NFT land was sold for 550 ETH, eToro delisted ADA and burned 1 million ETH since August: Hodler’s Digest, November 21-27
Come every Saturday, Hodler’s Digest Will help you keep track of every important news report that happened this week. The best (and worst) quotes, adoption and regulatory focus, leading tokens, forecasts, etc.-Cointelegraph of the week on one link.
Headlines this week
A piece of virtual land in the popular monster battle NFT game Axie Infinity costs 550 Ether (Ethereum) This week, the total value is more than $2.2 million at the time of writing.
This virtual land was purchased on Thursday and is classified as Genesis, which is the rarest form of virtual real estate in the Axie Infinity ecosystem. The game enables players to use Pokémon-like Axie monster NFT to fight against other players or complete challenges to obtain blockchain rewards. Users can also buy, sell or rent land from other players.
The game’s developers said on Thursday that they believe this is “the largest amount ever paid for a single piece of digital land.”However, a quick Google search revealed that a period of Virtual real estate Sold for 618,000 MANA ($2.9 million at current prices) the day before Decentraland.
By early 2022, users will no longer be able to open new positions in the tokens or pledge them. In addition, before the first quarter of 2022, wallets holding assets will effectively be in withdrawal-only mode, and sales will also be restricted at that time.
As far as the ADA is concerned, many bystanders are confused by this move because the asset has never had any obvious regulatory or legal issues. Cardano is also working to improve its regulatory compliance this year, working with blockchain analytics provider Confirm as part of its drive to meet financial regulations.
Celsius expands the round of financing to US$750 million, with a valuation of US$7B to US$10B in 2022
Due to the oversubscription of the company’s raised funds, Celsius Network expanded its $400 million Series B financing in October to $750 million earlier this week.
CEO Alex Mashinsky told Cointelegraph that the company’s valuation after the B round of financing is $3.5 billion, and optimistically predicts that Celsius will be valued “double or triple” in 2022.
Mashinsky emphasized the growth potential of the business and pointed out that the company has the ability to provide services in almost all areas of encryption. The company currently provides loans and DeFi services and proceeds from its crypto mining business, and the CEO said it plans to enter the NFT soon.
The team behind the beloved memecoin Shiba Inu (SHIB) issued a public warning on Sunday against online scams mainly targeted at altcoin investors curious about SHIB.
Scammers are said to be hovering on Twitter and Telegram, waiting for any opportunity to attack careless investors by impersonating official accounts and targeting hashtags such as #shib, #shibarmy, #leash, #shibaswap, and #bone.
Shiba Inu’s fraud alert hopes that users pay special attention to fake Telegram groups, and points out that the official community does not provide any form of promotional activities, including airdrops, bonuses, gifts or gifts, and will not require any wallet keys and credentials.
Blockchain research company CryptoRank emphasized on Wednesday that since the London hard fork went live in August, more than 1 million ethers have been burned, worth about 4 billion U.S. dollars. The network upgrade introduced a burning mechanism as part of the Ethereum fee structure.
According to CryptoRank, the platform responsible for erasing the most ETH is the NFT market OpenSea, which destroyed 110,237 ETH (439 million US dollars), while the decentralized exchange Uniswap V2 destroyed 97,583 ETH (388 million US dollars).
Data from Ultrasound Money shows that the current burning rate of Ethereum is 10,451 ETH per day, which is equivalent to 7.26 ETH per minute. Although many bystanders say that the London hard fork will quickly make ETH a deflationary asset, there seems to be more room to burn. The current annual burn rate is 3.8 million ETH, and 5.4 million ETH is issued every 12 months.
Winners and losers
Among the 100 largest cryptocurrencies, the top three altcoin beneficiaries this week are Gala (festival) 173.91%, Zcash (ZEC) 58.07% and sandbox (sand) 57.88%.
The top three altcoin losers this week are Nexo (relation) 22.53%, wax (wax) 21.17% and ICON (ICX) 20.83%.
For more information on encryption prices, be sure to read Cointelegraph’s market analysis.
The most memorable quotes
“[An NFT is] A piece of digital data records who a piece of digital work belongs to. […] What really attracts the public’s imagination for NFT is the use of this technology to sell artworks. ”
“We believe that CME Group futures will be a very effective element in the portfolio. We never thought that they would be effective when they became 100% products.”
