• The Wrapped CryptoCats Official collection is a non-fungible tokens collection built on the Ethereum network.
• The market capitalization of Wrapped CryptoCats Official NFT collection is 0 ETH.
• It is difficult to determine whether NFTs from the Wrapped CryptoCats Official collection is overpriced or underpriced.
What is an Wrapped CryptoCats Official?
Wrapped CryptoCats Official are a non-fungible tokens collection built on the Ethereum network launched in 14 March, 2021. 315 items of the Wrapped CryptoCats Official collection can now be viewed at OpenSea.
How many owners does the Wrapped CryptoCats Official collection have?
The total number of owners has reached 160 within 731 days since its release.
Price and Sales
The market capitalization of Wrapped CryptoCats Official NFT collection is 0 ETH. Since created the Wrapped CryptoCats Official, 273 collections sales were made at an average price of 4.47 ETH (~$7,437.49 at the time of writing). This created a total volume in 1,219.497 ETH. The floor price of Wrapped CryptoCats Official is 3.25 and the 30-day trading volume is kept at 4.49 ETH. The payment tokens of the Wrapped CryptoCats Official collection are ETH, DAI, WETH, USDC.
Why are some NFTs expensive and others not?
NFTs are very new to the blockchain ecosystem and are still in their infancy. It is an emerging market meaning there is no historical data or precedence that can assist in determining the value of an NFT. NFT projects that started at the beginning of the market boom have garnered legitimacy purely because they had a first-mover advantage. These „established“ NFT projects have also had the opportunity to improve and learn from the issues that have plagued the NFT market and have, in such a way, made themselves more valuable When the NFT boom took flight, many people realized profits beyond their wildest dreams creating a space for opportunists to take advantage ofthe market growth While some NFTs can be considered digital art created by artist who recognises te value NFTS can add to te creative space others hav been made purely outof greed nd need to exploit te immense maket grwth NFt project tat stem form greed end exploitation often hve no value nd re ultimately garbage
Is TheWrappped CrytoCat Officil Collection Over r underpried
It s diffcult o deterine wheter NFTS fro th wappedCrytoCat Officil colection s overpriced or underpricd Makng suctssessment willbecom clearer whn t mrketfor NFtsnd metvers develps morectvely Te price ls influencby how te Wrpp Cat Oicialcolecon s develope ad promoted by ts cretor nd commuity
• Bitcoin has lost around 10% of its value since yesterday
• Bank woes are causing the crypto market to sell off
• Ethereum is being claimed as a security by the New York Attorney General
Bitcoin Price Drop
Bitcoin has dropped significantly in value, losing around 10% of its worth since yesterday. This coincides with banks going under or teetering on the brink of failure, such as Silvergate and Signature Bank. SVB Financial Group saw its shares fall more than 60%, which could put an important long-term driver of the economy at risk. VC-backed companies rely on this bank for loans and holding their operating cash, so a government bailout may be necessary if no private capital solution can be found.
Kucoin Under Fire
The New York attorney general has sued Kucoin for alleged illegal activities including the offering of securities and commodities. Furthermore, $1 billion worth of bitcoin was recovered from a dark web hack, and transferred to Coinbase and government-controlled wallets. The sale of these bitcoins will add even more downward price pressure to an already volatile crypto market. At time of writing, bitcoin is currently valued at $19,600 – potentially falling even further to the 61.8 Fibonacci level at $19,200. Sunday’s weekly close will be very significant in determining where bitcoin might go next.
Ethereum Security Claimed
Ethereum is not exempt from problems in the crypto sector either; it too is experiencing a downturn due to being claimed as a security by the New York attorney general in relation to the Kucoin lawsuit. The statement argued that ETH is just like LUNA and UST in terms of being a speculative asset that relies on third-party developers for profits for holders of ETH tokens.
This article should only be used for informational purposes, not as legal, tax investment financial advice or any other kind advice related to cryptocurrencies
• Near Protocol announced that it is shifting to become a Blockchain Operating System (BOS).
• BOS is a common layer for „browsing and discovering open web experiences, compatible with any blockchain.“
• It will operate as a product-first platform that developers can build on and users can participate in as a single space.
Near Protocol Shifts Focus to Become Blockchain Operating System
Near Protocol, a sharded, proof-of-stake, layer-one blockchain, has announced that it is transitioning its focus from being a layer 1 blockchain to becoming a “Blockchain Operating System” or BOS. According to Near, this shift marks an important move towards creating user-centric experiences in the Web3 space.
What Is Blockchain Operating System?
