Category: Cryptocurrency News

CEO Michael Sonnenshein said the firm’s European rollout would be done piecemeal due to various regulatory regimes and investor attitudes.

Holding BTC price below $39,000 will give bears a $350 million profit in this week’s $1.9 billion options expiry.

So, you have heard about NFTs and how these “digital avatars” are printing money for their holders. In 2021, NFTs were so popular that the term was christened Word of The Year by a famed dictionary company. There is a social buzz around NFTs and probings as to whether they offer more than just being overpriced avatars, or come with no other utility behind the art, even with proof of ownership. NFTs are more than just get-rich-quick-schemes or digital art you can right-click save on. Apart from representing art, Non-Fungible Tokens (NFTs) are unique digital assets that also represent ownership of other real-world items like video clips, music, and more recently, exclusive access to some of the finest establishments globally. The sheer potential of the NFT industry is mighty, and impressive when utility comes into play. Even with the provision of royalty distribution for creators and all-access passes to events, permitting ownership and trading of in-game assets, and even fractionalizable assets like land, the NFT industry is still a germinal seed in the grand scheme of things. Who would have thought a string of code on the blockchain could uniquely render redeemable real-life utility and even access to lifetime memberships that are of immense benefit to the asset holders? Nowadays we are seeing projects leverage this innovation to make NFT lovers go nuts. For example Drunken Monkey, are 9995 unique NFTs that not only give proof of ownership but allow entitlement to global concierge services that connect members to exclusive restaurants, night clubs, beach clubs, yacht chartering, and other exciting luxury services in real-life, not only in some faraway metaverse. Talk about utility! Drunken Monkey has partnered with a host of global VIP service providers to give their members exclusive concierge services and privileges for holding the Drunken Monkey NFTs.  With a private sale that sold out in only 20 minutes, one Drunken Monkey unlocks a selection of desirable venues, exclusive sporting events and trendy restaurants across some of the greatest destinations, from London, Dubai, Las Vegas, Barcelona, Paris, Milan, Bali, Mykonos and New York with many more destinations added daily. The difference between an NFT project with a credible team and real-world utility, and one with none is what allows Drunken Monkey to be so rewarding for its members. To take Drunken Monkey and its services to the next level, the team is launching an app with developments well underway. NFT holders now are looking for more than just an aesthetically pleasing image or hype, consumers want to put a use to their investments which is why projects such as Drunken Monkey are changing the game.

Dragonfly, a well-established figure within the venture capital scene, will utilize the capital to invest in early- to mid-term projects within the crypto ecosystem.

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Bitcoin’s decline in the last week of April has been felt around the market but altcoins have taken the biggest hit of all. More specifically, Small Cap altcoins have been on the receiving end of this decline. Even as the end of the month draws to a close, these altcoins have yet to get a reprieve from this decline. However, the month of May could prove to be better for these small market cap coins given that recoveries tend to come after the worst declines. Small Cap Altcoins Take The Heat All of the indexes have had a bad month in April but the Small Cap Index has suffered the most of this. The index has surpassed the losses garnered by the other indexes this month by at least a 12% margin. The other three indexes which are considerably larger than this index have fared much better in this regard. Related Reading | TA: Bitcoin Resumes Downtrend, Why Upsides Remain Capped This Small Cap Index, coming out of a highly successful month of March, took a significant nosedive at the start of the month and has maintained that downtrend since then. By the end of April, the losses in this index have grown as high as -28% in this time. This is a normal phenomenon, however, as the Small Cap Index is known to perform very badly during poor market conditions. The performance seen by the index in the month of May had been an outlier. Small cap index suffer losses | Source: Arcane Research For the other indexes, some have fared better than others, although bitcoin did not come out on top this time. That title went to the Mid Cap Index which recorded the lowest losses for the month out of the four indexes with a -10% loss. The Bitcoin Index rolled in at second place with a -13% loss. The Large Cap Index was the worst performer of the three with a -16% loss. However, this number still puts it ahead of the Small Cap Index by a significant margin. Crypto Market Remains Fearful The performance of the smaller cap altcoins is no surprise given the state of the market. After recovering back into the greed territory back in March, it had plunged quite fast in April. For the past week, the Fear & Greed Index has mainly fluctuated between the fear and extreme fear territory. Crypto market at $1.77 trillion cap | Source: Crypto Total Market Cap on TradingView.com This negative sentiment among investors has translated into the lower prices that have been recorded in the market. Digital assets all across the space had dumped spectacularly during this time with no sign of a recovery in sight. Related Reading | Institutional Investors Bearish On Bitcoin, Ethereum. Here’s What They’re Buying However, this does not mean that the digital assets are doomed for the short term. The month of May is historically a bullish month for the crypto market and if it stays true to form, then a large recovery in the price of bitcoin could see the prices of assets in the Small Cap Index rise very quickly. Featured image from Yahoo!, charts from Arcane Research and TradingView.com

PRESS RELEASE. LD Capital has officially established LD Research which aims to conduct industry focus research, cutting-edge technology exploration, and project economic system design. LD Research will recruit development engineers, economists, and other professionals in verticals to work closely with the top team to provide economic model design, development technical support, market growth, and other […]