đ„ NFTs That Once Sold for MillionsâWhat Are They Worth Today?
The once-booming world of NFTs, which saw celebrities and investors alike pour millions into digital art, is now facing a harsh reality. As the hype fades, the values of these digital assets have plummeted, leaving many investors questioning their decisions.
- CryptoPunk #5822: A symbol of the NFT craze, CryptoPunks were among the most sought-after digital collectibles. In February 2022, CryptoPunk #5822 sold for a staggering 8,000 ETH, equivalent to $23.7 million at the time. Fast forward to today, and the value of similar CryptoPunks has halved. While 8,000 ETH would now be worth $26.6 million, the market value of the punk itself has dropped significantly, highlighting the volatility of the NFT market.
- EtherRock #93: An even more puzzling investment, EtherRock #93, a simple JPEG of a digital rock, fetched $1.8 million in 2021. However, today, similar EtherRocks are trading for around $750,000 to $800,000, representing a loss of over $1 million. The rapid decline in value serves as a stark reminder of the speculative nature of NFT investments.
- Bored Ape #8817: Perhaps the most iconic of all NFT collections, the Bored Ape Yacht Club was the epitome of digital art hype. Bored Ape #8817 sold for $3.4 million at its peak, driven by its rare gold fur. Yet, recent sales of similar apes show a dramatic decrease in value, with some selling for as low as $665,000. The dream of quick riches has turned into a sobering reality for many collectors.
- The Bigger Picture: While these high-profile NFTs have seen drastic drops in value, lesser-known collections have fared even worse. A report by dappGambl revealed that 95% of identified NFT collections now have a market cap of 0 ETH, leaving countless investors holding worthless digital assets.
Did you sell your NFTs at the peak or did you drive a significant loss?
Let me know in the comments!
#nft #nfts #byac #cryptopunks #OpenSeaMarket $BTC
Changpeng Zhao: A Beacon of Resilience Amidst Adversity
Changpeng Zhao (CZ), the enigmatic founder of the world's largest cryptocurrency exchange, Binance, has faced a series of challenges throughout his career. Despite being held in prison at one point, CZ has emerged as a resilient leader, navigating the volatile cryptocurrency market and expanding Binance's reach globally.
CZ's journey began in China, where he worked as a software engineer. Driven by a passion for technology and a belief in the potential of blockchain, he co-founded Binance in 2017. The exchange quickly gained traction, becoming a dominant force in the cryptocurrency industry.
However, CZ's success was not without its obstacles. In 2018, Binance faced regulatory scrutiny in China, leading to the closure of its domestic operations. Undeterred, CZ relocated the company to Malta and continued to expand its global footprint.
One of the most significant challenges CZ faced was his imprisonment in China in 2017. The circumstances surrounding his detention remain unclear, but it was a harrowing experience that tested his resolve. Despite the adversity, CZ emerged from prison determined to rebuild Binance and pursue his vision of a decentralized future.
Through his leadership, Binance has become a pioneer in the cryptocurrency space, offering a wide range of services, including trading, lending, and staking. CZ's strategic vision and innovative approach have contributed to Binance's success, making it a household name in the crypto world.
As Binance continues to evolve, CZ remains at the helm, guiding the company through the complexities of the cryptocurrency market. His unwavering commitment to innovation and his ability to overcome adversity have solidified his reputation as a visionary leader.
#CryptoMarketMoves
#CZBÄ°NANCE
#czprison
$BNB
Changpeng Zhao: A Beacon of Resilience Amidst Adversity
Changpeng Zhao (CZ), the enigmatic founder of the world's largest cryptocurrency exchange, Binance, has faced a series of challenges throughout his career. Despite being held in prison at one point, CZ has emerged as a resilient leader, navigating the volatile cryptocurrency market and expanding Binance's reach globally.
CZ's journey began in China, where he worked as a software engineer. Driven by a passion for technology and a belief in the potential of blockchain, he co-founded Binance in 2017. The exchange quickly gained traction, becoming a dominant force in the cryptocurrency industry.
However, CZ's success was not without its obstacles. In 2018, Binance faced regulatory scrutiny in China, leading to the closure of its domestic operations. Undeterred, CZ relocated the company to Malta and continued to expand its global footprint.
One of the most significant challenges CZ faced was his imprisonment in China in 2017. The circumstances surrounding his detention remain unclear, but it was a harrowing experience that tested his resolve. Despite the adversity, CZ emerged from prison determined to rebuild Binance and pursue his vision of a decentralized future.
