In This Issue
- David & Sam share their thoughts on Apple + STEPN, low crypto trading volumes, crypto tax-loss harvesting, Coinbase’s television campaign, Ripple (the central bank blockchain), Tom Emmer upgrading the Securities Act, Celsius update & MicroStrategy is open to Ordinals.
- This Week On Chain.
- Rekt Capital has the latest technical analysis for you on the market.
- This week’s trending coins by Rebecca
- Erik has a report for you on the history of debt… until Bitcoin.
- Defi Dad has a tutorial for you on how to borrow interest-free against staked ETH with Gravita.
- Jesse has a ton of hot new airdrops for you.
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The News Now
Apple 🤝 STEPN
You can now purchase NFTs with Apple Pay.
Specifically, STEPN NFTs. That’s because STEPN just announced a partnership with Apple to allow users to purchase NFTs via Apple Pay directly within the STEPN iOS app. No longer will users need a third-party crypto wallet to make such a purchase. This makes STEPN the first ever blockchain gaming app to secure such a deal with Apple.
The setup is simple. Within the app, users purchase SPARK credits via Apple Pay. Users then use their SPARK credits to purchase their desired NFT(s). Users can also hold and sell their NFTs within the app too because the full STEPN NFT marketplace will soon be made available on the iOS app.
It seems there’s always some crypto-related rumor swirling with Apple. But this STEPN news serves as one of the few hard examples of the company dipping into crypto. Other major notables are last week’s announcement that Axie Infinity will be made available for download via the App Store (although there’s no in-app NFT purchases nor any NFT marketplaces within the Axie app) and MetaMask’s integration with Apple Pay in March of 2022.
With this news, one can’t help but wonder if Apple, as well as any competitors watching these moves, will delve even further into crypto in the near future. Just a friendly PSA that Apple is the largest company in the world with a total market cap at $2.7T. Currently, more than 1 billion people use their phones, and Apple Pay serves as the company’s flagship payments application.
STEPN is a Web3 move-to-earn fitness app that operates on Ethereum, Binance Smart Chain, and Solana. Users purchase sneaker NFTs and then complete real life physical challenges to earn additional rewards. STEPN says the app has been downloaded millions of times and users collectively logged over 70 million miles by the end of 2022. STEPN’s native currency, GMT, rallied 17% on the news.
Crypto Trading Volumes Are Super Thin
Total crypto trading volumes are at record lows.
That’s according to data from the on-chain analytics firm Santiment. Specifically, the 7 day trading volume of crypto’s top assets, which includes BTC, ETH, and BNB, is at the lowest point within the past full year.
And from Glassnode, Bitcoin’s total transfer volume has dropped an astounding 79% since hitting all time highs (ATH) in early 2021.
Remember, total trading volume measures the amount that an asset is being traded within a particular time-frame….
