Crypto Market Overview – September 23th, 2021
Snoop Dogg Turns Out to Be a Giant NFT Whale on Twitter
Legendary American rapper and businessman Snoop Dogg has officially admitted to his 19 million fan base on Twitter that the NFT whale @CozomoMedici, which owns more than $17 million worth of collectible tokens, is his social alter ego. The announcement came shortly after @CozomoMedici tweeted what he now intends to dox from his personal account. Prior to that, the anonymous person was in the spotlight of collectors and crypto enthusiasts for several weeks, as he willingly shared his thoughts about the industry on the social network. Medici's personal collection includes 179 NFTs. In addition to the nine CryptoPunks characters, he owns Snoop Dogg Coin, Snoop Pepe, Trump Dumb, Meebit # 2596, Dawn of Man, and the exotic Hail Satan. Snoop Dogg is an open and fierce supporter of cryptocurrencies, NFTs and everything related to it. The rapper launched his first collection of non-fungible tokens "A Journey with the Dogg" back in April this year. It was inspired by the musician's memories of his early years. The proceeds from token sales went to support the Snoop Youth Football League and aspiring artists in the crypto space.
Evergrande Crisis Potential To Damage Cryptocurrencies: CNBC Host
CNBC presenter Jim Cramer believes that large Chinese real estate developer Evergrande, which is facing debt problems and is on the verge of liquidation and complete collapse, has already become the culprit behind the 1.7% fall in the S&P 500 index and will further catalyze the fall in crypto assets. Zycrypto reports. According to Kramer, on Tuesday the price of BTC for hodlers and traders fell 5.7% to below $43,000 due to the Evergrande debt crisis. “I know the crypto-lovers never want to hear me say sell, but if you’ve got a big gain as I did, well, I’m begging you to,” — said Cramer. “Don’t let it become a loss. Sell some, stay long the rest, then let’s wait and see if China changes its attitude toward an Evergrande bailout.” The presenter believes that buying the dip, which has been the dominant strategy for the past 15 months, may not work now, given the possible global fallout from the Evergrande crisis. He believes the effect is likely to spread to the crypto industry everywhere, given the developer's relationship with Tether. The stablecoin is backed by real value and fiat, and according to Cramer, half of that support comes from "Chinese commercial paper." However, Tether officials have denied this information.
Decentralized exchange Orca on the Solana blockchain raised $18 million
DEX crypto exchange Orca on the Solana code chain announced the closure of the first round of funding, which took place with the participation of Polychain, Placeholder, Three Arrows Capital and Coinbase Ventures, and brought in $18 million to the platform's piggy bank. Cryptobriefing reports.Other investors who participated in the funding included well-known venture capitalists Coinbase Ventures, Jump Capital, Sino Global Capital, Solana Capital, Collab + Currency, DeFiance Capital, Zee Prime and other business angels.The Orca Automated Market Maker was launched in February 2021 and quickly became one of the most successful DeFi projects at Solana. Since then, the trading volume on the site has reached more than $750 million. Orca's closest competitor on Solana is Raydium, a de facto Uniswap clone and automated market maker with over $1.3 billion.