Through his leadership, Binance has become a pioneer in the cryptocurrency space, offering a wide range of services, including trading, lending, and staking. CZ's strategic vision and innovative approach have contributed to Binance's success, making it a household name in the crypto world.
As Binance continues to evolve, CZ remains at the helm, guiding the company through the complexities of the cryptocurrency market. His unwavering commitment to innovation and his ability to overcome adversity have solidified his reputation as a visionary leader.
#CryptoMarketMoves
#CZBÄ°NANCE
#czprison
$BTC
Magic Eden, the multi-chain NFT platform originally built on Solana, has announced plans to adopt the ME token, developed by the ME Foundation. Although no official launch date has been provided, the ME token aims to facilitate cross-chain trading on Magic Eden, enabling users to trade tokens across leading chains seamlessly.
Post-launch, the ME Foundation anticipates integration of the ME token into third-party protocols and decentralized finance (DeFi) applications, enhancing its community reach. Magic Eden has rapidly grown to become the worldâs largest NFT platform by transaction volume, attributing its success to strategic expansions, including its move onto the Bitcoin blockchain.
The ME Foundation envisions the ME token as a leading consumer token in the crypto space, initially considering the ticker symbol "NFT" but ultimately choosing "ME" to reflect the platform's broader evolution. The token will be available through Magic Eden's desktop and mobile wallets once launched.
đŁGermany Seizes 13 Illegal Bitcoin ATMs
German regulators, BaFin, conducted a raid across major cities, seizing 13 unlicensed Bitcoin ATMs. The machines were operating without proper authorization, violating banking laws and raising concerns over money laundering risks. Authorities also confiscated nearly âŹ25 million in cash, and the operators now face up to five years in prison.
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đCrypto markets are buzzing! The FOMC minutes hint at a rate hike in September, sparking excitement. BTC shot up to $61,800 but couldn't hold, dipping below $61,000.
đ DeFi, ETH, and altcoins are also seeing action. What are your thoughts on the market's next move? Share in the comments!
#Crypto #Bitcoin #DeFi #ETH #Altcoins
**Anchorage Digital Unveils PYUSD Rewards Program**
Anchorage Digital has rolled out a new rewards program for clients who custody PayPal USD (PYUSD) stablecoins with the crypto bank. This initiative, announced on August 22, is the first of its kind for Anchorage and targets clients using Anchorage or its institutional self-custody wallet, Porto.
Key Points:
- PYUSD remains fully accessible and segregated on-chain for quick deployment.
- The program offers rewards without rehypothecation, staking, or lending.
- PYUSD, launched by PayPal in 2023, is backed 1:1 by US dollars and issued by Paxos Trust Company.
- Competes with other stablecoins like USDC.
- Anchorage is a regulated digital asset custodian for institutional clients.
This move highlights the growing trend of regulated digital asset custodians in the US, with firms like Fireblocks, Coinbase Custody Trust, and Fidelity Digital Asset Services also securing licenses.
Based on today's classical pivot point (P1) with the value of $âŻ19.32, Ethereum Classic has support levels of $âŻ19.01, $âŻ18.52, and the strongest at $âŻ18.20. Similarly, Ethereum Classic resistance levels are at $âŻ19.82, $âŻ20.13, and $âŻ20.62.
#etc #MarketDownturn #Write2Earn #BecomeCreator #TONonBinance $ETC
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Based on our technical indicators, Ethereum Classic's 200-day SMA will rise in the next month and will hit $âŻ26.87 by Sep 21, 2024. Ethereum Classic's short-term 50-Day SMA is estimated to hit $âŻ24.38 by Sep 21, 2024.
The Relative Strength Index (RSI) momentum oscillator is a popular indicator that signals whether a cryptocurrency is oversold (below 30) or overbought (above 70). Currently, the RSI value is at 47.38, which indicates that the ETC market is in a neutral position.
#etc #MarketDownturn #Write2Earn #BecomeCreator #TONonBinance $ETC
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đ° Where Traders Are Losing Money:
Many traders find themselves caught in the trap of flipping bearish or bullish with every red or green candle, opening trades impulsively, while the overall price remains stuck in a range. This choppy lower timeframe action often leads to unnecessary losses. đđž[WAIT A SECOND VOTE FOR CRYPTO LEO T_](https://app.binance.com/uni-qr/cpro/cryptosea?l=en&r=157582291&uc=web_square_share_link&us=copylink)
To avoid these pitfalls, shift your focus to higher timeframes (HTF). đ Execute your trades based on the broader market trend, which reduces the likelihood of getting trapped by short-term volatility. đ
Remember, patience and a strategic approach on higher timeframes can be your best defense against market noise. đĄïž
#BecomeCreator