Sales of NFTs powered by Solana also declined, falling 21.16% to $39.84 million, followed by Ethereum. Bitcoin and Solana are followed in terms of NFT sales by Polygon and Mythos. Sales on Polygon fell to $8.23 million, a decrease of 20.23%, while Mythos managed to reverse the trend, showing an increase of 11.43% to $6.23 million. The number of NFT buyers, in contrast, fell by 80.74%, and the number of sellers decreased by 78.71%. Ethereum led the way over the past seven days, accumulating sales volume of $148.49 million, while Bitcoin sales volume was $52.97 million. It turns out that NFT sales on Ethereum increased by 99.08%, while on the Bitcoin network they fell by 20.67 %.#BTC #Write2Earn #NFTnews $BTC $SOL

The pressure on Bitcoin and the broader cryptocurrency market is beginning to ease. This is stated in the weekly review of digital assets presented by Coinbase analysts.

A key factor in favor of reducing technical factors for the weakening of Bitcoin is the completion of sales of shares of the Grayscale fund by asset managers of the bankrupt FTX exchange.

A favorable factor that can contribute to the growth of the value of Bitcoin is the continued interest in spot BTC-ETFs. Since their launch on January 11, they have had net inflows of $1.46 billion. Over the past week, an average of about $200 million was received every day.
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Happycoin.club - In the new year 2024, transaction fees on the Bitcoin network still cannot be called low, but they have not reached the peak of mid-December 2023. By comparison, on December 17, 2023, the average transaction fee rose to $37.67, and in the first five weeks of 2024, the average fee stabilized at $9.39.

The peak for this indicator occurred on January 2, when the average cost of a transfer was $17.32. Additionally, the data shows that the lowest average fee in 2024 fell to $3.68 on Jan. 28.

Median fees on the Bitcoin network determine the central value in the data set of daily transaction fees and provide a more accurate estimate of typical user spending, avoiding distortions caused by single spikes

In 2024, the average median BTC transaction fee will be $4.02, with January 14th being the day with the highest fee of $10.28 per transfer. The day with the lowest average fee was January 27, when the value dropped to $1.67 per transaction.
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A failure in the Solana blockchain led to a drop in the value of the native token of the SOL network by 4%, Coindesk reports.

At approximately 12:50 Moscow time, the network stopped processing new blocks of transactions. According to the developers, who published details of the incident, the failure occurred due to an overload of one of the Solana blockchain subnets. They called on the validators who ensure the network operates to update the software to the new version.

SOL/USDT chart on the Binance exchange. Source: TradingView
As Coindesk experts noted, the drop in the value of the Solana token is due to a network failure, as a result of which the processing of new blocks was suspended for more than five hours. The asset price dropped to $93.
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Markus Thielen considers the right moment to start “bullish” bets when the first cryptocurrency breaks through the price level of $43 thousand.

Markus Thielen from 10x Research allowed Bitcoin to rise above $52 thousand by the end of the first quarter of 2024, writes CoinDesk. The analyst, who predicted Bitcoin's recent decline to $38,000 in mid-January, believes that a slowdown in the outflow of funds from the Grayscale Bitcoin Trust (GBTC) and advertising of a Bitcoin ETF on Google could contribute to further growth in the price of the first cryptocurrency.

In his forecasts, Thielen uses Elliott theory, which suggests that asset prices move in waves. According to this theory, a trend develops in five waves, of which the first, third and fifth are “impulse waves” of the main trend. The rest are “pullback waves,” meaning a temporary stop in the main trend.

According to Thielen, Bitcoin has been in this “wave” pattern since the beginning of last year, and the recent depreciation from $49 thousand to $38.5 thousand represents the fourth wave, that is, a temporary pullback. Now the fifth wave has begun, which can raise the price of Bitcoin above $52.6 thousand.
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Bitcoin price fell below $43,000

During the week, the first cryptocurrency was trading in a range from $42,000 to $44,000. At the time of writing, Bitcoin is valued at $42,900.

Snimok-ekrana-2024-02-04-v-18.50.00
BTC/USDT hourly chart of the Binance exchange. Data: TradingView.
Most of the top 10 digital assets by capitalization ended the week in the green zone. However, XRP lost 3.3%.

Snimok-ekrana-2024-02-04-v-18.50.28
Data: CoinGecko.
The total capitalization of the cryptocurrency market is $1.72 trillion. Bitcoin dominance index - 52.5%.
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The blockchain game SHRAPNEL has gone on sale on the Epic Games Store in the "early access" format, which will open on February 8, 2024.

Developer Neon Machine positions SHRAPNEL as a "highly competitive AAA shooter developed by veterans of the gaming industry." The team includes former employees of well-known industry companies Xbox and Electronic Arts.

The game allows you to earn real money by winning prizes and selling in-game items on the blockchain. Players can own assets such as cards, call signs, skins in the NFT format.

SHRAPNEL uses the Avalanche network. Users can connect external crypto wallets - MetaMask or Ledger - to store digital items on their own.