- DailyCoin Newsletter
- Posts
- 22-08-2024
22-08-2024
Fernando Fierro
August 22, 2024
Howdy folks,
🌐🎨 NFT art remains a hot topic, with global sales drastically down from their peak and critics labeling it as worthless. Despite this, blue-chip collections like CryptoPunks and BAYC have recently shown signs of recovery, with notable rebounds in their floor prices and trading volumes.
Yet, industry observers such as Su Zhu suggest the market bottom may be in, while others, including YouTuber Crypto Gorilla, remain cautious and highlight ongoing headwinds.
In other news:
⚖️🔥 Binance and CZ face fresh legal challenges with a new class action lawsuit for alleged misconduct and involvement in money laundering. Plaintiffs accuse Binance of facilitating illegal racketeering, citing substantial financial losses for investors and non-compliance with U.S. laws.
Legal expert Bill Hughes notes the formidable legal team against Binance, indicating a tough road ahead, especially if discovery delves into blockchain tracing and asset recovery.
🚀💸 XRP has made an exciting comeback, with large-scale transfers sparking speculation amid the SEC lawsuit resolution. Notably, Binance received a 33 million XRP internal transfer, quelling rumors of a major sell-off.
Meanwhile, 25.27 million XRP sent to Bitstamp underscores growing liquidity and trading, yet regulatory uncertainties linger.
📈🌍 Brazil has approved a second Solana ETF just two weeks after greenlighting its first, positioning itself as a leader in institutional crypto investment. These Solana ETFs offer a regulated avenue for institutional investors to gain exposure to Solana, which is still largely inaccessible in many other jurisdictions.
However, some institutions question the potential price impact on SOL, citing limited demand for such products.
DailyCoin Daily Meme
Thanks for joining us today!
If you're hungry for more, check out our website.
See you next time for more crypto fun!
DISCLAIMER: The content provided does not constitute financial advice. This newsletter is purely educational and should not be considered as investment advice or a recommendation to buy or sell any assets or make any financial decisions. Please exercise caution and do your own research.