STOCKS TELEGRAPH

Category: Crypto News

  • Crypto News & Market Sentiment

    Crypto News & Market Sentiment

    The crypto market seems to be moving fully towards the road to recovery, as US economic data on inflation proved to be better than expected. In anticipation of these results, the market had been seeing an increase in bullish activity throughout the week, after which BTC surpassed $18,200 for the first time in a full month. Although the gain in the last 5 days stands at merely 4%, it is a much-awaited step in the right direction for the wider crypto market.

    Highlights of the week

    The latest US inflation report demonstrated a 7.1% rise in consumer prices, which was considerably lower than the October figures of 7.6%. This slowing in inflation had seen a positive reaction from across the financial markets, with stocks booming, and the likelihood of the Fed’s aggressive interest rate policy approaching a close. In these bearish conditions, BTC skyrocketed to above $18,000, and ETH to has been trading at a 5-week high.

    Officials from the Russian Energy Department announced the initiation of crackdowns against crypto-miners in residential areas. The action will be targeting those individuals that are employing subsidized electricity for residential purposes, in order to mine various cryptocurrencies. The officials further emphasized that miners would be charged with the commercial, rather than the subsidized cost of energy.

    According to the Argentine Central Bank, mobile payments are fast becoming the standard norm of payments, overtaking its more traditional competitors such as credit and debit cards. Statistics show that a staggering 60% of payments in the country were conducted via mobile payment platforms, and thus represent a ripe opportunity for crypto payment adoption.

    The disgraced former CEO of FTX, Sam Bankman-Fried appeared in front of a Bahamian judge, with his lawyer requesting bail. The bail eventually saw denied, with SBF sent to prison until February, of the next year. The proceedings are on the radar of all stakeholders of cryptocurrency, given the implications it holds for the rules and regulations that will emerge, determining the future of the industry.

    In his congregational hearing, finance guru and Shark Tank star, Kevin O’Leary did not hold back, and went after Binance, blaming them for the FTX fiasco. He stated that Binance continuously chose to not comply with the regulator’s requests, which eventually led to the conditions that put FTX out of business.

    Crypto fear & greed index

    The crypto fear & greed index, for the fourth consecutive day, has been demonstrating gradual improvement in market sentiment. The index returns a figure of 31, which although well within the fear zone, is the highest it has been throughout the prior five weeks. This positive sentiment likely stems from positive data from the US economic report, which has always had bearing on the direction the crypto-market takes.

    With the market changing gears to a more bullish stance on cryptocurrencies, a recovery with Bitcoin and Ethereum may be due. The price movements of these top crypto-names, as well as overall market volume, would be metrics that are closely under watch.

  • Crypto ATH and Top Movers

    Crypto ATH and Top Movers

    Given the shift in market sentiment, as well as increased bullish activity, a number of names in the crypto-sphere have been seeing skyrocketing prices. Some have gained to such an extent, such that they have broken all prior records, and achieved all-time highs (ATH). At the time of writing this newsletter, the following names stand as being the top ATH players.

    ASAN VERSE (ASAN) was the most recent ATH winner, given its staggering takeoff, which took it to $0.0001104, earlier today. It has been on a gradual upward curve for the last ten days since it was at a low of $0.000082. This hype surrounding ASAN comes from its listing on DigiFinex, two weeks ago, and all the persistent promotion surrounding the event.

    ATH coins

    Elan

    Elan has remained largely uneventful throughout the month of November, hardly ever venturing beyond the $1.37 price. It began a gradual upward climb with the onset of December, taking it to $2.49, and then a massive price explosion in the last two days, taking it to its ATH of $5.32. This heightened interest comes after recent milestone achievements such as a worldwide patent application and the announcement of crucial partnerships.

    Fileshare Platform

    Fileshare Platform (FPC) has been seeing violent jerks in price throughout the prior month. In the last two weeks, however, its crypto price trajectory began showing a distinct upward climb, that has been taking it to new heights every day. Most recently, it raised the bar once again, taking its all-time high price to $1.72. It must be pointed out, however, that this climb comes despite any announcements about the project being released, which raises concerns about the sustainability of such a rise.

    Football Fan App

    Football Fan App (FNC) has been seeing a gradual incline in its price trend throughout the prior month, as the FIFA world cup has been progressing in Qatar. This gradual climb picked up pace in recent days, as football fever began gaining heat, with teams entering the knockout round. With France winning the semi-final against Morocco, the FNC price exploded, making it to an all-time high of $0.01157.

    Krypton DAO

    Krypton DAO (KRD), which has been in the trade since September, has been taking on an explosive price climb in recent weeks. It has not only managed to successfully sustain these epic gains but has continuously been pushing upwards too. Today it set a new ATH point by touching $1.32, a feat never achieved before. The Krypton DAO has several crypto milestone points scheduled for the upcoming weeks, which explains the growing hype surrounding it.

    Top Movers (24H)

    With bearish sentiment permeating across the market, another area where winners have been observed, in addition to ATH coins, is that of top movers. These represent those cryptocurrencies that have taken on massive climbs in price, during the last 24 hours. At the time of writing this newsletter, the top movers of the prior day are as follows:

    Strong

    Strong was the top winner of the day, considering its price rise from $4.70 to a whopping $11.60. With its trade volume at almost $4 million, which is the highest it has been today, it is evident that STRONG’s price is far from stable at present. In fact, in the last 24 hours, the cryptocurrency has seen its trade volume balloon by 1900%. This hype surrounding STRONG comes after its announced partnership with Fantom Foundation.

    YFDAI.FINANCE

    YFDAI.FINANCE saw an incredible climb during the day which took it from $52.31 to a high of $213.90. At its peak during the day, this crypto growth translated to a gain of an incredible 309%. However, as the day progressed, and the bears and the bulls continued to battle it out, these gains had leveled at 134%, bringing YFDAI.FINANCE at a stable price of $122.50. The cryptocurrency presently holds a trading volume exceeding $21 million.

