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NFTs and crypto policy lead the week's top stories in blockchain


The cryptocurrency market has had a banner month. After a rocky start to 2022, the market is finally turning positive in March. Since steadily declining from Bitcoin's (BTC-USD) all-time high in November, the industry's aggregate market capitalization has finally topped $2 trillion again. This past week has been extremely hectic in the area of non-fungible tokens (NFTs).


The crypto business is made up of thousands of projects that are continuously breaking news and fluctuating in price by the minute. As a result, investors are frequently left in the dark about what's really going on in the market. So, what have you missed in the vast realm of digital currency?


Here are some of the most recent crypto news stories.


Top Crypto News of the Week


Ukraine embraces crypto during crisis


Ukraine has been in the headlines for several weeks, owing largely to Russia's invasion of the country. However, cryptocurrency has been a constant thread throughout the fight. Ukraine, one of the first countries to embrace digital currency, was able to raise more than $100 million in cryptocurrency donations to aid in its defense against the invasion. Ukraine's President Volodymyr Zelenskyy signed the country's crypto infrastructure bill into law this week. The long-awaited bill's signing permits the government to access its stash of donated monies.



The European Union passes crypto legislation for member states


One of the most common complaints among CryptoPunk NFT owners is that Larva Labs, the business behind the collection, does little to help their customers. Larva has been relatively hands-off since the project's inception five years ago. This was not a problem at first, but when other projects arose promising parties, token airdrops, and other entertaining features for holders, CryptoPunk fans became irritated. Yuga Labs, the company behind the Bored Ape Yacht Club, has stepped in and purchased CryptoPunks' intellectual property. This has reawakened interest among holders, who are eager to see how Yuga enhances the investor experience.



Bored Ape Yacht Club gets its own cryptocurrency via ApeCoin


The Bored Ape Yacht Club buzz, on the other hand, did not die with the CryptoPunks acquisition. Rather, ApeCoin DAO, a decentralized autonomous organization (DAO), launched ApeCoin (APE-USD) to support the Bored Ape community. While not officially sanctioned, the coin has the approval of Yuga, who will use APE in future projects. The APE launch kicked off yesterday with a free airdrop for all Bored Ape NFT holders. With a market capitalization of over $4 billion, it is already one of the largest projects.



Anchor Protocol moves abroad, starting with Avalanche


The Anchor Protocol (ANC-USD) is a well-known decentralized finance (DeFi) staking platform. Users can stake TerraUSD (UST-USD) for a steady annual percentage yield of 20% using the Terra (LUNA-USD)-based protocol. In the aftermath of fiscal instability, it has emerged as one of the most effective tools for investors to hedge against inflation. Anchor is now expanding beyond the Terra chain, allowing more people to benefit from its offerings. It is starting by expanding to the Avalanche (AVAX-USD) network first. AVAX is up 15% in the last seven days as investors digest the positive news.



GameStop prepares for its long-awaited NFT marketplace launch


Finally, conjecture has been floating around over the last six months as a result of GameStop's (NYSE:GME) NFT marketplace. Investors initially saw proof of the technology in the fall of last year. Since then, the company has verified the platform as well as its cooperation with Immutable X (IMX-USD), raising the stakes even higher . This week, GameStop informed  that the NFT marketplace will launch at the end of the second quarter. GME stock investors are rejoicing; GME stock trading volume has more than quadrupled its average so far today.



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