NFT sales have fallen 90% since their peak in May

The People’s Bank of China (PBC) Shanghai headquarters, in collaboration with the Municipal Commission of Commerce and the Municipal Local Financial Supervision Bureau, decided to launch the “Digital RMB 5/5 Happy Shopping” bonus campaign during the “5/5 Shopping Festival”.

NFT sales have fallen 90% since their peak in May

Headlines

▌Shanghai will issue 350,000 digital RMB red envelopes

Shanghai will issue 350,000 digital RMB red envelopes of RMB 55 each. The Shanghai headquarters of the People’s Bank of China, together with the Municipal Commission of Commerce and the Municipal Bureau of Local Financial Supervision, decided to launch the “Digital RMB 5/5 Happy Shopping” red envelope campaign during the “5/5 Shopping Festival”. The two registration portals for the “Digital RMB 5/5 Happy Shopping” bonus campaign will be officially opened at 00:00 on June 5, 2021 and will be closed at 24:00 on June 6. All members of the public whose cell phones are positioned in Shanghai can register and check the lottery results on the campaign registration page from 9:00 p.m. on June 11, 2021. Approved by the State Council, the People’s Bank of China has organized some commercial banks and relevant institutions to jointly carry out research and development of the digital RMB system. According to the pilot preparation for this event, seven operating institutions, namely ICBC, Agricultural Bank of China, Bank of China, Construction Bank of China, Bank of Communications, Post and Reserve and Internet Business Bank, are currently qualified to participate in this bonus event, and other participating research institutions are actively conducting research and development. (Shanghai release)

▌Beijing will issue 200,000 Jingcai digital RMB red envelopes

The reporter just learned from the Municipal Financial Supervision Bureau that in order to accelerate the construction of the digital RMB acceptance environment for the Beijing Winter Olympic Games, promote the spirit of “strugglers” and combine with the arrangements for the 2021 Beijing consumption season, Beijing has launched the “Beijing Colorful Strugglers Digital Carnival” digital RMB pilot campaign. The Beijing Municipal Government has launched the “Jingcai Strivers Digital Carnival” digital RMB pilot campaign. The campaign is co-sponsored by the Beijing Urban Vice Center, Dongcheng District, Chaoyang District, Haidian District, Shijingshan District, and Yanqing District, and 200,000 digital RMBs will be distributed through the “Beijing Lottery Platform” to consumers who have successfully registered and won the lottery. “Beijing Lottery Red Packets. Each “Jingcai” red packet is worth 200 RMB and can be used at nearly 2,000 designated merchants in the city without any threshold. Details

Policy
▌Russian Officials: New Crypto Tax Law to be Adopted in the Fall

Golden Finance reported that Anatoly Aksakov, chairman of the Financial Markets Committee of the Russian State Duma, said that the country’s new crypto tax law is expected to be adopted in the fall of this year. It is reported that the tax bill related to cryptocurrencies has been passed in the State Duma. However, it has since returned to the committee stage and is likely to undergo protracted deliberations before the second reading. In yesterday’s news, Aksakov said bitcoin should not be offered to unqualified investors due to extreme volatility.

▌ Hainan multi-department risk alert: prevent illegal fundraising in the name of “virtual currency” “blockchain”

On June 3, the Local Financial Supervision Bureau of Hainan Province, the Haikou Central Branch of the People’s Bank of China, the Hainan Banking and Insurance Supervision Bureau, the Internet Information Office of the Hainan Provincial Party Committee, the Hainan Provincial Public Security Department and the Hainan Market Supervision Bureau jointly issued a risk alert to remind investors to prevent illegal fundraising in the name of “virtual currency” “blockchain “Blockchain” and other illegal fund-raising activities in the name of. Hainan’s financial management, network information management, public security and market supervision departments continue to maintain high regulatory pressure on “virtual currency” trading, initial token issuance (ICO) and disguised ICO, and will use a combination of on-site interviews, administrative investigations, blocking websites, criminal cases and other means to crack down.

▌Baotou: accepting reports of virtual currency “mining” disguised data centers will be cleaned up and shut down

Baotou City Energy Double Control Emergency Command Office recently issued a “Notice on the acceptance of virtual currency “mining” enterprises, personal issues letter and visit reports” said that the comprehensive acceptance of virtual currency “mining” enterprises, personal issues letter and visit reports. The scope of the report includes virtual currency “mining” enterprises (including other hidden forms of “mining” enterprises and subjects), individuals; virtual currency disguised as data centers to enjoy preferential policies in terms of tax, land, electricity prices, etc. “Mining” enterprises and individuals, etc.

▌Thai SEC: DeFi will be regulated

Thailand’s Securities and Exchange Commission (SEC) has announced that any activities related to DeFi may require permission from the financial regulator in the near future. The regulator said that the issuance of digital tokens must be authorized and supervised by the SEC, and issuers must disclose information and offer tokens through the token portal licensed by the Digital Assets Decree.

Blockchain Applications
▌National Copyright Administration Launches Blockchain Copyright Service Platform China Copyright Chain

The China Internet Copyright Protection and Development Conference hosted by the National Copyright Administration was held in Beijing. At the sub-forum on technological innovation and copyright protection, the China Copyright Association officially released the blockchain copyright service platform China Copyright Chain. According to the introduction, China Copyright Chain is able to provide rights holders with the whole process of copyright protection services such as copyright deposit and infringement monitoring of digital works.

