🚀Court Ruling Backing Grayscale's ETF Ambitions Ignites Markets
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Digital asset markets shot upwards in response to a U.S. court ruling that the SEC failed to justify its denial of Grayscale's Bitcoin ETF applications. The combined crypto asset capitalized bounced $15B in just a few hours following the news.
The bullish momentum might have also received a boost from news that X, formerly Twitter, acquired a Rhode Island Currency Transmitter — paving the way for the firm to facilitate cryptocurrency payments for its 450M active users.
Aave launched support for sDAI — DAI tokens accruing yield via MakerDAO's DAI Savings Rate, following the token's recent meteoric success. However, the MakerDAO is exploring limiting DSR yields to 5% after bumping them up to 8% at the start of the month.
The dYdX community is voting to formalize the launch of its v4 iteration and dedicated appchain. The proposal includes plans to launch a new token governing its current v3 version moving forward.
And OpenSea is working on a new feature allowing NFT holders to access "redeemable" features, typically unlocking perks by burning their tokens. The move comes as OpenSea's NFT market share continues to decline following the rise of rival marketplace, Blur.
✍️ In today’s newsletter:
- Markets climb after court upholds challenge to SEC dismissing Grayscale's Bitcoin ETF bid
- X receives license paving the way for crypto expansion
- sDAI adoption receives boost from Aave integration
- dYdX votes on plan to complete v4 rollout and appchain migration
- OpenSea looks to new NFT tech to reverse declining market share
🎬 WATCH
Watch our video on the explosive rise of Friend Tech. And check out our podcast with Paolo Ardoino , the CTO of Tether, the controversial leading stablecoins issuer.
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