Crypto Market Update (Jan 7)

24-Hour Crypto Prices:

BTC – $42,943.72 -1.1% πŸ“‰

ETH – $3,383.38 -3.8% πŸ“‰

BNB – $470.06 +0.1% πŸ“ˆ

SOL – $146.58 -3.4% πŸ“‰

Top Crypto Gainers:

MANA – $3.33 +15.8% πŸ“ˆ

CEL – $3.44 +12.3% πŸ“ˆ

QNT – $180.85 +9.0% πŸ“ˆ

Top Crypto Losers:

SPELL – $0.016 -5.3% πŸ“‰

OMI – $0.005 -5.2% πŸ“‰

CVX – $40.61 -5.1% πŸ“‰

The Securities and Exchange Commission has charged Crowd Machine and Metavine, over a fraudulent ICO of Crowd Machine Compute Tokens. The SEC also charged owner Craig Sproule, an Australian citizen, as running these operations. The project publicized that the ICO proceeds would fund development for a decentralized peer-to-peer network. Instead, the funds were diverted to gold mining companies in South Africa without alerting investors. 

In addition, the SEC claims that the CMCT token sale constituted an unregistered securities offering.

Polygon’s gas fees have jumped from a penny or less to as much as $0.50 due to increased transactions from NFT game Sunflower Farmers. Over the past seven days, a 3,704% increase in users has impacted the usability of the Polygon network. Furthermore, players have complained across social media about failing transactions. Polygon network validators have failed to submit blocks amid the rising demand.

GameStop has created a new NFT unit to build an NFT marketplace and establish cryptocurrency partnerships. The retailer has hired more than 20 people to run the project.  The marketplace will offer buying, selling and trading of gaming NFTs. 

Samsung has partnered with Decentraland to open its flagship 837 store in the Metaverse.  The electronics giant will open a physical location at 837 Washington Street in New York City’s Meatpacking District and a virtual store Samsung 837X in Decentraland for a limited time. The Samsung 837X store will showcase a Connectivity Theater, Sustainability Forest, and Customization Stage.

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