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Ether is up by 60% year-to-date, but NFTs are falling behind, with a valuation decline of 44.82% YTD.  Bored Ape Yacht Club’s sales volume declined by 99%. Analysts suggest various reasons for the crash of NFTs, including the dearth of NFT production. According to CoinGecko, the price of Ether is up by 60% year-to-date (YTD) as of this writing, benefiting from a market-wide price rally. However, ForkastLabs’ 500 NFT index, which measures the valuation of the top 500 NFTs, reveals that the overall valuation of non-fungible tokens (NFTs) has dropped by approximately 44.82% YTD.  Concurrently, data aggregator CryptoSlam shows a 31% YTD plunge in the NFT sales volume, from $25.90 million to $17.80 million.  Strikingly, the Ethereum-based NFT collection Bored Ape Yacht Club had an average of $53 million in sales volume in 2021. However, this sales performance has dropped by 99% in the past few months, plunging to $523,000 at present. Th...

Only 34% of Canadians still believe that crypto “will play a key role in the future,” though the number of those able to give a basic definition of digital currencies has risen slightly. The number of crypto hodlers in Canada dropped slightly in 2023, but the average value of their holding s rose significantly. However, 77% of respondents regret investing in crypto assets, according to a survey published by the Ontario Securities Commission (OSC). The OSC published a “Crypto Assets Survey 2023,” on Nov. 29, conducted in partnership with Ipsos at the end of May. The survey interviewed 2360 Canadians, selected to reflect the accurate proportion of the country’s population by gender, age and region. Perhaps due to the period when the research was done, its results reflect a general pessimism toward crypto in the country’s population. While the number of Canadians able to give a basic definition of crypto rose from 51% in 2022 to 54% in 2023, only 34% of them now believe that crypto “wil...

Speaking at the 2023 DealBook Summit in New York on Wednesday, Billionaire owner of X Elon Musk shared rather explicit words to advertisers who he claims are trying to blackmail him. In his speech, Musk addressed the advertisers looking to boycott the X platform, saying “if somebody’s gonna try to blackmail me with advertising? Blackmail me with money? Go f—yourself.” He added, “Don’t advertise.” Source: Siasat.com Some advertisers have begun boycotting the platform because of because of antisemitic posts shared on it. Elon Musk also implied that fans of his, and of X, would boycott those advertisers in return. In conversation with interviewer Andrew Ross Sorkin, Musk said “I have no problem being hated. Hate away.” Recently, Musk has promoted and sometimes verbally endorsed what the White House called “antisemitic and racist hate” on X, formerly Twitter . Musk has been vocal about supporting free speech, despite some instances of it being labeled as “hate ...

The head of Singapore’s central bank doesn’t think crypto has a future in financial services. Ravi Menon, the managing director of the Monetary Authority of Singapore (MAS), said in a speech earlier this month that cryptocurrencies have “failed the test of digital money.” “They have performed poorly as a medium of exchange or store of value. Their prices are subject to sharp speculative swings. Many investors in cryptocurrencies have suffered significant losses.” During a panel discussion this week, Menon says he thinks crypto assets “will eventually leave the scene,” according to a Bloomberg report. “Nobody keeps their life savings in these things. People buy and sell these things to make a quick buck.” The central bank official predicts that the future monetary system will be comprised of central bank digital currencies (CBDCs), tokenized bank liabilities and regulated stablecoins. Menon, who’s reti...

Huddle01 CEO Ayush Ranjan tells The Agenda podcast why centralized communications technology is unreliable and requires a decentralized alternative. The means by which humans communicate and coordinate are ever-evolving. People went from sending smoke signals and messengers on horseback to sending letters and telegrams, and since the dawn of the digital era, the pace of innovation has exploded. Today, hundreds or even thousands of people from around the world can gather in a Twitter Space or Zoom call and communicate in practically real-time. But people still primarily communicate via central ized platforms that retain and monetize user data, suffer from outages, have the power to censor speech, and face problems such as severe lag. So, what would a de central ized Web3 version of a communications and meeting platform like Zoom or Google Meet look like? To find out, Jonathan DeYoung and Ray Salmond sat down with Ayush Ranjan, co-founder and CEO of Huddle01 — a Web3 meetings and commu...

