Der Ukraine-Konflikt und die drohende Leitzinserhöhung der amerikanischen Zentralbank verunsichern den Kryptomarkt.
Tipping-Jar – Twitter führt Ether-Zahlungen für Trinkgelder ein
Ab sofort können Twitter-Nutzer Trinkgelder in Form von Ether an ihre favorisierten Künstler und Journalisten verschicken.
Nach Druck von Aufsichtsbehörde – Binance stellt Geschäftsaktivitäten in Israel ein
Die Binance hat wohl vorläufig alle Geschäftsaktivitäten in Israel eingestellt, um mit der Kapitalmarktaufsicht die nötigen Voraussetzungen abzuklären.
X2Y2 token price jumps over 200% in two days: what is causing the new token to rally?
X2Y2 price has been soaring since February 16. It has risen by more than 200% in a little over two days.
At the time of writing, it was trading at $3.56 up 16.20% in the last 24 hours having hit a daily high of $4.17and a daily low of $2.64.
Though it is normal to see a new token rise immediately after launch, X2Y2’s surge has made headlines after jumping by over 200% in two days. Let’s take a deep dive into what is propelling the surge.
Why is the price of the X2Y2 token rising?
One of the factors being attributed to the current X2Y2 price surge is its launch on February 16. The X2Y2 Ethereum-based NFT trading platform team conducted a vampire attack, a tactical move that projects use to distribute free tokens to incentivize users of OpenSea to start using their product. LooksRare also used the same move.
In its case, LooksRare dropped tokens for OpenSea users who had traded over 3 ETH on OpenSea and also rewarded its active users. While the method attracted some traffic for LooksRare, it also led to some suspected cases of wash trading on the platform.
X2Y2 airdropped 120 million tokens, which is 12% of its 1 billion token supply to 861,417 wallets had traded on OpenSea between mid-June and mid-December 2021. Token distribution was proportional to their trading activity on OpenSea. In reciprocation, the Airdrop claimers were to list their OpenSea-listed NFTs on X2Y2 at the same price they list on OpenSea.
Although OpenSea is the leading NFT trading hub although it does not have a cryptocurrency token of its own, other alternatives are rapidly cropping up and trying to offer a better user experience as they aim at snatching the OpenSea users base. And one of the ways competitors are doing so is through Airdrops like what X2Y2 did.
X2Y2 tokenomics
X2Y2 tokenomics design was almost similar to that of the LooksRare (LOOKS) token, only that X2Y2 will pay token stakers and also an additional platform cut-off fee paid in WETH rather than rewarding users for trading.
Staking X2Y2 tokens currently is over 8000% per annual yield. In addition, the platform also rewards staking NFTs.
Listing an NFT on X2Y2 is also counted as an NFT staking and makes the users eligible for free rewards.
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SEC chair says concerns about lack of spot Bitcoin ETF under ‘careful consideration’
SEC building in Washington DC, USA
Gary Gensler said the US Securities and Exchange Commission (SEC) considers every proposal seeking the listing of spot Bitcoin exchange-traded products (ETPs)“under the appropriate regulatory framework.”
US Securities and Exchange Commission (SEC) chair Gary Gensler has hinted in a letter to US lawmaker Tom Emmer that the commission may not be any closer to approving a Bitcoin spot exchange-traded fund (ETF).
In a response to the lawmaker’s letter sent to the SEC last November, Gensler says that the agency’s handling of all the Bitcoin (BTC) spot ETFs to come before it has been in accordance with the Exchange Act.
The SEC chair, who pointed out that he remains technology-neutral, said the regulator is tasked with ensuring the proposed spot ETP is “designed to prevent fraudulent and manipulative acts and practices.”
Emmer, acknowledging receipt of Gensler’s letter, noted that lawmakers would continue to oversee the regulator towards its mission of maintaining “fair and orderly markets.”
We received a response from SEC Chair Gensler to our 11/3/21 letter regarding BTC spot ETFs. This issue remains a priority for us and we will continue to oversee the SEC in its mission to maintain fair and orderly markets and facilitate capital formation. pic.twitter.com/WbgSDj7o0T
— Tom Emmer (@RepTomEmmer) February 17, 2022
The SEC has approved a number of Bitcoin futures ETFs, with the first coming in early November as Bitcoin price rallied to its all-time high of $69,000. But while spot ETPs have been launched in Canada for instance, the US market still awaits its first spot-based fund.
Gensler, in this latest view of the matter, only appears to suggest the waiting might yet be further off. His remark about a possible approval is that the commission will give “careful consideration” to all proposals seeking the listing and trading of Bitcoin spot ETFs.
As it stands, the US has approved Bitcoin (BTC) futures ETFs by ProShares, Valkyrie, and VanEck. Of the recent spot ETF applications to come before it, the SEC has rejected proposals from SkyBridge, Fidelity and WisdomTree.
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