Welcome to the 69th edition of ‘The Digital Asset Digest’. Today, we’re taking a look at how network effects are making NFTs stickier, and outline the best 3 online courses where you can learn about crypto.
‘Elon Musk on Monday highlighted efforts put forth by the developer community scaling up Dogecoin’s technology in response to a community member’s tweet, terming it as “important.” ‘
“In a recent statement, Appen – the global AI-assisted data annotation platform – announced that it will be acquiring a 100% share in Quadrant – a mobile location data provider.”
“Balancer Protocol announced today that it has launched its network on Arbitrum to reduce high transaction fees and scale DeFi liquidity.“
Source: The Block
“Syndicate, a decentralized finance (DeFi) organization focused on investing, has announced a $20 million Series A fundraise.“
“Mass media holding company iHeartMedia is planning to distribute free nonfungible tokens, or NFTs, in partnership with sustainable NFT platform OneOf — a campaign that could introduce more music lovers to digital collectibles.”
INDUSTRY WIDE SNAPSHOT
After a brief dip, non-fungible tokens (NFTs) have regained momentum. Transaction volumes on NFT marketplace Open Sea recently crossed a record-high $1.5 billion last month. This sector of the digital assets industry is attracting more talent, investors, corporate interest, and capital than ever before. It seems likely it’s here to stay for good.
The underlying driver of this growth could be the same phenomenon that made social media platforms so successful: network effects. Here’s a closer look at how the network effects of NFTs are making them stickier.
EXPLORING NEW IDEAS
Bitcoin and digital assets are increasingly mainstream, but there’s still plenty of people wondering what is crypto and how the underlying blockchain technology works. Over the years the industry has diversified and become undeniably complex. From non-fungible tokens (NFTs) to decentralized finance (DeFi), the space is constantly evolving and difficult to keep up with.
If you’re looking to start from scratch and learn the basics, here are the top three online courses that can help you.
TOKEN OF THE WEEK
Gnosis is a blockchain project that offers a platform where people can create markets for speculating on any event or any arbitrary outcome. The open-source, decentralized prediction platform is built on top of the Ethereum protocol.
A snapshot of Bitcoin’s spot price as of this writing is $47,804.63 representing 0.40% increase over night and 19.76% increase in trading volume. The 30- day volatility of BTC is 44.99%. Bitcoin remains the top cryptocurrency trading with a support at $45,300 and resistance at $50,000.
ETH is trading at $3,426.70 as of this writing, representing a 24-Hour increase of 8.04%, and 30-day volatility of 50%. Over the last 24 Hours, the trading volume increased by 98.29%. As of today, ETH holds 19.12 % of the cryptocurrency market, making it the second-largest coin traded.
THIS WEEK’S DEEP READ
“Close to half a billion dollars worth of ethereum has been burned in less than a month as the crypto currency reaches the milestone of removing from circulation about 0.1% of its total supply in circa 25 days.”
And that’s all for this week! As a final note, we just released a new report on Decentraland in conjunction with Metaverse Properties. You can download it here.