Bitcoin and Ethereum fall sharply

Major cryptocurrencies traded in the red early on June 2 as the global crypto market cap dropped 5.78 percent to $1.24 trillion over the last day. Total crypto market volume over the last 24 hours decreased 12.10 percent to $97.43 billion. Total volume in DeFi stood at $7.68 billion, 7.88 percent of the total crypto market 24 hour volume. The volume of all stable coins was $83.73 billion, which is 85.94 percent of the total crypto market 24 hour volume. Read full here

Why crypto gaming is deeply exploitative

As of October 2021, “crypto gaming” accounted for more than half of the blockchain activity over that quarter. At the same time, a treasury inquiry has led to consumer groups calling for regulation in the crypto market. Crypto evangelists say blockchains are the future of gaming, and crypto gaming is ushering in “Web3” – the so-called next iteration of the internet built on blockchain technology. How true are these promises? Read details here

Hong Kong Classic movie-themed NFT collection to launch in June

The NFT collection titled "Cryptyques" based on the classic Hong Kong movies, will be released in June. Local start-up Beam+ Lab and Hong Kong-based Mei Ah Entertainment Group have come together to launch this exclusive NFT collection series based on classic Hong Kong films. Read full story

JPMorgan CEO sees DeFi and blockchain as real tech

The chairman and CEO of JPMorgan Chase Jamie Dimon elucidated the importance of decentralized finance (DeFi) and blockchain in his annual letter to the shareholders, published on May 23. Read more here