Hot news weekly from Gate.io

We have summarized the weekly hot spot report of blockchain industry for
you, including three directions:hot words, policy direction and popular
encryption currency, which can be used as the subject source of your videos
or articles. Please read it.

Hot words
ApeCoin

Futures See $36M in Liquidations After Volatile Trading
Futures tracking ApeCoin ’ s APE tokens lost about $36 million in
liquidations during a volatile 24 hours, data show.
Liquidations in the crypto market occur when a trader has insufficient
funds to fund a margin call, which is when an exchange asks for extra
collateral to keep the trading position funded.
APE prices jumped to more than $27.50 on Thursday evening from $19 on
Wednesday, before profit-taking saw the tokens decline to as low as $20.48
in Asian morning hours on Friday. Such movement occurred in an otherwise
little-changed crypto market, with bitcoin and ether moving just 2% in
the past 24 hours.

DecentWorld

According to DecentWorld, a real-world based metaverse platform, the
popularity of virtual real estate is growing and the results are speaking
for themselves. Just within the first 1.5 months since the platform launch,
the top 15 most expensive Streets on DecentWorld have already been
purchased, the total value of the Street NFTs sold on the platform make
up over $19 million.
Most Popular Virtual Real Estate Locations
On the DecentWorld metaverse platform, users can find virtual copies of
every street in the world and purchase them as NFTs. The total number of active streets on the DecentWorld Map currently reaches 12 million, and
is not final as the project’s internal Map engineering team continues
to add more. Within 1.5 months from the launch, virtual estate sales
reached $19 million, with more than 2,000 virtual Streets already sold.

VegaX

VegaX Holdings (“VegaX”), the cryptocurrency index platform providing
actionable cryptocurrency indexes and index-based asset management
products for traditional investors globally, announced the company’s
first partnership with institutional investment manager, UNCAP
Investment Management, providing the fund with access to proprietary
portfolio rebalancing tools and indexes to enhance investment returns
from the cryptocurrency markets.
VegaX clients are globally distributed, with a recent influx of new
traditional funds and institutions actively seeking the firm’s crypto
index products and technology. VegaX CEO, Sang Lee noted, “As the crypto
market hit an all time high of USD $3 Trillion in 2021, traditional fund
managers and institutions globally could no longer deny the importance
of the asset class and the diversification potential that the crypto
market provides. Sophisticated firms like UNCAP recognize the long term
opportunities the crypto market creates, allowing VegaX to be an ideal
partner in providing the technical infrastructure to support the firm’
s needs. We look forward to a long term relationship with the UNCAP team.”

Okay Bears

According to the latest data from OpenSea, the floor price of the
Solana-based NFT project Okay Bears exceeded 110 SOL (currently 111 SOL),
and the 24-hour trading volume ranked third in OpenSea, with a 24-hour
trading volume of 105,956 SOL.

Doomsday

After the success of the first season, with top players winning 255ETH, the second season of Doomsday NFTs will be released on May 15th. Doomsday
NFT is an on-chain survival game. Doomsday NFTs represent bunkers and
survivors hidden beneath cities around the world. The first season of
Doomsday NFT runs on the Ethereum mainnet, and the new season will run
on Polygon. Running on Polygon means cheaper fees, which leads to cheaper
NFTs in Season 2 and faster interaction with the game. Additionally,
destroyed bunkers will automatically be converted into collectible NFTs
on the Polygon sidechain, and players will retain full ownership.

Policy

Elon Musk Wants to Authenticate Every Twitter User. Crypto Twitter Should Take Notice

Elon Musk bought Twitter

So the bird site basically has been largely focused on what the CEO of
Tesla buying it means for free speech and bots.
Something else caught my eye in the press release announcing the
transaction. In a statement, Musk said, “I also want to make Twitter
better than ever by … authenticating all humans.”
Does this mean Musk wants to get rid of anonymous accounts entirely? And
how would this work in practice?
It seems that “authenticate” here would have to mean collecting some
form of personally identifiable information (PII). If it’s as simple as
checking a box or filling out a captcha, that doesn’t seem so bad.
It’s another story altogether if “authentication” extends to checking
a license or passport or credit card to verify that there is a real human
on the other end of the keyboard.
The implications of Twitter, which has suffered cybersecurity breaches
in the recent past, collecting PII are troubling. In particular, a large
number of Twitter’s users remain pseudonymous or anonymous for various reasons, ranging from just wanting to troll or harass people to having
credible fears of posting under their actual identities. As reporter
Melissa Chan points out, governments interested in identifying dissidents
or activists may try to leverage influence over Musk in ways they could
not influence Twitter itself.

