Market Update: October 17, 2022

  /  2 minutes read

In September, Polkadot recorded more than 500 contributions every single day, setting a record for the multichain protocol. A record 26,258 messages were transferred between its parachains, according to data from Polkadot’s cross-consensus interoperability standard XCM. Over 140,000 messages have been sent and received between chains across 135 channels since the system’s launch. By the end of the year, Kusama will be the first platform to receive the asynchronous backing upgrade, followed by Polkadot

Source : Cryptonewsflash

Magic Eden, the most popular marketplace for Solana NFTs, says it will no longer strictly honour creator-set royalties. Solana’s Magic Eden has been the most dominant NFT marketplace on Solana over the past year. Hadeswap and Solanart have begun cutting into Magic Eden’s dominance in recent weeks. Typically, in an NFT marketplace transaction, the seller pays the set royalty fee to the project creator. According to data aggregated by NFT marketplace Tiexo, Magic Eden is responsible for 86% of Solana NFT trading volume over the past 24 hours, as of this writing. Solana Research explored the changing tides in the Solana space last Thursday, highlighting the sudden rise of rival Hadeswap, the views of creators and collectors, and what Magic Eden said it planned to do as its grip on the market weakened

Source: NFevening

Sam Bankman-Fried, the founder and CEO of the cryptocurrency exchange FTX, has endorsed the idea of knowledge tests and disclosures to safeguard ordinary investors but suggested that they shouldn’t be crypto-specific. Christy Goldsmith Romero, the commissioner of the United States Commodities Future Trading Commission (CFTC), proposed the concept on October 15. According to Calderero, the rise of cryptocurrency has led to an increase in the number of retail investors participating in the derivatives markets. He urged the CFTC to distinguish between these investors and high-net-worth individuals. According to Bankman-Fried, the exchange has already developed a knowledge test that might be utilised on its platform as FTX.US, FTX’s US-based subsidiary, prepares to begin bitcoin derivatives trading.

Source : CNBC

That’s it for today, see you tomorrow

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