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The NFL has official confirmed its partnership with Dapper Labs to drop NFTs, renowned DJ Paul Oakenfold is dropping a tokenized album on Cardano, DC is giving away free comic book cover NFTs. Cardano’s daggy dad turns DJ Cardano founder Charles Hoskinson has teamed up with legendary electronic dance music (EDM) DJ Paul Oakenfold to launch a tokenized album on Cardano. Oakenfold is a three-time Grammy Award nominee and his career in the music industry spans back to the early 1980s. His upcoming album dubbed “Zombie Lobster” was announced during the Cardano summit on Sept. 27. Every aspect of the album will be tokenized on the Cardano blockchain , including cover art, tracks, sleeve notes and remixes. The album is part of a release from an NFT project named “Starship Universe”, which is operated by music entrepreneur Alon Shulman, who manages DJ’s such as Carl Cox. Starship Universe will reportedly release thousands of NFTs on Cardano, as part of the collaborative partnership. “I

The total value locked in DeFi protocols has surged 936% over the past 12 months. New research by analytics platform DappRadar has revealed the extent to which decentralized finance and nonfungible token (NFT) markets have grown this year. In its Sept. 30 “Value Flow Report”, crypto analytics platform DappRadar reported that recent trends have seen sizable growth in NFTs and blockchain gaming, but that DeFi is also still generating substantial value. “Although the value flows to some extent from DeFi to NFTs, it appears that both categories are generating value independently.” The research delved into Ethereum based DeFi which is still the dominant force in the sector despite the emergence of rival networks such as Binance Smart Chain (BSC), Solana, and Avalanche. Value has continued to flow in with wrapped Ethereum up 400% since July 2020 and stablecoins Tether and Dai increasing by 1,300% and 500% over the same period respectively. DappRadar currently reports a total value lo

Compound Finance (COMP) has seemingly suffered a token distribution bug after introducing and passing a recent governance vote that addressed rewards distribution, Proposal 62. Shortly thereafter, Compound reported in a tweet that there was unusual behavior regarding COMP distribution following the vote, but that “no supplied/borrowed funds are at risk.” The funds that are in jeopardy due to the bug sit only in the Comptroller contract, which means that there is a total cap of 280,000 COMP tokens that are at risk. However, that’s still a hefty number, worth over $80M USD at the time of publishing. One transaction was reportedly as high as nearly $30M alone. Let’s Get Movin’ With governance often comes the lack of immediate action. As Compound Finance CEO and Founder Robert Leshner noted in a tweet discussing the events at hand, “there are no admin controls or community tools to disable the COMP distribution; any changes to the protocol require a 7-day governance process.” The Compou

Ethereum is consolidating near the $3,000 zone against the US Dollar. ETH price could start a fresh rally if it clears $3,020 and $3,050. Ethereum corrected lower, but it found support near the $2,950 zone. The price is now trading above $2,950 and the 100 hourly simple moving average. There is a key contracting triangle forming with resistance near $3,020 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a steady increase if it clears the $3,020 and $3,050 resistance levels in the near term. Ethereum Price Stuck Below Resistance Ethereum extended its increase above the $3,000 level. ETH even tested the $3,050 zone before correcting lower, similar to bitcoin. There was a downside correction below the $3,000 support level. There was a break below the 23.6% Fib retracement level of the upward move from the $2,782 swing low to $3,050 low. However, downsides were limited below the $2,950 level. Ether price is now trading above $2,950 and the 100 hourly si

The extreme heat of the summer has subsided, so crypto mining has been given the green light as it can no longer be blamed for stressing the electricity grid. The Iranian government will allow licensed cryptocurrency miners to resume operations today following a three-month ban imposed by former President Hassan Rouhani on May 26th, 2021. The initial ban was put into effect due to concerns over the stability of the country’s unreliable power grid. The middle eastern country experienced widespread power outages in the summer, which former President Rouhani attributed to extreme heat . On some days, the heat topped 120 degrees Fahrenheit, or nearly 49 degrees Celsius. Middle East and Central Asia are under the harshest heat wave in history for this time of the year. In #Iran 51.0C at Omidieh,50.1C at Abadan,45.5C at Bam (920m asl). In Turkmenistan 46.7C Uchadzhi,in Uzbekistan 44.7C at Termez,in Tajikistan 43.7C at Isambaj (563m). pic.twitter.com/AQ5bpt93vM — Extreme Temperatures

