Snapshot 69

Bitcoin Reclaims US$20,000, Crypto Regains US$1 Trillion Market Cap

This week USDC announced that it aims to bring its stablecoin to five different ecosystems: Arbitrum, Near, Optimism, Polkadot, and Cosmos. Its aim is to provide more multichain support in the hopes of giving users more access to a trusted digital dollar. Now, let’s check out what else is happening in crypto for this week.

Markets Spotlight

Note: Market prices captured in US$ at the time of reading. Explore more on Crypto‌.com/Price.

News Snaps

Disney’s getting into the Metaverse. Cointelegraph reports that Disney recently uploaded a job posting for ‘experienced corporate attorneys’ with the description suggesting they would be working on emerging technologies like NFTs and the Metaverse.

FTX to buy crypto lender Voyager. FTX has won the auction to purchase all of Voyager Digital’s assets. FTX won with a bid of US$1.4 billion, reflecting the fair market value of all the crypto stored on the platform. Visit The Block for more details.

Walmart also wants to tap into the Metaverse. Walmart launched two new Metaverse experiences that users can find on the gaming platform Roblox. The company created the Walmart Land and Walmart’s Universe of Play — containing various games and toy worlds — as well as a virtual merchandise store. Check out CoinDesk for the full story.

Recent Cosmos white paper to bring new life to Cosmos Hub. CoinDesk reports that the recent Cosmos white paper details a new issuance model for the ATOM token and interchain security as a way to refocus the Cosmos blockchain. The paper also proposes major expansions of the utility of the Cosmos Hub. 

Moonbirds and Bored Apes Mastercards are coming. Mastercard will launch customisable NFT debit cards that allow verified owners of some of the most famous collections to add the artwork to their card. See Cointelegraph for more.

What’s Ahead

Popular crypto card game Splinterlands will be hosting its own Splinterfest in Las Vegas on 8 October. Connect with the founders and different players while gaining access to see new features and cards to be added to the game.

NFT Spotlight

Escape to illustrator Fionn Jordan’s intricate world centered on the bustling town of Egret Bridge — with a cast of townspeople and an accompanying narrative — as he draws from his travels throughout East Asia in his Crypto.com NFT debut, “Escape From Egret Bridge.”

“I’m building a world that gets a little bigger with every illustration I create, and many of the characters have their own stories that can be found throughout.”

Fionn Jordan, on his expanding world of hand-drawn art

Read Crypto.com’s full interview with Fionn Jordan or check out his Escape From Egret Bridge.

Product Picks

NFT User Experience Upgrades 

Our NFT platform has just been enhanced with a suite of upgrades, including a revamped profile page, reduced service fees, an enhanced NFT minting experience, and more! Visit Crypto.com NFT to check out these upgrades now. For the full details, check out the blog here. 

Minted Vault Integration in DeFi Earn

Minted Vault is now integrated into DeFi Earn. This integration will provide even more opportunities for Crypto.com DeFi Wallet users to earn token rewards. Users can stake any amount of MTD in the Minted Vault to earn token rewards.

Tax NFT Transaction Support

You can now add your NFT transactions to Crypto.com Tax! Have taxable amounts automatically calculated, with tools that are simple to use and at zero cost. NFT trades of ERC-721 and ERC-1155 are currently supported, with more to come. Try it now: tax.crypto.com.

Crypto Level Up

Pro Trading

Pro traders go beyond just buying, selling, and holding — they have a range of trading tools at their disposal. Here’s a quick overview:

Spot Trading. Traders buy and sell within a short period of time to generate regular short-term profits.

Margin Trading. To increase their trading capacity, traders use borrowed funds to trade.  

Limit Orders. Traders set a price at which they are willing to buy or sell.

Market Orders. To execute a trade immediately, traders place a market order to buy or sell at the best available price.

Learn More About the Different Ways to Trade

Crypto IRL

Styles evolve, but good taste never changes — speaking of your choice of Crypto.com Icy White Visa Card, @Pino_1973. Good pick, friend!

AMA With Arbitrum on Twitter Spaces

Don’t miss the next episode of our special AMA series on Layer-1 and Layer-2 blockchains, where we’ll host Arbitrum, a popular L-2 scaling solution. Tune in on Twitter Spaces next Thursday, 6 October at 1 pm UTC.

To learn more about L-1 and L-2 blockchains, check out our article by the Crypto.com Research Team.

Decoder

KYC stands for ‘know your customer’ and is used by financial institutions to verify individuals using their services.

KYC is commonplace amongst major centralised crypto exchanges. It typically means presenting a piece of ID when signing up. This can be a passport, driver’s licence, or other form of government identification.

This Week in Crypto History

Jack Dorsey makes claim that Bitcoin is the future of Twitter. Two years ago, Jack Dorsey, CEO of Twitter, made the claim that he believed Bitcoin could be the world’s sole currency in 2030 and that Bitcoin would be the future of Twitter. He stated, “The whole spirit of Bitcoin…is to provide a trusted system in a distrusted environment, which is the [I]nternet.” This marked another occasion where a prolific individual spoke openly about their optimism towards Bitcoin and its future.

That’s it for this week’s Snapshot. Want more? Head over to our Insta feed for bite-size crypto lessons.