    MobileCoin

    MobileCoin is also a highly noteworthy crypto name on today’s list, not necessarily due to the gain it acquired, but primarily because of its trade volume of over $60 million. At one point, MOB saw a continuous price take-off from $0.91 to $1.36, putting its rise on that point at over 49%. However, the trajectory took a more stable route throughout the day, unable to sustain the peak it had achieved. By the end of the day, MOB net gains stand at 32%.

    Christmas Doge

    Christmas Doge is another clear crypto winner from today, considering that it successfully doubled its price from $0.000010 to $0.000022, all within 24 hours. In fact, earlier during the day, XDOGE hit $0.000118, at which point its net gains amounted to 1080%. The project has just begun its journey in the secondary market, given its launch this week, and has gotten off to a hot start.

    Unicly

    Unicly (UNIC) today made it from $4.99 to an impressive high of $7.56, translating to crypto gains of almost 52%. The project has been seeing growing interest surrounding it which is evident from the rise in its trade volume, which went up from $600,000 to over $1.6 million, in 24 hours. Today’s price rise for UNIC reflects its highest gain enjoyed in over an entire month

  • The Rise of NFTs: Opportunities, Challenges and Future Prospects

    The Rise of NFTs: Opportunities, Challenges and Future Prospects

    If you’ve been keeping an eye on the ever-evolving developments in digital assets, you’ve probably heard about the buzz surrounding Non-Fungible Tokens (NFTs).

    Today, we dive into why understanding what are NFT tokens is crucial for savvy investors like you, exploring the exciting opportunities they offer and the potential rewards they can bring to your investment portfolio.

    By understanding what are NFT tokens you can tap into some groundbreaking opportunities within a space that is reshaping the way we perceive and value art, collectibles, and even real estate.

    What Is a Non-Fungible Token (NFT)?

    So, let’s jump right into it: exactly what are NFT tokens? Well, let’s imagine you’re strolling through a virtual art gallery. You stumble upon a stunning digital artwork—let’s say it’s a mesmerizing painting of a cosmic landscape.

    What Is a Non-Fungible Token (NFT)

    Now, here’s the interesting part: while you can easily save a copy of the image on your computer or smartphone, what makes this artwork unique is its non-fungible nature.

    “NFT” stands for “Non-Fungible Token.” “Non-fungible” might sound like a mouthful, but it simply means something that cannot be exchanged on a one-to-one basis, like a traditional currency. In other words, it’s one-of-a-kind and cannot be replicated exactly.

    Think of it like owning an original Picasso painting. Sure, you could buy a print of the painting and hang it on your wall, but it wouldn’t possess the same value as the actual masterpiece itself.

    That’s the essence of an NFT—it’s a digital certificate of ownership that proves you have the original, unique version of a digital asset, through the power of blockchain, whether it’s artwork, music, videos, digital real estate, or even tweets.

    History of Non-Fungible Tokens (NFTs)

    When we discuss what are NFT tokens, it’s important to understand their roots and how they have evolved over time.

    It all started in May 2014, when Kevin McCoy and Anil Dash introduced “Quantum,” the first-known NFT.

    Jennifer, McCoy’s wife, created a video clip that she registered on the Namecoin blockchain and subsequently sold to Dash for just $4.

    This groundbreaking idea established a connection between a non-fungible, exchangeable blockchain token and an artwork.

    Fast forward to October 2015, when Etheria, the first NFT project, was launched at Ethereum’s developer conference. However, it wasn’t until 2021 that NFTs gained widespread attention.

    The release of CryptoKitties, an online game where people could trade adorable digital cats, brought NFTs into the limelight.

    The NFT market saw tremendous growth in 2020, with its value tripling to $250 million. In the first three months of 2021 alone, over $200 million was spent on NFTs.

    High-profile sales and art auctions further fueled the frenzy around these unique digital assets.

    While the market experienced a decline in 2022, it’s important to remember that markets fluctuate.

    NFTs are still a new and evolving phenomenon, and their future prospects are influenced by various factors.

    What Does Non-Fungible Mean?

    So, what exactly does the term “non-fungible” mean when we talk about NFTs? Well, let’s break this down in order to gain clarity in our discussion about what are NFT tokens.

    What Does Non-Fungible Mean

    In essence, “non-fungible” refers to the unique nature of something, implying that it cannot be swapped for or replaced by anything else.

    Think of it like this: if you have a Bitcoin and you trade it for another Bitcoin, you essentially have the same thing.

    That’s because bitcoins are fungible. They are interchangeable units of currency, just like dollar bills.

    But when it comes to non-fungible tokens, it’s a different story. Let’s imagine you have a one-of-a-kind piece of art, like the Mona List portrait.

    That card is non-fungible because it has unique qualities that set it apart from any other painting.

    If you were to trade the Mona Lisa for a different portrait, you wouldn’t just be exchanging one painting for another; you would be getting an entirely different piece of art with its own distinct value and characteristics.

    That’s the beauty of non-fungible tokens. Each NFT is like a digital certificate of ownership, confirming the authenticity and uniqueness of a particular asset, whether it’s digital artwork, music, virtual real estate, or even collectibles.

    They enable artists, creators, and investors to embrace the concept of scarcity and establish value in a digital world.

    What is NFT Used For?

    Any discussion that attempts to answer the question of what are NFT tokens would essentially be incomplete without dabbling into the use case of these digital assets.

    NFTs, or non-fungible tokens, have taken the digital world by storm, offering endless opportunities and a few challenges along the way.

    They have revolutionized industries and created new avenues for expression and investment.

    NFTs are used everywhere, from the vibrant realm of digital art, where artists can directly sell their unique creations to collectors, to the dynamic world of gaming, where players can trade in-game items and virtual assets,

    But NFTs don’t stop there—they have also made their mark in music, sports, virtual fashion, and even digital identity verification.

    The use cases are boundless in a dynamic space that continues to evolve every single day.

    Examples of NFTs

    In the NFT space, the possibilities are as diverse as they are exciting.

    Examples of NFTs

    In this section, let’s delve into some noteworthy NFT examples that have taken so many creative industries by storm. These examples highlight the best non fungible tokens NFT opportunities:

    • Photography

      NFTs have given photographers a whole new way to showcase and sell their stunning digital images.

