Category: Cryptocurrency News

NFT activity is an important element in the Ethereum blockchain, accounting for most network transfers. Demand for Bitcoin in the Ethereum ecosystem has decreased dramatically since the beginning of the year. The surge in demand for NFTs and DeFi applications is helping Ethereum supporters to muffle the noise of Bitcoin maximalists who have long insisted that only the original cryptocurrency mattered most. Since the creation of the Ethereum blockchain, the case for Ether eclipsing Bitcoin has been a recurring subject in crypto. Bitcoin maximalists claim that it is still the ultimate type of digital money, stressing that the first cryptocurrency has a valuation of about $810 billion, which is more than twice Ether’s $310 billion. NFT Activity Vs DeFi’s The crypto market is diverse. Under the domain of blockchain technology are two popular applications: NFT and DeFi. Both applications provide huge opportunities in the crypto market. NFTs offer a value proposition while DeFi delivers a platform for financial services and transactions. The engagement in both has risen sharply. The primary distinction between NFT and DeFi is that NFT refers to individual digital assets, whereas DeFi refers to the internet-based financial system. NFT holds a unit of data that is unique and non-interchangeable, whereas DeFi runs on smart contracts on blockchain on its platform and eliminates intermediaries. Total crypto market cap at $1.691 trillion in the daily chart | Source: TradingView.com Related Article | Jam City to Drop Champions: Ascension NFTs This Week, Announces Price and Holder Perks NFTs Boost ETH Market Despite the broad slump in the crypto market, non-fungible tokens have been trading at all-time highs in recent months. Furthermore, starting July 2021, NFT network transfers have overtaken Stablecoins and all ERC-20 tokens. NFT adoption began to accelerate near the end of last year, with platforms such as OpenSea, the leading NFT marketplace, experiencing record trade volumes. LooksRare, which debuted on Ethereum in early January, had more than $2 billion in trade activity in its first 30 days. The Ethereum community has taken up that role to a much greater extent, and that type of blockchain development is currently experiencing a bullish phase in cryptocurrencies. NFT Seen Climbing Higher Many observers predicted that Ether would continue to rise as the demand for NFT rises. Market data suggests that the market will rise exponentially in the coming months. In 2017, the Ethereum blockchain of smart contracts served as the foundation for DeFi. Maker DAO was the first well-known DeFi platform. DeFi is thought to account for two-thirds of the cryptocurrency market. The increasing interest in the DeFi platform resulted in an increase in Ethereum developers and a decrease in Bitcoin developers. Related Article | Leading Blockchain XDC Network Signs Partnership With D.C. United for NFT Marketplace Ethereum Beats Bitcoin Meanwhile, according to latest data, Ethereum has surpassed Bitcoin in two metrics: On-chain transactions and transaction fees produced. These are two significant indicators since they represent the increased and widespread use of Ethereum in the cryptocurrency sector. Ethereum is also gaining ground in other indicators, such as active addresses on each blockchain and aggregated trade volume on exchanges. Featured image from Coingape, chart from TradingView.com

Social media seems on the brink of a transformation. Major platforms began integrating with digital assets in the form of NFTs and crypto payments. Twitter, formerly led by Bitcoin bull Jack Dorsey, appears ahead of a race that for many started years ago. Big tech is just catching up. Twitter recently allowed its users to use their NFTs as profile pic with a new feature part of their Twitter Blue initiative. Facebook, Instagram, Reddit, and other social media platforms could soon follow in the footsteps of Twitter and integrate NFTs into their platforms. The sector has seen unprecedented growth with 2022 aligned to be yet another year of adoption of high demand for these digital assets. A report from Reuters records that NFT sales scored an impressive total of $25 billion last year alone which represents a 26,000% increase compared to 2020. The sector has been attracting attention from retail and institutional investors due to its potential to completely transform multiple industries, such as entertainment, sports, gaming, clothing and fashion, and others. NFTs could disrupt industries with billions of dollars in value. In 2022, the sector is expected to reach $80 billion in total sales driven by the growing interest, demand, and inherent scarcity. Its implementation on social media platforms with billions of monthly active users will only contribute to these digital assets’ upward trajectory. Before big tech entered this race, there was Novatar, a project created to meet the demand for NFTs. This collection aim at making a place for itself in the sector by offering its owners an innovative and high-tech approach. The Novatars Collection And Its Unique Features, Creating A Digital Identity The Novatar collection was designed to be the first that combines the appeal of these digital assets with the digital identity use case. The Novatars collection is comprised of 25,000 baby avatars with a set of technologically advanced features. In that sense, Novatars was designed to renovate the way users interact with their NFTs by embracing the variety of human life. The baby avatars have a unique mechanism that lets them age via a process supported by the blockchain. The NFTs on this collection have different traits, facial expressions, and other characteristics granted by their “genes”, a feature that complements its aging mechanism. These genes determined Novatar’s hairstyle, eye color, race, sexual orientation, clothing, and other traits. Automatically generated by Artificial Intelligence (AI), the Novatars collection celebrates diversity and attempts to emulate the full span of a human life cycle on the blockchain. The aging mechanism can be activated a month after the NFT was minted solely by its owner. Users can choose to keep their NFTs in their baby form or activate the process that will irreversibly turn them into adults. Once they grow, the Novatars will add more genes to their basic gene pool and will gain new traits. What Next For The Novatar Project In order to become one of the first investors to own one of the 25,000 Novatar NFT, the project will conduct a sale next February 27th, 2022. Interest users need to link their crypto wallets via browser and input a valid email address. By completing this process, the user will be added to a Wishlist and will have 15-minute early access to acquire one of 10,000 Novatars available for 0.1 ETH. After this event, the items on the collection will be offered with a Dutch Auction for a limited number of NFTs. After the pre-sale, the team behind the Novatar project will be focused on developing the collection. As of now, the smart contract that supports the project has been released and users can verify for themselves the immense potential of this collection and why it is poised to become a leader in the sector.  

BTC is etching daily higher lows and altcoins are holding on to their recent gains, suggesting that a market bottom could be in place.

Crypto markets appeared to have temporarily shaken off recent volatility, with AMP once again leading the day’s bulls. Terra’s LUNA also surged, climbing by as much as 20% during Friday’s trading session. AMP AMP is currently trading over 24% higher in today’s session, climbing to its highest level since last Saturday. Friday’s rally in AMP […]

1Password joined forces with Phantom on a security endeavor, StarkNet rolled out its first set of DApps, and Celcius deployed an institutional Wrapped Ether pool on Maple Finance — all coming to you in this week’s Finance Redefined.

So this sub has suddenly be flooded by posts claiming that all the financial issues going on in Ukraine at the moment would be solved if people had their money in crypto and not in fiat stored in banks. As correct as people can be with that statement, please DO NOT use this crisis which…
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Many companies are jumping on fhe 'let's help Ukrainians' bandwagon, but not because they actually give a fuck. Rather, they're seizing the PR initiative to offer 'Free calls and SMS' (EE, Vodafone). WhatsApp anyone? FTX is no different and the free PR they've been receiving for this apparently magnanimous gesture is unjustified. FTX have a…
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With the conflict between Russia and Ukraine, many observers are curious about the large quantity of hashrate located in Russia, as the region reportedly controls the third-largest sum of SHA256 hashpower worldwide. Furthermore, on February 24, the ethereum mining operation Flexpool announced it has halted services to Russia entirely. “We apologize to our Russian miners; […]

Roger Bartlett is the latest in a line of Wall Street executives who have moved into the blockchain and crypto space.