Solana (SOL) and Enzyme (MLN) rally while the wider market remains flat

Significant price corrections like the one see in May inflict widespread pain for a majority of market participants and can be a death sentence for struggling projects as token holders capitulate and dump their holdings for any price offered.  While these periods are useful to help shakeout the weak hands and weed out unnecessary projects, they also offer strong performers the opportunity to stand out from the crowd and attract the attention of eager investors looking for a safe haven during choppy markets. Two projects that have been more resilient…

Wilson Chandler on NFTs and the NBA

As Wilson Chandler tells it, despite being a NBA star with a decade-plus pro career and nearly $80 million in career earnings, the 6’8 combo forward still got his start in blockchain the same way scores of enthusiasts do: trading shitcoins.  Chandler told Cointelegraph that he first heard about crypto from some “kids” he played Fortnite with in 2017. After growing fascinated by their stories of turning paltry sums into legitimate holdings, he eventually invited one out to his Chicago home for a crash-course on setting up wallets and using…

Market cycle analysis screamed ‘take profit’ ahead of May 19 sell-off

Welcome to Cointelegraph Market’s weekly newsletter. This week we will identify emerging-sector trends across the cryptocurrency landscape in order to broaden your understanding of market cycles and better equip readers to take advantage of the microcycles that are a regular occurrence in the larger market structure. The cryptocurrency sector has an established reputation for being volatile and fast-moving, and these characteristics were on full display in May as the rapid decline in the price of Bitcoin (BTC) from $60,000 to $33,000 led to a mass exodus that wiped off $1.2…

Thai SEC bans exchanges from handling certain token types including NFTs

Thailand’s Securities and Exchange Commission has approved guidelines prohibiting crypto exchanges in the country from supporting four different types of tokens in certain cases. In a Friday announcement from the Thai SEC, the regulatory body said that secretary-general Ruenvadee Suwanmongkol had approved crypto exchange guidelines, notification 18/2564 on “Rules, Conditions and Procedures for Undertaking Digital Asset Business,” on Wednesday to go into effect. The new rules ban Thai exchanges from handling meme-based tokens, fan-based tokens, nonfungible tokens, or NFTs, and exchange-issued tokens. Source: Thailand Securities and Exchange Commission For tokens…

Ripple Hires New Lawyer as Courts Discuss Fair Notice

Key Takeaways Ripple has brought securities specialist Nicole Tatz of Cleary Gottlieb Steen & Hamilton LLP onto its legal team. This week, Ripple also argued that the SEC did not give it fair notice over the legal status of its token sales. The SEC initially filed a lawsuit against Ripple in December; an end date for the proceedings is still unclear. Share this article Ripple saw two significant legal developments this week. It has added a new lawyer to its legal team, and it is contesting a key accusation from…

An NFT of the photo that inspired Dogecoin just sold for $4M

Dogecoin has seen significant attention in 2021 in tandem with its dramatic price rise. Capitalizing on this rise in attention, someone sold a non-fungible token (NFT) of the picture on which the Dogecoin (DOGE) cryptocurrency was based.  “The original image that started it all,” read the description of the NFT, sold on very.auction. “This photo of the Shiba Inu ‘Kabosu’ was taken by her owner Atsuko Sato on February 13th, 2010,” the description explains, adding: “After sharing it to her personal blog alongside the series of other famous images under the…

Solo dev ‘Dreesus’ on making a memecoin legit

You might not know Dreesus, but if you’ve been following crypto the last few months you’re likely familiar with his work. Following the launch of his Simple Cool Automatic Money ($SCAM) token, the pseudonymous developer garnered coverage from a seemingly endless list of mainstream and cryptomedia publications, including Vice, The Wall Street Journal, Benzinga, Mic, The Verge, The Week, and CNBC, among others. Launched in early May at the peak of the memecoin bubble, SCAM was part experiment — Dreesus had never launched a token before — and part an…

Bill banning crypto mining for 3 years dies in NY state assembly

A bill which would have required miners in New York to halt operations for three years as part of an apparent effort to slow the environmental impact of crypto has been defeated in the state legislature. New York Senate Bill 6486 failed to pass the state assembly today after lawmakers in the Democrat-controlled state senate approved the legislation earlier this week. The bill was aimed at establishing “a moratorium on the operation of cryptocurrency mining centers” while experts considered the environmental impact of mining, particularly those backed by fossil fuels.…

Original Doge Meme NFT Sells for Over $4 Million

Share this article The original Doge moves onto Ethereum, selling for a seven-figure sum.  Bidding War for Doge NFT A Doge NFT just sold for $4,074,765.97.  The token featured the original viral image of Kabosu, a Shiba Inu dog that rose to Internet stardom back in 2010. A photo of the dog famously became a viral meme known as “Doge,” eventually inspiring the Dogecoin cryptocurrency that’s dominated news headlines and Elon Musk’s Twitter feed this year.  Kabosu’s owner, who uploaded the popular photo to her blog more than a decade…