Bitcoin in green, Cardano biggest gainer

Major cryptocurrencies traded in the green early on June 3 as the global crypto market cap increased 2.01 percent to $1.26 trillion over the last day. Total crypto market volume over the last 24 hours decreased 28.45 percent to $69.74 billion. Total volume in DeFi stood at $5.38 billion, 7.72 percent of the total crypto market 24 hour volume. The volume of all stable coins was $59.36 billion, which is 85.11 percent of the total crypto market 24 hour volume. Read full here

Why is Ethereum so popular for NFT projects?

Non-fungible tokens (NFTs) made their debut in 2017, with the likes of Cryptopunks and Cryptokitties quickly grabbing buyer attention. Since then, the NFT market has exploded, with Ethereum being one of the main contributing factors. But why was Ethereum at the forefront of the NFT boom? And why are most NFT projects based on the Ethereum blockchain? Is it the only way to go about making an NFT? Read details here

First-ever insider trading case hits crypto market

A former product manager of Ozone Network (OpenSea), named Nathaneil Chastain has been charged with insider trading in crypto assets. This makes it the first-ever case of insider trading in the digital asset market. New York-based Chastain is charged with wire fraud and money laundering in connection with a scheme to commit insider trading in non-fungible tokens (NFTs) by using confidential information for his personal financial gain. Read full story

MAS to explore the economic potential of DeFi

 The Monetary Authority of Singapore (MAS) has announced ‘Project Guardian’, a collaborative initiative with the financial industry that seeks to explore the economic potential and value-adding use cases of asset tokenisation. Project Guardian, which was launched by Heng Swee Keat, deputy prime minister and coordinating minister for economic policies, at the Asia Tech X Singapore Summit, will test the feasibility of applications in asset tokenisation and DeFi (decentralised finance) while managing risks to financial stability and integrity. Read more here