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 | GLOBAL CRYPTO MARKET CAP | |  | 24H CRYPTO MARKET VOLUME | |  | BITCOIN'S DOMINANCE | | |
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Data as of: 2 Feb 2024 10 AM UTC |
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|  | TOP GAINERS | 24H% | | | | | | | | |
|  | TOP LOSERS | 24H% | | | | | | | | |
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Bitcoin has been range-bound for over a week now, stuck between $40k and $43k. But that doesn't mean there isn't action happening across crypto. There's always some new trend, news item or craze capturing attention even when prices remain steady. Today we have plenty of latest developments to share. From a hot new AR game overwhelming servers to policy moves impacting adoption and beyond, here's the TLDR on this week's top crypto news… |
• Solana Hunger Game goes viral, crashes servers from hype 🔥 • Jupiter token faces backlash despite massive airdrop 💸 • Binance launches inscriptions marketplace ₿ • India maintains tough crypto tax laws, stifling growth 🇮🇳 • Polygon lays off 19% of staff 💼 |
Now let's dive deeper into those stories! |
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First, The New Hunger Games Craze… |
A slick new augmented reality title merging The Hunger Games with Web3 rewards has exploded onto the scene this week. "Solana Hunger Games," is the ambitious play-to-earn experiment that swiftly attracted a horde of enthusiastic Hunters that overwhelmed servers after it launched for early access on Monday. Over 133,000 eager new followers and 2+ million website hits arrived within 24 hours as hype for the beta went parabolic. But the game cannot be accessed easily. So how can you play this game? And where can you find it? Read the full story! |
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Jupiter Token Is in Trouble Already |
Well, the airdrop enthusiasts are out in full force after Jupiter's long-awaited JUP token distribution finally dropped this week. Despite the project showering free coins on nearly 500K addresses, Crypto Twitter chose violence - bashing the token's airdrop strategy. But Jupiter's pseudonymous founder Meow quickly responded, dismissing complaints as misguided FUD failing to grasp the strategy. For any user with buyer's remorse, Meow says feel free to dump Jupiter's governance token in the pool before it vanishes. But what criticism is the token facing? And how long do you have to sell this token? And can you claim the unclaimed airdrop tokens? Read the full story! |
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New Inscriptions Marketplace |
The leading global crypto exchange continues expanding its presence across emerging web3 frontiers by launching a custom marketplace catering to BRC-20 loyalists this week. Binance's freshly launched platform enables users inscribe and trade inscriptions within its wallet app. The exchange bills its new inscriptions platform as a secure gateway designed to make inscriptions on Bitcoin accessible to enthusiasts and newcomers alike. Read the full story! |
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And here comes our Word of the Day… |
It's " BRC-20"! BRC-20 tokens are an experimental token standard on the Bitcoin blockchain, inspired by Ethereum's ERC-20 standard. They allow developers to create tokens on the Bitcoin blockchain that have similar functionality to ERC-20 tokens on Ethereum - namely being fungible, interchangeable assets with embedded smart contract capabilities. But how is it possible? Wasn't the Bitcoin blockchain immutable? And what's the benefit of having this token standard? Read more! |
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India Crushes Crypto Dreams 😞 |
This week, the Indian government announced its latest budget with glaring omissions around plans for its controversial crypto tax regime. Rather than an ease as many hoped, officials are playing it safe. That means exchanges keep struggling under the burden of 1% fees applied to every trade made by millions of young traders - who make up their main customer base. It also means the 30% tax continues turning away a new generation of Web3 developers and creators. Where other Asian countries are easing regulations and welcoming crypto, why is India not embracing it? Read the full story! |
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Is Polygon in Financial Trouble?? |
A leading blockchain project behind one of crypto's most utilized networks abruptly laid off 19% of employees this week. The CEO of Polygon Labs explained the layoffs were not because the company was short on money. Instead, it was a proactive decision to make the company more efficient due to slowdowns across tech companies. But did the firm share any information about its financial status to support its statement? Read the full story! |
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And that concludes our newsletter today. See you tomorrow with more developing stories! |
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