Talking about a digital asset plan being cooked up by a Senate inquiry, Senator Andrew Bragg said, “We will want the major parties, including my party, to adopt these policies as part of their election manifestos.” Liberal Senator Andrew Bragg has told a local industry event that Australia’s digital asset plan to create cryptocurrency-related legislation is “coming” soon and could be enacted in 2022. He also backed plans to run the sector on renewable energy as part of the government's yet-to- be-established goal of achieving ‘net zero’ carbon emissions. Speaking at the virtual NFT Fest event supported by Blockchain Australia on Sept. 30, Bragg stated that the select Senate committee investigating the topic will publish its report by the end of October, which will include regulatory recommendations that can be legislated over the next 12 months. “The review is due to conclude in about three weeks from now and the promise that I made you, I will keep. We will give you a plan,

The crypto tax will begin for South Koreans in 2022 but some industry observers say there is no cause for concern. Lawmakers in South Korea settled a long political battle on Sept. 30th and headed off moves by the ruling party to delay the implementation of the controversial crypto tax legislation.  In a meeting on the 26th but only reported yesterday, Finance Minister Hong Nam-ki and key Democratic lawmakers from the National Assembly, South Korea’s legislature, are said to have come to a final agreement that the crypto tax will be carried out as planned The Korean crypto tax will tax crypto profits in a similar way to traditional stocks. It will levy a 20% tax on income generated by crypto transactions in excess of 2.5 million Korean won, or about $2,100. The majority Democratic party in the National Assembly was attempting to pass an amendment to the tax bill which would have postponed the tax until 2023. Democratic lawmaker Kim Byung-ook proposed in open session on September

The digital assets division of the international bank wants to provide home loan-backed security tokens as collateral for the loan. One of France’s leading banks has turned to decentralized finance pioneer MakerDAO to propose the submission of bond tokens as collateral for a loan of the DAI stablecoin. The historic proposal called “Security Tokens Refinancing” was submitted to Maker’s governance forums by the international bank on Oct. 1. It would be the first major collaboration between a traditional bank and a DeFi protocol and could open the door for closer integration between the two sectors. Societe Generale (SG) labeled it as the “first experiment at the crossroads between regulated and open source initiatives.” The bank has proposed that it provides “OFH” security tokens (obligations de financement de l’habitat) which are characterized as covered bonds under French law, and backed by home loans. These would be used to collateralize a $20 million loan in Maker’s DAI stable

Bitcoin price extended its recovery above the $43,500 level against the US Dollar. BTC is now facing a major barrier near $44,200 and $44,400. Bitcoin recovered above the $42,500 and $43,500 resistance levels. The price is now trading above $43,000 and the 100 hourly simple moving average. There is a rising channel forming with support near $43,340 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could accelerate further higher if there is a clear break above the $44,400 resistance. Bitcoin Price Revisits Resistance Bitcoin price remained stable and extended its increase above the $43,000 level. BTC even broke the $43,500 level and settled above the 100 hourly simple moving average. However, the price is still struggling to clear the $44,200 and $44,400 resistance levels. A high is formed near $44,100 and the price is now consolidating gains. It is now trading above $43,000 and the 100 hourly simple moving average. An immediate support is near the $43,

Billy Markus has talked up a proposed Dogecoin-to-Ethereum bridge so that DOGE can be used on top NFT marketplaces such as OpenSea. Dogecoin (DOGE) co-founder Billy Markus has set his sights on nonfungible tokens (NFTs) and an Ethereum-to-Dogecoin bridge to help bring about for mass adoption of the meme coin. In a Sept. 30 tweet, Markus emphasized the importance of completing the Ethereum-Dogecoin bridge so that the asset could be integrated with top Ethereum-based NFT platforms such as OpenSea, enabling non fungible purchases with DOGE. Markus said that there is “high demand” to purchase NFTs within the crypto community and that enabling NFT purchases with DOGE “greatly increases its utility.” DOGE being implemented into the NFT ecosystem would be a huge benefit to the community! — Mr. Whale (@CryptoWhale) September 29, 2021 The in development DOGE-ETH bridge would enable users to send DOGE from the Dogecoin blockchain to the Ethereum blockchain, and transact with the asset

