- Bitcoin and altcoins took a hit, but derivatives data reflects a calmer market
Bitcoin (BTC) price retraced 14.6% over the past week, effectively underperforming the broader altcoin market. Part of this unusual movement can be explained by the performance seen in decentralized applications which held up better than most of the market. Terra (LUNA) featured on last week’s top performers after its built-in token burn mechanism significantly reduced the supply. Meanwhile, Stacks (STX), previously known as Blockstacks, pumped after D’Cent wallet included support for SIP010 tokens.
- NFTs explained: Here’s why they’re not cryptocurrencies
NFTs are essentially digital tokens that carry data and are stored in an immutable blockchain ledger. Its main purpose is to represent assets and prove their authenticity and ownership. NFTs are not cryptocurrencies, although it is understandable to conflate the two. Unlike cryptocurrencies, NFTs do not innately possess monetary value — their existence is representative of items with varying monetary values instead. This is because popular cryptocurrencies such as Bitcoin and Ether are built on the same technology that NFTs are — blockchain.
- Ubisoft NFTs, called ‘Digits’, launch for in-game items
Ubisoft’s system – called “Digits” – will be offered as in-game items with one-of-a-kind serial numbers, which can be bought and sold. Non-fungible tokens have exploded in popularity, and are widely used for digital art collectibles. Ubisoft – famous for games such as the Assassin’s Creed, Far Cry and Rainbow Six series – is the most significant game developer and publisher to launch an NFT project yet. Its in-game NFTs will be stored on the Tezos blockchain, which it claims is far more energy-efficient than other options.
https://www.bbc.com/news/technology-59568929
- NFTs and cryptocurrencies replace cash as a new holiday gift
Cash in little wrapped boxes or tucked inside Hallmark cards is one of the most reliable and beloved gifts. But this holiday season, cash gifts are taking a new form as cryptocurrencies and nonfungible tokens, or NFTs. Nonfungible tokens and digital money are an alternative for the adventurous gift giver; here are some options and necessary steps. Giving digital money requires planning, though, as you can’t simply buy one of these assets and send someone a link. Instead, they need someone to have a digital wallet already created, through a provider such as Rainbow, MetaMask or Coinbase.
- Syscoin’s Smart Contract Chain Is Live
Syscoin is a decentralized and open-source project founded in 2014 whose NEVM upgrade combines the best of Bitcoin and Ethereum in a single coordinated platform. Projects Running on Ethereum can Migrate to the Syscoin Platform and Immediately Save Nearly 100% of their Transaction Fees. This unique approach to infrastructure has addressed the greatest criticisms aimed at Bitcoin and Ethereum alike. Thanks to merge-mining, their POW security is effectively a green energy solution, which recycles resources already being spent on Bitcoin’s gold standard security.
- WildWorks, maker of Animal Jam and Feral, angers fans with embrace of crypto gaming
Less than a year ago, WildWorks, the makers of the kid’s virtual world game Animal Jam, launched its next big effort with a game aimed at Gen Z teens, called Feral. But in recent days, the company has angered many of its core users with news that it’s reusing Feral’s technology platform and many of its assets to enter the crypto-gaming space with a metaverse game called Cinder, powered by the Solana blockchain. Already concerned about Feral’s pace of development and unfinished nature, players are now worried about what it means for Feral’s future now that the company has moved on to build a crypto gaming experience using Feral’s assets.
- CoinDesk Most Influential 2021
“Crypto” today means more than it did a year ago and much more than it did a decade ago. It takes in the future of money, the future of culture, perhaps the future as we know. It was a massive year for crypto: 12 months when long-held theses were validated and many once sci-fi concepts became relatively mainstream. Most Influential is CoinDesk’s recognition of this wide-ranging field of innovation. The top 10 (the “Most Influential”) are recognized for outstanding contributions across development, business building, regulation, gaming, art and investing.
https://www.coindesk.com/tech/2021/12/07/coindesk-most-influential-2021/
- 2 Reasons the Avalanche Blockchain Is Here to Stay
Avalanche has had an incredible 2021, emerging from obscurity to become the 11th largest cryptocurrency by market cap. Going forward, Avalanche could have more blue sky ahead of it as the blockchain’s momentum builds. It recently surpassed more established blockchains like Litecoin (CRYPTO: LTC) and Terra (CRYPTO: LUNA) as well as popular meme coins like Shiba Inu (CRYPTO: SHIB) in total market capitalization. It just climbed past the infamous Dogecoin (CRYPTO: DOGE) in market cap, and it didn’t need any help from Elon Musk.
https://www.fool.com/investing/2021/12/06/2-reasons-the-avalanche-blockchain-is-here-to-stay/
- Gate.io Becomes The Sixth Largest Crypto Futures Platform
Leading global digital asset exchange, Gate.io, has quickly become the sixth largest crypto futures platform in the world, having risen from fifteenth place just over two months ago. Gate.io allows users to trade on a platform that offers high liquidity and stability, having proven itself to remain operational even during turbulent market conditions. According to data provided by CoinGecko, Gate.io’s 24-hour crypto futures trading volume exceeded $7.1 billion, pushing the exchange to the sixth position worldwide in terms of trading volume.
- Sysorex Announces its Ethereum Holdings Now Valued in Excess of $6.5 Million
Sysorex (OTCQB: SYSX), the preeminent, U.S.-based, publicly traded Ethereum mining and technologies company, today announced its Ethereum Holdings are now valued in excess of $6.5 million. In November 2021, the Company purchased the remaining interests in its primary data center located in upstate New York. With 100% ownership of the data center, Sysorex has since increased its gigahash by approximately 10%. Wayne Wasserberg, CEO of Sysorex, commented, “Just this past August, we announced our new strategy of holding mined Ethereum known as Ether (ETH) in treasury rather than selling ETH for cash.”