Shiba Inu has removed over 260 million tokens in the past 24 hours. PEPE Coin’s market cap approaches $500 million. Memeinator’s MMTR token presale gains traction, featuring regular price increases. There have been significant developments in the world of meme coins with Shiba Inu (SHIB) witnessing a remarkable surge in burn rate, PEPE Market Cap approaching $500 million, and Memeinator’s MMTR token gaining momentum during its presale. In this article, we delve into the latest occurrences surrounding Shiba Inu (SHIB), PEPE Coin, and the Memeinator (MMTR) token . SHIB burn rate skyrockets by 20,000% The Shiba Inu (SHIB) community is abuzz with the recent surge in token burn rate. According to data on the Shibburn website, SHIB’s burn rate skyrocketed by a staggering 20,000%, resulting in the removal of over 260 million token s in the past 24 hours. This record-breaking burn rate, unseen in the last two months, underscores the commit...

Experts said the SEC could be laying blocks ahead of spot Bitcoin ETF approvals in early January 2024 following early delayed decisions on bids from two potential issuers. The U.S. Securities and Exchange Commission (SEC) delayed its decision to approve or disapprove spot Bitcoin ETF applications submitted by trillion-dollar asset manager Franklin Templeton and crypto-native firm Hashdex.   Per Nov. 28 filings, the SEC is seeking new commentary for its review of these Bitcoin ETF punts. The news came after America’s securities watchdog disclosed its plan to extend the period for public input back in mid-November 2023.   A decision on both filings was due Jan. 1, 2024, meaning that the SEC published its delay order weeks before the deadline.  You might also like: Grayscale updates spot Bitcoin ETF application after meeting with SEC ETF expert James Seyffart said this early update could be an indicator that the SEC is synchronizing applications ahead of ...

The Financial Stability Board has released a report highlighting the need for additional regulations in the crypto industry, particularly in the wake of the FTX collapse , to mitigate risks similar to those in traditional finance. The Financial Stability Board (FSB), a pivotal global financial watchdog, has recently spotlighted the need for heightened regulatory oversight in the cryptocurrency sector. This call for action, highlighted in their report released on Nov. 28, gains relevance in the aftermath of the FTX fiasco, a debacle that rattled the core of the crypto world. The FSB’s analysis pinpoints a vulnerability within multifunction crypto-asset intermediaries (MCIs). These platforms, which blend trading and related activities, mirror traditional financial vulnerabilities such as leverage risks, liquidity mismatches and operational failures. Multifunction crypto-asset intermediaries (MCIs) are a critical component of the #cryptoasset ecosystem as their business models ...

Luna Classic Labs denied the rumor that it had bought USTC worth $500,000 LUNC fell by 23.51% while USTC’s price plunged from the $0.071 weekly high. LUNC may drop to $0.000068, and USTC might no longer reclaim the $1 peg. After initially making double-digit increases on November 27, the prices of Terra Classic (LUNC) and Terra Classic USD (USTC) have tumbled. At press time, USTC, which is the algorithmic version of the now-collapsed TerraUSD (UST) stablecoin, plunged by 42.97% in the last 24 hours. LUNC, like its sister cryptocurrency, fell by 23.51%, according to press time information from CoinMarketCap. Previously, Coin Edtion had reported how LUNC surged to a 90-day high as the Terra team moved toward stabilizing LUNC’s and USTC’s liquidity. It’s a Pump and Dump As a result, USTC produced an incredible 192.17% seven-day hike in price. However, there were other developments related to the price increase of both cryptocurrencies. First, Binance ann...

