A recent report by DappRadar indicates that although the trading volume of NFTs is on a downward trend, there is still a significant number of traders and sales, indicating a shift in trader behavior.
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There is a Latin proverb which states, "quod approbo non reprobo" The literal translation of the proverb is "I cannot disapprove of something which I approve."
The Bored Ape Yacht Club's floor price has dropped by half since the beginning of the month, as NFT pricing and sales volume have declined across the board.
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On Monday, meme coin traders enthusiastically invested in various pizza-related tokens, but the anniversary of the first bitcoin purchase was overshadowed by rug pulls that dampened the mood.
Cathie Wood also alluded to the significant downfall of the crypto exchange FTX last year, stating that it effectively 'proved the concept' of bitcoin.
The project additionally introduced its new PLEX client, designed to alleviate the demands of computationally intensive tasks involving scientific data.
The bank anticipates a continued lack of activity in digital asset trading, as retail investors choose to stay out of the market.
The SFC's guidelines explicitly forbid the distribution of crypto 'gifts' intended to encourage retail investments, which may encompass airdrops. Additionally, the guidelines state that stablecoins should not be allowed for retail trading until they undergo regulatory oversight.