By Mark Hunter
2 weeks agoSun Oct 06 2024 07:28:16
Checking out Time: 2 minutes
Today in the crypto world, we saw Monero suffer another delisting, an XRP ETF filing, and NFTs continue their three-year downturn.
It’s over, kids.
Kraken Says Bon Voyage to Monero
Crypto OG exchange Kraken today plunged another dagger into the heart of the personal privacy coin with the statement that it has actually delisted crooks’ personal privacy supporters’ beloved Monero (XMR) in Europe. The exchange exposed that brand-new guidelines in the European Economic Area have actually left it with “no option” however to eliminate the coin from its listings, mentioning “positioning with appropriate regulative and compliance commitments.”
This news will not come as a surprise to numerous observers, nevertheless, who have actually been viewing the death of the personal privacy coin in genuine time considering that their prime time in 2017, with exchange after exchange cleaning their hands of it in order to remain certified with guidelines.
Bitwise Files for XRP ETF
We ought to have seen it coming, however it was still a surprise to discover that the most underperforming coin in the history of crypto is desired for an exchange-traded fund (ETF). Property management business Bitwise today sent an application with the U.S. Securities and Exchange Commission (SEC) to introduce an XRP ETF which, if given, would sit together with its Bitcoin and Ethereum ETFs.
The relocation is a ballsy one, considered that the SEC is at this minute in time battling versus Ripple Labs on 2 fronts over its assertion that XRP is a security, a truth that, one would believe, leaves this application as absolutely nothing more than a PR stunt. Absolutely nothing in the world of crypto surprises us any longer, so who understands?
NFTs are Still F **** d
If you’re an NFT holder you will not require informing, however NFTs are still f **** d. A month after 96% of NFTs were stated dead due to near-zero trading activities, it was reported that NFT sales volume has actually dropped to levels not seen given that 2021. According to NFT information aggregator CryptoSlam, NFT sales volume closed the month at a little above $300 million, over $70 million less than August this year.
The more impassioned ringing of the death knell likewise comes when the flooring rates of popular collections like Bored Ape Yacht Club have actually fallen, calling into question whether the NFT volume will ever go back to 2021/2022 records. Even a $56 million sale of a CryptoPunk today can not camouflage the alarming state of the marketplace (cash laundering, anybody?).
Admit it, lads, the JPEGs are done.