Oggy Inu rose 40% in 24 hours. Nugget Rush, a P2E memecoin and Pepe’s alternative, raised $600,000 in the ongoing presale. According to experts, NUGX prices may rally Oggy Inu (OGGY) rose 40% in 24 hours. Nugget Rush (NUGX), an alternative to Pepe (PEPE), has also garnered attention by raising $600,000 in the ongoing presale .  Nugget Rush raises $600k in presale Nugget Rush has garnered significant attention, raising over $600,000 during its second presale round.  Unlike many memecoins, such as Oggy Inu and PepeCoin, Nugget Rush has real-world applications, ensuring its value is not solely driven by speculation or hype.  Nugget Rush integrates play-to-earn (P2E) and GameFi elements. This game immerses players in a gold mining adventure, incorporating crypto and NFTs.  You might also like: Weekly brief: supporters of NuggetRush, Solana, and Arbitrum bullish Players can also earn tangible in-game assets, adding value to their playing experience. ...

Cosmos (ATOM) founder Jae Kwon is forking the interoperable blockchain following a successful governance proposal to put a 10% cap on ATOM inflation. Proposal 848, which was largely based on the idea that ATOM is overpaying for its security, brought down inflation from roughly 14% to 10%, and also lowered staking rewards. However, Kwon didn’t agree with the proposal, which only narrowly passed, prompting the idea for a new fork called AtomOne. Says Kwon, “Despite our voting against the plan… 848 has ended up passing, something that isn’t too surprising (though it would be good to know whether the later votes came from newly purchased ATOMs). Now let’s coordinate a split.” In a new GitHub document published by Kwon, the crypto founder says AtomOne aims to mend the divide in the Cosmos community by providing an alternative to the current governance architecture. “The Cosmos community, at a crossroads, confronts divergent views...

Bluntz, an anonymous analyst, suggests that Solana (SOL) may reach a new high after completing an ABC correction and maintaining support.  Another analyst, Kaleo, anticipates a potential rally for Shiba Inu (SHIB).  Everlodge (ELDG) is also gaining attention for its potential to disrupt the $4.548 trillion hospitality industry. Summary Solana may surge to $84.91 by Q1, 2024 Shiba Inu can climb to $0.000013 by the start of next year Everlodge could rally after launching Solana can retest $84.91 Bluntz, an analyst with over 229,000 followers, recently noted that Solana completed an ABC correction and maintained support at $51.  i think head and shoulder bro's about to get baited big time on $sol pic.twitter.com/lErD5lnyr6 — Bluntz (@Bluntz_Capital) November 21, 2023 Over the past week, SOL prices rose from $52.21 to $64.16, adding 82.5%. In the past year, Solana has seen a 336.3% increase, currently ranking as the 7th largest by market cap.  Y...

Although the majority of assets in the cryptocurrency sector got off to a slow start this week, Bitcoin (BTC) could be looking at a massive advance toward and beyond the threshold of $47,000 soon, provided it manages to break the key resistance that currently stands in its way. As it happens, Bitcoin’s realized price distribution (URPD) or unspent transactions output (UTXO), or the amount remaining after every transaction, suggests that the maiden cryptocurrency is facing “stiff resistance at $38,500,” as noted by crypto market analyst Ali Martinez in an X post on November 26. Having said that, the crypto trading expert also observed that the flagship decentralized finance (DeFi) asset “slicing through this barrier could help BTC advance toward $47,360,” which is the next significant point in the chart Analysis that Martinez shared. Bitcoin UTCO realized price distribution. Source: Ali Martinez Specifically, UTXO UPRD shows at which prices the current Bitcoin UTXOs appeared, ea...

Paradigm researcher Dan Robinson questioned Blast’s launch scheme, saying the VC firm doesn’t endorse ‘these kinds of tactics.’ Blast, a layer-2 network announced by Blur founder Tieshun Roquerre, is now facing criticism from its own backers after security experts raised concerns surrounding the network model following a rise to over $300 million in total value locked (TVL) in the protocol. There are a lot of components of Blast that I’m excited about and would be interested in engaging with people on. That said, we at Paradigm think the announcement this week crossed lines in both messaging and execution. For example, we don’t agree with the decision to launch the… — Dan Robinson (@danrobinson) November 26, 2023 Dan Robinson, a researcher at Paradigm, a crypto-focused venture firm, which backed Blast for $20 million, said in a recent X post the firm has been discussing its “concerns” with the Blast team, noting “there are still ma...