      Now, you can own a limited-edition piece of photographic art and proudly display it in your digital collection, knowing it’s an authentic and unique creation.

    • Sports

      Sports fans, get ready to take your fandom to the next level! With some NFT examples, you can own digital collectibles that capture legendary sports moments.

      Imagine owning a virtual trading card featuring your favorite player’s epic strike or game-winning goal—it’s in many ways similar to being a part of the action in a whole new way.

    • Trading Cards

      Remember collecting trading cards back in the day? Well, NFTs have given this classic hobby a digital makeover.

      Now, you can buy, sell, and trade digital cards with verifiable authenticity.

      It’s simply a next-gen way of having a virtual binder filled with rare and valuable cards – except now it’s all stored digitally rather than physically through various NFT examples.

    • Utility

      NFTs aren’t just for art and collectibles – they have real-world utility too. Several NFT examples exist with a utilitarian nature.

      From virtual land ownership in immersive gaming worlds to exclusive access passes for events, NFTs unlock exciting experiences and perks that make you feel like a VIP in the digital realm.

    • Virtual Worlds

      Step into a whole new reality with NFTs and virtual worlds. You can buy and sell virtual assets like land, avatars, and in-game items, creating your own digital kingdom and immersing yourself in endless adventures.

      The only constraints on what is possible in this exciting space are dictated solely by your imagination.

    • Art

      NFTs have revolutionized the art scene, making it easier than ever to discover and own unique digital artworks.

      Whether it’s a mesmerizing digital painting or a mind-bending 3D sculpture, collecting digital art through NFTs allows you to support talented artists and curate a personal gallery that reflects your taste and style.

    • Collectibles

      NFTs have also turned collecting into a digital treasure hunt. You can now hunt for and own digital collectibles that range from virtual pets and characters to rare and valuable items.

      Thanks to the power of NFTs, anyone can build their own personal museum, filled with digital treasures that hold both sentimental and monetary value.

    • Domain Names

      Did you ever dream of owning a premium domain name? Well, NFTs have made that dream a reality.

      Now you can buy and sell digital addresses with ease, giving your online presence a unique and memorable identity that stands out in the vast digital landscape.

    • Music

      NFTs are changing the game for musicians. Artists can release exclusive tracks, albums, and experiences as digital collectibles, giving you a chance to own a piece of music history.

      Imagine owning a digital album that comes with backstage passes and special perks. NFTs make it possible to have a front-row seat to the creative process.

    Benefits of Non-Fungible Tokens

    Now that we have thoroughly gone over what are NFT tokens, let’s dive into the benefits of NFT tokens investors face by investing in these digital assets.

    The rise of NFTs has opened up a world of possibilities for investors, combining many of the benefits of NFT tokens. Some of these are discussed below, as follows:

    • Unique Ownership

      NFTs grant you exclusive ownership of digital assets, making you the proud custodian of a one-of-a-kind piece.

      You would essentially own a rare gem that stands out in the digital realm.

    • Digital Asset Potential

      With NFTs, you can venture beyond traditional investments and explore the vast landscape of digital assets.

      From captivating artwork to virtual real estate, the possibilities are boundless, offering a fresh perspective on asset diversification while also being a potential hedge against inflation.

    • Market Potential

      The NFT market has witnessed remarkable growth, attracting artists, collectors, and enthusiasts.

      By investing in NFTs, you position yourself at the forefront of a burgeoning market, poised for potential value appreciation.

    • Royalties and Resale Potential

      Smart contracts embedded in many NFTs empower creators to earn royalties even from secondary sales.

      So, when you invest in an NFT and it changes hands in the future, the original artist might still receive a slice of the pie, making it a win-win for both creators and investors.

    • Transparency and Authenticity

      Blockchain technology lies at the heart of NFTs, ensuring transparency and trust.

      This means you can rest assured knowing that the authenticity and origin of your digital asset are securely recorded, mitigating the risk of counterfeit or fraudulent items.

    • Accessibility and Fractional Ownership

      NFTs bring accessibility to high-value assets. Through fractional ownership, even with limited capital, you can partake in the ownership of assets that would otherwise be out of reach.

    • Community Engagement

      The NFT space thrives on vibrant communities of creators, collectors, and enthusiasts.

      By investing in NFTs, you not only gain financial potential but also opportunities for networking, collaboration, and meaningful engagement with like-minded individuals who share your passion.

    • Cultural Significance

      NFTs hold the power to reshape the way we value and appreciate digital art, music, and cultural artifacts.

      As an investor in NFTs, you play a crucial role in supporting artists and creators, acknowledging their talent, and contributing to the preservation of cultural heritage in the digital age.

    How Can I Buy NFTs?

    Now that you know a thing or two about what are NFT tokens you are ready to dive into this innovative market and explore the opportunities it holds.

    So, let’s walk through the process of buying NFTs step by step:

    • Open A Crypto Exchange Account

      To get started, you’ll need to create an account on a reliable crypto exchange platform. There are several popular exchanges out there, like Coinbase, Binance, and Kraken.

      Take a moment to research and select the exchange that suits your needs in terms of security, user-friendliness, and available features.

    • Open A Crypto Wallet

      Now, let’s talk about wallets—the digital equivalent of your personal vault. Set up a wallet, whether it’s a web-based one or a hardware wallet like Ledger or Trezor.

      Think of it as your digital safe space for storing your precious NFTs.

    • Transfer Ethereum into A Crypto Wallet

      To buy NFTs, you’ll need some Ethereum (ETH), the primary cryptocurrency in this realm.

      Head back to your crypto exchange account, locate your Ethereum wallet, and initiate a transfer to your newly created crypto wallet.

    • Buy NFTs

      Now, the fun part—buying NFTs! Explore different categories, browse through collections, and let your imagination roam freely.

      When you spot an NFT that speaks to you, click on it to learn more.

      Verify its authenticity and check if the price feels right. If it resonates with you, connect your wallet to the marketplace and finalize the purchase

    Are NFTs Safe?

