On Sunday, August 29th, at 6:00 PM ET, Coinbase Derivatives Exchange will launch its second listed crypto derivatives product, the Nano Ether Futures contract (ET). The ET futures contract will be available to trade via leading third-party retail brokers and clearing firms upon its launch.

Bakkt Holdings, which provides digital asset management services, announced it has partnered with 127-year-old Sullivan Bank. The partnership will see Sullivan Bank leverage Bakkt® Crypto Connect to allow its customers to buy, sell, and hold Bitcoin and Ethereum.

Eminem and Snoop Dog are set to perform together at MTV’s Video Music Awards (VMAs) on Sunday, in a performance that is reportedly inspired by the Otherside metaverse and Bored Ape Yacht Club (BAYC) NFTs. The song is called “From the D 2 the LBC”.

Several tokens are leading the charge in the last 7-day period. Some of these are well-known cryptocurrencies with more liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.

Top stories in the Crypto Roundup today:

• Nano Ether Futures Contract Added to Coinbase Derivatives Exchange
• 127-Year Bank Partners With Bakkt to Allow Its Customers to Trade Bitcoin and Ethereum
• Eminem and Snoop Dogg to perform Bored Apes track at MTV Music Awards
• Crypto Market Movers: CHZ, DCR, EOS

Nano Ether Futures Contract Added to Coinbase Derivatives Exchange

On Sunday, August 29th, at 6:00 PM ET, Coinbase Derivatives Exchange will launch its second listed crypto derivatives product, the Nano Ether Futures contract (ET). The ET futures contract will be available to trade via leading third-party retail brokers and clearing firms upon its launch.

The launch of this new derivatives product is timed to coincide with the Ethereum Merge, which is estimated to take place around the 15th of September. Each ET contract is going to be sized at 1/10th of an ether as the exchange looks to make the derivatives offering accessible by retail traders. 

Previously, Coinbase had introduced a Nano Bitcoin futures contract, which was made available to trade on June 27th. Over the last 30 days, the contract has reportedly traded an average of 77,000 contracts per day.

It is important to note that the two indexes powering Coinbase’s Nano Bitcoin futures and Nano Ether futures are the MarketVector Coinbase Bitcoin Benchmark Rate (ticker: CBBR) and the MarketVector Coinbase Ethereum Benchmark Rate (ticker: CETBR) respectively.

These two indexes were developed as a collaboration between global cryptocurrency market data provider CryptoCompare and MarketVector Indexes GmbH (“MarketVector”), and then licensed to Coinbase. CryptoCompare is the data provider and calculation agent for both indexes.

127-Year Bank Partners With Bakkt to Allow Its Customers to Trade Bitcoin and Ethereum

Bakkt Holdings, which provides digital asset management services, announced it has partnered with 127-year-old Sullivan Bank. The partnership will see Sullivan Bank leverage Bakkt® Crypto Connect to allow its customers to buy, sell, and hold Bitcoin and Ethereum.

Sullivan Bank was founded in 1895. This partnership with Bakkt falls in line with its mission to bring new opportunities to their SulliFam and better serve their needs and increase engagement.

“We are pleased to work with Sullivan Bank to offer their customers the option to buy bitcoin and ether in their trusted digital banking app. To make the experience seamless for Sullivan Bank and its customers, we provide the full strength of Bakkt’s platform including compliance, tax reporting, educational resources and customer care,” said Mark Elliot, Head of Marketing & Sales at Bakkt.

“We are excited to provide opportunities for customers to access a growing and increasingly in-demand asset class with peace of mind with regard to security and regulation,” added Mallory Farrell, Chief Operating Officer at Sullivan Bank. “Bakkt’s innovative platform will facilitate this new capability within our existing banking platform and customers will be able to view their crypto balance alongside their checking and savings balance all in the same place.”

Eminem and Snoop Dogg to perform Bored Apes track at MTV Music Awards

Eminem and Snoop Dog are set to perform together at MTV’s Video Music Awards (VMAs) on Sunday, in a performance that is reportedly inspired by the Otherside metaverse and Bored Ape Yacht Club (BAYC) NFTs. The song is called “From the D 2 the LBC”.

The Otherside is a metaverse project that was spearheaded by Yuga Labs’, the entity behind the BAYC ecosystem, and NFT investment and gaming giant Animoca Brands. 

Both Eminem and Snoop Dog have exposure within the NFT space, with Eminem purchasing a hip hop clothed Bored Ape on Dec. 31 for 123.45 ETH; he also owns a collection of 28 other NFTs under the name Shady_Holdings. Snoop Dog, however, is a much more active participant, owning numerous NFTs and even launching his own collection named ‘The Doggies’. 

The VMAs viewing numbers have reportedly been declining since 2011, when it peaked at 12.4m viewers. Only 900,000 tuned in to watch the show last year. Whether the metaverse-inspired event will be able to inflate their numbers remains to be seen.

Both Eminem and Snoop Dogg hold BAYC NFTs, and the song’s music video has a BAYC theme.

Crypto Market Movers

Several tokens are leading the charge in the last 7-day period. Some of these are well-known cryptocurrencies with more liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.

Chiliz (CHZ) - Chiliz provides sports & entertainment entities with blockchain-based tools to help them engage & monetize their audiences. Aiming to elevate everyday experiences – fan engagement in entertainment, alternative payment solutions for conventional products, and more.

Decred (DCR) - Decred is an open, progressive, and self-funding cryptocurrency with a system of community-based governance integrated into its blockchain. At its core is a hybridized proof-of-work proof-of-stake (PoW/PoS) consensus system that aims to strike a balance between PoW miners and PoS voters to create a more robust notion of consensus. The project is a result of the theoretical proposals brought by proof-of-activity (PoA) and MC2 in 2013.

EOS (EOS) - EOS introduces a blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications (the “EOS.IO Software”). This is achieved through an operating system-like construct upon which applications can be built. The resulting technology is a blockchain architecture that has the potential to scale to millions of transactions per second, eliminates user fees and allows for quick and easy deployment of decentralized applications.

 

State of the Crypto by Top Tier Exchange Volume

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