The quantity of monthly USD value transferred from seven leading non-fungible token (NFT) marketplaces has reached a total of $356 million during the first week of August. Currently, the project Cryptopunks is leading the pack when it comes to NFT project sales. Meanwhile, the marketplace Opensea captures the lion’s share of transferred value as the trading platform commands 97.19% of the monthly value settled.
On Friday, Ukraine’s Deputy Minister of Digital Transformation, Oleksandr Bornyakov, shared in an interview that it will be possible to legally pay with crypto in the country once the new law is adopted. As of now, the draft law ‘on virtual assets’ is now being prepared in the second reading.
A millennial investor explained his story of losing nearly £2,000 in savings accumulated during the COVID-19 lockdown by investing in Dogecoin.
In an article by The Sun, 27-year-old Frank Bird explained his experience of losing money by trying to capitalize on the internet’s obsession for the memecoin DOGE. The report claims Bird invested £2,000 into Dogecoin, a sum he had managed to accumulate in savings during the coronavirus lockdown.
A low-cap altcoin is having an incredible week, surging 5,900% in just seven days on the heels of two key catalysts.
Alchemy Pay (ACH) skyrocketed from a low of $0.003 to a high of $0.18 in seven days, representing just under 6,000% gains for holders who were able to ride the rally from trough to peak.
Finally, Shiba Inu appears to be working in the bulls’ favour, having risen more than 21% in the last 24 hours and trading at $0.00000803.
Shiba Inu, dubbed the “Dogecoin Killer,” dropped in tandem with the broader cryptocurrency market. In May, the Dogecoin Killer hit an all-time high before plunging to almost the same level since then.
Last quarter, blockchain projects raised a record $4.4 billion, and Statista is calling 2021 the “year of the cryptocurrency.” All this frenzied capital is built on one premise: That decentralized networks are advantageous in a number of ways, including trustlessness, transparency, and greater security.
The president of Fidelity Digital Assets, the crypto arm of Fidelity Investments, says that crypto is “its own unique asset class.” He revealed, “We and others are very engaged with regulators … to bring this asset class into the mainstream.”