Crypto Flipsider News – September 6th – BTC + ETH Weekend Moves, SEC Uniswap + SEC Chairman, Binance Singapore, South Korea Telcos use Blockchain and Zilliqa NFT

Read in the digest

  • BTC + ETH weekend movements, BTC dominance losses
  • SEC seeks cooperation with crypto community
  • Binance changes offer in Singapore
  • South Korean telecommunications companies use blockchain for environmental protection
  • Zilliqa launches NFT marketplace

BTC + ETH weekend movements, BTC dominance losses

Cryptocurrencies made a spectacular entry into September, with a rising tide for all coins. has topped $ 50,000 for the second time in two weeks and is now trading at $ 51,753. ETH did not lag behind. It is up 24% in the past seven days and traded as low as $ 3,979.

Bitcoin’s dominance has declined significantly, signaling the start of the altcoin season. Other altcoins like,, Binance Coin, and Tether have risen in their market dominance lately.

Bitcoin’s 1-year index chart shows a decline in its market dominance. Source TradingView

Flipsider:

  • While the dominance of the Bitcoin market has declined, it is still the leader in institutional investing
  • Companies like MicroStrategy, Blackrock (NYSE :), Galaxy Digital, and Tesla (NASDAQ 🙂 have all invested in Bitcoin

On January 1, Bitcoin’s market dominance peaked at 72.6%. Depending on the crypto market price aggregator used, the dominance of Bitcoin was between 39.99% and 41.52%.

Why you should care

Bitcoin’s decline in market dominance means a complete decentralization of the crypto market. As a result, Bitcoin’s impact on the overall market is diminishing.

SEC seeks cooperation with crypto community

Even before his appointment as chairman of the Securities and Exchange Commission (SEC), Gary Gensler was hailed as a blockchain expert set to take crypto regulation to the next level.

“Come in and talk to us,” demanded Gensler trading platforms that account for 95% of crypto market activity. He added that regulation would restore market confidence and crypto platforms should be registered with the SEC accordingly.

Flipsider:

  • While Gary Gensler is calling for crypto exchanges to work together, Binance is trapped in the regulator’s networks
  • In July, the SEC filed a criminal complaint against Binance

While Gensler seeks a collaboration, it was revealed on Friday that the SEC is investigating Uniswap Labs, the leading developer behind one of the world’s largest cryptocurrency exchanges, Uniswap.

According to the report, the regulator is looking for more information on how investors are using and marketing Uniswap.

Why you should care

There has been uncertainty in the crypto industry as regulators try to get a grip on the industry. The SEC is currently on trial with executives and Binance. Crypto enthusiasts believe these cases will matter to the future of the industry.

Binance changes offer in Singapore

As the regulatory authorities get a better grip on the crypto industry, crypto service providers are making adjustments to meet the regulatory framework. Following regulatory warnings in Singapore, Binance has announced changes to its offering in the country.

Flipsider:

  • El Salvador has revealed plans to make Bitcoin legal tender on September 7th
  • The move is supported by social media communities

Binance will remove its mobile application from the Singapore iOs and Google Play Stores (NASDAQ :). In addition, support for SGD trading pairs (Singapore dollars) and payment options will be discontinued on the Binance platform.

Why you should care

As cryptocurrencies become more mainstream, we could see stricter rules from countries controlling their potential use.

South Korean telecommunications companies use blockchain for environmental protection

The use cases of blockchain, the technology behind cryptocurrencies, have steadily increased over the years. Since its inception, we’ve seen blockchain being used in real estate, medicine, tech, finance, media and entertainment, insurance, and government.

KT (NYSE 🙂 Corp, formerly Korea Telecom, plans to set up a digital documentation service using blockchain technology to achieve its ambitious green goals.

Flipsider:

  • Cryptocurrencies, one of the major users of blockchain, have been criticized for being environmentally friendly
  • Cryptocurrencies like Bitcoin that use proof of work have been high consumption consumers

In its paper titled E-documentation Digital Transformation (DX) One Team, the company announced plans to convert 4.5 billion paper documents to digital form each year. Achieving this performance will reduce the carbon footprint of KT Corp. by 129.6 billion tons.

Why you should care

As concerns about the environment grow, more and more companies from around the world are likely to pursue greener goals.

Zilliqa launches NFT marketplace

The euphoria of non-fungible tokens (NFTs) is back and this time bigger than ever. The popularity of NFTs has risen to an all-time high, which has resulted in an increase in sales and trading volumes.

Switcheo Labs has announced that its multi-purpose platform for minting, storing and trading non-fungible tokens will be launched on the Zilliqa (ZIL) Network.

Flipsider:

  • The Zilliqa project was launched in 2017 and was initially called “the Ethereum killer”
  • Newer projects like Chainlink, Solana and Polkadot have Zill. however stole the spotlight

According to the announcement, the NFT marketplace will be housed on ZilSwap, a DeFi platform that currently dominates the majority of DEX users within the community.

Why you should care

While Zilliqa has been actively pushing to capture Ethereum’s NFT division market share, the ecosystem is still very much in its infancy. Thus, the launch of the NFT marketplace will help accelerate Zilliqa’s growth.

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