Daily CRYPTO NEWS recap📈🔥- 07.07.2024

Solana leads African crypto market; New way to integrate Web3 apps on mobile devices; Nigerian CB vs. Binance! (read more below)

•Solana made massive impact on African’s crypto market

The Chief Marketing Officer of Flincap, has emphasized the cryptocurrency industry's remarkable growth, particularly highlighting Solana's resilience and community efforts in Africa. Despite challenges such as regulatory issues, the African crypto industry remains robust. The strength and adoption of blockchain technology heavily rely on community support. The Solana Foundation has initiated several activities, including meetups, hackathons, and educational workshops, to foster this growth. That is why Solana is widely chosen to escape inflationary currencies in many African countries in economic crisis.

•New, easy solution for Web3 developers for Android and IOS

Valora, a P2P payment company, aims to expand Web3 beyond its current crypto-native audience. They have recently launched "Mobile Stack," a decentralized, permissionless, and open protocol launchpad, which is considered as a valid solution for this expansion. Research indicates that only 8 out of the top 100 Web3 DApps have a mobile-native experience. This niche presents a significant opportunity for Valora to make Web3 apps more user-friendly and accessible. Mobile Stack is expected to facilitate the creation of DeFi services and enable easier "learning-to-earn" campaigns.

•Nigerian Central Bank Accuses Binance of Illegal Transactions

The Central Bank of Nigeria (CBN) has criticized Binance for performing banking services without authorization. The Nigerian government has accused Binance and its executives of conspiring to obscure the origins of $35.4 million in proceeds from illegal activities in Nigeria. From reports we know that Binance also facilitated currency conversions from naira to dollars, which requires CBN authorization.

Stay tuned for more updates from MarMag! New posts coming soon :))

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