Ferrari, the Maranello based luxury and high end sports carmaker, will be celebrating their 75th year anniversary of ceaseless innovation in 2022 and just became the latest player in the non-fungible token space after announcing a partnership with Velas Network this Monday.
Bitcoin (BTC) broke past several key areas of resistance in the past 24 hours while quickly climbing from a low of $48,250 to a high of $51,527.62 whike flashing positive signs that there could be more gains ahead.
Polygon (MATIC) announced on its official site that following a community vote goEthereum’s flagship project, Uniswap, now has its V3 contracts live on the layer-two scaling solution with benefits including lower gas fees, faster transactions, and increased users among several others. Support for Polygon has also been integrated with the AMM’s (automated market maker) official interface.
Solana (SOL) has experienced a dramatic reduction in valuation over the past month. After reaching a high of $243.56, SOL is now struggling to stay above the major support level of $170 and the bears are currently in firm control yet again after a false breakout.
Adidas Originals just announced plans to enter the Metaverse. The acclaimed sportswear brand will be releasing a nonfungible token (NFT) collection starting on December 17th at a price of 0.2 Ether ETH, equivalent to approximately $810, after partnering with Bored Ape Yacht Club, GMoney, and PUNKS Comics, all leaders within the NFT space.
NYDIG, a subsidiary of Stone Ridge and emerging crypto leader, just completed a massive $1 billion funding round that has raised the company’s total valuation to just over $7 billion.
The crypto market started out the new week by continuing its recent negative trend that has dragged the broader market down. The three largest cryptocurrencies in terms of market capitalization, Bitcoin Ethereum, and Binance, are all moving lower. During the past 24 hours of trading, all three tokens are down between three and five percent and the overall crypto market has seen a decline of 3.6%.
December has been somewhat brutal regarding crypto markets with a prolonged bearish streak that has been devastating for that majority of digital assets. With the exception of a handful of coins, Friday continued the streak of down days as the majority of small, medium, and large-cap coins continued to shed value. Now, several technical trading indicators are flashing warning signs that continued losses might be possible, culminating in Bitcoin dropping to a sub $40k valuation.
With the fallout from the Squid Game Token still fresh on investors’ minds, there are signs that the very same scammers are back to work with another heist this time targeting the meme sensation Shiba Inu.
Cryptocurrencies have been in a downward trend over the past week led by Bitcoin’s drop to a low of $45,000 from all-time highs and BTC wasn’t alone. Everything from Ethereum to Polkadot saw steep drops in valuation and have been fighting to recover lost ground over the past several days. As the larger cryptocurrencies continued to face selling pressure, one altcoin, Tezos, has bucked the trend and has been stringing together gains, popping as much as 25% during a twenty-four hour period.