Mooners and Shakers: Crypto Market Jumps as Meta Plans NFT Integration

After relatively flat price action in the market yesterday, crypto prices have surged in the past few hours as institutional adoption continues apace and Meta reportedly made a surprise NFT-related move.

According to a FinancialTimes report today citing unnamed sources, Mark Zuckerberg’s ubiquitous social media company appears to be gearing up to break into the bustling non-fungible token business of crypto.

Meta is reportedly preparing a feature that will allow users to create and sell NFTs, with Facebook and Instagram users also being able to post their NFT collections on their social media accounts.

Two sources also reportedly indicated that a Meta NFT market in the vein of OpenSea is also in the works.

There is still quite a bit of conjecture and rumor about the details surrounding this story, including what blockchain these features could be built on or integrated on, but one thing is for sure, the market is reacting favorably at the time of writing (see below). below).

Crypto mining hearing kicks off in Congress

It might be beneficial to also keep an eye out for another big development happening today, and that is the “Cryptocurrency Cleanup: Blockchain Energy Impacts” hearing taking place in the US Congress.

The scrutiny from this side of the industry, which is a staple of “proof of work” cryptos, including Bitcoin and (for now) Ethereum, comes largely from the Democratic side of the US political landscape.

Figures like fierce crypto critic Senator Elizabeth Warren and leaders of the House Energy and Commerce Committee are ramping up the pressure, so to speak, on crypto mining companies to prove or explain the value they bring to the table. to high energy consumption.

Speaking at the hearing, Brian Brooks, CEO of crypto mining company Bitfury, released some notes ahead of the meeting.

“It’s not up to the government to decide if Bitcoin is important for the future of the country – it’s the market”, said Brooks, who also served as comptroller of the currency in the Trump administration. “The market has spoken.

Overview of the top 10

With the overall crypto market cap up around 3.5% in the last 24 hours, here is the state of play in the top 10 by market cap at the time of writing – according to CoinGecko The data.

As you can see from the graph, Bitcoin (BTC) and the rest of the top 10 blockchain-populated layer 1 tokens are all doing quite well on a daily time frame right now, without particularly standing out.

gimbal (ADA), however, budged the least, despite doing its own thing earlier in the week, delivering on the promise of activating and expanding its DeFi ecosystem through the well-known decentralized platform. under the name SundaeSwap.

Winners and losers: 11–100

Sweeping a market cap range of around US$22.1 billion to around US$1.1 billion across the rest of the top 100, let’s take a look at some of the biggest 24-hour gainers and losers as of press time.

DAILY PUMPS

Cosmos (ATOM), (mc: $11.8 billion) +12%

Kadena (KDA), (mc: $1.34 billion) +12%

Osmosis (OSMO), (mc: $2.87 billion) +9%

Crypto.com (CRO), (mc: $11.9 billion) +8.7%

Sushi (SUSHI), (mc: $1.26 billion) +8.6%

ARE WE DAILY

Secret (SCRT), (mc: US$1.42 billion) -5%

Pocket Network (POKT), (mc: $1.3 billion) -4.6%

Battery (STX), (mc: $3.76 billion) -4%

Monero (XMR), (market cap: US$1.2 billion) -1%

Huobi Token (HT), (mc: $1.55 billion) -0.5%

Small cap winners and losers

Going under the crypto unicorns (in some cases far below), here is just a selection that catches our eye…

DAILY PUMPS

DEAPcoin (DEP), (market cap: $242m) +70%

Router Protocol (ROAD), (mc: USD 78.5m) +38%

Universe.xyz (XYZ), (mc: $70m) +37%

paint swap (BRUSH), (mc: 33m USD) +30%

Maple financing (MPL), (mc: USD 45m) +18%

ARE WE DAILY

Aquarius (AQUA), (market cap: $27m) -25%

Cardstarter (CARDS), (market cap: $48m) -16%

Cream (CREAM), (mc: 40m USD) -14%

Scream (SCREAM), (mc: USD 19.5m) -13.8%

Propy (PRO), (mc: USD 186m) -13.5%

Last words…

A few things to finish. Let’s get to the bad news first…

Russia’s central bank is seeking to lure China in and propose a “general ban” on the circulation and use of cryptocurrencies, including crypto mining.

But let’s end with something more positive. During interview Yesterday, Walt Bettinger, CEO of Texas-based financial services giant Charles Schwab, said “crypto is hard to ignore” and that his company would “welcome the opportunity” to offer crypto-class trading. assets in a favorable regulatory environment.

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