Weekly Wrap-Up: Number Go Up, For SLP Atleast (July 5, 2021)

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Market Price as of July 5, 2021:

Bitcoin$35,394+1.91%
Ethereum$2,329.00+4.53%
BNB$308.26+3.44%
DOT$16.03+3.35%
ADA$1.46+3.55%
DOGE$0.246796-0.16%
SLP$0.154-3.2%


Bitcoin closed July 4, 2021, at $35,394 per BTC. We’re up 14.1% in the last 7 days and up 17% in the last 30 days. This is also 45% below the all-time high of $64,804, which was hit on March 13, 2021.

Bitcoin’s market capitalization stands today at $647,633,037,652 which is 43% of the entire cryptocurrency market. The entire crypto market, by the way, now has a market cap of $1,484,981,959,490 (+1.1%).

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.

Note: Information presented in this article is for your reference only and must not be construed as financial advice. 

News

SLP, AXS Go Up

Two tokens associated with Axie Infinity, AXS and SLP, went up significantly this weekend after changes to breeding requirements of Axies and continued increased demand for Axies. When Sky Mavis, the developers of the game, announced that it is increasing the AXS requirement for breeding from 2 AXS to 4 AXS, it said it thought the move would enable a healthier Axie economy. The chart of cumulative Axie volume, so far, looks like this:

This means despite the increase in breeding requirements, the demand for Axies are just continuing to cause the prices to further increase. This is good for Axie players liquidating their SLP but breeders (or possibly the small time breeders and those wanting to play Axie by buying their own team) might be hurting. Sky Mavis did say that the increase in breeding fee is just temporary.

SLP Price:

AXS Price:

Read our latest articles on Axie Infinity:

Local Crypto News

PSE Considers Hosting Structured Crypto Trading ‘to Protect Investors’

In an online news briefing, PSE President Ramon S. Monzon said it is considering to host crypto trading on the stock exchange itself, primarily for the protection of investors. For that to happen, guidance from the Philippines Securities and Exchange Commission must be clarified first. “We’re waiting for the rules from the Securities and Exchange Commission,” Monzon said. 

“It’s an asset class that we cannot ignore anymore.” 

Binance Applies Transaction Fees to P2P Trading

In an announcement, Binance said it will maintain 0 fees for market ‘takers’ (people who interacts with existing offers on the platform) while market ‘makers’ (people who post advertisements or offers on the P2P marketplace or to put simply, the merchants) will be charged a fee rate ranging from 0 to 0.35% depends on the fiat markets & trading pairs used. This is effective as of July 1, 2021 2:00 AM (UTC).

PH SEC Advisory Against MASA MART – XUM TOKEN – Investment Scheme

SEC also confirmed that this is a ponzi scheme and warned that those people who act as salesmen, brokers, dealers or agents may be criminally prosecuted & penalized with a minimum fine of Five Million pesos (Php 5,000,000) or be penalized by Twenty-one (21) years of imprisonment or both pursuant to Sections 28 & 73 of the SRC.

PayMaya Eyes Digital Banking License After Securing $167M from Tencent, PLDT, IFC

28 percent of the capital (around $46 million) came from previous pledge funds and the remaining (around $121 million) came from existing PLDT shareholders; KKR, a global investment firm; Tencent, a Chinese multinational technology conglomerate holding company; International Finance Corporation (IFC), a member of the World Bank Group; and IFC Financial Institutions Growth Fund, a fund managed by IFC Asset Management Company (IFC-AMC) which is operating under IFC & a new investor.

The capital raise will be used to accelerate their expansion & obtain a digital banking license from the Bangko Sentral ng Pilipinas (BSP). Once granted, PayMaya could provide a more low-cost, mobile first, neo-banking service on the back of its tech stack. (Read more: BSP Approves ‘Digital Bank’ as New Category of Bank)

Feature

Four Tips for NFT Artists To Protect Themselves from Hacking and Online Theft

As NFT art continues to gain popularity, malicious hackers and art thieves have started targeting NFT artists as well because of the demand and high potential reward. We shared some ideas in this article in order for NFT artists (and virtually anyone working online) to protect themselves from hacking and online theft.

This article is published on BitPinas: Weekly Wrap-Up: Number Go Up, For SLP Atleast (July 5, 2021)

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Michael Mislos

A business ad graduate from the Pamantasan ng Lungsod ng Maynila, Mike is the website manager of Bitpinas.com. He is responsible for almost every content you see on the site, from topic/news selection to editing of articles. Mike believes correct information about blockchain and cryptocurrency can empower people to make accurate decisions about the industry, which, in turn, should deter bad actors from taking advantage of crypto & blockchain. [Telegram @mikemislos]