    Now let’s tackle the question on everyone’s mind: Are NFTs a safe investment?

    Are NFTs Safe

    The NFT market is notorious for its wild price swings. Just like a rollercoaster, the value of NFTs can go up and down in the blink of an eye.

    This volatility means you need to be prepared for sudden changes in your investment.

    Another risk to be aware of is the potential for scams and fraud. Since NFTs exist solely on the blockchain, it can be tough to verify their authenticity.

    The market is still like the Wild West of the crypto world, with few regulations by the SEC in place to protect investors.

    Furthermore, with the very nature of NFTs, perception and market inefficiencies play a big role. It becomes highly challenging to gauge and quantify internet hype.

    This makes it far more difficult to value an NFT than a stock valuation.

    Even for those looking to factor out the hype, determining the fair market value of NFTs based on past performance can be tricky, especially when you have to consider the rarity and resale potential of individual items within a collection.

    With its unique and decentralized nature, it’s not as straightforward as watching a line chart for Bitcoin or Dogecoin.

    However, efforts are being made to develop indices to help investors analyze this peculiar market.

    While some may claim that NFTs are a guaranteed ticket to riches, the reality might be a bit different.

    Recent performance indicators, like the Nansen NFT-500 index, show a decline in the market. It’s important to keep this in mind when considering NFTs as an investment option.

    In the end, it’s all about weighing the risks and potential rewards. NFTs can be an exciting and innovative space, but it’s crucial to approach it with caution.

    Do your research, understand the risks involved, and consider consulting with a professional before taking the plunge into the NFT market.

    What Is an NFT Marketplace?

    When it comes to the domain of NFTs, marketplaces play a crucial role in connecting buyers, sellers, and creators.

    In this section, we’ll take a closer look at the different types of NFT marketplaces: open, closed, and proprietary:

    • Open Marketplace

      An open marketplace is a bustling platform, where NFTs from various artists and creators are showcased for sale.

      These marketplaces are open to anyone, allowing artists and collectors from around the world to participate.

      In an open marketplace, you’ll find a diverse range of NFTs, spanning different genres, styles, and themes.

      From digital art and collectibles to virtual real estate and gaming assets, there’s something for everyone.

      It’s a vibrant ecosystem that fosters interaction, discovery, and the exchange of unique digital assets. NFTs are highly liquid under this paradigm.

    • Closed Marketplace

      Unlike open marketplaces, closed marketplaces operate on an invite-only or selective basis.

      They often feature curated collections or exclusive offerings from renowned artists, celebrities, or established brands.

      Closed marketplaces create a sense of exclusivity, catering to a more niche audience seeking unique and high-value NFTs.

      In a closed marketplace, you can expect limited-edition releases, one-of-a-kind collaborations, and a heightened level of curation.

      These marketplaces often prioritize quality, ensuring that the NFTs showcased meet certain standards or align with specific themes.

      Being part of a closed marketplace can give you access to rare and coveted NFTs that hold both financial and cultural significance.

    • Proprietary Marketplace

      A proprietary marketplace is a unique type of NFT platform that is built and operated by a specific company or organization.

      These marketplaces offer a personalized touch, often tailored to the platform’s brand, vision, and community.

      They provide a seamless and cohesive experience, combining features like buying, selling, and interacting within their ecosystem.

      A proprietary marketplace can be an integral part of a larger platform or project, such as a blockchain-based gaming platform or a social media network.

      It aims to provide a dedicated space for users to engage with NFTs within the platform’s ecosystem, fostering a sense of community and shared experiences.

    Examples of NFT marketplaces

    NFT marketplaces represent the diverse opportunities available in the digital asset space.

    Whether you’re an art aficionado, a sports fanatic, or an aspiring creator, they each offer a gateway to explore, trade, and own unique digital assets that resonate with your passions.

    The following are the most popular NFT marketplaces you can turn to:

    • OpenSea

      If you’re eager to immerse yourself in the world of NFTs, OpenSea is an excellent place to start.

      OpenSea is designed with user-friendliness in mind, ensuring that both creators and collectors of all backgrounds can easily navigate and participate in this thriving ecosystem.

    • NBA Top Shot

      For sports enthusiasts and basketball fanatics, NBA Top Shot brings the excitement of the game to the world of NFTs.

      Here, you can own and trade officially licensed NBA moments, immortalizing jaw-dropping highlights from your favorite players.

      It’s an incredible opportunity to own a piece of basketball history and share in the thrills that make the sport so captivating.

    • Nifty Gateway

      Looking for a marketplace that celebrates the artistry and creativity behind NFTs? Nifty Gateway is your go-to destination.

      With a curated selection of digital artwork, this platform provides a space for both established and emerging artists to showcase and sell their captivating pieces.

      If you’re seeking unique and limited-edition creations, Nifty Gateway has got you covered.

    • Rarible

      Imagine a marketplace that empowers you to become a creator and sell your own digital assets.

      That’s precisely what Rarible offers—a space where anyone can mint and sell their unique NFTs.

      It’s all about putting the power of creation in your hands, allowing you to monetize your talent and engage directly with a community of artists, collectors, and enthusiasts.

      Rarible fosters an environment that nurtures creativity and encourages collaboration.

    NFT Scams

    As the popularity of NFTs continues to soar, it’s crucial for investors to stay informed and be aware of potential scams in the market.

    In this section, we’ll shed light on a few common types of NFT scams you should be cautious about:

    • Catfishing

      Just like in the world of online dating, catfishing is a concern in the NFT space too. Scammers may create fake profiles or use deceptive tactics to misrepresent the authenticity or value of an NFT.

      So, before diving into a purchase, do your due diligence and verify the legitimacy of the NFT and the seller.

    • Counterfeit NFTs

      With the rise of digital art, counterfeit NFTs have become a pressing issue.

      Fraudsters may attempt to replicate or plagiarize original artwork, claiming it as their own or selling fake copies.

      To protect yourself, it’s wise to verify the credibility and reputation of the artist or creator before investing in their NFT.

