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🚀🚀🚀 #ElonMusk Weighs in on #NFT Technology — Here’s What He Thinks 🚀🚀🚀 Elon Musk commented on the structure of non-fungible tokens (NFTs), suggesting that embedding JPEG images into a blockchain establishes exclusive ownership. Responding to a question about NFTs, Musk playfully acknowledged concerns about NFTs being akin to "web links leading to data you don’t truly possess." NFTs, which gained attention during the 2021 bull market, typically use centralized databases to link JPEG images to unique non-fungible token hash IDs. Musk highlighted that investors hold these hash IDs, not the actual media content. Some #blockchain​ projects, however, directly embed NFT items into the blockchain. For instance, an NFT enthusiast encoded a video clip of Musk's remarks into an Ordinals Inscription on Bitcoin’s blockchain. Bitcoin Ordinals represent a fusion of NFT data inscription, introducing security and transparency to the NFT ecosystem on the widely recognized Bitcoin blockchain. A Coinbase report on December 14 indicated a significant shift in NFT activities towards the Bitcoin chain, suggesting growing interest in Bitcoin Ordinals for owning and exchanging digital assets in the NFT landscape. Source - Jimmy Aki @jimmy-aki Website - Cryptonews #CryptoNews🔒📰🚫 #BitcoinUpdate $BTC

🚀🚀🚀 #ElonMusk Weighs in on #NFT Technology — Here’s What He Thinks 🚀🚀🚀

Elon Musk commented on the structure of non-fungible tokens (NFTs), suggesting that embedding JPEG images into a blockchain establishes exclusive ownership. Responding to a question about NFTs, Musk playfully acknowledged concerns about NFTs being akin to "web links leading to data you don’t truly possess."

NFTs, which gained attention during the 2021 bull market, typically use centralized databases to link JPEG images to unique non-fungible token hash IDs. Musk highlighted that investors hold these hash IDs, not the actual media content. Some #blockchain​ projects, however, directly embed NFT items into the blockchain.

For instance, an NFT enthusiast encoded a video clip of Musk's remarks into an Ordinals Inscription on Bitcoin’s blockchain. Bitcoin Ordinals represent a fusion of NFT data inscription, introducing security and transparency to the NFT ecosystem on the widely recognized Bitcoin blockchain.

A Coinbase report on December 14 indicated a significant shift in NFT activities towards the Bitcoin chain, suggesting growing interest in Bitcoin Ordinals for owning and exchanging digital assets in the NFT landscape.