US Lawmakers Reintroduce Bill to Give CFTC Crypto Spot Market Oversight

A bipartisan set of U.S. lawmakers are introducing a bill that would give
the Commodity Futures Trading Commission (CFTC) a greater role in
overseeing crypto spot markets.
The Digital Commodity Exchange Act of 2022 (DCEA), introduced Thursday
by representatives Glenn Thompson (R-Pa.), Ro Khanna (D-Calif.) Tom Emmer
(R-Minn.) and Darren Soto (D-Fla.), would create a definition for "digital
commodity" and allow the CFTC to oversee companies issuing or letting
people trade these types of tokens, while having the Securities and
Exchange Commission (SEC) continue to oversee tokens that fall under U.S.
securities laws.
"The term 'digital commodity' means any form of fungible intangible
personal property that can be exclusively possessed and transferred
person to person without necessary reliance on an intermediary," a copy
of the bill said.
The definition would not include any equity or debt interests, or
securities (defined as "a profit or revenue share derived solely from the
managerial efforts of others" in the bill). In other words, the SEC would
continue to enjoy its own oversight over aspects of the crypto market.
These digital commodities could only be sold on a CFTC-registered exchange,
which would have to abide by certain requirements which include holding
customers' crypto in qualified custodians, safeguarding customer assets
and prevent commingling customer and corporate funds, according to the bill.

Blackrock Launches Blockchain ETF Offering Investors Exposure to Crypto Sector

The world’s largest asset manager, Blackrock, has launched a blockchain exchange-traded fund (ETF). The fund, trading on the NYSE Arca, gives
investors exposure to “companies that are involved in the development,
innovation, and utilization of blockchain and crypto technologies.”
Blackrock Debuts Blockchain ETF
Blackrock, the world’s largest asset manager with $10 trillion in assets
under management, announced the launch of its Ishares Blockchain and Tech
ETF (ticker: IBLC) Wednesday. The new exchange-traded fund (ETF) is
trading on the NYSE Arca.

First Mover Asia: Hong Kong Isn’t Sure if It Needs a CBDC

The issues that have prompted other countries to explore a central bank
digital currency don’t exist to the same extent in Hong Kong; bitcoin
continues its mini-upswing.

Popular Currency

XRP Value Proposition

The XRP price is $0.64, a change of -1.42% over the past 24 hours as of
4:15 p.m. The recent price action in XRP left the token’ s market
capitalization at $64,076,868,353.67 USD. So far this year, XRP has a
change of -22.48%. XRP is classified as a Currency under CoinDesk's
Digital Asset Classification Standard (DACS).
XRP is the native cryptocurrency of XRP Ledger, which is an open-source,
public blockchain designed to facilitate faster and cheaper payments.
Sending payments overseas using the legacy financial system typically
takes one to four business days and can be expensive. If a person uses
XRP as a bridging currency, it ’ s possible to settle cross-border
transactions in less than five seconds on the open-source XRP Ledger
blockchain at a fraction of the cost of the more traditional methods.

LUNA

LUNA Supply Drops to All-Time Low
The supply of LUNA, the native token of the Terra blockchain, fell to an
all-time low level on Tuesday – a price-boosting dynamic that's seen by
crypto analysts as an indicator of how popular the project remains despite
nagging concerns about its sustainability.
LUNA's circulating supply – the number of tokens on the market – slid
to 346 million, down from 355 million a month earlier and a high of 482
million last November, according to Smart Stake, a data tracker platform
focused on the Terra ecosystem. The liquid supply – the number of coins
available on the market that are not locked for staking – dropped to 90
million for the first time ever.
$LUNA liquid circulating supply is below 90 million for the first time
ever.
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