According to data compiled from CryptoSlam, the monthly trading volume of non-fungible tokens (NFT) plunged to 16-month lows even as market participants emphasized that the digital collectibles are not dead.
The United States Financial Accounting Standards Board (FASB)’s decision to allow companies to use “fair value” to account for their crypto holdings could be seen as another step toward the wider institutional adoption of cryptocurrency.
The G20 Cryptocurrency regulation is around the corner. The idea of regulating cryptocurrencies goes against the very nature of digital assets. The blockchain technology is rooted in its integral characteristic of being decentralized. However, growing incidents of misdoings, scams and hacks are making it hard for crypto to not be regulated. Meanwhile, several countries and international groups have already been working on implementing strict rules in the crypto industry.
Mastercard has outlined five key crypto areas it is working on in order to “turn cryptocurrencies into an everyday way to pay.” A Mastercard executive opined: “Someday soon, the ability to own and spend a digital currency could be as seamless as making a contactless card payment.”
Binance just announced that it has completed its 21st quarterly BNB burn. For those that did not know, the crypto company has a quarterly auto-burn that takes a significant amount of BNB out of supply. While this makes BNB a deflationary cryptocurrency, is it the right fit for long-term trades?