The new Ethereum fork initially saw a surge in its token price but has fallen consistently due to heavy sell pressure. The price now seems to have settled, having dropped by 95% from its all-time high of $141 in August.
Depositors on the popular NFT lending platform BendDAO removed their assets, plummeting its reserves to as low as 5 ETH on Sunday. This occurred after dozens of BendDAO loans entered the platform's danger zone at the end of last week, putting the NFTs used as collateral at risk of liquidation.
Despite disruptions in the crypto space, GameFi still cements itself as the most popular way for users to interact with crypto. The improvements to the processing and finalization speed provided by innovative blockchains is fundamentally a large reason why players have been sticking around. Avalanche looks to be an important part of the GameFi ecosystem as developers announce their debut games being built on the Avalanche blockchain.
Mercedes-Benz partners with Polygon to launch Acentrik, a decentralized data marketplace. Enterprises will be able to publish, share and monetize their data with other businesses while leveraging Polygon’s blockchain to ensure immutability, security and privacy while maintaining low transaction costs.
Binance has teamed up with payments giant Mastercard to launch a prepaid card in Argentina. The card is expected to be widely available in the next few weeks, and will provide an alternative payment solution for an Argentinian population struggling with rampant inflation.
Chipotle and crypto may sound like an unlikely pairing but the use of blockchain technology in the food service industry couldn’t be more perfect. With traditional payment processors charging up to 4% in transaction fees, restaurants have long looked for methods to reduce costs at checkout. Flexa, a blockchain payment processor, offers restaurants a 1% transaction fee.