Are your favorite celebrities really buying these multi-million dollar NFTs, or is this just hocus pocus?
Plus, with more US states pushing bills to make Bitcoin legal tender, we’re seeing some unusual whale activity across both Bitcoin and major Layer-1’s (most of which are down over 50% from their all-time-highs!).
Also, did we just stumble upon the next crypto sector ready to explode?
Let’s dive in…
- Cool or Greater Fool?
- Gaming and Metaverse pump incoming?
- Someone knows something about Bitcoin…
- Fantom ecosystem explosion
- LUNAtic whale goes fishing
- On-chain data shows bull run intact
- Stablecoins breaking records
- Thread of the day
Cool or Greater Fool?
As reddit user u/Many_Arm7466 recently pointed out, something fishy seems to be happening in NFT-land. An increasing number of celebrities seem to be scooping up million dollar NFTs, which begs a number of questions: Are they actually buying them personally? Or is this just a way to create buzz, boost artificial demand, and cause some last-gasp price appreciation?
Reddit users have spotted that celebrities seem to be purchasing NFTs way above market price. Some suggest it’s an understandable flex (as most of these celebrities are multi-millionaires). Others think something fishy is afoot. Are NFTs about to decouple? Or is this Greater Fool Theory in action?
Is Gaming and Metaverse next?
As NFTs continue to smash records in terms of sales and volume, analysts are trying to figure out where the smart bees will buzz to next. Some suggest that the insane amount of money generated in the NFT boom could make its way over to the gaming and metaverse sector, which has been keeping a low profile in recent months
Bitcoin stacking champion?
Michael Saylor might have new competition.
As more and more whales continue to stack Bitcoin, one in particular has caught our attention: this moby-dick-sized whale, who held zero Bitcoin prior to November, 2021 has since amassed 28,455 BTC in three busy months.
What do you think: do they know something we don’t?
Major Fantom events could proper price action?
As huge sums of money continue to flow into Fantom and its ecosystem, rumours are swirling about an upcoming FTM listing on Coinbase.
On top of which, the Fantom ecosystem continues to grow exponentially!
LUNAtic whale
The FUD surrounding Terra and its stablecoin, UST, continues to push the price of LUNA down, and some pretty serious whales seem to be capitalizing, seizing the opportunity to pack their bags (with millions of dollars worth of LUNA).
As the Banter Fam already knows, LUNA boasts some incredible fundamentals. The ongoing Anchor/UST saga only shows how resilient the Terra ecosystem is. Meanwhilethe smart money is doubling-down
On-chain hopium
With so many whales accumulating Bitcoin and other major Layer-1’s, an on-chain indicator shows that there could be two peaks left in the current cycle – one of them being the cycle peak.
If this turns out to be true, we could be in for one hell of a ride!
Stablecoins continue breaking records
Stablecoin-related FUD (Fear, uncertainty and doubt) is nothing new, and with the focus shifting from one token to next, the overall stablecoin market continues to grow (and break records) at a phenomenal rate.
Interesting thread of the day
Fancy diving into a super interesting thread? Look no further. Trust is, it’s well worth your time!
Banter Take:
Crypto had a (yet another) wild weekend, but as Ran always says, “never trust a weekend pump!”. The entire market is undergoing a stress test (from multiple angles), yet many of the projects under strain are holding up well. Still, some of FUD (and drama!) has shed necessary light on existing weaknesses that clearly need to be addressed.
While the market finds a direction (and retail gets bored), it’s always worth keeping an eye out for new opportunities in staking/yield, NFTs, gaming and more!
We believe that a clear direction is coming. It’s on the horizon. However, waiting around for better days and not taking advantage of the opportunities currently on offer could prove to be a costly mistake!
