipped off once again. After the rising wedge formation was broken on Wednesday, August 17, the total crypto market capitalisation quickly fell to $1 trillion. This means that the bulls’ dream of recouping the $1.2 trillion in support is now even further away. Macroeconomic conditions appear to be pressuring risk assets such as crypto assets and equities.

BTC is still down 10 per cent in the last seven days. Meanwhile, ETH has fallen by 12 percent. This has resulted in a significant drop in overall market capitalisation. Furthermore, gaming and NFT-related crypto assets have also suffered significant losses in the last week. Flow (FLOW), Stepn (GMT), Axie Infinity (AXS), Decentraland (MANA), and Gala (GALA) are among them.

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132-year-old Swiss bank will now offer crypto services
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Sebi to make celebrity endorsement of crypto products tougher
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Coinbase introduces Coinbase Pay to web developers
Defi tracker Ape Board acquired by Ethereum analytics firm Nansen
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Brazil's stock exchange to launch bitcoin futures trading
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UK Treasury pushes forward a Stablecoin regulation
Chinese Court declares that BTC has economic worth
Brazilian bank Nubank introduces Bitcoin and Ether trading
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KuCoin Exchange reaches $10 billion valuation following funding round
Russian journalists solicit crypto donations amidst western sanctions
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Madonna joins hands with Beeple for NFT Collection
YouTube shuts down educational crypto channels
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Japanese ecommerce website allows crypto payments
China's CBDC rolled out at transport networks in two more major cities
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Bitcoin falls below $30,000, lowest since July 2021
State of Utah creates blockchain and digital innovation task force
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Elon Musk secures funding from Sequoia, Binance to back Twitter bid
Terra acquires $1.5 billion more Bitcoin
South Korea to remove ban on ICO; new crypto regulations underway
Crypto donations to be accepted in the US Federal elections
Spotify launches its metaverse in partnership with Roblox
Uzbekistan approves solar mining of crypto
Starbucks teases Web3 platform in NFT announcement
Coinbase opens NFT marketplace to all
Kazakhstan orders crypto miners to register with authorities
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Rari Capital loses $80 million in Fresh Exploit
Crypto publication Decrypt raises $10 million at $50 million valuation
Vitalik Buterin says transaction fees need to reduce to 5 cents to remain acceptable
MicroStrategy reports $170 million impairment loss on Bitcoin holdings in Q1
US senators propose new crypto bill limiting capital gains tax
BAYC Metaverse witnesses $300 million sales at launch
21Shares and ByteTree launch a gold-cum-Bitcoin ETP
NFT project DeGods DAO buys basketball team in Ice Cube's Big3 leap
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Telegram to allow users to send crypto
Goldman Sachs rolls out first bitcoin-backed loan
Ukrainian government to accept NFT donations
Bitcoin not a panacea for Africa's economic woes: IMF
Mexico Senate gets Bitcoin ATM
Edward Snowden reveals he's one of the creators of Privacy Coin Zcash
BlackRock launches blockchain industry ETF
Ethereum's incoming switch to Proof-of-Stake driving down GPU prices
Central African Republic adopts bitcoin as legal currency
Brazil approves law to regulate crypto
Binance announces crypto card for Ukrainian refugees
New York bans crypto mining using non-renewable power
Derivatives exchange Bitget launching in India
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Dogecoin surges after Twitter accepts Musk's buyout offer
Meta to open first physical store in metaverse bet
New York looking to criminalise crypto frauds
Popular NFT launch on Ethereum loses $34 million in faulty smart contract
DeFi platforms at much higher risk than centralised exchanges: report
Twitter to allow crypto payments, backed by Stripe
Bahamas may allow residents to pay taxes with crypto
Coinbase to acquire BtcTurk exchange for $3.2 billion
Paris Hilton invests in Afterparty's new NFT ticketing platform
Ridley Scott to Make a Movie on Ethereum
Russia to include cryptocurrencies in its updated tax laws
40 crypto companies sign open letter to EU regulators
BTC and ETH will break all-time highs in 2022: Celsius CEO
Blockchain games are leading the DApp industry: DappRadar report
Finance Minister Nirmala Sitharaman calls for global crypto regulations
WazirX co-founders shifting base to Dubai
Blockchain.com reportedly exploring IPO this year
CoinDCX raises over $135 million in fresh funding round, now worth $2 billion
Atari terminates blockchain joint venture with ICICB Group
Monero's July hard fork confirmed by its community
Backed by Shark Tank's Kevin O'Leary, WonderFi set to acquire Canadian exchange Coinberry
US Govt Links North Korea to Axie Infinity Hack
Jack Dorsey's first tweet NFT resells for only $280
Opera crypto browser now available on iOS
Beanstalk Stablecoin protocol loses $182 million in governance exploit
Jack Dorsey vs. Vladimir Tenev on Bitcoin transaction fees
Ripple claims 'a very big win' in SEC case
Argentinian town to invest in crypto mining to fight inflation, upgrade rail infra
Pantera Capital closing fundraise for its blockchain fund after raising $1.3 billion
Homegrown blockchain co Polygon commits to go carbon neutral this year
NBA registers four NFT trademarks
US crypto expert jailed 63 months for helping North Korea
Fortnite developer Epic Games raises $2 billion to build for the metaverse
Indian companies storm the metaverse and NFT space
Coinbase is producing a movie trilogy on Bored Ape NFTs
Multiple Indian Twitter accounts hacked, NFT content posted
German police shut down $1.3 billion illegal darknet firm
Meta tests sale of virtual goods in metaverse
Bitcoin 2022 Conference: Bitcoin Maximalists attack national currencies
Binance Gets In-Principle Approval to Operate as Crypto Broker in Abu Dhabi
EU limits Russians' crypto investments to 10k Euros
Coinbase suspends UPI payments in India three days after launch
From KFC to Tesla, Dell: Crypto-curious corporations struggle to find right recipe
In Texas, crypto miners turn to solar power
South Africa concludes technical Proof-of-Concept for its CBDC settlement system
Terra buys $200 million in AVAX for reserves
Bitcoin will remain as a standard: Chess world champion Garry Kasparov
Coinbase launches in India
Meta working on virtual money 'Zuck Bucks': report
Germany closes Russian darknet marketplace Hydra
Britain paves way to accept stablecoin
Crypto industry reels from $600 million hack
NFT of Nelson Mandela's arrest warrant auctioned for $130,000
Bank of England calls for tighter regulation of cryptocurrencies
ECB's Lagarde 'concerned' about crypto use to dodge Russia sanctions
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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. For any queries, write to support@coindcx.com.
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