Daily Crypto News Feb 4, 2022: Top 3 crypto updates for today

The first week of February has almost come to an end, and here is some amazing crypto news that will just make your weekend. Gamestop, the iconic brick-and-mortar gaming company has partnered with Immutable X to launch its own NFT marketplace. It shall use the technology of Immutable X to mint and trade its NFTs. So, OpenSea and LooksRare lovers, you have now one more NFT marketplace to look at. 

Solana has integrated Web3Auth for its digital wallet. It shall eliminate the pre-requisites for seed phrases in crypto interactions and also help in streamlining the present complex process. 

As usual, NFTs continue to steal the spotlight with their amazing and terrific performance. The monthly volume of OpenSea has top-ed $5 billion with the average daily price of the top 5 NFT collections rising by 5%. Azuki has had a stark rise of 55% in the past week. More on this crypto news is below. 

 

Quick Crypto News Roundup!

 

Daily Crypto News  Feb 4, 2022

Gamestop partners with Immutable X for NFT marketplace

Gamestop, the iconic brick-and-mortar video game retailer, announced on Thursday about its partnership with layer-2 nonfungible tokens (NFTs) ethereum scaling platform called Immutable X. This partnership has been done to develop a new NFT marketplace for GameStop. The video game company, GameStop shall be utilizing the technology of Immutable X to trade and mint NFTs. According to reports, the developers at Immutable claim the new NFT marketplace to be 100% carbon neutral which means there shall be no gas fees required. 

In addition to all this, the duo is also going to launch a $100 million grant program in IMX tokens for the NFT content creators as well as the tech developers. As we write this, the current grant is only available for corporate entities and decentralized autonomous organizations (DAOs) indulged in the development of Web3, metaverse, digital brands, and IT services. GameStop shall receive the rights to these $150million IMX tokens only when it accomplishes certain business milestones. 

Source: Cointelegraph 

Solana Integrates Web3 Auth to lower DApp barrier entry

The Solana Labs and Web3Auth have undertaken a collaborative initiative for a digital wallet that shall eliminate the pre-requisites for seed phrases in the crypto interactions and shall also help in streamlining the presently tedious as well as complex processes required to drive consumer adoption in the Web 3 sector. 

This Solana Torus wallet is treated as a non-custodial product enabling consumers to access the decentralized applications (DApps) and other associated wallets with the Solana ecosystem. 

Source: Cointelegraph 

OpenSea’s monthly volume tops $5B as NFTs rise mainstream 

The last two weeks have been terrific for  Bored Ape Yacht Club, CloneX, Azuki, and Mutant Ape Yacht club. These NFTs saw a significant rise in their floor prices as well as the total sales volume. In the last seven days, the four projects have generated a total estimate of $365,9 million in value. 

While the crypto market is still in its recovery phase from the last dip, the NFT market looks very promising by generating a daily volume of $100 million. According to the data received, the top five collections have increased their daily average price by 5% with Azuki at a startling increment of 55% on the last week. 

Read: Top 8 Altcoins to watch out for in February

Source: Cointelegraph

Crypto Market Trend February 4, 2022

Here is a quick summary of the top crypto gainers and losers for the day. 

Top 3 Crypto Gainers 

Cryptocurrency	Price (latest by February 4, 2022)	Change in %
Zilliqa (ZIL)	₹3.96	11.28%
Siacoin (SC)	₹0.85	11.21%
Hedra Hashgraph (HBAR)	₹19.24	9.01%

*All prices are latest by 3 PM IST February 4, 2022.*

Top 3 Crypto Losers 

Cryptocurrency	Price (Latest by February 4,  2022)	Change in %
Synthetix Network(SNX)	₹406.12	2.97%
Quant (QNT)	₹10984.07	0.89%
Binance USD (BUSD)	₹79.57	1.13%

*All prices are latest by 3 PM IST  February 4, 2022.*