This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industrys most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. Well, it finally happened. The regulation-driven crypto-apocalypse in China. They started by clamping down on miners earlier this summer before finally tightening the screws on exchanges. This week, the final nail in the coffin came with even more rules from the PBoC that resulted in many platforms announcing they could no longer accept Chinese users. Banned yet again The new rules handed down by the Peoples Bank of China made things incredibly clear for businesses from a legal standpoint. One of the main points was that cryptocurrency-related business activities are illegal, a ruling that cast doubt over the long list of projects, exchanges, and financial service providers in the country. Many projects responded instantly by eliminating WeChat comm

The release of smart contracts capability on Cardano has brought with it some interesting projects. Cardano had revealed multiple partnerships over the course of its two-day Cardano Summit. These projects aimed at increasing utilizing the capability of the blockchain to its fullest potential. But before smart contracts had debuted on the platform, non-fungible tokens (NFTs) had been supported. Cardano network has seen thousands of NFTs being minted. This had been actively encouraged by the developers in order to entice the community into using the blockchain as its default for minting NFTs as opposed to well-established networks like Ethereum and Solana. The latest iteration of the network promoting NFTs on the network has come in the form of founder Charles Hoskinson releasing dance artiste Paul Oakenfold’s album as an NFT on Cardano. Hoskinson Teams Up With Paul Oakenfold Celebrities have taken to NFTs like fish to water. From athletes to musicians, NFTs have presented as a new way

Visa has been active in engaging with crypto, and this week is no exception. Reports have emerged that the payment facilitator and financial services firm has deployed it’s first smart contract on Ethereum Testnet. The move isn’t the first to signal Visa’s increased acceptance to adopt crypto in their operations. Visa’s Universal Payment Channel The company is showing clear investment in becoming a leader of payment processing through central banks via crypto. Visa’s first smart contract deployment was a payment channel accepting both Ether and USDC. This is a conceptual protocol in development by the payment processor that will enable interoperability between central bank digital currencies (CBDCs), called a “Universal Payment Channel,” or UPC. The timing is appropriate given the global discussion around CBDCs. This week alone, Nigeria is looking to be the first country in Africa to launch a CBDC, the Bank of England has released it’s CBDC forum members, and New Zealand’s Central B

Data shows that crypto holders are increasingly shifting to DeFi protocols and DEXs as China continues its cryptocurrency crackdown and fears of heavy-handed regulation scare US-based traders. Last week China’s heavy-handed crackdown on crypto trading crypto briefly sent shockwaves across the market as Bitcoin and altcoin prices saw a sharp drop following the announcement, but as is the case with all things crypto-related, the market bounced back as resilient traders found other ways to participate in the market.  Part of China's goal in limiting citizens ability to trade cryptocurrency seems focused on discouraging the use of cryptocurrencies and the growing decentralized finance (DeFi) ecosystem but these maneuvers appear to be having the opposite effect as the token price and protocol activity for projects like Uniswap (UNI) and dYdX have seen an uptick since the crackdown began. According to data from Chainalysis, there has been a significant amount of regional Bitcoin (

$700 million in BTC options expire on Friday, and derivatives data signals that bears are positioned to profit from a sub-$45,000 Bitcoin price. Bitcoin ( BTC ) has been trading in a descending pattern since the strong $53,000 rejection that occurred on Sept. 7, and the $3.4 billion futures contracts liquidation along with China's ban on crypto trading appear to have severely impacted traders' morale.  Adding to the negative sentiment, major crypto exchanges like Binance and Huobi halted some services in mainland China, and some of the largest Ethereum mining pools, like Sparkpool and BeePool were forced to shut down completely. Bitcoin price in USD at Coinbase. Source: TradingView Based on the above chart, it is possible to understand why buyers placed 80% of their bets at $44,000 or higher. However, the past two weeks definitively caused those call (buy) options to lose value quickly. On Sept. 25, the People's Bank of China (PBoC) posted a nationwide ban on cryp

Powell testified before the House Financial Services Committee on Thursday on matters related to the economy and the Covid-19 pandemic. Federal Reserve Chairman Jerome Powell believes the federal government needs to regulate the cryptocurrency market, but that a blanket ban on Bitcoin ( BTC ) and other digital assets is not in the cards. Speaking in response to a question from Republican Representative Ted Budd of North Carolina, Powell clarified that a China-style ban on digital assets was not something he’s considering. Rep. Budd’s question came in response to Powell raising doubts about the regulatory status of stablecoins and the central bank’s ongoing deliberations around a so-called “digital dollar.” (In Powell’s view, a central bank digital currency, or CBDC, could perform many of the functions of stablecoins and cryptocurrencies but without the regulatory risk.) “Stablecoins are like money market funds [and] like bank deposits but they’re, to some extent, outside the regul

