Market Update: Axie on Inquirer (May 27, 2021)

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Market Price as of May 27, 2021:

Bitcoin$39,211+2.7%
Ethereum$2,884+7%
BNB$379+10.82%
DOT$24+9%
ADA$1.77+14%
DOGE$0.35+2.94
SLP$0.13+28.5%


Bitcoin closed May 26, 2021, at $39,211 per BTC. We’re up 2.4% in the last 7 days and up 32% since the year began. This is also 39% below the all-time high of $64,804, which was hit on March 13, 2021.

Bitcoin’s market capitalization stands today at $714,806,822,226 which is 41% of the entire cryptocurrency market. The entire crypto market, by the way, now has a market cap of $1,736,660,542,255  (+1.8%).

On the table above, there’s the cryptocurrency SLP. If you wonder what that is, check out this article: Playing Axie Infinity vs Minimum Basic Salary in the Philippines.

Zoom Out: Apple & PayPal

Apple is looking for an “Alternative Payments Chief”

Apple is looking for a person with over five years of experience working in alternative payments like digital wallets and cryptocurrencies:“

1. 5+ years experience working in or with alternative payment providers, such as digital wallets, BNPL, Fast Payments, cryptocurrency etc..”

2. Deep knowledge of the alternative payments ecosystem, understanding the complexities of funds flow, roles/responsibilities for settlement, relevant regulations and industry standards and the wide spectrum of FinTech products.

As per The Block, this means Apple is still interested in cryptocurrencies — “at least, in the border context of alternative payment methods.”

PayPal Will Let Customers Withdraw Crypto

Speaking at Coindesk’s Consensus conference, Jose Fernandez da Ponte, Vice President and General Manager Blockchain, Crypto and Digital Currencies at PayPal, a withdraw function for your crypto in PayPal is currently in the works. At the moment, that’s not possible even though the platform already allows crypto purchases since October 2020.

“They want to bring their crypto to us so they can use it in commerce, and we want them to be able to take the crypto they acquired with us and take it to the destination of their choice,” Ponte told the panel.

Zoom In: YGG, Inquirer

Inquirer Reports About Axie Infinity Phenomenon in the Philippines

Inquirer covered Axie Infinity yesterday, and included details about how Filipinos have used the game as a way to earn a living. Much of the details in the article were taken from the documentary: Play-To-Earn: NFT Gaming in the Philippines, which we covered here. If you 18 minutes, you can watch the video below:

YGG’s 10 Million SLPs

As a refresher, SLP is a crypto earned when playing Axie Infinity. Why does it have value? Because there are breeders who breed Axies and willing to pay for it. (Check the Axie ecosystem in our Play-To-Earn deep dive.)

Yield Guild Games is the largest scholarship guilds. In scholarships, they lend out Axies for gamers to play in exchange for a portion of the SLPs earned. Yesterday, YGG announced that their organization’s Axie Infinity scholars have collectively earned 10 million SLP which is almost $1.4 million. YGG also recently announced they have 1,000 scholars. (Read

NFT for Filipino Artists: Webinar with Luis Buenaventura

Luis Buenaventura II, Chief Strategy Officer of BloomX, was the speaker at ArtRestart Asia to discuss NFT as viable for Filipino artists. 

Happening Soon

How Blockchain, NFT, and DeFi Are Positively Impacting Lives in Emerging Economies Across The World

Leah Callon Butler of Emfarsis, the company that directed the Play-To-Earn documentary (embedded above) alongside Gabby Dizon of Yield Guild Games and Aleksander Larsen of Axie Infinity will be at Coindesk’s Consensus Distributed at 3pm ET  (3 am Manila time, but you  can watch later.) Just go to https://coindesk.com/tv

The Filipino Cosmos Ecosystem

Representatives of Cosmos, IRISnet and the Secret Network will talk about the Filipino Cosmos Ecosystem this May 30, 2021. (More details here.)

Current Campaigns

PDAX Announces Pro Mode on Mobile, Plus New Campaign Promo

As April noted earlier, crypto is increasingly becoming popular in the Philippines. Local exchanges are improving their services to cater to new users. For PDAX, they recently launched a Pro version of the app. So now, the app has Pro mode and basic mode. Basic mode allows a user to quickly swap pesos to crypto and vice versa via the “Convert” function. Pro Mode allows users to take advantage of limit orders and see the depth of PDAX’s order book.

PDAX is also running a giveaway: Users who traded between May 25 to June 7 have a chance to win the following prizes:

More details can be found here: https://support.pdax.ph/s/article/Promo-Mechanics-Trade-Like-a-Pro

This article is published on BitPinas: Market Update: Axie on Inquirer (May 27, 2021)

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