The protocol describes BOS as a common layer for „browsing and discovering open web experiences, compatible with any blockchain.“ With the system, users will gain access to the protocol’s suite of operations platforms and utilities, including asset creation and management, smart contract implementation, composable decentralized applications, as well as developer tooling and socialization features.
Benefits Of The Blockchain Operating System
With the introduction of BOS on Near Protocol’s platform, developers benefit from pre-built frameworks and libraries for user profiles, payments, notifications and platform search without having to host on localized servers or cloud containers. This allows them to quickly build improved apps while leveraging existing components without having to start from scratch. Additionally, users now have an easier way of navigating through various Web3 products with one entry point.
Implications Of The Transition To A Blockchain OS
This shift by Near Protocol signals that developers are increasingly looking for ways of taking advantage of pre-existing components rather than starting everything from scratch each time they want to create something new. Moreover it reflects how developers are constantly trying innovate their products so they can better serve their customers needs while also utilizing resources more effectively.
Overall Near Protocol’s transition into becoming a Blockchain Operating System provides an opportunity for developers who are looking for an alternative way of creating decentralized apps without having to do everything from scratch every time they launch something new. Moreover it serves as efficient entry point where users can find all their favorite Web3 products in one place.
• Ethermon is an NFT collection built on the Ethereum network, with 53,490 items viewable at OpenSea.
• It has 12357 owners since its release and a market capitalization of 139.07 ETH.
• Reasons for NFTs being expensive or not vary from project to project, but it is difficult to determine whether the Ethermon collection is overpriced or underpriced.
What is an Ethermon?
Ethermon are a non-fungible tokens collection built on the Ethereum network launched in 30 August, 2018. 53,490 items of the Ethermon collection can now be viewed at OpenSea.
Owners & Market Cap
The total number of owners has reached 12357 within 1639 days since its release. The market capitalization of Ethermon NFT collection is 139.07 ETH. Since created the Ethermon, 2,718 collections sales were made at an average price of 0.07 ETH (~$105.82 at the time of writing). This created a total volume in 180.058 ETH. The floor price of Ethermon is 0.0014 and the 30-day trading volume is kept at 0.33 ETH and payment tokens include ETH, DAI, WETH and USDC..
Why are some NFTs expensive?
NFTs are very new to the blockchain ecosystem and are still in their infancy so there is no historical data or precedence that can assist in determining values of them yet.. Projects that started at the beginning have garnered more legitimacy purely because they had a first-mover advantage and also had opportunities to improve their projects from issues that have plagued these markets creating more value for them as well as opportunistic projects taking advantage of this market growth which may not hold any value apart from exploiting it’s immense growth potential .
Is the Ethermon Collection Over or Underpriced?
It is difficult to determine whether NFTs from the Ethermon collection is overpriced or underpriced due to it being such a new market with no historical data available yet . The price would depend on how it’s developed by its creators and community which will become clearer when metaverses develop more actively .
Fees & Examples
The fees associated with buying/selling an etheron consist of buyer/seller fees to developers (0 – 500 basis points) and OpenSea (0 – 250 basis points) respectively , resulting in a total fee for buyers/sellers as 750 basis points each . Some examples include # 2 , #3 Palytidy ☀ Dynasun ☀
• Bankman-Fried’s $250M bond is deemed a ‚joke‘ by securities lawyer.
• US government is cracking down on the crypto industry with a flurry of actions.
• OpenSea has gone zero-fee and Bitcoin, Ethereum, Ripple and Litecoin saw drops in their last sessions.
Bankman-Fried’s Bond Deemed a ‚Joke‘
Securities lawyer James Murphy, founder of Ludlow Street Advisors, declared Sam Bankman-Fried’s bail terms to be „ludicrous“. He said that no real money was used for the $250 million bond, only the promise of it should Bankman-Fried flee the country.
US Government Cracks Down On Crypto Industry
Cryptocurrency entrepreneurs had hoped that 2023 would provide a new beginning after a tumultuous year. However, they have been faced with an aggressive government crackdown instead, with many companies being targeted by the SEC.
OpenSea Goes Zero-Fee
The leading non-fungible token marketplace OpenSea stated it will be temporarily eliminating its marketplace fee in order to compete with popular no-fee marketplace Blur.
Bitcoin Drops 0.4% In Last Session
The Bitcoin fell 0.4% against the Dollar in the last trading session . The RSI gave a positive signal with support at 24242.3333 and resistance at 25048.3333 . The RSI is currently in positive territory .
