🦎🚀 Will Crypto Banks be the Last Dominos to Fall? 🏦

Friday, March 10, 2023

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Crypto Banks In Troubled Waters

After the closure of crypto bank Silvergate yesterday, fears have been heightened over the financial viability of the tech startup and VC-focussed Silicon Valley Bank (SVB) as it had announced a significant sale of assets and stocks to raise additional capital.

SVB is one of the top 20 largest banks in the United States and provides banking services to the likes of crypto-friendly venture firms Sequoia and Andreessen Horowitz (a16z).

In other news, Starbucks releases its first premium NFTs, the Bitcoin Ordinals saga continues with 'BRC-20' tokens, and Meta to work on a decentralized social media platform?

Read on!

Which is the Most Popular NFT Marketplace?

Blur and OpenSea's competition for market leadership has crowded out the other top marketplaces. Former market leader OpenSea's market share fell to 36.4% last month, despite trading volume increasing to $0.69 billion, from $0.41 billion the month before. On the contrary, newcomer Blur has become the most popular NFT marketplace, with its market share at 56.8% after trading volumes surged to $1.07 billion in February 2023.

More on the Top 6 NFT marketplaces market share breakdown

24h Hot Searches Worldwide

Huobi (-21.0%)
KuCoin (-8.0%)
Blur (-13.6%)
Polygon (-8.0%)
Unidef (-2.6%)
Hedera (-6.5%)
GALA (-8.4%)

Happy International Women's Day! Let's hear it from the women of CoinGecko, and their stories on what it's like working in crypto!

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StarBUCKS

Coffee giant Starbucks is taking additional steps into Web3 with its Polygon-based Starbucks Odyssey rewards program, which is currently open in beta to limited users. And after dropping a few free reward NFTs to early adopters, it's set to launch its very first paid collectible today.

The Starbucks Odyssey program will launch its limited edition Siren Collection, which will comprise up to 2,000 NFTs for $100 each.

Decrypt

Bitcoin Maximalists Unimpressed

To the dismay of some bitcoin maximalists, buzz around Ordinals has revived as someone has figured out how to mint a form of 'fungible token' called 'BRC-20's using the Ordinals protocol (which enables NFTs on Bitcoin).

BRC-20s are an experimental way to use the Ordinals protocol to let people mint and transfer whatever tokens they want via the Bitcoin blockchain.

Decrypt

Meta to Launch a Decentralized Twitter?

As an apparent attempt to capitalize on the trend of Twitter users seeking alternative platforms, Meta is reportedly building a decentralized, text-based social network that supports ActivityPub, the decentralized social networking protocol that powers Twitter-rival Mastodon.

The upcoming app is codenamed P92 and will allow users to log in with their existing Instagram credentials, according to a report by TechCrunch.

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Today, we look at Bitcoin Ordinals and how they're different from typical NFTs. Also, find out how to trade Ordinals and discover some of the biggest Ordinal collections right now.