Crypto Headlines for Nov 9, 2021

  1.  Bitcoin Shoots Above $65,000 as Ether, Dogecoin, Polkadot, Other Crypto Coins Begin Week in Green 

Bitcoin’s price trends are bullish, its dominance on the overall crypto market continues to dip, which experts believe to be a positive sign for altcoins. Bitcoin (BTC) prices haven’t had considerable movement in the past week but the world’s oldest cryptocurrency has begun this week with a strong start. With cryptocurrency adoption rising globally, Square reported a nearly 60 percent rise in third-quarter gross profit on Thursday, fueled by a jump in Bitcoin transactions on its peer-to-peer payment service Cash App. Cash App generated $1.82 billion (roughly Rs. 13,509 crore) in Bitcoin revenue, up 11 percent from a year earlier.

The rally in Solana’s price comes after the platform’s investment arm, Solana Ventures, announced its participation in a new $100 million fund to boost blockchain gaming. Solana, seen as a competitor to Ethereum, hit an all-time-high of $260 on November 7, to become the fourth-biggest cryptocurrency in the world. Solana flipped Cardano on November 2 and has been continuing its upwards trajectory ‘to the moon’, aiming for Ether — the token which powers the Ethereum blockchain. However, there is still a $526 billion market value difference between the two.

With a volume of 1,237.15 ETH, CryptoPunks is at the top in the NFT (non-fungible token) Collections list and has increased 21.56 per cent in the last 24 hours, as per Ethereum (ETH), one of the biggest and oldest cryptocurrencies, crossed its all-time high on November 8 and was trading at $4,730 at the time of filing the report, as per data shared by crypto exchange Bitbns. On the other hand, meme coins have been relatively quieter this week. Shiba Inu(SHIB) is down 5 per cent in the last 24 hours and Dogecoin (DOGE) is down 1.14 per cent.

NFTs (or non-fungible tokens) are simply a way of making digital art unique, and therefore, also making it more valuable. Normally, digital art is very easy to replicate due to the very nature of digital information. So, crypto art (using NFTs) is a way of making digital files one-of-a-kind. With its numerous and unique applications, the fact that only simple images are popular right now shows that the full potential of the technology is yet to be explored. You need a crypto wallet and cryptocurrency, mainly Ethereum, to transact. You can sell NFTs for cryptocurrency or fiat money through smart contracts, and the transfer is recorded on a block chain.

Karma Points are awarded to Reddit users if their post threads gather votes. By transforming these Karma Points into ERC-20 tokens, the platform aims to move its 500 million users onto the Web3.0 – which is the progression of the Internet we know today. Social networking platform Reddit seems to be catching up with the crypto culture and is likely to join contemporaries like Facebook on the next chapter of the Internet revolution. The platform is planning to offer Ethereum-based crypto tokens to people with specific numbers of Karma Points.

 Popular crypto exchange Coinbase announced that eligible U.S. customers can now borrow loans of up to $1 million using Bitcoin as collateral. Individuals can borrow up to 40 percent of the value of their BTC, with no credit checks or fees involved, and funds can swiftly be transferred to attached PayPal or bank accounts. Also, McDonald’s is creating its first-ever non-fungible token in honor of the McRib’s 40th anniversary. With Unstoppable Domains choosing Polygon as a layer 2 solution, from November 15th you will be able to claim NFT domains without paying any claim, renewal or gas fees.  

The metaverse is a rebranding of multiuser environments, from massive multiplayer games, through the likes of Second Life, which can be looked at as enhanced chat environments, virtual realities or online virtual worlds. Online environments, even the vaguest ones, are compelling, and games are the most compelling of all of them for the audience prepared to give them a lot of attention. In pay to win games, players prepared to spend big money can beat all comers by buying advantages. Such games tend to rely on “whales” who are prepared to spend thousands to play and win.

 Nestcoin wants to expose Africans to the benefits and possibilities of Blockchain.

However, the idea for Nestcoin was in the works for a while and can be traced to a time when Bademosi knew next to nothing about crypto. Yele Bademosi, Founder and former CEO of crypto and cash payments company, Bundle Africa, revealed that his first contact with cryptocurrencies was in 2014. He met someone who had gotten Bitcoin as a gift, and he wanted to know what it was. He did some research but still didn’t give it much thought until 2017, when his Twitter feed was agog with this money-making phenomenon — Bitcoin.

NFTs are taking the world by storm, and they seem like a perfect match for another blockbuster trend that began trending across the planet decades ago: anime. Anime has developed a massive global following and has also spawned a gigantic demand for collectibles that revolve around popular animated characters from manga (graphic novels), video games, TV shows, and movies. Hinata ($HiNATA) is introducing a platform where anime digital art and physical collectibles can thrive on the blockchain through NFTs. In short, Hinata is building a blockchain-based community for anime otaku (superfans) and NFT enthusiasts alike.

  1. The VetCoin Foundation Announces the Sale of VetCoin for November 11, 2021 

The VetCoin Foundation announced today the public sale of VetCoin, a new cryptocurrency designed by veterans to harness the power of cryptocurrency to connect, enable, and transform veteran communities. VetCoin is an ERC-1155 token on the secure Polygon blockchain which uses a proof-of-stake mechanism to ensure security and transparency as a layer 2 solution to help scale the Ethereum network. Every year on Veteran’s Day, VetCoin will recognize the most innovative Veteran’s Charity in America with the “Burell Award for Outstanding Support to the Veteran Community.”