Global crypto market capitalisation stands at US$1.14tn this Tuesday morning, marking a 3% drop in the past 24 hours.
Bitcoin fell 2.6% to head below the key US$24,000 price point, while roughly 4% was chipped away from Ethereum’s impressive recent rally.
Fan engagement token Chiliz was one of the few daily risers, surging 15.5%, while decentralised blockchain network Ankr added over 7%.
Blockchain networks as a whole continued to trend downwards though, with Solana, Polygon, Tron and Avalanche all encountering low-single-digit losses.
Total volumes across the decentralised finance (DeFi) space also shaved off a few percent, dropping to US$67.3bn.
Decentralised exchange Uniswap was one of the largest fallers in the DeFi space, losing 5% of its market cap, while Convex Finance suffered similar losses.
There’s no love for play-to-earn (P2E) at the moment, with the three big hitters Sandbox, Decentraland and Axie Infinity all trading flat to bearish.
In the news
Metaverse trademark applications continue to pour into the registries; from Spanish football champs Real Madrid and FC Barcelona to US fast food chain Taco Bell, large-scale businesses are rushing to secure their virtual presence in the Web3 world.
A global crypto-sceptic conference is scheduled to be held on September 5 and 6 to discuss topics ranging from fraud and crypto’s environmental impact, to regulation and the politics of blockchain technology.
The Crypto Policy Symposium 2022 will feature journalists from the Financial Times, Academics from the London School of Economics, and actor Ben McKenzie from (checks IMDB) The O.C. and Gotham.