GMT, the governance token of the Solana-based play-to-earn project STEPN, tripled in value this week on speculation over a partnership with a major sports brand. The project also generated a large profit in the first quarter of 2022, which it intends to use for burning tokens and expanding its ecosystem.
In the last few years, the crypto sector has witnessed more scams and hacks related to digital assets than in the past. This is because these malicious actors are getting smarter as every day passes. In a bid to curb their activities across the market, Turkish regulators have opined that courts should start to slam them with longer sentences. Going by the information available, regulators want the smallest penalty for these activities to be a massive amount of years.
Staking cryptocurrency is the practice of depositing money into a digital wallet and maintaining it there to facilitate the validation of transactions on proof-of-stake (PoS) blockchains. Customers can then earn additional crypto by engaging in transaction validation.
According to The Block’s Data Dashboard, for March, Bitcoin miners made $1.21 billion in income. In February, mining generated $1.06 billion in revenue. The block subsidy accounted for most total income ($1.19 billion), with transaction fees accounting for the remainder ($15.26 million). The total income has decreased from October’s $1.72 billion. In March 2021, they reached a record high of $1.75 billion.
A study undertaken by two assistant professors at American University in Cairo (AUC) has suggested that an increase of 10% in the crypto market cap causes the market value of “African micro-entities” to drop by 0.76%.