#market

Affected by the Azuki “Elementals” NFT incident (similar artworks, errors in the artwork, and collector dissatisfaction), the NFT market fell sharply again in the past 24 hours. BAYC fell 16%, MAYC fell 20%, and Azuki fell 11%. Earlier this year, Azuki NFTs gained significant popularity, surpassing even BAYC NFTs. Meanwhile, AzukiDAO has proposed to recover 20,000 ETH from Azuki founder ‘Zagabond’. The proposal suggests hiring a lawyer to take legal action against Zagabond for their alleged involvement in multiple “rug” projects. The aim of the clawback is to retrieve $39 million worth of ETH that was earned from the controversial launch of “Elementals” NFT collection. As of now, the action has received support from 88.3% of AzukiDAO (BEAN) token holders, with 11.65% opposing it. The voting period for the proposal will conclude at 6:38 am UTC on July 3rd.

On Friday, Fidelity Investments and several other firms submitted revised applications for spot Bitcoin exchange-traded funds (ETFs) after the US Securities and Exchange Commission (SEC) deemed the initial filings inadequate. The companies, including Invesco, VanEck, 21Shares, and WisdomTree, are part of a group of eight firms aiming to launch the first wave of US spot Bitcoin ETFs. BlackRock kickstarted the trend with its unexpected filing in mid-June. In the latest filings, all five firms indicated that Coinbase Global Inc. will provide market surveillance for their ETFs, a detail that was missing from their previous applications.