Author: NBTC
A recent report by nftevening.com reveals a troubling state of the non-fungible token (NFT) market, with 96% of NFTs now considered “dead.” The analysis highlights the high unprofitability rate among holders and the fleeting lifespan of most NFTs. NFT Sector Faces Uncertain Path as 2024 Bull Run Bypasses It As highlighted in nftevening.com’s 2024 report, the once-celebrated future of digital ownership, the NFT market, is currently grappling with significant hurdles. The report scrutinized over 5,000 NFT collections and around 5 million transactions to assess the present state of the market. A staggering 96% of NFTs were deemed “dead,” meaning they…
Ethereum cofounder Vitalik Buterin just revealed that almost 90% of his net worth is invested in ETH, reinforcing his strong belief in the strength of the second-biggest asset on the market. The reason behind this disclosure was a wider conversation regarding Ethereum’s function as a store of value (SoV) and its significance on the DeFi network. About the platform’s positioning, specifically ETH’s function as a significant store of value, there has been continuous discussion within the Ethereum community. As a result of regulatory concerns or other risks, some users have criticized the Ethereum Foundation and its core developers for not…
After United States President Joe Biden withdrew from the race for his re-election, replaced by his Vice President Kamala Harris, her planned economic policies, deemed even more radical than the current President’s, have attracted scrutiny and criticism, including from a popular economist. Specifically, Peter Schiff has criticized Harris’s proposed economic plan as increasing inflation, arguing that inflation is not the solution but rather the opposite, as he explained in an X post published on August 30. Indeed, as Schiff pointed out: “Kamala Harris’s economic plan can be summarized in one word: inflation. That’s the only ‘solution’ she offers for every…
Hyperspace, a multi-chain non-fungible token marketplace and launchpad, is shutting down its platform on Solana. The project announced this on Sept. 3, noting that the decision to shut down its NFT marketplace on Solana (SOL) was a difficult one. Hyperspace plans to fully sunset the Solana offering by September 17, 2024, and has advised users to delist their NFTs before this date. In addition to removing website support for Solana NFTs, the platform will also sunset its application programming interface. This will begin on Sept. 17, as the Hyperspace team posted on X. “While it’s a difficult decision to make,…
The crypto market saw a horrific crash earlier today as top cryptocurrencies saw a major fall in their prices. CoinGlass reveals that almost $333 million were wiped out of the market in the last 24 hours. Nearly $272 million of it were in long liquidations as a majority of traders were in long positions owing to the positive sentiment before the crash. The price of Ethereum (ETH), the second largest coin on the market, also went downhill during this time. It went from trading around $2,659 to trading at $2,421 within 12 hours. Moreover, the coin saw total liquidations of…
While Bitcoin (BTC) fell to $ 59,000 again with the decline it experienced, data on Personal Consumption Expenditures (PCE), which is closely followed by the FED when making interest rate decisions and is considered a leading inflation indicator, were announced. Accordingly, all data announced regarding personal consumption expenditures in June were as follows: Core Personal Consumption Expenditure Price Index (YoY) Announced 2.6% – Expected 2.7% – Previous 2.6% Core Personal Consumption Expenses Price List (Monthly) Announced 0.2% – Expected 0.2% – Previous 0.2% Personal Consumption Expenditure Price Index (Annual) Announced 2.5%– Expected 2.6%– Previous 2.5% Personal Consumption Expenditure Price Index…
The gaming sphere within the crypto market keeps on making new developments, with many projects getting substantial traction. Phoenix, a crypto analytics platform, has disclosed the list of prominent crypto gaming projects based on social activity, highlighting the blockchain-based gaming sector’s increasing influence on the wider crypto world. TOP #GAMING PROJECTS BY SOCIAL ACTIVITY$FLOKI $EGLD $RENDER $NAKA $VRA $GALA $AXS $APE $MANA $SAND pic.twitter.com/jkj5dljpLk — PHOENIX – Crypto News & Analytics (@pnxgrp) September 3, 2024 Floki Inu Dominates Phoenix’s List of Prominent Crypto Gaming Projects In its list, Phoenix has placed Floki Inu ($FLOKI) in the 1st position as it…
Researchers Murray A. Rudd, Matthew Jones, Daniel Sechrest, Daniel Batten, and Dennis Porter have unveiled a new study showcasing a cutting-edge framework that fuses landfill gas-to-energy (LFGTE) systems with bitcoin mining. This innovative strategy is designed not only to combat methane emissions but also to unlock new economic opportunities. Study Merges Landfill Gas-to-Energy Systems With Bitcoin Mining for Dual Impact The team from Satoshi Action Education, Nodal Power, and CH4 Capital, in a study published in the Journal of Cleaner Production, propose a framework that could significantly alter how methane mitigation is handled. This method involves combining landfill gas-to-energy systems…
Dwindling “exchange stablecoins ratio” points to declining selling pressure in the BTC market, CryptoQuant said. Supply of the top two stablecoins, USDT and USDC, continues to rise. Bitcoin (BTC) has quickly recovered to nearly $60,000 after a debacle last week that saw prices drop below $50,000 at one point. The recovery may have legs, as the “exchange stablecoins ratio,” which measures the number of BTC held in wallets tied to centralized exchanges relative to stablecoins, suggests reduced selling pressure. The ratio has dropped to its lowest since February 2023, extending a prolonged downtrend that began in June last year, according…
Veteran trader Peter Brandt has recently shared his thoughts on Ethereum’s (ETH) price action. In a tweet that has caught the attention of the crypto community, Brandt shared his thoughts on how he sees trading possibilities, highlighting the importance of having a well-defined risk point in any trade. “One of the important things I look for in a trade is if it has a well-defined risk point where I can say I am wrong and cut my losses,” Brandt wrote. One of the important things I look for in a trade is if it has a well-defined risk point where…