▌China Seal Industry Association released blockchain digital seal industry standard

On May 31, China Seals Industry Association officially released the “Blockchain Digital Seal System Technical Specification” group standard, which is the first national standard for the blockchain digital seal industry. It is understood that the standard is jointly formulated by China Seal Industry Association, Ant Group, China Association of Small and Medium Enterprises and other units, and is based on the technical products of Ant Group’s Ant Chain as samples. The standard was officially implemented on June 1. In the digital era, the wide application of electronic seal has played an important role in improving the operational efficiency of government and enterprises, but the electronic seal also faces the difficulties of data tampering and difficult mutual recognition of information, and blockchain technology has become the solution, and a large number of platform applications of “blockchain + seal” have emerged over time. Technical professionals from China Seal Industry Association said, “Blockchain technology has helped electronic seals realize the upgrade from 1.0 to 2.0, and the release of blockchain digital seal standard has pushed blockchain in the seal industry from technical application to platform governance, which has positive guiding significance for the early development of the industry.”

Cryptocurrency
▌Kusama has gone live with the 1st public interest parallel chain Statemine

Parallel chain Shell has been officially upgraded to Statemine Asset Parallel Chain, which means that Kusama network has officially launched the 1st public interest parallel chain statemine and is now running stably. It is understood that through this public welfare parallel chain, the main network tokens, such as USDT, can be issued directly on Polka.(PolkaWorld)

▌Swarm Foundation: Bee mainnet soft launch will take place on June 13

Officially, the Swarm Foundation, an ethereum decentralized storage network, announced that it will soft-launch the Bee mainnet on June 13, 2021. swarm said that the Bee client has been running for a while now, and Fairdrive, Waggle, Swarm.city, Beefree, Ready Fighter One, Atelier Ludensis, and other projects have adopted the Swarm Network for their DApps. the network is now ready for a full mainnet launch, as well as BZZ token deployment and distribution.

▌Data: NFT’s sales have dropped 90% since peaking in early May

NFT sales have fallen 90 percent since peaking in early May. data provided by Protos shows the NFT market is imploding as sales in all categories continue to fall rapidly. After selling $102 million worth of NFT in one day on May 3, sales over the past week have been just $19 million. The number of NFT wallets showing any sign of activity per day has also dropped by 70% since the beginning of May, from 12,000 to 3,900. NFT sales and wallet movement have declined across the entire range of token categories, including gaming, decentralized finance, collectibles, art and more.

▌ Norton 360 Antivirus Launches Cryptocurrency Mining

Golden Finance reports that Norton (Norton) today announced the launch of Norton Crypto, a new feature designed to enable consumers to safely and easily mine cryptocurrencies through its Norton 360 security software platform. After acquiring cryptocurrency, customers can track and transfer their earnings to their Norton Crypto wallet, which is stored in the cloud so it can’t be lost due to hard drive failure. Starting tomorrow, select customers in Norton’s early adopter program will be invited to mine Ether.

▌Google Lifts Ban on Cryptocurrency Exchange and Wallet Ads

In a surprise move, Google today lifted a ban it had enforced for nearly three years on cryptocurrency exchanges from using its ad service, Golden Finance reports. According to Google’s policy update, “Starting August 3, advertisers offering cryptocurrency exchanges and wallets targeting the United States can advertise these products and services if they meet the following requirements and are certified by Google.” The requirements include the need to be “registered with FinCEN as a money services business” and registered as a money transfer institution in at least one state or as a “federally or state chartered banking entity,” which could open the door for advertisements such as Anchorage and Paxos’ advertisements open the door.

▌Ethernet DeFi Protocol Posts Record Revenue in May

Golden Finance reports that according to data compiled by The Block, the Ethernet-based Decentralized Finance (DeFi) protocol set a new all-time high in revenue in May, exceeding $370 million. second at 20.3% and third was Aave at 16.6%.

▌Jiarnan Technology: Opening Kazakhstan’s own mining in June this year

During the analyst call on June 1, Jia Nan Technology Chairman Zhang Nan Gang said that about $200 million has been paid to the fab to ensure capacity supply, which has been locked in for the next 12 months. As of May 31, 2021, the total outstanding order volume of Jia Nan exceeded 149,000 mining machines, with both US-listed Mawson and international mining giant Genesis signing purchase orders for more than 10,000 mining machines, and 29 customers with orders of more than 1,000 units. In addition, Jia Nan said it will launch self-operated mining in Kazakhstan in early June.

▌Ethiopia developers fix a major EIP-1559 vulnerability

Martin Holst Swende, an Ethercore developer from Sweden, found a major vulnerability in EIP-1559. Since EIP-1559 does not limit the maximum amount a user can pay to speed up a transaction, an attacker could insert a ridiculously high number to overwhelm the network, even if they do not have the funds to pay the tip, and eventually a large number of fake transactions could overwhelm the network. Developers have added four checks to EIP-1559 and fixed the vulnerability.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/nft-sales-have-fallen-90-since-their-peak-in-may/
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