Cryptocurrency
The meaningful shift from Bitcoin maximalism to Bitcoin realism
The meaningful shift from Bitcoin maximalism to Bitcoin realism
There was a time when all cryptocurrencies traded against Bitcoin (BTC). Speculators ventured into other coins when they saw assuring tokenomics or promising hype, but Bitcoin was their settlement coin of choice.
Things have changed. Stablecoins now constitute a critical $150 billion pillar in the cryptocurrency market. Perpetual futures over-amplify market sentiment and, more often than not, dominate price action. Much more capital, including from institutional funds, has come into the market lately with only a moderate impact on Bitcoin’s price. So, some former bulls now dismiss Bitcoin as boring.
Game on: Yield Guild Games scholarships on the rise through Q1
Yield Guild Games (YGG) has released its Community Update for Q1 2022, revealing that total scholarships rose 39% overall as the guild continues to farm copious amounts of the Axie breeding Smooth Love Potion (SLP) token.
The Community Report shows that the month-on-month growth of scholarships in YGG has been strong despite a downturn in the market. January saw 50.13% growth, February saw a 28.8% increase, while March had 41.93% growth fueled by new partnerships and the rollout of SubDAOs. By the end of March, the guild had 29,458 scholarships, mostly from Axie Infinity.
Coinbase Wallet Extends Token Swaps With BNB Chain and AVAX
- Coinbase (NASDAQ:COIN) wallet adds BNB Chain and AVAX networks.
- The exchange will undertake swaps on a broader variety of networks soon.
- Wallet users can now use Coinbase’s in-app DEX on four networks.
BNB Chain and Avalanche have been added to Coinbase’s list of supported networks that allow customers to exchange for cryptocurrency transactions.
In a blog post, Coinbase announced that the new feature would provide customers access to thousands of tokens, a greater variety than most traditional centralized exchanges can provide.
One Wallet. Even more networks. Thousands of tokens.
Now supporting token swaps on @avalancheavax and @BNBCHAIN on Coinbase Wallet.
Learn more -> …
El Salvador’s Bitcoin play: What does the current slump mean for adoption?
It was September 6, 2021, when the Central American nation of El Salvador decided to go ahead and purchase 200 Bitcoin (BTC), worth about $10.3 million at the time. The day was hailed as momentous in the history of the crypto market and was met with much fanfare. In fact, many proponents claimed that the purchase was just an inkling of what really lay ahead in terms of a global crypto-driven economy.
However, a lot has changed since then, especially with BTC losing 55% off its value after scaling up to its November all-time high of $69,000. And, with Bitcoin’s value seemingly in a downward spiral at the moment, many critics have ramped up their criticism of El Salvadoran President Nayib Bukele and his decision to keep lapping up more BTC.
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Best Buy sees lower TV, computer sales as inflation hits shoppers’ wallets
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