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- The Crypto Compass Issue #27
The Crypto Compass Issue #27
NFT Royalties Hits Two-Year Low!? Read it in our weekly newsletter now! Brought to you by BitcoinWalletSG.
Hey Friends!
Welcome back to another edition of The Crypto Compass, your trusty guide through the turbulent seas of the crypto world.
NFT Royalties at a Two-Year Low
In the world of Non-Fungible Tokens (NFTs), royalties from NFT sales have hit a two-year low, according to recent data from Nansen. This slump indicates a significant shift in the NFT marketplace, suggesting that the initial hype may be cooling down. However, remember that the NFT space is highly volatile and trends can shift quickly. It's crucial to keep a vigilant watch for the next big wave.
BlackRock CEO Views Bitcoin as 'Digitizing Gold'
In more traditional finance news, BlackRock CEO Larry Fink expressed his perspective that Bitcoin could be seen as a mechanism for "digitizing gold." Coming from the head of the world's largest asset manager, this statement underscores Bitcoin's growing acceptance in mainstream finance. Could this hint at a potential shift towards more institutional adoption of crypto assets? Only time will tell.
Bakkt's Looking at Hong Kong, UK, and EU for Expansion
Bakkt, the digital asset marketplace, has set its sights on the international horizon. The company is eyeing expansion into Hong Kong, the UK, and the European Union as part of its ambitious global strategy. If successful, this could further reinforce cryptocurrency's global presence and accessibility, marking another milestone in the global adoption of digital assets.
Final Thoughts
It has been a pretty non-volatile week so far for crypto. Bitcoin and Ether has been trading within a tight range as most traders are waiting for more development on the bitcoin ETF approval.
Contrastingly, there was a liquidation spiral in many of the popular nft collections after the Azuki elemental mint, which extracted millions of liquidity from the community.
Stay tuned for next week's edition of The Crypto Compass, and as always, feel free to reach out with any questions or comments.
Stay curious and happy investing!
Best,
Punk5558
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