[Link to FM] Coinbase will launch The Sandbox (SAND), and Mirror will launch the function of casting articles into NFT

【Data Intelligence】

The difficulty of Bitcoin mining was reduced by 4.33% to 29.90 T, the largest drop since August 2021

On May 26, according to BTC.com data, the difficulty of Bitcoin mining was reduced by 4.33% to 29.90 T at block height 737856, the largest drop since August 2021.

The floor price of CryptoPunks fell by more than 50% compared with last month

As the NFT market continues to decline, as of press time, the floor price of CryptoPunks has fallen to 47 ETH ($91,673). This has brought the floor price of this NFT series down by more than 50% (in USD terms) over the past month, from a floor price of $186,442 on April 25.

【 Regulatory News 】

Portugal's Parliament Votes Against Two Proposals to Tax Crypto Assets

On May 26, the Portuguese parliament voted against two proposals by minority parties to tax cryptoassets, ECO reported. It is reported that the Portuguese Finance Minister Fernando Medina had previously stated at a hearing in the Parliament of the Republic that he would plan to tax cryptocurrencies.

Paraguay's House of Representatives Passes a Bill Regulating Crypto Mining and Trading

Paraguay's House of Representatives approved a bill regulating crypto mining and tradingin a 40-12 vote on Wednesday . The country's Senate already passed similar legislation in December, and the bill will now return to the agency with changes in the House. Once the Senate approves the changes, the pending law will be handed over to the executive branch, which has yet to indicate whether it will sign or sign it. veto. Carlos Rejala, one of the authors of the bill, said in an interview last year that the bill was aimed at attracting international miners to Paraguay, which has one of the lowest electricity prices in Latin America at about 5 cents per kilowatt-hour. If the bill becomes law, individual and corporate miners will have to apply for industrial electricity authorization and then apply for a license. The proposal also creates a registry for any individual or legal entity that aims to provide crypto trading or custody services to third parties, but does not include the concept of an exchange.

【Industry Trends】

The main network of Kava 10 has been upgraded successfully, and the common chain of Ethereum and Cosmos has been launched

Kava has successfully completed the mainnet launch of the Kava 10 upgrade on May 26, Beijing time, activated the Ethereum Virtual Machine (EVM) of the Kava network and launched the Ethereum and Cosmos co-chain. The Kava 10 mainnet supports users to encapsulate and unencapsulate KAVA as ERC-20 on MetaMask. At present, more than 35 Web 3 protocols have announced through the Kava Pioneer Program that they will soon be deployed to the Kava network. At the same time, Kava launched a $250,000 mainnet cross-chain experience event.

Mirror launches feature to mint articles as NFTs

On May 26th, Mirror, a decentralized content publishing platform, announced the launch of the function of casting articles into NFTs, and launched the article NFT trading leaderboard and collectors profile page at the same time. After the author mints the published article into an NFT, the user can purchase the NFT by clicking "Collect" on the article page.

Binance Loans Has Started Accepting AVAX and ADA as Collateral Assets

Binance Loans will now accept AVAX and ADA as collateral, and they will offer loan orders secured by these two tokens to reduce borrowing costs. However, Binance Loans also offers multiple cryptocurrencies as collateral assets, loan limits and interest rates, depending on internal risk mitigation and market conditions.

Kongregate Partners with Immutable X to Launch $40M Blockchain Game Development Fund

On May 26, Kongregate, a flash casual game platform, and Immutable X, an NFT Layer2 solution, launched a $40 million blockchain game development fund. In addition, Kongregate will be relaunched later this year, aiming to be a gathering place for blockchain game independent developers as well as a new generation of gamers. Rhythm previously reported that Immutable X announced a partnership with Kongregate in February this year. The two parties will jointly develop Web3 games and will release two NFT games based on blockchain technology later this year.

Ethereum client Geth releases version v1.10.18, including many preparations for the merger of the Ropsten testnet

On May 25, the Ethereum client Geth released version v1.10.18. According to the release log, this version contains a number of preparations for the merger (The Merge) of the Ropsten testnet. When the total difficulty of the testnet reaches 43531756765713534, the merge will be activated on it.

【Elite Viewpoint】

Fed Vice Chairman: We Should Play a Key Role in Setting Global Standards for Cryptocurrencies

Federal Reserve Vice Chairman Brainard said that we should play a key role in setting global standards. The recent fluctuations in the stablecoin market have shown the need for regulation. A decision has not been made on the issuance of a central bank digital currency (CBDC). The risk of a global recession has increased , should assess how the U.S. dollar might be affected in the absence of a U.S. central bank digital currency (CBDC). A digital financial system needs clear regulatory guardrails. A US central bank digital currency (CBDC) is one way to ensure continued global use of the US dollar. Newer digital currencies such as stablecoins could lead to counterparty risk. Private money could create risks to consumer protection and financial stability. .

JP Morgan: Digital assets have replaced real estate as the preferred alternative asset class

Digital assets have replaced real estate as the preferred alternative asset class, according to JPMorgan’s Alternative Investments Outlook and Strategy Note. JPMorgan strategist Nikolaos Panigirtzoglou said in a note to clients on Wednesday that while public markets have priced in severe recession risks and digital assets have repriced significantly following the terra USD crash, private equity, private debt and real estate, among others, Some of the alternative assets seem to be lagging a bit, so we are replacing real estate with digital assets as our preferred alternative asset class. As for alternatives overall, the team downgraded them from overweight to underweight, expecting traditional assets to return 12% over the coming year, compared to just 10% for alternatives. Looking at cryptocurrencies more broadly, they said Terra's debacle hit sentiment, thereby providing a "good entry point" for long-term investors.

【What to watch today】

Coinbase will list The Sandbox (SAND)

On May 25th, Coinbase announced that it will launch The Sandbox (SAND), and the transaction will start after 00:00 on May 27th, Beijing time. Once the SAND-USD trading pair has established sufficient liquidity, the SAND-USDT trading pair will be launched in stages.

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