As finance minister earlier this year he backed measures for regulating stablecoins and boldly declared he would turn the U.K. into an international hub for crypto. Now he’s prime minister and an FTX-scarred industry is watching. That’s why Rishi Sunak is one of CoinDesk’s Most Influential 2022.
The Members of Congress Who Have Stablecoin Issuers Watching Their Next Moves
Anticipation for a crypto bill out of the House Financial Services Committee ran so high this year that stablecoin issuers have been trying to meet the bill’s expected standards before the rules are even set. That’s why Rep. Maxine Waters and Rep. Patrick McHenry are two of CoinDesk’s Most Influential 2022.
Guiding the Chinese Central Bank Digital Currency the World Admires and Fears
Many nations, especially the economic superpowers, began the year in fear of being left behind by China’s relentless progress with its digital yuan. For leading the development of the most advanced major CBDC, Mu Changchun is one of CoinDesk’s Most Influential 2022.
Left Behind by the Merge, but Still Fighting
The spectacular success of the Merge obscured the stories of those who were left behind, the Ethereum proof-of-work miners who lost their livelihoods. One miner is not letting the crypto community ignore them. That’s why Chandler Guo is one of CoinDesk’s Most Influential 2022.
The OG Streetwear Designer Fighting for NFT Creator Royalties
When 20-year-old streetwear brand The Hundreds jumped into Web3 last year, its loyal fans spent upwards of $100 million on its NFTs. This year it canceled its OpenSea drop in a principled stand for creators’ financial interests. That’s why Bobby “The Hundreds” Kim is one of CoinDesk’s Most Influential 2022.
Blending the World’s Most Successful Loyalty Program With Web3
The brains behind Starbucks Rewards, which now counts 60 million members worldwide, is back to design Starbucks Odyssey, a Web3 loyalty program. That’s why Adam Brotman is one of CoinDesk’s Most Influential 2022.
The Teen Dropping $20M in NFTs
Following his breakout year as an NFT artist, this 19-year old sold a generative art collection of “paint drop” NFTs for $20 million. That’s why FEWOCiOUS is one of CoinDesk’s Most Influential 2022.
Miladys NFT Community Is the Counterculture to Cancel Culture
The uncanny, anime-inspired, profile pictures invite conversations about whether the sins of the creator are laid upon the creation. That’s why the Miladys NFT community is one of CoinDesk’s Most Influential 2022.
The Organizer of the Freedom Convoy Who Got Its Crypto Assets Frozen
Canada’s trucker protest organizers unwittingly taught us that a private citizen in that country can successfully petition a judge to freeze someone else’s crypto. That’s why Tamara Lich is one of CoinDesk’s Most Influential 2022.
Don’t Let the Neckwear Fool You
This anonymous account has been converting TradFi Toms into crypto bros. That’s why BowTied Bull is one of CoinDesk’s Most Influential 2022.
Stablecoin Issuer Circle Cancels Plan to Go Public
The firm had announced plans to go public in July of 2021.
All Aboard! Chartering the Mainstream Party Boat to the Island of Web3
Born in the depths of the pandemic, the Vayner3 consultancy has guided many of the biggest mainstream companies into Web3. That’s why Avery Akkineni and Gary Vaynerchuk are two of CoinDesk’s Most Influential 2022.
Metaverse Token Axie Infinity (AXS) Suddenly Pumps 25% – What’s Happening?
AXS, the native token of Axie Infinity, has seen its price jump in recent hours. The project is a blockchain-based game metaverse in which players collect and breed digital pets called Axies that they can be used in a turn-based card game.
At one point, AXS rose to $8.82 after trading as low as $6.41 yesterday and has seen a 28% rally in recent hours. At press time, AXS was at $8.14, still recording a price pump of about 20% over the last 24 hours.
Over the last seven days, it’s up 25%. Today’s gain is accompanied by a massive surge in trading volume, which has grown to $295 million over the past 24 hours, up 750% from the day before.
Currently, Axie Infinity (AXS) has risen to the 52nd largest cryptocurrency with a market cap of nearly $812 million.
However, despite the massive pump, AXS is still one of the biggest losers of the bear market. AXS’ all-time high stand at $164.90 and was reached in November 2021. This represents a whopping 95% loss in value.