Daily Economic Calendar: EMU Consumer Confidence & NL Consumer Confidence Adj. h2 >
Today’s economic calendar includes releases such as Eurozone’s Consumer Confidence at 15:00 GMT, Dutch Consumer Confidence Adj at 05:30 GMT and Finland’s Consumer Price Index at 06:00 GMT . A high level of consumer sentiment is bullish for the overall economy .
• The cryptocurrency market is extremely volatile, making it difficult for investors to confidently invest in the long run.
• The current SEC stance on crypto has made the market even more uncertain and caused a midpoint between $25,000 and $17,600.
• U.S CPI data due out Tuesday may decide which direction the crypto market takes next.
Crypto Market Volatility
The current crypto market is characterized by violent ups and downs that can have many investors feeling uneasy about their investments in the long run. This ‘choppy seas’ environment is normal for cryptos as they search for strong foundations to bring about a new bull market.
The US Securities and Exchange Commission (SEC), led by Chairman Gary Gensler, is attempting to quench the enthusiasm of innovation brought about by cryptocurrency with recent moves such as shutting down staking operations on Kraken exchange. Such actions have caused an overall sense of uncertainty in the market, leaving bitcoin at a midpoint between $25,000 and $17,600.
U.S Inflation Data Impact
The upcoming release of U.S inflation data this Tuesday could be a major deciding factor in where the crypto markets go next – should it print higher than expected then it could lead to short-term stormy seas; however if it prints lower than expected then expect smoother sailing ahead with bitcoin and altcoins rising accordingly.
Despite these choppy waters, altcoins have seen consistent growth since January 2021 with a peak at $390 billion market cap before reaching its current level at around $351 billion – suggesting that some kind of correction was necessary during this period of fluctuation.
Ultimately what happens next for cryptocurrencies remains largely unknown but investors should remain aware that inflation data due out soon could be decisive in determining where markets move next – either towards calmer or more turbulent waters
• CoW Swap, a decentralized finance platform, suffered from a multisig attack on its settlement smart contract.
• Blockchain security auditing firm PeckShield and BlockSec, a smart contract auditing firm, both confirmed the exploit.
• The threat actor used access gained through the multisig to trigger the settlement smart contract and drain 550 BNB into Tornado Cash.
CoW Swap Suffers Multisig Attack
CoW Swap, a decentralized finance platform over which CoW (Coincidence of Wants) Protocol is built, has recently suffered from a multisig attack on its settlement smart contract. This was initially disclosed by MevRefund, a blockchain security researcher and whitehat hacker who noticed funds being moved away from CoW Swap’s protocol.
Security Auditing Firms Confirm Exploit
Blockchain security auditing firm PeckShield later confirmed the exploit and released details of it on Twitter. According to their analysis, an attacker had tricked the GPv2Settlement contract to approve SwapGuard for DAI spending and then triggered it to transfer out DAI from the GPv2Settlement account. BlockSec also provided further details regarding how the threat actor added his wallet address as „solver“ via the multisig in order to gain access to the protocol.
Threat Actor Moves Funds To Tornado Cash
The threat actor was then able to use this access to trigger the settlement smart contract and drain 550 BNB into Tornado Cash – a crypto anonymity funnel that enables users to mask transactions making it harder for anyone else to trace them.
CoW Swap Responds To Exploit
CoW Swaps team has not yet released an official statement regarding this exploit but they claim that they are already working on fixing it. They reassured users that their accounts would remain unaffected by this exploit given how user funds can only be signed through an order executed by a user themselves.
This article is provided for informational purposes only and should not be used as legal advice or other advice such as tax or investment advice.
• Michael Burry, legendary trader and investor, tweeted a single word “sell” ahead of the U.S. Federal Reserve’s interest rate decision.
• Burry is known for predicting the 2007-2010 subprime mortgage crisis, and his latest tweet could be interpreted as expecting a similar market situation triggered by the Fed rate decision.
• Given Bitcoin’s correlation with the S&P 500 and macroeconomic influence, Burry’s warning could also be sending a signal to crypto investors.
Just hours before the U.S. Federal Reserve’s interest rate decision today, legendary trader and investor Michael Burry issued a warning for the financial market that could affect Bitcoin and crypto as well. In a single word tweet – “Sell” – he seemingly signalled his expectation of a similar scenario to the 2007-2010 subprime mortgage crisis, which he had predicted.
Burry is a renowned figure in the investment world. He is famously known for shorting the mortgage bond market in 2007 by swapping CDOs and making big profits as a result. Already on January 23, Burry shared a chart of the market from the dot-com crash on Twitter and said “maybe.” He seemed to be circling a dead cat bounce, where the S&P 500 index rallied 20% over the turn of the year from 2001-2002 before falling another 30%.
