In Elon we trust
It has been an uneventful week until Elon Musk changed his Tweeter bio to none other than Bitcoin that we see BTC sky rocket within minutes of his update. BTC has been dragging along lazily moving in a very tight range between US$30k - US$33k, and now shooting through US$36k. All this while Grayscale is buying up more bitcoins than what was mined in 2021! Elon to the rescue. Elon is to crypto what Ronald is to McDonald’s.
Reddit is partnering with Ethereum Foundation to bring Ethereum to "Reddit-scale" production and increase the site’s “commitment to blockchain, accelerating scaling and resources for the Ethereum ecosystem, and bringing the value and independence of blockchain technology to millions of redditors”... TLDR… 1.7b monthly Reddit visits could really set it off. That could be music to Redditors with Monstercat turning to NFT as new revenue streams for artistes. Selling US$180,000 of NFT’s in 2 minutes. Money money money.
It's a market of cryptos, not a crypto market. Invest wisely, avoid leverage and stay safe.
Elon Musk changes his Twitter bio to Bitcoin
Tesla and SpaceX CEO Elon Musk has changed his Twitter bio to mention only Bitcoin.
The move is similar to Twitter CEO Jack Dorsey, who has since long been a bitcoin supporter. The bitcoin mention by Musk means his more than 43 million followers could be keen to learn more about the world's largest cryptocurrency.
Reddit partners with Eth foundation to increase scaling and resources
The purpose of this partnership is to bring Ethereum to "Reddit-scale" production by increasing the site’s “commitment to blockchain, accelerating scaling and resources for the Eth ecosystem, and bringing the value and independence of blockchain technology to millions of reddit users.”
Reddit had already started 2 large Eth-Focused projects in 2020. The first is an application called community points, a rewards system that awards redditors with ERC-20 tokens for contributing engaging content to the platform. Reddit then has a competition ‘The Great Reddit Scaling Bake Off’, seeking submission of Eth scaling technology methods that could help applications such as the Community Points progress to mainnet and ultimately scale to all of the network’s 400+ million monthly users.
Monstercat dance label sells $180K of musical NFTs in two minutes
Major EDM record label Monstercat sees NFTs as a new way to provide alternative revenue streams.
Major EDM record label Monstercat has highlighted how non-fungible tokens, or NFTs, can be a successful new revenue stream for artists and the music industry, generating $180,000 in the first two minutes of an NFT collection release.
Grayscale is buying BTC 54% faster than it is mined so far in 2021
Grayscale is continuing its BTC accumulation spree, snapping up more than 40,000 BTC in just 16 days.
Digital asset manager Grayscale is showing little signs of slowing down its Bitcoin accumulation, adding around 40,000 BTC to its stash since January 13. That's around $1.36 billion worth of Bitcoin in just 16 days.
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