For two weeks running we have seen a correction of more than 20%, and each time falling on on the same day. Even cryptos hate Mondays. US$35k down to US$28k, US$42k down to US$31k, will we see another ATH this weekend with another dip on Monday? Let’s not jinx it.
With the weekend squeeze and surge, no one is surprised to see exchanges running out of ETH with 27% of it wiped out in a mere 48 hours. Finally, someone’s rooting for the underdog. With a major global exchange sending out warnings of unprecedented crypto demand, a new ATH for both BTC and ETH cannot be ruled out. Ironically, there can be two winners.
While the sound of Ka-ching! is music to some, the Grammy Award winning band Portugal, has launched its fan token on the Ethereum blockchain. The tokens grant fans priority access to several events and perks including a livestream party, previously unreleased songs etc. They are not the first, they will not be the last. From music, we move on to…. music, with Deadmau5 teaming up with Mad Dog Jones on an NFT art collection. The digital artworks have already raised $338,000 with the final auction yet to finish. Monitor not included. It will be a bumpy ride ahead, holding power is key.
Exchanges will run out of ETH with reserves plunging 27% in 48 hours
Analysts predict Ether may soon hit a new all-time high after ETH reserves on centralized exchanges fell by 27% in two days.
The amount of Ether held on exchanges has plunged over the past two days, with CryptoQuant data indicating that just 8.1 million ETH is currently sitting in the reserves of centralized exchanges.
Grammy Award winning band Portugal launching fan token on Ethereum blockchain
It is known as the PTM Coin, the new token will then grant fans priority access to several events and perks including a livestream party, previously unreleased songs etc.
Fan tokens have been a growing trend since 2020, allowing artists and content creators and even footballers to build virtual communities through token economies.
When Portugal release an archive of unreleased performances to tokenholders on Friday, it will mark the first time Grammy Award-Winner have used crypto to distribute new material.
Deadmau5 collaborate with Mad Dog Jones on NFT art collection
Currently, the artworks have already raised $338,000 with the final auction yet to finish. Block Heater, a single edition NFT, currently has a bid of $20,000 on it. The NFTs are a combination of music from renowned multi-Grammy nominated Deadmau5 and artwork from Dowbak, whose previous NFT collection in collaboration with DJ 3Lau sold out within seconds.
Dowbak is a frequent collaborator with high-profile clients, creating artwork for Run The Jewels, Jabbawockeez, Conor McGregor, Maroon 5, and Chromeo. And this isn’t Deadmau5’s first NFT rodeo either.
In December 2020, he released a 30-second audio-reactive artwork which sold for $49,277. In the same month, 6,000 NFT packs featuring content from recent shows and video clips were listed on the Wax Exchange with a value just shy of $100,000. The artist seems determined to help spread the word about NFT technology to his masses of fans including 3.5 million followers on Twitter, 2.5 million on Instagram, and 1.7 million on YouTube.
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