Umbria’s Crypto News Digest September 21st-27th
12 hours is a long time in crypto — Bitcoin, Ethereum and BNB’s wild ride
The 26th and 27th of September saw many of the ‘blue chip’ cryptos experience marked rises. BTC advanced 8% during the period as did Ether, but those gains were wiped out (and a bit more) in the ensuing 12 hours. And what the hell is going on with BNB? How erratic is that chart? Well at least it isn’t an ECG!
Algorand rallies on FIFA NFT news
Ahead of the World Cup, FIFA has launched FIFA+ Collect to bring football fans historic FIFA moments in the form of digital collectibles. Algorand is the official blockchain of FIFA and is powering FIFA Collect+. This has seen transactions on the network leap and $ALGO rise 28% in a week.
What’s up Arbitrum?
OpenSea announces support for Arbitrum NFTs
Leading NFT marketplace OpenSea, which is reported to have over $32 billion in trading volume, will support Ethereum Roll-Up Arbitrum. The move will give OpenSea customers access to more of the NFTs they want on the chains they prefer, Anne Fauvre-Willis, VP of special projects at OpenSea explained when talking with CoinDesk.TV.
“We want to build an ocean not an aquarium,” she said in a hint that support for more L1 and L2s might be in the pipeline. Three days later that proved to be reality (see Optimism update :-) )
Visit: https://opensea.io/
White Hat hacker comes to Arbitrum’s rescue
‘A multi-million dollar vulnerability’ has been discovered by a developer (a so-called white hacker) in the bridge connecting Ethereum and Arbitrum Nitro. Known only as riptide, the ethical hacker claimed a 400 ETH bounty for discovering the serious bug on the popular Ethereum scaling solution.
Polygon News
Polygon first blockchain for Robinhood’s Web3 wallet
Robinhood — the crypto and stock trading platform — has announced the launch of its beta self-custody, Web3 wallet and its live exclusively on Polygon.
“Like we did with the stock market, Robinhood Wallet strips away some of the complexities of Web3 and DeFi to make crypto more accessible to everyone.”
Johann Kerbrat — Robinhood’s GM & CTO
Polygon’s latest on-chain data highlights revealed by Polygon Daily
Key takeaways:
- Weekly NFT volume continued to grow the past week, climbing to $364 million (+37%). The past week recorded the highest number of NFT active wallets (184k+) since mid-August
- New entrants in the Top 30 dApps: Quest3, World war, Bomb Crypto 2 and Dfyn
- Weekly Market Cap grew for the third consecutive week, reaching $6.5 billion
Optimism news
OpenSea announces support for Optimism
Hot on the heels of its Arbitrum announcement came the news that OpenSea had welcomed Optimism to the platform.
Read the whole thread below to find out more 👇🏻
Optimism closing in on L2 rival Arbitrum on TVL?
Optimism now has $1.4 billion Total Value Locked (TVL) and a market share of just under 30% amongst major L2s (NB Polygon not included). It’s up marginally in the last seven days compared with Arbitrum’s 4% decline. However, Arbitrum still boasts a 51% market share amongst the L2s.
Check out the latest stats on L2Beat — https://l2beat.com/
Binance News
Modifications for LUNC, USTC deposits and withdrawals
Following feedback from its community, Binance will change the way it credits Terra Classic (LUNC) and UST Classic (USTC) deposits and charges withdrawals for the Terra Classic Network.
The news resulted in a price surge for the tokens.
Read more here.
Fantom what’s up?
Fantom Network gets a bridging boost
More communities are being onboarded to the Fantom Network via cross-chain bridges. This includes Umbria’s Narni bridge, which provides the fastest, most cost-effective bridging solution and enables anyone to move assets between Ethereum and Fantom very cheaply and quickly.
👉 https://bridge.umbria.network/bridge/ethereum-fantom/eth
Find out more about staking ETH in the Ethereum / Fantom liquidity pool here: https://bridge.umbria.network/staking-pool/#
Avalanche — what’s new?
Which way for AVAX?
Like BTC and ETH, Avalanche’s native token AVAX had seen a nice rise (7%) at the start of the week and also like its counterparts saw a complete reversal in fortunes, losing 8.5% in the space of a few hours. Like so many cryptos, it’s a loooong way off its Summer 2022 peak.
Crypto analyst Altcoin Sherpa sees more downside for the Layer 1.
The overall market structure is still bearish, if this is the bottom then it wouldn’t be surprising to see at least $13. The formation will look like a double bottom. It’s still on the decline for now.
Got a story that you think should be included in the next digest? Email fran@umbria.network
Until next week!
The Umbria Team 🚀
