After making a daily high of $48,885, Bitcoin is now trading at $48,788. Meanwhile, the second-largest cryptocurrency, Ethereum, is trading close to $3,509.
Let’s find out some interesting crypto news stories for the day in detail.
Crypto.com has announced a historic partnership with the Fnatic team. Fnatic is a global eSports performance brand that claimed more than 200 championships across 30 different games and is one of the most successful eSports brands of all time. As per the tweet, Crypto.com would engage with Fnatic’s truly global and digitally native audience.
In addition, Crypto.com is now featured on the collarbone of Fnatic team jerseys. Besides this, Crypto.com will work with Fnatic on a variety of activations with Fnatic’s eSports teams, players, and creators. Collaboratively, the team will offer financial literacy, storytelling, and crypto education opportunities for those that are new to cryptocurrencies and NFTs. Consequently, this would help fans to understand cryptocurrency and its usage. Additionally, the Fnatic team will also launch its exclusive NFTs in the near future.
2 – Avalanche TVL & Price Hits All-Time High, Becomes 11th Largest Crypto Asset by Market Capitalization
The coin of the day is the Avalanche Coin (AVAX), which has exploded over 50% in the past seven days. At the time of publication, AVAX was trading close to $74.59. Before that, it surged from $22.14 to a high of $75.04 within a month.
In addition, the total value locked (TVL) on Avalanche also climbed to an all-time high of roughly $2.93 billion. Notably, this rise in TVL is mostly due to the launch and growth of several successful DeFi protocols on Avalanche. These protocols consist of Benqi (QI), Trader Joe (JOE), and Pangolin (PNG). Additionally, this price surge boosted AVAX coin to flip Chainlink and Uniswap’s market cap and hit a historical milestone to become the eleventh largest cryptocurrency by market capitalization.
Ferrum Network has partnered with Lossless to increase the security in its ecosystem. As per the tweet, Ferrum Network would implement Lossless code to boost its Advisory Services incubated projects.
Lossless offers a DeFi hack mitigation tool for token creators through its fraud identification methods. It automatically reverses stolen tokens while detecting hackers and fake transactions. Hence, this coalition helps Ferrum Network to prevent users from any fraudulent transactions and rug pulls. In addition, this would temporarily freeze funds until suspicious cases are investigated thoroughly. In turn, this would provide utmost security to investors’ tokens, which will enhance the DeFi ecosystem.
Popular crypto platform Bybit has declared the launch of its Launchpad. As stated, $BIT will be the first new token to be featured on the Launchpad. Moreover, Bybit Launchpad is created to join innovative crypto projects with users looking to explore promising projects.
In order to participate in this Launchpad, users are required to complete the KYC L1 to ensure local regulatory compliance. Impressively, BitDAO is supported by Pantera, SushiSwap, Polygon, and more. In addition, Bybit has pledged to contribute 2.5bps of futures trading volume to BitDAO’s treasury. As of now, the BitDAO treasury balance is $563 million, which is expected to exceed $1 billion per year.
Additionally, the team has launched rewards and free giveaways for launchpad participants. More information regarding the BIT listing and airdrop can be found here.
In the last bit of crypto news for the day, we have DeRace launching its very first IGO on Binance NFT Marketplace. Moreover, DeRace is an NFT horse racing ecosystem. Users engage in horse races while also being able to create their own NFT hippodrome, breed various NFT horses that feature unique characteristics, and earn lucrative rewards while doing so.
Notably, this DeRace NFT horse sales will start on the 23rd of September and be carried out in three waves. Overall, there are five tiers of NFT horses, which are: Tier 1 – Olympian, Tier 2 – Demi-god, Tier 3 – Alfa, Tier 4 – Beta, and Tier 5- Omega.
Users can participate in this sale by acquiring the NFT ticket from the chosen tier horse. After acquiring the NFT ticket to DeRace stables, the user will be able to exchange it for the DeRace NFT horse once the horses are minted. More information regarding the NFT IGO can be found here.
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