ether hit record high, NFT.NYC, infrastructure bill
The cryptocurrency market is now worth more than $ 3 trillion, according to CoinGecko. It comes as the best digital coins, including Ether and Bitcoin, come together on Monday.
Ether, the second largest cryptocurrency by market value under bitcoin, hit a new all-time high above $ 4,700 on Monday. It is currently trading at around $ 4,785, according to data from Coin Metrics.
At the same time, bitcoin is approaching its all-time high of over $ 66,900 and is currently trading at around $ 66,006.
Others, like Solana, are also in the green. This year, Solana’s token, SOL, has risen nearly 12,000%, according to CoinGecko. Now the fourth largest cryptocurrency by market value, SOL hit an all-time high of nearly $ 259.96 on Saturday. It is now trading at around $ 249.
Here are five other key things that happened in crypto over the past week.
1. Over 5,000 people attend the NFT.NYC conference
To celebrate their love for NFTs, or non-fungible tokens, more than 5,000 people attended the NFT.NYC conference in Manhattan last week.
The highly anticipated event, which left 3,000 people on the waiting list, began on November 1 and ended on Thursday.
The week featured 600 speakers on panels, as well as parties, dinners, raves, galleries and attractions. The folks behind the remarkable NFT Bored Ape Yacht Club collection hosted a true yacht party on the Hudson River, as well as an owners-only concert by The Strokes instead of Brooklyn Steel music.
NFT enthusiasts, crypto influencers, and mainstream celebrities were all in attendance, including director Quentin Tarantino, Reddit co-founder Alexis Ohanian, entrepreneur Gary Vaynerchuk and comedian Chris Rock, to name a few. only a few.
Throughout, attendees traded 700,000 event NFTs, according to CoinDesk.
2. Cryptocurrency crash inspired by the “Squid Game”
A cryptocurrency inspired by the hit Netflix TV series “Squid Game” crashed after its founders were withdrawn, CNBC reported on Tuesday.
The token, called SQUID, peaked at just over $ 2,861 on November 1 before dropping to near zero, according to price tracking website CoinMarketCap.
CoinMarketCap warned that it had received “multiple reports” that users were unable to sell the token on Pancakeswap, a popular decentralized exchange, and the token’s whitepaper and website have since disappeared.
It appears that the creators of the token have raised at least $ 3.4 million in funds from investors. The incident appears to be a so-called “carpet pull”, where project founders abandon a project and take investor funds with them.
3. Quentin Tarantino will feature seven uncut scenes from ‘Pulp Fiction’ in NFT
On Tuesday, Quentin Tarantino announced his intention to sell seven uncut scenes of “Pulp Fiction” in NFT.
Each will also include handwritten scripts from the film and audio commentary from Tarantino himself, which can only be seen by NFT owners.
NFTs will be auctioned on the OpenSea marketplace. A launch date has not yet been announced.
4. New York Mayor Eric Adams promises to receive the first three bitcoin paychecks
New York City Mayor-elect Eric Adams plans to receive his first three paychecks in Bitcoin, he says in a tweet Thursday.
“NYC is going to be the center of the cryptocurrency industry,” Adams wrote.
Adams also said in an interview with Bloomberg Radio on Wednesday that he wanted to bet some “friendly competition” with Miami Mayor Francis Suarez, who is a big supporter of bitcoin.
“He’s got a MiamiCoin that’s doing really well – we’re going to look in the direction to make it happen,” Adams told Bloomberg Radio, hinting at creating a coin for New York similar to Miami’s.