Crypto prices have stayed within a tight range for the last few weeks. A lot of investors are getting bored waiting for volatility to bring life back to the digital asset space again. But despite the sideway motions of the market, there is still some worthwhile news within the altcoin sector. We know you don’t have the time to read through all of them, so we have created Altcoins at a Glance.
Let us get to it.
Amazon Prime Partners with Polygon Game
- Amazon Prime subscribers can now get a free NFT character and in-game tokens from Mojo Melee, a Polygon-based NFT game created by Mystic Moose.
- Prime Subscribers who register for a new Mojo Melee account can get a free NFT champion Gwyn Rockhopper and 850 Core, the game’s in-game currency.
- Subscribers can also get monthly NFT drops.
- Mojo Melee is an adventure and turn-based strategy game.
Altcoins Battle: ADA vs ETH
- Cardano (ADA) developers are active in terms of time spent developing the ecosystem. It beats Ethereum in this metric.
- Data shows that there has been an increase in developer activity from January to July.
- However, Cardano does not do well in terms of utilization
- Cardano is big on development, but its underutilization is seen as a big problem. After all, the success of any crypto project will depend on the user base. It seems like Charles Hoskinson and the team can use some help in the marketing department.
The Litecoin Halving
- The third Litecoin (LTC) halving happened on Aug 2.
- Mining reward was reduced to 6.25 LTC.
- The next halving is expected to happen in 2027.
- The original reward was 50 LTC. The program was designed to cut the rewards in half every 4 years. This limits the supply of the token, thus reinforcing the scarcity. Litecoin has a hard supply limit of 84 million. The last coin is expected to be minted by 2142.
- LTC’s current price is $83.16
Ripple Joins ISDA
- Ripple Labs joins the International Swaps and Derivatives Association (ISDA)
- ISDA is a private trade organization. Its members include banks that transact in the over-the-counter (OTC) derivatives market.
- Ripple can leverage ISDA’s expertise, guidance, and best practices on derivatives regulation. This will help the blockchain company reduce regulatory risk.
- As a member, Ripple may be able to collaborate with well-known affiliates like JP Morgan, Goldman Sachs, and BNY Mellon. ISDA has over 1000 members in 79 countries.
- Other Crypto Members include Algorand and Coinbase.
X will not launch Altcoins
- Elon Musk says X, formerly Twitter, has no plans of launching any token.
- This is a warning to would-be investors about scam tokens pretending to have ties with the social media platform.
- Scam tokens are using social media to promote their projects. They pretend to have connections with Elon Musk or to his companies like SpaceX or Twitter.
- Elon has spoken. He has no plans of launching a crypto token. So don’t believe any ads showing that he is launching one.
There you have it, your weekly summary of the altcoins market. Have you noticed some scam ads from some streaming sites and social media platforms showing Elon promoting crypto tokens? Let us know by commenting below. You can also follow @cryptonewsbytes on Twitter… oh sorry X!