    • Pump-and-Dump Schemes

      Unfortunately, the crypto world isn’t immune to pump-and-dump schemes, and NFTs are not an exception.

      In these scenarios, scammers artificially inflate the price of an NFT through aggressive marketing tactics, only to sell it off at its peak, leaving unsuspecting investors with a devalued asset.

      It’s crucial to exercise caution and thoroughly research the NFT and its underlying value before making any investment decisions.

    • Free Mint Scams

      Be wary of offers that sound too good to be true, such as free NFT mints.

      Scammers might entice you with promises of free or extremely cheap NFTs, but in reality, they may be seeking to collect your personal information or gain unauthorized access to your digital wallet.

    Conclusion

    As we conclude our exploration into the rise of NFTs, it becomes abundantly clear that these unique digital assets have opened up a world of new opportunities for investors.

    We have witnessed incredible success stories and groundbreaking sales, showcasing the potential for substantial financial gains.

    However, like any emerging technology, NFTs also present their fair share of challenges and uncertainties.

    While the NFT market continues to evolve and mature, it is important for investors to approach it with a well-informed and balanced perspective.

    As we have discussed, understanding the use cases of NFTs, carefully evaluating the marketplaces, and conducting thorough due diligence are crucial steps in navigating this exciting yet volatile landscape.

    FAQs

    Why Are NFTs Becoming Popular?

    NFTs are gaining popularity due to their ability to authenticate ownership of unique digital assets, providing new opportunities for creators and collectors in the digital realm.

    Are NFTs Cryptocurrency?

    While NFTs utilize blockchain technology like cryptocurrencies, they are distinct as they represent ownership of specific digital assets rather than acting as digital currency.

    What is NFT Digital Art and How Does NFT Art Work?

    NFT digital art refers to artwork that is tokenized as an NFT, providing a verifiable record of ownership and provenance on the blockchain, enabling artists to monetize their creations and collectors to purchase and own unique digital pieces.

  • Crypto Overview & News Stories

    Crypto Overview & News Stories

    All eyes are watching the crypto market this week, as many big banks and analysts state that a shift may be imminent in the coming days. The US economic data is due for release this week, which will shed light on economic policy, and possibly have drastic impacts on the direction of major crypto-players such as Bitcoin and Ethereum. To add to the stakes of this week, the market’s top villain of the day, Sam Bankman-Fried saw the arrest, this morning in the Bahamas, bringing a close to the uncertainty regarding his fate.

    Crypto-Highlights of the week

    Authorities in the Bahamas arrested Sam Bankman-Fried early this morning after reports emerged citing the country’s attorney general. According to various news reports, authorities took in SBF following a formal communique by US law enforcers regarding criminal charges filed, and the initiation of an extradition process.

    As the end of 2022 comes, market analysts have been surveying the crypto-losses of the last 12 months of this fateful year. It was found that the total value locked in defi fell by 83% since last year, with the major blow coming from the FTX collapse.

    BTC price was relatively stable during the past week, with market participants anticipating major change with the release of US inflation reports. If inflation data shows significant improvement, as many are expecting, it would provide a strong basis for the US Fed to reverse its aggressive interest rate policy, giving room for the crypto market to take off once again.

    The world’s largest crypto-exchange, Binance recorded capital outflows exceeding $900 million, surpassing the combined amount of all other exchanges, in the last 24 hours. This panic comes after an increase in scrutiny of the exchange, following an audit report claiming its assets face over-collateralization.

    According to South Korean officials, the former boss of Luna and TerraUSD, and now fugitive, Du Kwon may be living in Serbia. Du Kwon has an Interpol red notice to his name, with authorities around the world on the hunt for him. His arrest could be a big deal across the crypto-markets and act as a milestone toward the capital market

  • Crypto Winners & Losers this Week

    Crypto Winners & Losers this Week

    With the anticipation by many of crypto’s cold winter finally coming to an end, market bulls have been activated, and found to be rallying up the prices of several cryptocurrencies. In wake of this bullish resurgence, a number of crypto-names have achieved tremendous gains over the prior week. At the time of the writing of this newsletter, these top weekly gainers are as follows:

    Crypto

    Top Weekly Gainers

    EarthFund

    EarthFund (1EARTH) stands as a clear winner this week, given its epic rise from $0.0011 to $0.0066, in only seven days. This price trajectory translates to a 500% climb and holds a trading volume of over $10 million. This US-registered project supports greenery and sustainability causes and aims to empower local communities and nature, through the power of blockchain. The appeal of such a project is evident in its sustained rise.

    NetZero

    Another name in the crypto-sphere that has been performing phenomenally this last week has been NetZero (NZERO). The cryptocurrency has more than tripled its price from $0.058 to $0.198, all in merely seven days. The project is a vocal proponent of the proof-of-stake concept for its low energy cost and has been gaining popular support amid rising electricity costs which make mining unfeasible.

    MakiSwap

    MakiSwap (MAKI) is another that proved to be a wild success during the week after it successfully managed to almost quadruple its price. Its price curve saw it start off the week at $0.0014, and explode yesterday to a high of $0.0057. Presently, MAKI is trading at $0.0055, translating to a net weekly gain of 292%. In the last 24 hours, MAKI saw its trade volume surge from less than $100,000 to over $2 million.

    hiDOODLES

    hiDOODLES has also been on a roll lately, delivering hefty triple-digit growth, much to the delight of all its crypto-holders. The cryptocurrency has been on a slow rise for most of the week until its sudden price explosion of over 300%. Over the course of the week, its net gains are presently 163%. It has been enjoying a sudden surge in market hype since its listing on Kucoin.

    Cat

    Holders of CAT experienced a terrific upward climb after its sustained price shoot-up of 155%, over the prior week. This meme token is the newest name in the meme-coin world and is poising to be a worthy competitor to canine-themed coins such as Doge. It’s recent listing on Coin Gecko adds to its overall popularity, and partly explains its recent upward price surge.

    Top Weekly Losers

    With many in the market highly optimistic about the future trajectory of the market, a number of participants have been letting go of their stakes, expecting things to take a downward turn. A number of crypto-assets have seen a hard plummet in recent days. Some of these names are as follows.