Source - Jimmy Aki @jimmy-aki

Website - Cryptonews

#CryptoNews🔒📰🚫 #BitcoinUpdate $BTC

Aviso legal: Se incluyen opiniones de terceros. Esto no representa asesoría financiera. Lee los TyC.
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👉👉👉 #HongKong investment banking giant launches first tokenized commercial paper on #Ethereum GF Securities, a leading investment bank in Hong Kong, has launched Hong Kong's first tokenized commercial paper on the Ethereum blockchain, marking a significant development in the digital asset landscape. This move underscores Hong Kong's position as a leader in integrating blockchain technology with traditional finance. Tokenization involves converting asset rights into digital tokens on a blockchain, aligning with the global trend of digitizing physical assets. ABT Tech, a Hong Kong-based blockchain firm, will provide technical support for this initiative. The issuance complies with regulatory guidelines set by the Hong Kong Securities and Futures Commission (SFC), established in November to regulate innovative financial instruments. Utilizing Ethereum offers benefits such as increased flexibility and independence for investors, allowing them to monitor and manage investments with greater autonomy. It also enables the creation of supplementary tools and solutions, democratizing investment access. Globally, Real World Asset (#rwa ) tokenization is seen as the next phase of crypto development, potentially unlocking trillions of dollars into the blockchain industry. According to a BCG report, tokenized assets could reach a $16 trillion market by 2030. Ripple, a U.S.-based blockchain payments company, is also exploring opportunities in tokenization, particularly in revolutionizing the real estate sector. GF Securities' move follows BOCI's partnership with UBS to issue tokenized notes on Ethereum in June 2023. Source - crypto.news #CryptoNews🔒📰🚫 #BinanceSquareTalks
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🔥🔥🔥 #MemecoinMadness is breaking the #BitcoinHalving cycle Observers note an unconventional trend in the current bull market, where liquidity appears to be bypassing traditional steps and flowing directly into memecoins, rather than first into Bitcoin and then into other high-capitalization coins like Ethereum. Described as the "weirdest" bull market on record by industry analysts, this cycle saw Bitcoin reach an all-time high prematurely, followed by a significant surge in memecoin activity. Chainlink's Zach Rynes, known as "ChainLinkGod," remarked on the unusual nature of this market trend to his large following on social media. Traditionally, bull runs witnessed a flow of liquidity into Bitcoin, then into Ethereum, and subsequently into other coins lower down the chain. However, in the current cycle, observers note a deviation from this pattern, with liquidity flowing directly from Bitcoin to memecoins, which is considered atypical. The memecoin market saw a substantial increase in total capitalization, reaching $70 billion, primarily fueled by pumps in newly launched tokens like Solana-based Dogwifhat and Book of Meme, as well as older memecoins like Pepe and Bonk. Additionally, Coinbase's #Layer2 network, Base, emerged as a hub for memecoin speculation, exemplified by the remarkable surge of the Base-native token DEGEN, which soared by an astounding 2,800% over the past month. Rynes highlighted that market fundamentals seem to be playing a diminished role currently, with attention focused more on specific narratives rather than real fundamentals. Ethereum educator Anthony Sassano echoed this sentiment, emphasizing that the current bull market is unlike any seen before in crypto history. He noted that retail participation is not significant until the entire market moves up together, rather than isolated sector-specific pumps driven by crypto natives rotating money within the ecosystem. Source - cointelegraph.com #CryptoNews🔒📰🚫 #BinanceSquareBTC
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🔥🔥🔥 Top 3 Price Prediction: $BTC whales position themselves for pre-#halving pump Bitcoin (BTC) price is on the verge of establishing a clear direction as the much-anticipated BTC halving event draws closer. Meanwhile, Ethereum ($ETH ) price is awaiting cues from Bitcoin, and Ripple ($XRP ) price is heavily influenced by ongoing legal developments. Whale Movements Ahead of Halving - In anticipation of the halving, large BTC holders have been making significant moves in the market. Notable whale activity includes: A whale transferred 1,000 BTC worth $68.54 million from #Bitfinex to a new wallet. Another dormant address with 500 BTC valued at $34.72 million was activated after 11.7 years. Additionally, 1,500 BTC worth $103.08 million were moved from one unknown #Wallet to another. Institutions and whales acquired 12,000 BTC primarily on Coinbase and Kraken, moving them to private wallets, contrasting small investors who sell during price spikes but buy during dips. Bitcoin Price Outlook - Bitcoin retested the March 27 low of $68,359, suggesting a possible end to the pullback. A rally towards $73,500 is possible if bulls seize momentum, with key supports at $67,651 and $67,302. Yet, a drop below $68,500 may intensify bearish pressure, targeting $63,500 before the halving event. Ethereum and #ripple Price Analysis - Ethereum's price faces resistance at the 50% Fibonacci level, indicating a potential downward trend towards $3,353 or $3,152 if Bitcoin's weakness persists. Ripple's price, on the other hand, remains above an ascending trendline but lacks bullish momentum, with support at $0.5783. A breakout above $0.6685 could drive gains towards $0.7000 and $0.7500. In summary: - BTC: Potential or a rally towards $73,500 if key support levels hold. - ETH: Bearish sentiment may lead to a drop towards $3,353 or $3,152. - XRP: Support at $0.5783 could be tested if selling pressure increases, while a breakout above $0.6685 may trigger further gains. Source - fxstreet.com #BinanceSquareBTC
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👉👉👉 #Ethereum Price Drops To Support, Another Chance To Load $ETH ? Ethereum faced rejection near the $3,650 zone and subsequently witnessed a decline, breaching the $3,500 support area. As a result, ETH is currently trading below $3,500 and the 100-hourly Simple Moving Average, signaling a bearish sentiment. A key bearish trend line has formed with resistance around $3,420 on the hourly chart of ETH/USD, sourced via Kraken. For ETH to regain bullish momentum, it must surpass the $3,450 resistance zone. Following the decline, Ethereum found support near the $3,320 level, where it formed a low at $3,324. Presently, it is attempting a recovery, with the price moving above the $3,360 level. However, the immediate resistance lies near $3,400, followed by the $3,420 level and the aforementioned trend line. Further resistance is anticipated at $3,450, beyond which the price might test the 50% Fib retracement level of the recent downward move from the $3,654 swing high to the $3,324 low. Subsequently, additional resistance levels to watch include $3,520 and the 100-hourly Simple Moving Average, which could pave the way for a bullish momentum towards the $3,650 barrier. On the downside, failure to clear the $3,420 resistance may lead to further downward movement. Initial support is expected near the $3,320 level, followed by the $3,250 zone. A breach below $3,220 could trigger a decline towards $3,120, with potential further losses bringing the price towards the $3,040 level. Technical indicators suggest a loss of momentum in the bearish zone, with the MACD for ETH/USD showing weakening, and the RSI dropping below the 50 level. In summary: - Resistance: $3,420, $3,450, $3,520, $3,650 - Support: $3,320, $3,250, $3,220, $3,120, $3,040 Source - newsbtc.com #CryptoNews🔒📰🚫 #cryptocurrency #BinanceSquareTalks
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🔥🔥🔥 Santiment Reveals Top #rwa #altcoins : #Chainlink Takes the Lead Santiment, a prominent financial market data platform, recently shared its analysis of the top Real-World Asset (RWA) coins in the cryptocurrency space. By examining GitHub activity and development frequency, Santiment has identified the leading RWAs based on their active projects and growth trends over the past 30 days. - Chainlink Emerges as the Leader According to Santiment's research, Chainlink (LINK) stands out as the frontrunner in the RWA sector, displaying more than triple the development activity compared to its closest competitors. Here's a closer look at Chainlink's significance and its trajectory: Despite recent bearish market conditions, Chainlink has demonstrated remarkable resilience. During the ongoing bull market, Chainlink has experienced significant growth, with LINK surging nearly 160% over the past year. This surge can be attributed in part to Chainlink's continuous development efforts, such as the introduction of Chainlink Automation 2.0. - Synthetix, Oraichain, and the Top 5 Following Chainlink, other top contenders in the RWA space identified by Santiment include Synthetix ($SNX ), Oraichain (ORA), Maker ($MKR ), and Dusk Foundation ($DUSK ), comprising the top 5. Oraichain (ORAI) is currently priced at $14.83, experiencing a 3.80% decline in the past week amidst the bearish market sentiment. However, ORAI reached its peak three years ago on February 19, 2021, hitting an all-time high of $105.76. Since then, it has retreated by 85.91% from its ATH. Other notable RWAs in the top 10 list identified by Santiment's analysis include Centrifuge, Plymesh Network, Bonson Protocol, Reserve Protocol, and Propy Inc. While each project may adopt different approaches to integrate real-world assets, collectively, these tokens have contributed to the growing intersection of blockchain technology and traditional assets. Source - coinpedia.org #BinanceSquareTalks #cryptocurrency
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