Crypto Headlines Nov 16, 2021

  1. Little-Known Cryptocurrency KoKoSwap Gains 70,000% In A Day. What’s Driving Its Stunning Surge?  

Every now and then a little-known cryptocurrency is popping out of nowhere and showing an incredible appetite to grow, beating the surging rate of some of the more popular coins. KokoSwap is one such crypto coin. It has reported a mind-boggling 71,000 percent growth in just 24 hours recently, data from CoinMarketCap, a market research website, showed. On November 10, KokoSwap jumped from $0.01005 to $7.22. KokoSwap is a decentralised platform that combines NFT trades with blockchain gaming. On the platform, a person can trade, invest, play, etc. The token of KokoSwap is KOKO.

Solana is a blockchain platform that allows for developers to make new apps – whether it is for decentralized finance or the creation of non-fungible tokens. It now has 1.3 million active accounts and has processed 38 billion transactions, according to the company’s presentation at their Breakpoint conference in Lisbon last week. Solana’s gift to the crypto “dapps” creating universe is that it is more scalable than Ethereum and the “gas price” is cheaper. Because of this cost basis, the ecosystem is exploding. If Ethereum was a real gasoline station, inflation at the pump would be higher than the presid.

The BANITY collection will launch on the Ethereum blockchain as the first-ever NFT collection of Bitcoin vanity addresses. BANITY starts in a presale from November 25th, where users can create their own vanity address, and will officially go live at the time of minting on December 15th.Investing in BANITY means buying a Bitcoin vanity address and selling it for more than your purchase price, all without revealing any information about its private key. Holding a BANITY, gives the owner the right to unlock the private key of the valid Bitcoin address when redeeming the token.

The account called itself Gabagool.Ξth featured a fuchsia nebula as a profile picture. It called out what it saw as foul play in decentralized finance, or DeFi—a galaxy of blockchain-based apps providing cryptocurrency lending and exchange services. In May, a service called Ribbon carried out such an airdrop, doling out 30 million Ribbon tokens to 1,620 wallets. On October 8, Gabagool spotted something suspicious. A cluster of 36 wallets that had received the Ribbon tokens had swiftly exchanged them for the popular ether cryptocurrency, then transferred the ether to one cryptocurrency wallet.

Crypto launchpads, often referred to as IDO platforms, are platforms for launching new coins, crypto projects, and raising liquidity. As the project starts achieving results, the implications of its success could increase the value of these coins and tokens, resulting in profits for early contributors. If you research from top-to-bottom, be sure to find the best projects in the initial stages. Due to the project’s blockchain-based approach, people from various backgrounds can contribute. Successful IDO platforms include GameFi, Seedify, Starpunk, TrustPad and DAO Maker. Launchpads provide regular investors the opportunities that were previously only available to venture capitalists and other large-scale investors. 

NFts are digital assets that act as secure proof for ownership of an item or items in a collection stored on specific blockchain ledgers. An NFT is a non-fungible token that cannot be reproduced or changed. When you buy NFTs, you need a digital wallet where you can store your cryptocurrency. Most NFTs are currently purchased with Ethereum network’s currency (ETH). Fortunately, ETH can be easily converted into U.S. There are many marketplaces to purchase NFTs, which we will get into later, and most often, NFTs are auctioned off. So, you put in a bid, and the highest bidder receives the NFT. However, the are some marketplaces that offer a fixed price for the NFT.

Mastodon, the federated social networking service that allows users to create their own private networks, made it clear that it won’t be incorporating support for non-fungible tokens or NFTs on its platform. Mastodon is a registered non-profit organisation and intends to stay that way. Although often seen as an alternative to most of the more popular social media platforms, Mastodon is certain about its anti-NFT stance, contrary to the likes of Twitter and Facebook who have hired entire teams to look into tech innovations in the crypto space.

CryptoPunk #800 just sold for 137.95 ETH ($642,940 USD). The value of CryptoPunks is typically determined by Punk’s attributes, with the hoodie, beanie, and pilot helmet traits being the most coveted. CryptoPunks are a generative art collection, and one of the first ever applications of NFTs for digital art. There are only 10,000 Punks in existence, and some of them are thought to be lost forever. CryptoPunks have earned huge influence in 2021, with dozens of Celebrities proudly showing off their punk ownership on Twitter. Cryptopunk sales are a leading indicator for the rest of the NFT market, and go to show that some are willing to spend serious coin on blockchain based art.

The SEC remains unwilling to approve a spot bitcoin ETF, leaving investors with two options: dive into the wild world of bitcoin futures, or kick the tires on a fund that tracks digital assets, like the VanEck Digital Transformation ETF (DAPP). DAPP offers exposure to growth, disruption, and innovation. It fits nicely into an alternative sleeve and could also be a core-satellite allocation. Advantage that holding DAPP has over just getting physical bitcoin is that DAPP’s investments are in companies that are generating cash flow. Another big advantage that DAPP has is that its holdings aren’t yet common benchmark holdings, meaning that it will have low correlation to the broader market.

  1.  WAX Price: Why is Worldwide Asset eXchange (WAXP) Going Up? 

Worldwide Asset eXchange (WAX) is one of the top leading performers in the cryptocurrency market at the moment. It is a blockchain and protocol token specifically designed to make e-commerce transactions safer, easier and faster for all participants. The WAX coin has rallied by more than 300% over the past three months thanks to the Worldwide Asset eXchange’s strong performance in the NFT space and could touch the $1 mark over the coming days or weeks. TheWAX has developed a suite of blockchain-based tools that supports a wide range of decentralized applications, marketplaces and native nonfungible tokens (NFTs). It is one of the top performers in the cryptocurrency space, thanks to the high demand for NFT-focused coins and tokens.