Bybit Integrates Indian Digital Rupee to Enhance Security and Attract Merchants
Daily Top Performer โ Beam (BEAM)
The SPX index was up by 1.58% boosted by gains in chip stocks like AMD, Nvidia, Broadcom, and Taiwan Semiconductor after AMD's strong quarter. The market also responded positively to the Federal Reserve maintaining its funds rate but signaling a potential rate cut in September if inflation improves. Attention is now shifting to Fridayโs crucial monthly jobs report. The broader cryptocurrency market was down, with Bitcoin and Ether dropping by 0.95% and 1.83%, respectively in the past 24 hours.
Today's top performer is BEAM, which surged 5.8% following its July updates recap, which included a custodial upgrade, new games, API distribution, and Gamescom preparation.
Beam (BEAM), launched in 2023, developed by Merit Circle DAO, is a gaming-focused blockchain on the Avalanche network. It supports the creation and trading of omnichain NFTs through LayerZero. In July, Beam underwent several developments including upgrading to a custodial solution, preparing new games for launch, distributing new API keys, and preparing for their participation at Gamescom.
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Talk of the Town:
Bybit has introduced the Indian central bank digital currency (CBDC), the digital rupee, as a new payment option. This addition aims to enhance security for transactions and attract more merchants by mitigating risks associated with cybercrime. The digital rupee joins other rupee payment methods on Bybit, including bank transfers and third-party services like Paytm. Currently, the e-rupee is used for peer-to-peer crypto transactions on Bybit. Despite its potential, the digital rupee has seen limited adoption since its launch, with efforts underway to increase its usability and reach.
Bitcoin Spot ETF Flows:
Category | Flow (millions) |
GBTC | 0.0 |
Non-GBTC | 21.0 |
Total | 0.3 |
On July 31, US Bitcoin ETFs experienced a net inflow of $0.3 million. This modest positive turn was highlighted by the $18 million inflow into the newly launched Grayscale Bitcoin Mini Trust on its first trading day, contrasting with a broader day of outflows.
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Airdrop to Watch:
The Machines Arena (TMA), developed by Directive Games, has launched an 8-week Play 2 Airdrop event for PC and Android users. This event offers players a chance to earn $TMA tokens by accumulating points through activities like playing matches, completing quests, leveling up, and trading in-game assets. Participation and rank on the P2A Leaderboard will determine the token rewards received during the upcoming Token Generation Event (TGE). The event also features VIP memberships with exclusive perks like additional tokens and leaderboard access. Directive Games aims to blend entertainment with earning, enhancing the competitive gaming experience on the Ronin Network.