NFTs: Burning Down the House! Aug 25, 2021
NFTs: Burning Down the House!
It was back in early 2021 when we saw the likes of an NFT video clip of Lebron James selling for $208,000, and a digital Beeple piece fetching the likes of $69 million dollars at auction. The NFT inferno quickly died down in April, but in recent weeks NFTs are blazing back into the public eye. Recently it was announced that Facebook intends on supporting NFTs in their Novi digital wallet, and Visa purchased a CryptoPunk for $150k. Many of us are left here scratching our heads; Are NFTS solidifying their place within the world of art and crypto?
BTC: Double Bubble Trouble
According to new data coming in this week, experts and TA enthusiasts alike are saying that we could be seeing a “Double Bubble” scenario playing out with Bitcoin. What is a Double Bubble you ask? According to Charles Edwards, CEO of financial firm Capriole, it is when an asset shows two price tops within a market cycle - “In prior cycle tops, bounces were never able to hold unrealized profit and loss above 0.5. Only the 2013 double bubble and today have achieved this.” Edwards claimed. This prediction has left both Bitcoin maximalists and Altcoin Hodlers alike restless with excitement. Let’s hope that Mr. Edwards and his crystal ball really can predict the future!
ADAX: Cardano's First Big Hit?
With the recent announcement from Cardano (ADA) that they will soon be releasing their long awaited smart contract update, a new decentralized exchange is being built on the platform to rival the likes of Uniswap on Ethereum. ADAX is a decentralized exchange built entirely on Cardano’s ecosystem, and one that is slated to provide users with a trading platform for swapping tokens and NFTs, along with a range of other functionalities. ADA believers claim that this will be the first major protocol to be operating on the new and improved Cardano development ecosystem. Time will tell if other projects follow suit with developing atop the Cardano ecosystem, and if ADAX is able to deliver on its promises!