    Rubic

    Rubic (RBC) made it to today’s list of top weekly losers, given its price loss from $0.0222 to its present low of $0.0040, all over the span of a single week. Although the damage had been limited throughout the week, it was not until yesterday that RBC plunged hard, losing over 80% of its crypto price in a single day. Its net loss for the whole week presently exceeds 88%.

    CryptoFi

    Another losing name from this week is CryptoFi (CFI), the weekly loss of which is presently over 72%. The cryptocurrency was off to a strong start in the week, which saw it climb from $0.00097 to $0.00284. This impressive rise saw a rapid correction, as the bears got the better of its price trend, resulting in its present price of $0.00025. At present, CFI’s trade volume is stable at over $900,000.

    FunFi

    Following several complaints from its crypto community, FunFi (FNF) saw a hard price sell-off during the week, resulting in a net weekly price loss of over 45%. With little information regarding the development team, and periodic token dumps, many are calling FNF to be a scam, hence the overall sense of skepticism surrounding it.

    ZigZag

    Holders of ZigZag (ZZ) experienced a thrilling roller-coaster ride this week with unpredictable ups and downs dominating its trend. Eventually, however, as crypto volume began climbing to sizeable levels, market bears gained the upper hand, taking ZZ down from $5.32 to merely $0.82. Accounting for this week’s rises and falls, ZigZag has lost 60% in the last seven days.

    Handy

    Handy has shown to have an extremely volatile crypto-price curve over the last seven days, with both its price and volume figures taking unpredictable jumps. The overall direction for the cryptocurrency, however, has been overwhelmingly bearish, after it shed over 65% of its price in merely 7 days.

  • ICO and Airdrop Opportunities

    ICO and Airdrop Opportunities

    Active ICOs

    MTG

    The blockchain service, MTG, is currently having its ICO takes place, and has an additional 8 days to meet its fundraising target. This project essentially introduces burn tokenomics and meme tokens to the highly popular domain of move-to-earn applications.

    Anyone using the MTG service is automatically pooled into a lottery pot, with 1% of every transaction dedicated to the winning fund. 10 lucky wallets are branded winners each week, giving all holders the opportunity to try out their luck on a regular basis, in addition to the existing utility of MTG.

    Immunify.Life

    The ICO for Immunify.Life (IMM) is now active and will continue its offering throughout the month. It has already raised a sum of almost $2.2 million, which is far above its $300,000 target.

    Immunify.Life envisions a revolution to the existing healthcare system, which it seeks to empower by data on the blockchain. The concept is essentially self-sustaining, as well as transformative while being fully functional through AI tools. What is most impressive about the project is its ability to eliminate geopolitical barriers to healthcare, via the use of identification NFTs.

    NFT3

    Another exciting opportunity in the realm of NFTs, which have just become active, is that of NFT3 (ISME), aiming to establish itself as Web3’s first unified virtual identity network. Holding a means to unified identity across each of the layers of Web3 applications ensures a range of benefits, including personal monetization.

    NFT3 is extremely promising, and offers a pathway to the first functional and established web3 world passport. This, using DID capabilities, incorporates the user’s credit scores into one’s virtual identity, all while ensuring the anonymity that is inherent to the blockchain.

    Upcoming ICOs

    5ire ICO

    5ire is an impending ICO that is causing a stir in the market. It is likely to take place in the next couple of days and has already an astonishing $221 million. The project symbolizes the 5th wave of the industrial revolution and thus is enjoying incredible hype throughout the market.

    As a blockchain network, 5ire enables its users to capitalize on web3 systems in an unprecedented manner. Using its technology, members can generate tokens that are both fungible and non-fungible in nature without having to compromise upon process sustainability. The naming service it presents is one-of-a-kind, which, together with its signature functionality, enhances its market favorability.

    Medieval Empires

    Another approaching ICO to keep on one’s radar is that of Medieval Empires (MEE), which has created quite a stir in the cryptocurrency industry. The extreme amount of enthusiasm around it is evident by the fact that it has already generated $3.68 million in token sales, compared to its initial target of merely $300,000, even before the ICO has begun. Owing to this early success, the target for the project was raised up to $4.8 million, which is likely to be crushed upon initiation of the offering.

    Medieval Empires, as the name indicates, is situated in a historical universe where players may create, conquer, and thrive. The opportunities for on-chain gamification are endless, and the physical and digital NFTs inside the ecosystem substantially improve the game’s attractiveness.

    Re:water ICO

    The Re:water (WTR) is yet another that is likely to get the market bulls activated, given the appeal it already enjoys. The project aims to establish, a multi-staking platform that is the first of its kind, enabling its users to work with all forms of decentralized assets and thus combining all economic rewards. These are likely to come from a variety of social gamification mechanics.

    When a user stakes on re:water, they see a charge of a standard melting rate, which in turn will deliver them with WTR and all its liquidity benefits.

    Ended ICOs

    Oasys ICO

    The ICO for Oasys ended with a bang, last week, after managing to successfully raise a whopping sum of $21 million. Part of the success in fundraising comes due to the promise this gaming-oriented public blockchain platform offers to its users.

    The development team comprises of some of the top minds of the Japanese gaming industry and hence comes as a big deal to the market, amid countless hyped-up names selling empty promises. The Oasys architecture enables high-performance gaming with zero gas fees, making it ideal for the future of blockchain gaming.

    Hottest Airdrops

    ZKasino Airdrop       

    1. Enter the ZKasino testnet website.
    2. Sync your Metamask wallet to the platform.
    3. Switch to the Polygon, Arbitrum, zkSync, or Fantom testnet.
    4. Next, select “Request and tweet” to acquire testnet tokens.
    5. Then choose “Mint” to create ZKUSD (ZKasino USD) to use in the games.
    6. Now, go to “Explore games” and start playing various games.
    7. ZKasino announced the creation of its own token, “ZKAS,” and early participants who performed testnet acts may be eligible for an airdrop when the token sees release.

