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Blockchain-based play-to-earn project, Axie Infinity, witnessed a remarkable surge in its native cryptocurrency, AXS, following the successful release of their card-based strategy game on the Apple app store. AXS experienced a significant boost of more than 12%, rising from $7.16 to $8.04 upon this exciting development, making it the top performer on CoinDesk Indices' leaderboard. The game's initial launch on the Apple store will cover regions in Latin America and Asia. Conversely, Bitcoin struggled to maintain its position above the $27,000 mark on Wednesday, primarily due to investors closely monitoring updates regarding the potential increase of the U.S. debt ceiling. The world's largest cryptocurrency in terms of market value has faced a 9% decline over the past month.

Crypto companies fleeing U.S. regulatory uncertainty have been offered a welcome in France, by officials boasting a regulatory framework that offers relative predictability. The European Union member already boasts around 74 registered crypto companies. “In France, we are proud to be pioneers,” said Benoît de Juvigny, Secretary General of the Autorité des marchés financiers (AMF), noting his country’s crypto service asset provider regime – known as PSAN – was passed in 2019, “If American players want to benefit, in the very short term, from the French regime, and from the start of 2025 from European arrangements, clearly they are welcome,” he added. “We have good relations and discussions with our U.S. counterparts.”

Using distributed ledger technology (DLT) in securities markets could create savings north of $100 billion per year, a report produced by a major traditional-finance lobby group has said. In a paper published Tuesday evening, the Global Financial Markets Association (GFMA) called for regulators to allow the technology that underpins crypto to aid collateral management, asset tokenization and sovereign bond markets.“ Distributed ledger technology holds promise for driving growth and innovation,” said Adam Farkas, Chief Executive of GFMA, whose affiliates in the U.S., Europe and Asia count major players such as JPMorgan Chase, HSBC and Nomura among their members.

Chart of the Day

 

  • The chart illustrates the 24-hour fluctuations in trading volume and open interest for futures linked to the top 10 cryptocurrencies.
  • XRP, a cryptocurrency primarily focused on payments, has emerged as the most dynamically traded digital asset in the last 24 hours, showcasing an impressive surge in trading volume exceeding 200%. Moreover, the notional open interest, representing the monetary value locked within active futures contracts, has witnessed a notable uptick of 9%, indicating a significant influx of fresh capital into the market.
  • Heightened volumes and open interest frequently lead to heightened price volatility.

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Source Coindesk