Latest Crypto News: Bitcoin NFTs To Hit Binance Marketplace In May; Aragon Steps Up Defences Against Cyberattack

Here are some developments in the world of crypto over the past few days.
Latest Crypto News: Bitcoin NFTs To Hit Binance Marketplace In May; Aragon Steps Up Defences Against Cyberattack

The Binance NFT marketplace has announced that users can soon trade in Bitcoin NFTs on the platform through their existing wallets.

Bitcoin ordinals, or NFTs', popularity soared ahead of their launch on the Binance NFT marketplace later this month.

On May 9, crypto exchange Binance declared that before the end of May, its NFT marketplace would handle Bitcoin ordinals. This addition is expected to broaden Binance's multi-chain NFT ecosystem.

Previously, the Binance NFT market was connected to decentralised networks such as Ethereum, Polygon, and BNB Chain. Commenting on the product expansion and Bitcoin’s legacy in the crypto space, Binance product head Mayur Kamat said, “Bitcoin is the OG of crypto”.

Aragon Steps Up Defences Against Cyber Attackers

The Aragon Association has dropped plans to give ANT holders voting rights over its DAO in the wake of the attack. Aragon is an open-source platform for creating decentralised autonomous organisations (DAOs).

The original Aragon (ANT) token holders will no longer have voting rights over the organisation’s future course. In a tweet on May 9, the Aragon Association, the Swiss-based company that controls the management of Aragon, stated that it has fulfilled its ‘fiduciary duty’ to protect its finances and overall objective by ‘repurposing the Aragon DAO as part of a new grants programme.’

The choice was made in response to an attack on the recently created Aragon DAO by a group known as the "Risk Free Value (RFV) Raiders," who were trying to exploit ANT to make money.

BRC-20 coins' market worth surpasses $1 billion

The growth in BRC-20 tokens comes just two months after the creation of the Bitcoin token fungibility protocol. On May 9, the entire market value of BRC-20 Bitcoin tokens exceeded $1 billion, with a $207.7 million trading volume over the previous day. The most prominent deployed tokens with sharp price fluctuations over the last day were ORDI, NALS, VMPX, PEPE, and MEME.

The BRC-20 token standard is a novel fungible token that employs “Ordinals and Inscriptions” to create and manage token contracts, token minting, and token transfers, stored on the Bitcoin base chain. Each satoshi, or 0.00000001 Bitcoin, is given a unique number via the numbering system known as ordinals, allowing for its tracking and transmission. A layer of data is added to each satoshi during the "inscription" process, enabling users to establish distinctive digital assets on the Bitcoin network.

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