“Everything goes, everything comes back; eternally rolls the wheel of time” – Nietzsche, slightly adjusted. As the German philosopher knew, things often come back more than not. Class consciousness, ATHs in Bitcoin price, and memes themselves are examples of this eternal recurrence. There are several recent examples demonstrating this phenomenon:
1.
Blue chip NFTs: Many people have claimed that NFTs are dead. This might be true looking at trading volumes and floor prices of previous cycle “darlings”. Nevertheless, some outliers like Pudgy Penguins and Milady have experienced a surge in their floor prices in recent months. Both NFT collections have a memecoin, with Milady’s $CULT token reaching a $500 million market cap before falling back to $228.
Blue chip NFTs demonstrating resilience like these are likely to prompt further innovation in the industry. 2. Ripple: Not too long ago, XRP was best known for a never-ending lawsuit. With Trump’s election and speculation surrounding the SEC lawsuit, the price of XRP had rallied to $2.74 before the lawsuit was dropped in December 2019.
The launch of Ripple’s own USD stablecoin (RLUSD) stirred up excitement among “Ripple Army members”. Although the launch hasn’t been confirmed yet, one wallet has placed a bid of $1,224 on the first RULSD. The CTO reminds us that it’s a stablecoin and therefore the value is expected to stabilize around $1 quickly after its launch.
3. Quantum computing: A couple of years ago, every project claimed that quantum computers would doom the security algorithms of current blockchain technology. While most are dead now, the hype made a comeback recently when Google launched a “state-of-the-art” quantum chip called Willow. Although the quantum computing hype is unfounded, it offers an opportunity for innovation as long as quantum computers stay far off in the future.
Fact for the week: The first Christmas Card was designed in 1843 and later auctioned off for $6,800. The Victorian-era card featured a family enjoying their Christmas dinner. Disclaimer: UK residents are urged not to invest unless fully prepared to lose all investments. Cryptoassets on CoinJar are high-risk.
EU residents: CoinJar Europe Limited (CRO 720832) is registered as a VASP and supervised by the Central Bank of Ireland (Registration number C496731) for Anti-Money Laundering and Countering the Financing of Terrorism purposes only. CoinJar’s digital currency exchange services are operated in Australia by CoinJar Australia Pty Ltd ACN 648 570 807 (a registered digital currency exchange provider with AUSTRAC), and in the UK by CoinJar UK Limited (company number 8905988), regulated by the Financial Conduct Authority as a Cryptoasset Exchange Provider and Custodian Wallet Provider with Firm Reference No.
928767.
Source
