Category: Cryptocurrency news

Bitcoin Overtakes Ethereum for First Time in 24-Hour NFT Sales Shift

Post author By admin
Post date November 9, 2023
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On November 8, 2023, the Bitcoin blockchain saw its non-fungible token (NFT) asset sales surpass those of the Ethereum platform, marking a historic change over the single-day period. According to analytics provided by cryptoslam.io, Bitcoin-based NFT transactions totaled $17.17 million, surpassing the $15.77 million in Ethereum NFT sales recorded during the 24-hour period.

Bitcoin Eclipse Ethereum NFT Sales Increase in a Day

The trend of Bitcoin NFT transactions has been on an upward trajectory as of late, and just three days ago, Bitcoin.com News highlighted that Bitcoin took second place in NFT sales over the course of a week. For the first time, Ordinal’s subscriptions to Bitcoin, its exclusive brand of NFT, surpassed sales of Ethereum in a 24-hour period on Wednesday.

NFT connoisseur Leonidas, founder of Ord.io, documented this unprecedented on-chain event, marking the occasion when Bitcoin-based NFTs leapt ahead of their Ethereum counterparts for the first time in history. Leonidas said:

   Breaking: Ordinals just invested in Ethereum NFTs for the first time. So of course I had to register it in Bitcoin forever.

Recently, ordinal entries witnessed a notable drop in activity that persisted for over a month. This decline followed an increase in daily mintage; Thereafter, the number of new registrations faced a persistent struggle until October 24. However, the tide has since turned and November 4 saw the second-highest number of registrations in a single day, with a total of 433,471.

Looking at the one-week performance of NFT sales, Ethereum has seen an increase, raising $79.61 million since Wednesday, November 1, 2023, which is a 45.66% increase over the week. previous, as reported by cryptoslam.io. In comparison, weekly Bitcoin NFT sales also saw an increase, showing a 661.60% increase from the previous week, with sales reaching $55.52 million.

On Wednesday, the “$SATS BRC-20 NFT” collection surpassed the Bored Ape Yacht Club (BAYC) series, reaching the top of the sales chart. Behind BAYC, “$RATS BRC-20 NFT” took third place in sales in the last 24 hours. The chances of Bitcoin NFTs taking the top spot next week are slim, as Ethereum already has a $24.09 million lead.

Tags bitcoin, bitcoin news, crypto investments, NFT, NFT SALE, USDT

Bitcoin Cryptocurrency news Investment News

Shiba Inu Burn Rate Increases 13,000% Amid Whales Moving 11 Trillion SHIB

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Post date November 7, 2023
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Shiba Inu, the self-proclaimed Dogecoin killer, is creating quite a stir in the cryptocurrency space following its colossal surge in token burning.

Furthermore, according to recent data revealed by Whale Alert, one of the world’s leading crypto tracking platforms, a series of colossal whale transactions has caught the attention of investors and traders as it recently transferred more than 10 trillion tokens from today, November 7th. , 2023.

Subsequently, amidst the constant burning and reallocation of SHIB tokens, the price of Shiba Inu has seen a marginal increase over the past seven days and today’s price has seen a slight jump.

Shiba Community Burns Tokens Amid Price Rise

According to recent data from Shibburn, 173 million SHIB tokens were burned in the last 24 hours. The burn rate of SHIB has seen a phenomenal increase and has increased by 12,840.60% at the time of writing.

The aforementioned token burn reflects the positive sentiment surrounding the SHIB token economy. The Shiba Inu crypto community appears to be improving the SHIB tokenomics by reducing the total tokens available for supply.

Shiba Inu (SHIB) price, at the time of writing, has seen a marginal increase and is up 3.91% in the last twenty-four hours, reaching $0.000008367. Furthermore, the token has seen a marginal increase of 5.12% in the last seven days.

The rise in the meme coin’s price appears to be in line with recent strides made by the community to improve the SHIB tokenomics.

Also Read: Cathie Woods’ Ark Invest Buys Block Inc. Shares, But Drops Grayscale’s GBTC

Whales Transferring Billions of SHIB Tokens

According to the data revealed, as of today, November 7th, a staggering 2.4 trillion SHIB tokens have been transferred from an address, 0x9acbb72c…9c6a9c3311, called Paribhu, to an unknown wallet, 0xa23cbcdf…65885be3f5.

Furthermore, in a series of whale transactions around Shiba Inu, more than 10 billion tokens have been transferred to date, following the Shib community’s efforts to improve the SHIB tokenomics.

To date, a staggering 4.4 billion SHIB tokens have been transferred from Bitvavo, a cryptocurrency exchange, to an unknown wallet, 0x5c21d705…d05d59f201.

Furthermore, another whale movement caught the attention of cryptocurrency enthusiasts, transferring 4.4 billion SHIB tokens from one unknown wallet to another. The unknown wallet, 0x3ba943c7…225e6dabee, transferred SHIB tokens to another unknown wallet, 0x0259ca48…52d2b3064f, on Bitvavo.