    GoCrypto Airdrop

    1. Go to the GoCrypto giveaway page to enter.
    2. Enter your information and join.
    3. Performing basic activities now earns you entries.
    4. Earn additional entries for each referral as well.
    5. A total of 50 contestants will enter the pool at random to receive $10 in GOC.
    6. On December 19th, the winners will be revealed in their Telegram group and on Twitter.

     Uniswap App Airdrop

    1. Go to the Uniswap app.
    2. Link your Ethereum (ETH) wallet.
    3. If your wallet gains approval following inspection, a “UNI has arrived” notification will appear on your screen.
    4. Click “Claim your tokens” to complete your claim. Remember to set your gas price limit to ‘high’
    5. See this page for more details on this airdrop.
  • Crypto Market Overview & Sentiment

    Crypto Market Overview & Sentiment

    Even after the shocks of the FTX crisis have gradually subsided, the crypto-market as a whole continues to lay low, and remain stagnant within this bearish phase. Calls for bank-like regulations continue to grow ever louder, as a means to bring back confidence to the average market participant. Some of the worst fiascos that hit the industry, such as the FTX liquidity crisis, all stem from a trust-based system, which is completely devoid of regulatory oversight.

    Highlights of the week

    • The CEO of JPMorgan Chase, Jamie Dimon did not hold back this week and went on a tirade of critical remarks regarding the lack of regulation in the crypto industry. He made a comparison of crypto-assets to pet rocks, implying that most cryptocurrencies floating the market are fads with no real value, and seeing a pumping up without a strong basis. He reiterated the potential of blockchain technology and smart contracts.
    • In Kazakhstan, a new piece of legislation was passed this week permitting crypto-mining firms to buy surplus electricity. The market through which these purchases will be conducted is government regulated, and hence hold transparent and often, fixed prices. The law saw passing in the country’s parliament as a means to extend the national regulatory grip on the crypto industry, whilst also ensuring a sound tax collection system for crypto-miners.
    • A Russian business has launched the country’s first permitted digital financial asset (DFA) deal involving a foreign currency, the Chinese yuan. The transaction, which is the largest under the existing Russian DFA law, is worth 58 million yuan and relates to the issuing of tokens backed by commercial debt.
    • In recent days, BTC prices had seen a fall from $17,300 to $16,700 as the US dollar continued to advance in comparison to several G7 currencies. When the dollar becomes stronger, demand for cryptocurrencies falls, with the global market value currently trading in the red. ETH also underwent a fall this week from over $1,300 to below $1,220.
    • BTC market dominance among almost 22,000 different crypto assets, which hold a value of around $850 billion, has been less than 40% for the previous 100 days. Bitcoin domination has been below 40% since August this year, with a short rise beyond the 40% level 52 days ago, in the middle of October.

    Crypto fear & greed index

    Market sentiment throughout the last week has largely been quite stable, with the crypto fear and greed index showing a present figure of 25. The index was close to this zone of extreme fear since the start of December, with a brief rise yesterday to 29, which ultimately was shot during the time it lasted.

    This pessimism surrounding the market seems to rest on the notion of the inherent unsustainability of a system relying upon trust, which saw traders lose their fortunes with fiascos such as the FTX crisis. Many point out that a recovery in the index seems unclear in the short term unless radical changes make their way to the crypto industry as a whole.

  • Crypto ATH Coins and Top Movers (24H)

    Crypto ATH Coins and Top Movers (24H)

    Even though the wider crypto-market as a whole is currently experiencing severe stresses, and market sentiment remains locked in on the extreme fear zone, several names in the crypto-sphere have performed tremendously. Some, in fact, have gone on to set records, by achieving all-time highs in their price. At the time of writing this article, the following cryptocurrencies have set new ATH points in recent days:

    ATH coins

    MyOwnItem

    MyOwnItem (MOI) has been on a slow bearish fall since June of this year, shedding its price from $0.042 to $0.025. Things took a turn for MOI during November when the cryptocurrency changed gears, and took on an incredible upward climb. Since then, each day has seen MOI push up to new heights, and set new ATH records. Most recently, the crypto-asset climbed by a further 9% and set a new benchmark of $0.086.

    Snowflake 

    Snowflake (SNOW) has been in the trade for barely a month and has been raising the bar with each coming week. The bullish rally surrounding this crypto-name has been so consistent such that its all-time low remains its initial price of $0.0039 upon launch into the market. Today, SNOW crossed the $0.0053 mark, indicating that its holders have been seeing their investment grow remarkably, in just a few weeks.

    bitcastle

    bitcastle (CASTLE) has had a volatile journey since its launch into the market in September this year. CASTLE is the official token for the bitcastle exchange, which has been in operation in the Asian markets since 2018. Today, the token surpassed all prior records, and made it to $0.00040, against all odds. Soon after, however, it had fallen to $0.00037.

    CryptoFi 

    CryptoFi (CFI) had its ups and downs throughout November but began an explosive growth trajectory on Sunday. Since then, CFI has climbed from $0.00017 to an all-time high of $0.00284, in less than a week. The fully verifiable blockchain aspect of this project is gaining significant traction in the market, as investors are turning towards trustless systems, in the wake of the FTX contagion.

    Flag Media 

    Flag Media (FLAG) also undertook an epic climb in recent weeks, which saw it take off from $19 to finally crossing the $30 point. This was a significant milestone for the crypto media project. After this high point had been achieved, however, FLAG saw its trade volume collapse by almost 95%, which suggests that the bullish rally may have halted for now.

    Top Movers (24H)

    In addition to crypto-names which have made it to their all-time highs, another category of high-achievers stands in the top movers. A number of cryptocurrencies are currently undergoing phenomenal price rallies, as a result of which their prices have appreciated by significant margins in the last day alone. At the time of writing this article, these top movers are as follows:

    Crypto
    Crypto

    OpenAI ERC

     OpenAI ERC has had a wildly successful day today, as it saw its price almost triple in the last 24 hours alone. During this period, OpenAI climbed from $0.0103 to $0.0302, as crypto-trade volume approached the $1 million point. The craze surrounding this bullish price rally seemingly links to the project’s potential in a widely speculated Twitter integration. Whether or not these rumors are true remains to be seen.