A look at the 1-day chart reveals that Axie Infinity has still not been able to break out of its downtrend channel. For this, a break above $9.00 would be required. If it fails, AXS would continue to move in bearish territory despite the recent pump.
Fundamentals Of Axie Infinity Look Weak
Meanwhile, the fundamentals for Axie Infinity continue to look less than rosy. According to the data platform CryptoSlam, the sales volume of Axie Infinity has shrunk massively since the peak on November 3, 2021 at $40.8 million.
Since May, volume has been bobbing around below $500,000, though it was still close to $100,000 at the end of October. Yesterday, December 4, it was only $19,500.
On Its Way To Decentralization
So what is driving the AXS pump? One reason could be the impending decentralization of the project.
The team published a blog post today. In it, they shared that a group of over 700 invested and influential community members have come together to shape the future of Axie Infinity.
The Lunacian: Axie Contributor Initiative Kickoff! https://t.co/Yjs9njT5Rv
— Axie Infinity | #AxieOrigins (@AxieInfinity) December 5, 2022
The team said it wants to actively work toward an end state. In this state, “invested” community members are responsible for making decisions about resourcing the Axie Infinity ecosystem.
Currently, the project is still in the initial decentralization phase. However, important progress has been made recently as part of a step-by-step strategy, the blog post states.
As progress is made on the decentralization continuum, actions like council formation, resource allocation, on-chain voting, and treasury activation will be unlocked.
The ultimate goal is to give the collective the responsibility to advance self-organization. To this end, a collective of established community members of Axie Infinity, the “town builders,” was formed back in May.
In July, they decided to bring in a number of contributor electors to play a critical role in an initial pilot program for contributors.
In August, the town builders and contributor electors distributed applications for the contributors program. Each proposal submitted hundreds of applications.
After being elected town builders by the founding town builder team, the first 700 community members were selected today to participate in the first pilot “season” of Axie Contributors.
They will contribute to a newly created governance area on Axie Infinity’s Discord.
Coordinating the Federal Government’s Approach to Crypto
President Joe Biden raised the hopes of the U.S. crypto industry by signing an executive order that directed federal entities to better regulate crypto. That’s why Carole House, a former White House adviser and one of the order’s chief authors, is one of CoinDesk’s Most Influential 2022.
The Bitcoiner Who Stood Up to Toxicity
Nic Carter, a commentator and venture capitalist, has taken a stand against toxic Bitcoin maximalism. That’s why he is one of CoinDesk’s Most Influential 2022.
The ‘Good Cop and Bad Cop’ of US Crypto Regulations
The ongoing tug-of-war between the top two federal regulatory agencies keeps the crypto industry on its toes. That’s why Gary Gensler and Rostin Behnam share a spot on CoinDesk’s Most Influential 2022.
The Bullied Takes the Bully to Court
David beat Goliath in an Oslo courtroom in September, establishing a legal precedent for the freedom to say a self-proclaimed inventor of Bitcoin is not actually the pseudonymous Satoshi Nakamoto. That’s why Magnus Granath (aka Hodlonaut) and Craig Wright share a spot on CoinDesk’s Most Influential 2022 list.
The ‘Crocodile of Wall Street’ and Her Husband Face Trial
Words fail to describe the infamous crypto couple who allegedly laundered $4.5 billion. He’s behind bars and she’s put her raunchy rap videos on hold, but Hollywood is calling. That’s why Heather “Razzlekhan” Morgan and Ilya “Dutch” Lichtenstein share a spot on CoinDesk’s Most Influential 2022.
The Everyman of Crypto Twitter
The host of “Up Only” podcast has tracked the scams and issues with crypto in real time, even taking down an inside trader at Coinbase. That’s why Jordan Fish aka Cobie is one of CoinDesk’s Most Influential 2022.
The Force Behind a 1% Tax That Crushed Indian Crypto Trading
All signs indicate India’s powerful finance minister disdains cryptocurrencies, and now she is setting the G-20 agenda for how the world’s economic powers will regulate it. That’s why Nirmala Sitharaman is one of CoinDesk’s Most Influential 2022.