VIDEO: Recession fears weigh on crypto market

Increasing recession fears caused a broad market sell-off across the markets overnight including the crypto market.

Bitcoin remains trading below US$19,500, while Ethereum and Binance Coin are each down more than 3% and half a percent respectively.

Solana-based game platform STEPN has reported US$122.5m in second quarter profits even as the crypto market conditions deteriorated over the past few months.

And a policy paper released by the Shanghai city government early in July outlines the strategy for the city to create a metaverse industry worth US$52bn by the end of 2025 through focusing on virtual reality headsets, chips, cloud computing and 5G technology.

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