The total number of SHIB tokens transferred in the last twenty-four hours reaches over 10 trillion, reflecting the positive sentiment across the broader crypto market.

The aforementioned transactions involving mass movements of SHIB whales appear to arise as a result of the Shiba Inu community’s support for its token. Furthermore, the Shiba crypto community has also been constantly burning SHIB tokens in hopes of improving the SHIB tokenomics.

Tags crypto investments, SHIB, Shiba

Bitcoin Cryptocurrency news Ethereum

Ethereum reaches $1,900

Ethereum suddenly gained ground against Bitcoin, with its ratio rising from 0.052 to around 0.054 BTC, while its dollar price touched $1,900.

It is the highest level in four months and this price increase is due to several reasons, some of them specific to ethics.

The biggest one is probably the Celestia airdrop. This gave around 170,000 ethereums $500 just for being eth users.

Many of them were likely sold instantly for eth, and the attention Celestia received during the airdrop earlier this week has disappeared.

That’s a new ethical statement, with Celestia’s market capitalization currently at $330 million. Small compared to Ethereum’s market cap of $228 billion, but potentially enough to change the ratio a bit.

Another reason is that Ethereum has not kept up with Bitcoin, which has gained 30% this month compared to Ethereum’s 17%.

This has happened in the past when Bitcoin has led gains, as it did recently due to speculation about the BlackRock Spot ETF, but Ethereum generally recovers over time.

Especially since in this case, if Bitcoin gets a spot ETF, so will Ethereum, since Ethereum future ETFs have been approved, so any advantage Bitcoin might have would only be temporary.

For example, the Securities and Exchange Commission (SEC) recognized the filing of the Invesco Galaxy spot eth ETF this Friday. The deadline for approval or rejection is in May, just a few months after Bitcoin’s January.

As Bitcoin is somewhat off track at resistance above $36,000, numerous cryptocurrencies have seen gains against BTC, with Sol in particular rising 80%. Therefore, the ethereum ratio now also has its turn, at least for today.

Devconnect’s week-long Ethereum meetup in Turkey is also almost here, starting on November 13th.

Ethereum will not be holding a Devcon this year, as Devconnect is different in that it is more focused on coders.

However, as there will be no Devcon, this Devconnect is sort of the main ethical event of the year. Your schedule is packed for the week and there is a lot going on.

Whether this will affect the price remains to be seen. There may be announcements, although the Ethereum Foundation has not promoted the event much.

All three combined gave eth some strength for the day, but on the downside, bitcoin could also be benefiting from the macro picture and eth became inflationary again during the day.

Its supply increased by 0.16% on this quiet Sunday, but during the week it fell by 0.005%. Which makes for a mixed picture as some Ethereum users attempt to transition to the second layers.

Overall, touching $1,900 is a positive sign that eth may be trying to break the $2,000 resistance. It will likely work alongside bitcoin if they manage to break the resistance levels, then eth could also fall below that level.

Tags Ethereum, Ethereum price, Tether

Bitcoin Investment cryptocurrency exchange Cryptocurrency news NFT Investment

Nike-RTFKT NFT universe rises to $1.4 billion in transactions

Post author By admin
Post date November 5, 2023
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The collaboration between Nike and digital art studio RTFKT has opened a new chapter in NFT trading, with its collections approaching a volume of US$1.4 billion. With revenues reaching $170 million, this partnership highlights the growing intersection of digital assets and physical goods. The recent frenzy was catalyzed by a counterfeiting event that allowed NFT holders to pre-order limited edition Nike-RTFKT sneakers, triggering a 600% increase in trading.

NFTs unlock exclusive physical sneakers

Consumers have shown great enthusiasm for Nike-RTFKT offerings, with special events granting NFT holders exclusive access to tangible products. This step not only improved consumer engagement but also strengthened the authentication process. Sneaker fans, including LeBron James, have embraced this innovative approach, bridging the gap between physical collectibles and their digital counterparts. Furthermore, these initiatives have supported the digital authentication process, guaranteeing the legitimacy of the coveted sneakers.

Market resonance and forging success

The recent Dunk Genesis Cryptokicks parody has caused a spike in trading activity. In October alone, transactions for the necessary NFTs increased to more than half a million dollars. Furthermore, the market response to physical sneakers was equally strong, with after-sales on platforms like eBay reaching prices four times higher than the initial cost.

This strong market resonance signifies the powerful appeal of integrating NFTs with exclusive physical products, a trend that is becoming increasingly common in the sneaker industry.

Significantly, Nike and RTFKT’s digital venture is a testament to the effective fusion of NFT technology with traditional consumer goods, increasing not only the value but also the authenticity of sneakers for collectors around the world. As this blending of the physical and digital worlds takes firmer root, it is clear that the collectible footwear landscape is undergoing a significant transformation.