As we speak in crypto, the NFT market cap dropped 12% to $8.1 billion as Ether’s value took a tumble, Thailand will enable vacationers to make use of crypto for funds, and the Qubic neighborhood voted to focus on Dogecoin after a latest 51% assault on Monero.
NFT market cap drops by $1.2 billion as Ether rally loses steam
The non-fungible token (NFT) market misplaced greater than $1.2 billion in worth in lower than every week as Ether’s rally slowed, in response to sector information.
On Monday, NFT Value Ground information confirmed that the overall valuation of NFT collections had dropped to $8.1 billion, a 12% decline from Wednesday’s NFT market cap of $9.3 billion, which had surged 40% since July.
NFTs shedding $1.2 billion in valuation in lower than every week coincided with a 9% drop in Ether (ETH) costs. On the time of writing, Cointelegraph information confirmed ETH traded at $4,260, down from a excessive of about $4,700 on Wednesday.
Many NFTs are minted on the Ethereum community. With valuations and gross sales denominated in ETH, bullish or bearish momentum within the crypto asset usually interprets into elevated or decreased worth within the NFT sector. As ETH went down 4% within the final 24 hours, a majority of the highest 10 collections additionally confirmed declines in worth.
Whereas it continued to be the highest assortment by market capitalization, CryptoPunks noticed about $300 million wiped from the gathering’s worth.
On the time of writing, information confirmed it was value $2.1 billion, down 12% from its 2.4 billion market cap on Wednesday.
Thailand plans to launch crypto cost sandbox for vacationers
The Thai authorities is planning to announce a nationwide regulatory sandbox to permit guests to transform crypto into native forex for digital funds in a bid to spice up tourism, native newspaper The Nation reported on Saturday.
The scheme, referred to as TouristDigiPay, is anticipated to go reside on Monday and permits customers to trade crypto for Thai baht and make digital funds by suppliers regulated by the nation’s central financial institution and Securities and Trade Fee.
Vacationers in Thailand can be eligible to make use of the service after present process Know Your Buyer due diligence checks and opening an account with a digital asset enterprise. There can even be safeguards together with month-to-month spending limits and a block on direct money withdrawals.
The scheme is a direct response to a slowdown in overseas guests. Thailand had 16.8 million vacationers within the first half of 2025, down from 17.7 million within the year-earlier interval, with a 24% drop in vacationers from East Asia and a 34% fall in customer numbers from China.
Qubic neighborhood votes to focus on Dogecoin after 51% assault on Monero
The neighborhood behind Qubic, an AI-focused blockchain answerable for Monday’s 51% assault on the Monero (XMR) privateness community, voted to focus on Dogecoin subsequent.
Qubic founder Sergey Ivancheglo, who makes use of the web pseudonym Come-from-Past, gave the neighborhood a number of selections for the subsequent goal, together with DOGE, Kaspa (KAS), Zcash (ZEC), and every other blockchain named by a member.
DOGE acquired over 300 votes from the Qubic neighborhood by the point the vote concluded, greater than all different selections mixed.
Qubic’s profitable 51% assault on Monero and the truth that the neighborhood is now seeking to goal different proof-of-work blockchains may spell hassle for these blockchain-based financial networks.
