Leading cryptocurrencies fall over 10% Over the last seven days Ethereum (ETH) has fallen 13.3%, Binance Coin (BNB) 12.4%, and Bitcoin (BTC) by 10%. Both BTC and ETH hit three months lows, and still have yet to recover. Few coins have seen gains in the last week, Chainlink (LINK) and Cosmos (ATOM) being exceptions. The market cap of the whole crypto market has been in decline since the middle of November. The market saw a major dip in early December, and then continued the slow decline. Now in early January the market has once again seen a significant drop. Even with the market dipping in December, it still seemed bullish.…
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NFTs are Overhyped
Why the vast majority of NFT projects are a complete waste of money
What is an NFT and why do they matter? NFT is a term that has been appearing all over social media and the news in the last few months. An NFT is a Non-fungible token, stored on a blockchain, which is essentially a digital ledger. NFTs function similarly to a cryptocurrency like Ethereum or Bitcoin. The major difference between interchangeable tokens like Ethereum and an NFT is that each NFT is uniquely different, hence the word non-fungible. An NFT can be a digital picture, song, file, and much more. Ownership of an NFT does not confer copyright or the ability to use legal action. Instead, it is more of a…
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Opinion | The Dip in Bitcoin Price Was Caused By Correlation With The Stock Market
The reasons behind the largest cryptocurrency asset moving closer with the S&P 500 and Dow Jones
Bitcoin hit a price of $42,874.62 early this Saturday morning. The largest cryptocurrency asset has not seen prices like this in nearly two months, and nonetheless in a 12% decline overnight. While many fear this to be a sign of an impending bear market, it is nothing more than a shakeout influenced by the recent decline in the stock market. Stock Market Pressure In recent weeks the stock market has seen selloffs of billions of dollars from billionaires like Elon Musk and Jeff Bezos. This is because the Biden administration is imposing a surtax on multimillionaires and billionaires. The tax is 5 percent on households making $10 million or more,…
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What are DAOs?
How decentralized autonomous organizations communicate and function
DAOs and how they communicate A Decentralized Autonomous Organization (DAO) is an organized community on the Internet that pools funds together in an effort to achieve a common goal. DAOs are often run using Ethereum (ETH) tokens, but they can have their own governance tokens specific to the project as well. The DAOs that tend to get news coverage are those that fail at their goal, or that get hacked and lose millions. It’s conventionally unfair to use that as a reason to disparage the decentralized organizations, as the same thing also happens to normal LLCs. Discord is a platform that users can use to create servers for a variety…