Today’s latest tweet can be interpreted that Burry is currently expecting a similar scenario, presumably triggered by today’s announcement of the Fed rate decision in the U.S. and the subsequent FOMC meeting where Fed Chairman Jerome Powell will talk about the latest data and expectations.
Given Bitcoin’s correlation with the S&P 500 and macroeconomic influence, Burry’s warning could also be sending a signal to crypto investors. The S&P 500 and Bitcoin have rallied sharply from their lows since inflation data has come down sharply in recent months. However, an unexpected Fed decision could be a dagger.
While it remains to be seen whether Burry’s prediction will come true, it is crucial for crypto investors to pay attention to the news and current market trends in order to make informed decisions. The Fed’s interest rate decision and subsequent FOMC meeting will be closely watched, and any unexpected news could have significant implications for the cryptocurrency market.
• The crypto market rally is losing strength, causing significant cryptocurrencies such as Bitcoin, Ethereum, and Cardano to return to their support regions.
• Data from research firm Santiment indicates that Cardano is vibrating with development activity and ranks third in the metric according to the number of commits on the software development platform GitHub.
• Cardano (ADA) records a 38% rally over the past 30 days and is set to deploy a new upgrade for its proof-of-stake protocol, Ouroboros BFT.
The crypto market has been on a rally that is now beginning to lose strength. This has caused significant cryptocurrencies such as Bitcoin, Ethereum, and Cardano to return to their support regions. Data from research firm Santiment indicates that Cardano’s ecosystem is currently vibrating with development activity and is ranked third in the metric according to the number of commits on the software development platform GitHub.
Cardano, in particular, is showing some positive signs as it records a 38% rally over the past 30 days. The blockchain is set to deploy a new upgrade for its proof-of-stake protocol, Ouroboros BFT. This upgrade will bring a number of improvements, such as a more efficient consensus algorithm, faster transaction times, and better scalability. The new protocol will also bring new features and tools that will make it easier for developers to create applications and services on the blockchain.
The development of Cardano is being driven by the company IOHK and its team of experienced developers. IOHK is a leading blockchain research and development company that has been working on Cardano since 2015. They are primarily responsible for the development of Cardano’s proof-of-stake protocol, Ouroboros BFT, and have been working hard to ensure its success.
Cardano’s success is also bolstered by the strong community that has formed around it. This community is made up of investors, developers, and enthusiasts that are all dedicated to the success of the blockchain project. They have been actively sharing their knowledge and insights as well as providing feedback to the development team. This community has been instrumental in helping to spread awareness of Cardano and its potential.
With the upcoming upgrade to its proof-of-stake protocol, Ouroboros BFT, Cardano is well-positioned to continue its success in the crypto market. The blockchain has already seen strong growth in its development activity and its price, and with the new protocol, it is sure to attract even more attention. Cardano is a project to watch as it continues to make strides in the crypto market.
• Bitcoin short-term holder profit-taking has spiked, as seen by the „Spent Output Profit Ratio“ (SOPR) value breaking the 1 threshold.
• This could lead to a correction in the crypto’s price, as similar trends have been observed in the past.
• The STH cohort includes all investors who acquired their coins within the last 155 days.
The crypto market has been experiencing a lot of volatility in recent weeks, and on-chain data suggests that this could be due to short-term holders taking profits. According to an analyst in a CryptoQuant post, the Spent Output Profit Ratio (SOPR) is a relevant indicator here, as it tells us whether the average Bitcoin investor is selling their coins at a profit or at a loss right now. When the value of this metric is greater than 1, it means that holders as a whole are realizing some profits on their selling currently.
The STH cohort includes all investors who acquired their coins within the last 155 days, and a recent chart shows that the Bitcoin SOPR specifically for this cohort has surged and broken above 1. This suggests that short-term holders may be taking profits off their holdings, and that this could lead to a correction in the crypto’s price. Similar trends have been observed in the past, so this is something that investors should keep a close eye on.
It’s also important to note that long-term holders (LTHs) are not affected by the current trend, as those who have been sitting on their coins for more than 155 days are considered LTHs. These investors have a different strategy when it comes to trading, and are less likely to be influenced by short-term market conditions.
Overall, the recent surge in Bitcoin SOPR for short-term holders suggests that some investors may be taking profits off their holdings, which could lead to a correction in the crypto’s price. While this is something that should be monitored closely, it’s important to remember that long-term holders are less likely to be affected by short-term market movements.