Crypto Market Overview – April 23rd, 2021
The working week has drawn to close, and so did the hopes of market participants for a revival in the cryptocurrency arena. The gloom is setting in again and some are already praying that it is temporary. The following are some of the main headlines that graced Friday, April 23rd, 2021.
Singapore and CBDC
The financial regulator of Singapore, the MAS, has expressed interest in the creation of a single platform for settlements with Central Bank Digital Currencies. The Dunbar Project of the MAS is being developed in collaboration with the central banking community and the Bank for International Settlements, which is also participating in the development of such a platform to expedite the distribution of its assets. Sopnendu Mohanti, head of fintech at MAS, has stated that the platform will be launched on a commercial scale in the near future. Singapore has always paid attention not only to CBDCs, but the entire crypto market as a whole, imposing strict regulation on such assets. However, it is becoming clear that the latest actions of the island nation’s regulator are aimed at modernizing existing outlooks on the world of digital assets, which are rapidly being integrated into the global economy.
NFT art again
Renowned VFX artist Danil Krivoruchko has put up a thousand virtual 3D characters from the Xoids collection for sale at OpenSea. The artist intends to sell all of the artworks and direct some of the funds to charity. Danil Krivoruchko is the founder of the infamous Brooklyn Myshli VFX studio. He is a motion designer by trade and has recently become the author of a unique collection of 3D characters. The creatures, called Xoids, created in NFT token format, are vintage anthropomorphic, cuddly beings of various shapes and colors that distantly resemble Disney and Pixar animated picture characters. The creatures were originally created back in 2013, when Danil was moving to New York with his wife Victoria. The artist believes that the fuzzy creatures can not only prove to be a profitable investment for their future owners, but can also help nature. Danil and Victoria plan to donate 20% of the proceeds from the sales of the Xoids to the Orangutan Outreach Charity Fund, which is working on the rehabilitation of orangutans who had been kept in captivity as pets. The Foundation helps them to return to their normal lives in the wild.
BSC outstrips Ethereum
The total daily volume of transactions on the Binance Smart Chain has reached 600% of the volumes of Ethereum, standing at an estimated 9 million transactions. The reasons for the spike in activity are being attributed to the low commissions as over one million users resort to BSC on a daily basis.
The Turkish authorities have arrested over 62 individuals within the framework of the sudden closure of the popular THODEX exchange, which had suddenly ceased operations a day earlier. Arrest warrants have been issued for a total of 78 individuals, 16 of whom are still at large. The main suspect of the alleged fraud, THODEX founder and CEO Farouk Fatih Ozer, has managed to evade arrest by fleeing to Tirana, the capital of Albania, on Tuesday. As an added measure, the Turkish Financial Crime Investigation Commission (MASAK) has already blocked the accounts of the exchange and investigation is pending.