    Mundocrypto

    Mundocrypto (MCT) was also on the top of the crypto-charts today, in terms of price movement, considering that it more than doubled its price from $0.23 to over $0.49. Trade volume has also been consistently high at the $3.5 million mark, suggesting a sustainable trajectory. The core interest surrounding MCT seems to come from market participants based in Latin and South America.

    EarthFund

    EarthFund (1EARTH) stands as the most popular name today, purely on the basis of its daily trade volume, exceeding the $5 million mark. As part of this rally, 1EARTH saw a price jump from $0.014 to $0.026, during the day. However, as the bears and bulls battled it out today, the crypto asset fell to $0.0019, translating to a net gain of 38% during the day. Its backers are eagerly awaiting the weekend when the EarthFund platform will officially go live.

    Amazy

    Amazy (AZY) has also been a favorite today in the market, with its daily trade volume rising high above the $4.8 million point. In the last 24 hours alone, AZY rose from $0.042 to $0.067, translating to a gain of almost 60% in a single day. Most of the bulls supporting this crypto fitness app seem to be Russian investors, who have been increasingly turning towards blockchain following crypto encouragement by top-level state officials.

    Tao Te Ching

    Tao Te Ching (TTC) saw its price rise by 43% and its trade volume rise by a whopping 875%, both in the last 24 hours alone. The project is an interesting one, due to its very low supply, giving it a present price of almost $160, and a market capitalization of less than $800,000. One reason for its price rise, and volume figure of over $1 million may link to news to a possible CEX listing, due to which many hope for a price explosion.

  • NFT News and Opportunities

    NFT News and Opportunities

    According to a Chinese court of law in the city of Hangzhou, NFTs have legally earned the status of virtual properties, within the People Republic’s legal system. This ruling passed in the context of a case involving a disagreement between a consumer and a platform used to sell a group of non-fungible tokens. From a legal point of view, this marks a significant milestone for NFTs within the dynamic and tech-oriented Chinese market. NFT holders may likely act more boldly with the knowledge that their ownership holds recognition with the Chinese legal system.

    According to industry trackers and blockchain market analysts, the FTX contagion has evidently been contained, based on a number of indicators observed. The behavior of the NFT market in particular is a compelling market that suggests this. The largest exhibition in Miami’s art show in 2022, was the marriage between Emir Muhovic and Kelly Daniels, who chose for the event to be minted as NFTs, which includes all photographs, ceremonial vows, and the marriage license. This role of NFTs and blockchain in general in otherwise traditional spaces point to their sustainable potential, despite present market hesitance.

    One domain, in particular, that has been performing exceedingly well on the NFT landscape is the music industry. The music NFT market site, Sound.xyz has seen 100% growth in its number of mintings during the last two months alone. Top names in the music industry such as 3LAU, Steve Aoki, and even Warner Music Group have been going all in on the NFT realm. This appreciation for NFT application for musicians, despite market stresses, highlights that NFTs are clearly here to stay.

    NFTs to Watch

    Kanpai Pandas NFT

    The Kanpai Pandas NFT collection is one that caters to those who have a knack for stylistic fashion, as well as an enthusiasm for parties. The collection thus shows 10,000 unique pandas, each of which is stylistically curated.

    The Kanpai Panda collection infuses real-world utility with virtual application and thus maximizes value for each of its holders. A Kanpai Panda holder would have exclusive access to some of the hottest concerts and parties both physically and virtually. In addition, being a member of the Kanpai Pandas community on its own also allows holders to be part of regular airdrops and giveaways.

    Metaphysics by Jinyao Lin NFT

    Metaphysics by Jinyao Lin goes back to the roots of the NFT vision and is purely an artistic-based project. The 200 items within the collection aim to tap into the unseen but undeniable realities of the life force, in everyday existence and lying in the realm of metaphysics.

    Each of the tokens in this collection is visually captivating, despite portraying an abstract concept. The collection had its launched by the artist, Jinyao Lin, on the Art Blocks site, and has a total volume of more than 130 ETH. Given the appeal the project holds among art enthusiasts, Metaphysics has been the talk of the town in various circles of these spaces.

  • Crypto Weekly News and Overview

    Crypto Weekly News and Overview

    The fire engulfing the crypto-realm remains ablaze. After a brief hopeful glimpse toward a shift in direction, the market came crashing down, with most of 2022 proving to be one of the worst for crypto traders, so far. Bulls continue to become fewer and further apart in the market, making upward price rallies extremely difficult.

    Crypto-Highlights of the week

    The American cryptocurrency exchange, Bitfront, had announced yesterday that it will immediately suspend new sign-ups on its platform, and halt all credit card payments. The exchange further stated that it will cease operations entirely, putting further pressure on the global digital currency markets.

    Following the failure of cryptocurrency exchange FTX, JPMorgan has broken its silence regarding the whole fiasco. It detailed significant changes it anticipates, regarding the regulation of the wider crypto-industry. It discussed the possibility of new regulatory efforts, including those emphasizing custody, customer asset protection, and transparency.

    Russian autocrat, Putin has lately been becoming extremely vocal regarding his beliefs on blockchain-based decentralized finance. He recently stated that in order to lessen reliance on large banks and third parties, a new mechanism for international money transfers is required. He is certain that digital currency and distributed ledger technologies will revolutionize cross-border payments.

    The Nigerian digital asset exchange platform Quidax recently said it has let off employees who made up 20% of its employees as it struggles with the effects of what it called a worldwide economic slowdown. Quidax apparently assured clients that it has no intentions of ceasing operations, and business will continue into the future.

    Eric Adams, the mayor of New York City, voiced his support for the state’s limited restriction on crypto mining, albeit in a covert manner. The bill passed by fellow Democrat and New York Governor Kathy Hochul limits the short-term use of fossil fuels in the production of digital currency. Adams maintained that cryptocurrencies form a crucial part of the wider financial path, and emphasized that the moratorium was temporary in nature.