Hinging on Democrats' ability to resolve intraparty disagreements, the controversial legislation could have tangible consequences for digital finance in the U.S. and beyond — if passed by the House today. Later today, the United States House of Representatives is expected to vote on the bipartisan Infrastructure Investment and Jobs Act of 2021, a bill authorizing sweeping investments in domains such as passenger rail, bridge repair, clean and wastewater facilities, clean energy transmission, and universal access to high-speed internet. Also tucked into the massive bill are several provisions that would directly affect millions of crypto users if enacted, particularly the expanded tax reporting requirements for entities handling cryptocurrency transactions. Neither the bill becoming law nor even the Sept. 30 House vote on the bill is warranted. The legislation is working through Congress alongside the budget resolution bill, with several factions within the Democratic party — whi

The NFT launch features prominent TikTokers including Lil Nas X, Bella Poarch, Curtis Roach, Brittany Broski and others. Social media platform TikTok has announced its first foray into the NFT market with a new collection inspired by its leading trend-setters. On Thursday, the company announced TikTok Top Moments, a new program that allows content creators to be recognized and rewarded for their content. The NFT drops will be launched on Ethereum and powered by Immutable X, a new scaling solution for layer-two NFT protocol Immutable . TikTok Top Moments is said to feature a selection of six TokTok videos from the network’s most influential creators. Each one is intended to celebrate the impact of these creators in making TikTok one of the largest social networks in the world. The company said that proceeds from the sales will go directly to the content creators and NFT artists. Related: Immutable raises $60M for its carbon-conscious NFT platform TikTok appears to be slowly piv

Emile Dubié, CEO of XDEFI, is building a new browser wallet with Web 3 capabilities. XDEFI currently has nine blockchain integrations. Due to the enormous growth of DeFi and a lack of direct competitors, Ethereum wallet and browser extension MetaMask recently surpassed 10 million active users , a major milestone for the ConsenSys-led protocol. Now, a new browser wallet is looking to provide an alternative to MetaMask by doing something that most developers are shying away from — creating a web-based experience as opposed to a mobile client.  Emile Dubié, the CEO of XDEFI Wallet, explained to Cointelegraph why MetaMask’s growth has previously gone unperturbed by competitors: “I think developers decided to get on mobile being the next client for blockchain users while the reality is that most of the volume in DeFi is still going via web client. Why? Because you have more real estate from a UI point of view and browser wallets give much more flexibility to users.” This flexibility, D

Quant says some Bitcoin indicators show the same trend as in during Q4 2020, suggesting that BTC could make a similar move up. Bitcoin Netflow And Stablecoins Supply Ratio Trends Look Similar To Q4 2020 As explained by an analyst in a CryptoQuant post, two BTC indicators: the netflow and the stablecoins supply ratio, are both trending similarly to how they did during the last quarter of 2020. The Bitcoin netflow indicator shows the net number of coins entering or exiting exchanges. Its value is calculated by taking the difference between the outflows and the inflows. When the metric observes positive values, it means exchanges are experiencing more inflows than the outflows, and so more investors have started sending their BTC to exchanges for selling purposes. Similarly, negative values imply just the opposite; investors are withdrawing their Bitcoin from exchanges either to hodl in personal wallets or to sell them through OTC deals. The other metric of relevance is the stablecoi

RGT, POLY and TLOS secure double-digit gains as investor sentiment rises after the Fed says it will not ban cryptocurrencies and Bitcoin briefly reclaims $44,000. Crypto traders breathed a sigh of relief on Sept. 30 after media headlines reflected positive news regarding adoption and future regulation in the crypto sector. Early in the day, Visa announced that it has developed a layer-2-based  blockchain interoperability hub that will support cryptocurrency payments and Federal Reserve chair Jerome Powell stated that the regulator has no intention to ban cryptocurrencies. The rise in sentiment coincided with a positive day for the price action in Bitcoin, which is up 5.74% and trading near $44,000 at the time of writing.  Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Rari Governance Token (RGT), Polymath (POLY) and Telos (TLOS)