🦎🚀 What is XPayments? 👀

Monday, January 22, 2024

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Have a wonderful weekend, Geckos!

In today's news:

The end of Terra? 🌍
Who let the dogs out? 🐶

Read on!

24h Hot Searches Worldwide 🔥

Manta Network (+3.6%)
Pyth Network (-7.2%)
Ondo (-5.1%)
Celestia (-7.3%)
PondCoin (+30.0%)
Myro (+13.8%)
Sei (-10.7%)

Buckle up and get ready! CoinGecko's Virtual Meetup is back again! For Meetup #30 we'll be diving into our 2023 Annual Crypto Industry Report and join our speakers as they share their thoughts on the State of Crypto Markets in 2024!

2023 Annual Crypto Industry Report

When considering the entire year of 2023, the crypto market witnessed substantial growth, more than doubling its total market cap from $832 billion at the beginning of the year. This remarkable expansion was primarily driven by Bitcoin's impressive resurgence, experiencing a 2.6x increase. After the challenges and stagnation experienced in 2022, 2023 proved to be a robust year of recovery for the crypto industry.

Join us and our Head of Research, Zhong Yang Chan, as he presents key highlights of our 2023 Annual Crypto Industry Report – from an overview of crypto markets, to analyzing Bitcoin and Ethereum, deep diving into DeFi and NFT ecosystems, and finally CEX and DEX performances.

State of Crypto Markets in 2024

After a review of the past year, we'll shift gears to discuss the State of Crypto Markets in 2024. Join us as we take a look back at the top highlights of 2023 and the primary trends in 2024 to watch out for.

Date: Wednesday, 24 January 2024

Time: 07:30 AM EST (UTC -5) [Check your local time]

Tune in for our Virtual Meetup #30, featuring an exciting panel of speakers:

Zhong Yang Chan, Head of Research, CoinGecko (Moderator)
Matthew Graham (Managing Partner, Ryze Labs)
Teng Yan (Head of NFT Research, Delphi Digital)
Wangarian (Co-Founder, Tangent)

SAVE YOUR SEAT TODAY!

2023 Annual Crypto Industry Report

Dive into our comprehensive 2023 Crypto Industry Report which covers everything from the crypto market landscape.

The end of Terra? 🌍

An unfortunate ending to a tragic tale.

Just yesterday, Terraform Labs filed for Chapter 11 bankruptcy protection at the United States Bankruptcy Court for the District of Delaware.

According to the court filing, the company currently holds anywhere from $100M to $500M in estimated assets and liabilities, respectively.

Additionally, the filings also show that Terraform Labs has approximately 100 to 199 creditors.

As to why Terraform Labs had to go down this particular route, Chris Amani, the company's CEO since July of last year, mentioned that 'this action is necessary to allow us to continue working toward our collective goals while resolving the legal challenges that remain outstanding,'

While the news may seem rather sad, it would seem that the crypto market is not really surprised thus far.

4 hours after the news was made public on X and across various crypto news sites, Terra has fallen just 4.8% to $0.62, while Terra Luna Classic has fallen by 5.1% to $0.0001.

Editor's Take:
It's been more than 1.5 years since the collapse of Terra Classic, and with Do Kwon set to stand trial in the US, the saga of Terraform Labs may have reached its sad conclusion. However, there has been no official news yet regarding the ultimate fate of the Terra project, so we may just have to wait and see.

Many brands from various industries have continued venturing into Web3 despite the bear market - learn about the top ones in this video!

Watch now!

Who let the dogs out? 🐶

It's no secret that Elon Musk really loves Dogecoin!

Following the creation of the XPayments account on X, which now has over 100,000 followers, Dogecoin rose to a weekly high of $0.089 before retreating back to $0.083.

Earlier in the month, X had stated that it plans to launch a peer-to-peer payments feature on its platform, with Musk adding that it could feature cryptocurrencies.

As such, it's not farfetched to think that Dogecoin, along with other established cryptos, will be supported in such a feature, given Musk's particular fondness for the canine-themed coin.

Should Dogecoin actually become a legitimate payment option on X, users would be able to pay DOGE for ads, subscriptions, and other features, bringing additional utility and further adoption for the cryptocurrency.

Not to be forgotten, the Floki memecoin, named after Elon Musk's own pet dog, has also been making moves since the creation of the XPayments account.

FLOKI rose by 18.4% from $0.000029 to $0.000034 in the late hours of January 21st but has since retreated back to $0.00003.

Join us for a deep dive into Celestia and find out how it takes a modular approach to addressing scalability and decentralization challenges in blockchain systems.

Learn more

In Other News...

China forms a metaverse working group with Huawei, Tencent, Ant Group and others. This aims to push for standardization for the metaverse sector as the world's second-largest economy looks to drive the growth of the nascent industry.
Ronin's blockchain wallet just got a massive upgrade. It now supports Ethereum, Polygon, and BNB Chain.
Saga expands airdrop rewards to Solana, Polygon, and Avalanche games. The "Three Kingdoms" play-to-airdrop campaign offers the ability for players of games on those three networks to potentially claim a share of the upcoming SAGA token launch, which is planned for this spring.
Introducing Chinder, the crypto Tinder. This new application allows users to swipe between cryptocurrency charts for Solana-based tokens. Swipe right to buy, and swipe left to keep browsing.
God's token? Or Not. A Colorado couple had their assets frozen by a state judge after making millions on a cryptocurrency they say they created at God's command.
Is betting on your own story ethical? The journalist who exposed Claudine Gay's plagiarism bet was set to win $1400 in crypto via a Polymarket contract if she resigned by year's end.

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