Anna Paglia, Invesco Global Head of ETF and Index Strategy
“I actually don’t believe that Dogecoin is good for the cryptocurrency market, I guess it’s a bit controversial. […] Dogecoin itself has some inflationary dynamics, which makes me reluctant to hold it. ”
Brad Garlinghouse, CEO of Ripple
“India has the largest number of cryptocurrency owners in the world, and the government has the responsibility to protect the interests of a large number of cryptocurrency investors in the country.”
Hao Jie, CEO of cryptocurrency exchange OKEx
“We see the risks of participation [in the crypto sector], But we believe that the risk of not participating is greater. “
Matt Coming, Chief Executive Officer, Commonwealth Bank of Australia
“I can tell you that it is much better to be in a licensed jurisdiction than in an unlicensed jurisdiction. This is because it really changes our dialogue with our partners.”
Adrian Puzelozny, CEO of Independent Reserve, speaking on upcoming regulations in Australia
“I don’t know what the solution is. But I do know that with the arrival of millions of new users, they should not be ashamed of entering other ecosystems. Developers should not be ashamed of developing on their basis. .”
Su ZhuCEO and co-founder of Three Arrow Capital, commenting on the Ethereum network
“It is difficult to find a way to balance the regulation of investor protection and innovation, especially in areas where new financial products appear every few months.”
Yuri Kovalev, Zenfuse CEO
Forecast this week
Crypto investment giant Grayscale released a bullish report on Metaverse this week, predicting that once the technology becomes mainstream, the value of the industry will exceed $1 trillion in the next few years.
The report believes that open metaverse platforms supported by the “interconnected crypto economy”, such as native tokens, DeFi services, NFTs, and decentralized governance, have “created a new online experience” and quickly attracted new users .
Grayscale analyzed the “Global Historically Active Metaverse Wallets” data since the beginning of 2020 and found that as of June 2021, the user base has increased tenfold to approximately 50,000.
“Compared with other Web 3.0 and Web 2.0 market segments, Metaverse Virtual World users are still in the early stages, but if the current growth rate remains on the current track, this emerging market segment may become mainstream in the next few years,” The report says read.
FUD this week
A sort of this Lord of the RingsAfter the family and estate of the late author of the famous drama series JRR Tolkien took legal action, the theme “JRR Token” project was forced to close this week.
The project borrowed a lot of intellectual property from beloved series, such as mythological rings, images of Hobbit caves, and a wizard who looked extremely similar to Gandalf the Grey. The estate’s lawyer, Steve Maier, described the case as a “particularly flagrant infringement case” and added that the estate was “happy that it ended on satisfactory terms”.
According to the settlement agreement, the developer Matthew Jensen promised to close the tokens and delete any content that infringed the property’s trademark rights to JRR Tolkien’s name and intellectual property rights. Lord of the Rings with Hobbit.
The agenda of the winter meeting of the Indian Parliament includes a bill to ban “private cryptocurrency”
According to local media reports, the Indian government will include the “Official Digital Currency Act on Encryption and Supervision” as part of 26 bills next Monday.
The bill proposes to ban “all private cryptocurrencies” with the exception of assets “in order to promote the basic technology of cryptocurrencies and their uses,” which is said to be part of an initiative to pave the way for the creation of official digital currencies from cryptocurrencies. government.
In March 2020, the Supreme Court of India overturned a comprehensive ban on cryptocurrencies imposed by the central bank two years ago, but local media said that the government is currently looking for alternative ways to regulate the industry, rather than a complete ban.
The legendary Spanish football player and former FC Barcelona star Andrés Iniesta received this week from the Spanish financial regulator Comisión Nacional del Mercado de Valores (CNMV) regarding his comments on the Binance cryptocurrency exchange. Propaganda warning.
On Wednesday, Iniesta posted some photos of himself on Twitter, pretending to be using a laptop, with the Binance homepage on it, with the headline: “I am learning how to start using Binance for encryption.”
In response, CNMV wrote: “Hi, Andres Iniesta, because it is an unregulated product, there are some major risks to crypto assets.” It is not clear how much this news affects Iniesta. Troubled, because it is likely to be a paid promotion for Binance.
Best Cointelegraph features
Security is necessary to protect encrypted users, but regulators may force companies to adopt processes that stifle innovation.
Nike intends to sell you digital products in Metaverse, and you will buy them because Nike knows how to make you want them.
To provide advice to clients involved in the DeFi field, don’t you want to let a technically literate lawyer understand blockchain and its related legal issues?