The NFT market was heating up faster than Steph Curry in an open gym, but it appears to have already burst.
Thanks to the research by the crew at Protos, they found that The NFT market has imploded over the past month, with sales in every single category almost entirely drying up.
NFTs peaked on May 3, when $102 million worth were sold in a single day. The crypto-collectibles market made up $100 million of those sales.
But according to data analyzed by Protos, just $19.4 million in NFT sales were processed in the past week.
Overall, $170 million in NFTs were transacted in the seven days surrounding the market’s top — a near-90% collapse.
CryptoPunks have been selling for as much as $7.5 million each, with many going for over $1 million.
NBA Top Shots selling for multiple hundreds of thousands of dollars. And many collectible NFT’s going for just as much.
Early blockchain pioneer Dan Larimer shares a lot of great insights in this interview I hadn’t heard before here. But in short, he sees a continued wild ride ahead.
Bitcoin and other cryptocurrencies set out to upend the financial order and replace conventional money. Bitcoin has certainly disrupted the global financial system, but can it ever live up to the hype?
How big of a threat is Bitcoin to centralised currency, and with figures like Elon Musk able to influence its value so dramatically will it lead to a financial revolution or just further digital control by powerful billionaires?
Cryptocurrencies like Bitcoin have been billed as a major disruptor to finance. But digital currencies issued by governments might be even more radical—they may even threaten the future of traditional banking.
Dr. Michael J. Burry. The financial genius who profited hundreds of thousands of dollars betting on the crash of the U.S. housing market, and helped to inspire the movie “The Big Short,” is currently warning that America is set to face a Weimar-like hyperinflation situation. Considering trillions more are about to be issued, “the US government is inviting inflation,” confirmed Burry. In this video, we going to analyze Burry’s latest insights on the U.S. economic collapse and the looming stock market crash.
In 1974, Jens O. Parsson published an excellent, in-depth historical analysis of the hyperinflationary crash of Weimar Germany under the command of the original money printer, Rudy von Havenstein, “Dying of Money. Today we analyze the book and Burry’s specific predictions
Intense interest in cryptocurrencies, like bitcoin, and the Covid-19 pandemic have sparked debate among central banks on whether they should issue digital currencies of their own. Advocates argue that central bank digital currencies, or CBDCs, can make cross-border transactions easier, promote financial inclusion, and provide payment system stability. Here’s how central bank digital currencies could become the future of digital finance.
Intense interest in cryptocurrencies and the Covid-19 pandemic have sparked debate among central banks on whether they should issue digital currencies of their own.
China has been in the lead in developing its own digital currency. It’s been working on the initiative since 2014. Chinese central bank officials have already conducted massive trials in major cities including Shenzhen, Chengdu and Hangzhou.
“China’s experiment is very large scale,” said J. Christopher Giancarlo, former chairman of the U.S. Commodity Futures Trading Commission. “When the world arrives in Beijing next winter for the Winter Olympics, they are going to be using the new digital renminbi to shop and to stay in hotels and to buy meals in restaurants. The world is going to see a functioning [central bank digital currency] very soon, within the coming year.”
The U.S. is playing catch-up. In late February 2021, Fed Chairman Jerome Powell said the U.S. will engage with the public on the digital dollar this year.
Advocates contend central bank digital currencies can make cross-border transactions easier, promote financial inclusion and provide payment system stability. There are also privacy and surveillance risks with government-issued digital currencies. And in times of economic uncertainty, people may be more likely to pull their funds from commercial banks, accelerating a bank run.
No longer dismissed as a haven for criminals and drug dealers, Bitcoin and blockchain have gone mainstream. Bitcoin’s 2020 surge grabbed the attention of C-suite executives worldwide; not only are companies employing the technology underlying Bitcoin to perform tasks such as reconciling invoices and verifying product provenance, but dozens are now holding Bitcoin as a treasury asset. Our third annual Blockchain 50 features companies that lead in employing distributed ledger technology and have revenue or a valuation of at least $1 billion. Twenty-one newcomers—including the world’s largest bank, the Industrial and Commercial Bank of China, and four others from Asia—make their debut. They take the spots of such U.S. companies as Facebook, Google, Amazon and Ripple, all of whom are still active in blockchain but kept lower profiles in the space over the past 12 months.
Up 300% in 2020, Bitcoin is suddenly getting respect in the C-suite. Here’s how PayPal, Square and the 48 other big companies on Forbes’ third annual Blockchain 50 are outpacing their competition using Bitcoin and the underlying blockchain.
Is cash still king? The coronavirus pandemic may cause a drastic decline in cash usage due to the risk of contamination. The unprecedented surge in the demand for contactless payment has also shown outstanding performances for major companies offering cashless payment methods, like Apple, Square and Paypal. Could covid-19 signal the end of cash in the United States and can the U.S. really function without physical currency?