When BRICS announced this year that they plan to dethrone the US dollar from the global reserve currency status, nobody took their ideals seriously. The alliance has now walked the talk and slowly changed the global financial dynamics one step at a time. Though the pace of De-dollarization is slow, BRICS are marching on the path of ditching the US dollar and putting their local currencies forward. Also Read: BRICS : India Unhappy After Russia Begins to Cement Ties With Pakistan Read here to know how many sectors in the US will be affected if BRICS stops using the dollar for trade. The traditional financial system will be altered leading the way to the new world order dominated by developing countries. The development will put the US dollar under pressure if countries begin to use local currencies for cross-border transactions. BRICS Slowly Chips Away US Dollar’s Global Dominance Source: energyintel.com / rustamxakim/ Shutterstock Firstly, China convinced a handful ...

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Have you thought of how tokenization is related to homeownership? Beyond a direct link between these two notions, tokenization reimagines the way we think about ownership. Owning a home is becoming a hereditary privilege. The gap between those with and without parental wealth is getting more obvious than ever, with one third of British first-time home buyers receiving help on a down payment or being completely financed by their parents.  You might also like: Investors must be ready for the power of asset tokenization | Opinion The US is no exception to the generational hurdle—last year, the median age of American home buyers surged to 53 from 45 in 2021. And housing is just one piece of a wealth puzzle. So, what are the durable ways to make the notion of ownership more inclusive for generations to come? In tandem with t...

A widely followed crypto analyst says that one red-hot altcoin could keep soaring en route to printing a new all-time high. Pseudonymous crypto trader The Flow Horse tells his 187,700 followers on the social media platform X that Celestia (TIA) could increase more than 72% from its current value. “TIA held $5, probably heads to $10.” He previously predicted that TIA would remain in an uptrend after holding the key price level of $5. TIA is trading for $5.81 at time of writing, up about 160% from its low of $2.25 on November 9th. Celestia is a blockchain built to enable anyone to launch their own decentralized networks at minimal cost. The altcoin printed its all-time of $7.33 just a few days ago. Next, the trader offers a prediction for Bitcoin (BTC) related to the possible approval of a spot Bitcoin exchange-traded fund (ETF). “Reiterating Bitcoin ETF view for everyone who asks. Short-term (Time 0+ of being approved): higher. Intermediate term: lower. Long...

The metaverse is a collection of 3D virtual worlds that aim to build social and economic connections. It has grown rapidly and was valued at $234.04 billion last year alone. Experts forests the sector to be worthy $3.4 trillion by 2027.  The metaverse has captured the imagination of a significant portion of the digital economy, with a recent research report by the World Economic Forum (WEF) suggesting that over 700 million people are expected to use this technology regularly by the close of the decade.  Industry leaders such as Google and Microsoft have started investing in this space, with Google contributing $39.5 million to a private equity fund for metaverse projects and Microsoft acquiring video game giant Activision Blizzard for $69 billion to explore the metaverse gaming realm further. The evolution of this digital universe Technological advancements are crucial for the success of the metaverse . Critical trends expected to contribute to the growth of this...

As the majority of assets in the cryptocurrency market take a bullish turn, Cardano (ADA) is no exception, recording increases on all of its charts and getting very close to surpassing the psychologically important price threshold of $0.40. So, is it already too late to invest in it? Indeed, Cardano has been on a consistent upward move for the last six consecutive weeks, having grown in value as much as 59% – from about $0.245 on October 12 to the current $0.39, as per the most recent information retrieved by Finbold on November 24. Cardano price chart since October 12. Source: Finbold On top of that, data has shown that one out of three Cardano holders, or specifically 36% at press time, were in profit, thanks to the price increases that were the result of optimism created by persistent efforts of the team centered at Input Output Global (IOG) on developing a fully decentralized ecosystem. That said, Cardano’s present price is a mere fragment of what it could be, considerin...