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🚀Burn ETH burn🔥

Happy Monday, Geckos!

Binance has announced that it will halt trading pairs and payment options in Singapore dollars to comply with the country's laws.

The move came shortly after the Monetary Authority of Singapore (MAS) issued a statement claiming that Binance "may be in breach of the Payment Services Act."

Binance will also withdraw its app from the Singapore iOS and Google Play stores and SGD trading pairs from Binance P2P before Friday.

In today's news, EIP-1559 burns over 200k ETH, SEC reportedly investigates Uniswap, and CryptoPunk 6275 sells for $3.9M to Pranksy.

Read on!

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24h Hot Searches Worldwide 👀

Star Atlas (-14.0%)
Solanium (+40.7%)
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Fantom (+15.3%)
Solana (+2.9%)
Binance Coin (+1.4%)
Plant vs Undead Token (+4.5%)

London's Burning Fiercely

The amount of Ethereum (ETH) burned by EIP-1559 has crossed 200,000 ETH, which was approximately $675M at the time of the burn.

An average of 300 ETH, or nearly $1.2M, gets burned each hour at current rates.

The largest gas guzzler at the moment is the NFT marketplace OpenSea, which consumed around 15% of all gas in the last 24 hours.

Decrypt

SEC Scrutinizes Uniswap

The US Securities and Exchange Commission is reportedly initiating a probe into Uniswap (UNI), the world's biggest decentralized bitcoin exchange.

According to a Uniswap Labs spokesperson, the company is "committed to complying with the laws and regulations governing our industry and to providing information to regulators that will assist them with any inquiry."

The statement came amid the US regulators increasing scrutiny of the DeFi sector, with SEC chairman Gary Gensler announcing the plan of DeFi-related legislation last month.

Cointelegraph

Pranksy Buys CryptoPunk

CryptoPunk 6275, an NFT depicting a green zombie, was sold for $3.9 million on September 4.

The Punk was purchased by Pranksy, a well-known NFT collector, just 8 hours after it was listed.

Shortly after the sale, the same NFT received an offer of 1,600 ETH, or $6.27M, but it was eventually sold again for 1,320 ETH, or $5.12M, on the same day.

Decrypt

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Trading Volume

Trading volume is considered a reference point for how active is a market is performing. It also implies liquidity as higher trading volume implies more traders in the market.

Learn about other Crypto terms here

NFT of the Day 🖼️

Beatboxes #770

Gallery: Art Blocks Playground

Beatboxes are fully immersive, virtual reality, audiovisual generative art on the Ethereum blockchain. Beatboxes consist of 841 generated unique rooms where you can fully immerse yourself with any virtual reality device. You can also enjoy them from your pc in a more conventional way. Beatboxes are our second experimental piece of art, following the successful release of Unigrids. The goal with this collection was to create an environment where you can escape your reality for a moment and enjoy your unique piece of art while stimulating the most senses possible. You can open your eyes inside your unique art piece and explore by looking around and listening as you enjoy something you own. In live view use arrows to move around and spacebar to start the music and animation. Visit beatboxes.io to browse all Beatboxes more easily, Have fun!

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