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Bitcoin on exchanges just keeps falling (yet still correlated to Nasdaq)
Bitcoin on exchanges continues to be bought and moved off of the exchange. The total amount of bitcoin on exchanges just keeps falling. This is probably something of a long-term bullish indicator.
In the short term, bitcoin is showing a strong correlation to the Nasdaq and a low correlation to gold. So there is some uncertainty, but with uncertainty comes opportunity if you believe in the space.
Coinbase has launched their NFT marketplace (beta)!
Let’s take a look at some projects being built that have some integrations with our favorite coins. There’s so much going on in that space. Let me clue you in. Coinbase’s Ethereum NFT Marketplace and soon-to-be multi-chain launches in beta. The long-awaited Coinbase NFT platform, which was announced six months ago, is now live with an initial 0% marketplace fee and social media-like elements.
This is the official announcement @Coinbase_NFT:
‘ATTN: INTERNET. Our beta is officially live!’
Of course, this is a slow rollout, so there are over four million people signed up to try this out. The top people on the waitlist have access to it and over the next weeks and months they’re going to do a slow rollout.
‘Today we kick things off with a full access experience for some of our waitlist friends. As we ramp up, everyone can explore the vast collection of NFTs on the first version of Coinbase NFT.’
Of course, they’re competing with OpenSea and eventually, Facebook will launch their own marketplace. And as all these different marketplaces compete, it’s better for us as users of these platforms. Overall, this makes me bullish on the NFT space along with plenty of other things. For instance, the next news.
Deadfellaz Ethereum NFT Collection Lands Exclusive Deal with UTA
Deadfellaz Ethereum NFT collection lands an exclusive deal with the biggest talent agency in Hollywood, UTA. As a result, Deadfellaz join CryptoPunks, Meebits, and Autoglyphs on UTA’s growing roster of digital talent. So it’s amazing to see all these big Hollywood agencies starting to represent big NFT collections for possible movie, television, and video game integrations. Time will tell, but I’m glad to be in NFTS.
NBA Announces ‘Dynamic’ Ethereum NFTs for Playoffs
Therefore, the NBA announced dynamic Ethereum NFTs for the playoffs, and I think this is going to be a really big deal, especially with the NBA Top Shots from last year doing so well.
‘The 18,000 NBA NFTs have traits that will change based on an athlete’s performance.’ – Decrypt writes.
These NFTs have utility NFTs and sport such a natural fit. Sports fans are such passionate fans, such big collectors, and they actively participate in every game with fantasy basketball or what have you. With dynamic NFTs for each player in the 2022 NBA playoffs, it appears that this could generate, you know, usership.
This is what the main site looks like. They completed their allow list in less than 20 hours. They will have their own public mint. It’s really cool. I wanted to show you what it looks like.
Is ETH L2 Optimism About to Drop a Token?
Speaking of Ethereum, let’s talk about Ethereum scaling and go over three of the most popular Ethereum layer two scaling solutions. As Optimism is currently without a token, many people are suspecting that they’re about to drop a token on its user base. Optimism is about to drop a token on Ethereum.
‘The optimism team has laid out plans for “A New Chapter” in the network’s progression. The Layer 2 solution has confirmed a move towards ‘community ownership and governance’, hinting that it may soon issue a token. Coinbase has also created a page for an optimism token, leading to further speculation.’ – Crypto Briefing writes.
I think this will happen eventually in the same way that Uniswap did it, where it launched its token to people already using it before we get to more altcoins.
MakerDAO to Launch on ETH L2 StarkNet (10x Lower Gas Costs)
Another ETH Layer 2 protocol gaining widespread adoption from. Ethereum’s creator is about to launch on stark net without a token, promising 10x lower gas costs.
“DeFi “blue chip” project MakerDAO is adding an integration with StarkNet to cut transaction costs and speed up withdrawal times.” – Decrypt writes.
Polygon Holders HAPPY!
Last but not least, Ethereum’s top scaling solution, L2 MATIC, is eyeing a breakout for many reasons. One is that whales have been accumulating MATIC, which could help the token stage a bullish breakout.
Australia’s first Spot Bitcoin ETF launch next week
The fundamental aspects of cryptocurrency continue to be bullish. That is why I will remain a long-term supporter of Bitcoin, Ethereum, and high-quality projects.
“Australia’s first Bitcoin ETF could attract a billion dollars after its launch next week. Australian investors will be able to trade their first Bitcoin spot ETF starting next week when the Cosmos Asset Management Bitcoin ETF launches on ASX Clear.” – Cointelegraph writes.
Canada has a Bitcoin ETF and an Ethereum spot ETF. Australia will have a Bitcoin spot ETF eventually. The US will get this and it will be a big deal.
Investors Poured $2.5B Into Crypto Games in Q1 2022
Crypto gaming has yet to go mainstream, but the pump is being primed. Investors poured almost $2.5 billion into crypto games in Q1 of 2022. A report shows that ‘hype for crypto gaming goes hand in hand with metaverse speculation’. A new DappRadar report now suggests 2022 will see more growth for the niche, and I am bullish on cryptocurrency gaming.
Binance continues to be the most popular exchange. Coinbase is the most popular exchange in America. Crypto.com is also up there.
ApeCoin Hits One Month-High (Yuga Labs Metaverse Land Sale Rumors)
ApeCoin, a precedent-setting coin for the popular board ape yacht club, is actually doing well.
ApeCoin hit one month-high amid Yuga Labs Metaverse Land sale rumors, so right now it’s just pumping based on the hype, but it is part of a ‘blue chip’ collection, so time will tell. Obviously, the space goes in ebbs and flows, we will continue to keep you updated on this.
[This article is a transcription of a video made by Altcoin Daily]
Original video: https://youtu.be/J7l5T42OvgY ]