NFT land sells for 550 ETH, eToro to delist ADA and 1M ETH burned since August: Hodler’s Digest, Nov. 21-27

NFT land sells for 550 ETH, eToro to delist ADA and 1M ETH burned since August: Hodler’s Digest, Nov. 21-27 1

Hodler’s Digest comes every Saturday and helps you keep track of every single important message that happened this week. The best (and worst) quotes, introductory and regulatory highlights, leading coins, predictions, and more – one week on Cointelegraph all in one link.

This week’s top stories

The Axie Infinity virtual land slot is sold out for 550 ETH

A virtual lot in the widespread monster battle NFT game Axie Infinity that sold for 550 Ether (ETH) this week, valued at over $ 2.2 million at the time of writing.

The piece of virtual land was purchased Thursday and is classified as Genesis, the rarest form of virtual real estate available in the Axie Infinity ecosystem. The game allows players to use Pokémon-like Axie monster NFTs to battle other players or complete challenges to earn blockchain rewards. Users can also buy, sell, or rent land to other players.

The game’s developers said Thursday that they believed it was “the largest sum ever paid for a single digital property.” However, a quick google search reveals that a piece virtual real estate sold in Decentraland the previous day for 618,000 MANA ($ 2.9 million at current prices).

eToro delisting Cardano for US users through 2022 due to regulatory concerns

Retail platform eToro announced Tuesday that it had Cardano (THERE IS) and Tron (TRX) for US customers through the end of the year due to regulatory concerns.

From the beginning of 2022, users will no longer be able to open or use new positions in the tokens. Additionally, the wallets holding the assets will be in pay-out-only mode until the first quarter of 2022, when sales are also capped.

In the case of ADA, many viewers were confused by the move as the asset never had any significant regulatory or legal issues. Cardano has also worked on improving regulatory compliance this year and has partnered with blockchain analytics provider Confirm to help ensure compliance with financial regulations.

Celsius expands funding round to $ 750 million, tips $ 7 billion to $ 10 billion valuation in 2022

Celsius Network expanded its Series B funding round in October from $ 400 million to $ 750 million earlier this week due to an oversubscription of the company’s capital increase.

CEO Alex Mashinsky told Cointelegraph that the company’s post-Series B valuation was $ 3.5 billion.

Mashinsky pointed to the company’s ability to provide services in almost every crypto sector when highlighting the company’s growth potential. The company currently offers credit and DeFi services along with the proceeds from its crypto mining business, and the CEO said it plans to get into NFTs soon.

The Shiba Inu team is sending a fraud warning to SHIB investors

The team behind the popular memecoin Shiba Inu (SHIB) publicly warned on Sunday of online scams that primarily target SHIB-curious altcoin investors.

The scammers are said to be circling Twitter and Telegram waiting for a chance to pounce on careless investors by impersonating official accounts and targeting hashtags like #shib, #shibarmy, #leash, #shibaswap and #bone.

Shiba Inu’s fraud warning urged users to be careful, especially in fake Telegram groups, noting that the official community does not offer any promotions such as airdrops, bonuses, freebies or gifts, and does not ask for wallet keys and credentials.

1 million ETH has been burned since the launch of EIP-1559 in August

Blockchain research firm CryptoRank highlighted Wednesday that over 1 million ethers, valued at around $ 4 billion, have been burned since the London Hard Fork went live in August. When the network was upgraded, a burning mechanism was introduced as part of Ethereum’s fee structure.

According to CryptoRank, the NFT marketplace OpenSea burned 110,237 ETH ($ 439 million) while the decentralized exchange Uniswap V2 was 97,583 ETH ($ 388 million).

Data from Ultrasound Money shows that the current burn rate for Ethereum is 10,451 ETH per day, which equates to 7.26 ETH per minute. While many viewers said the London hard fork would quickly turn ETH into a deflationary asset, there seems to be a lot more room. The current annual burn rate is 3.8 million ETH compared to the 5.4 million ETH spent every 12 months.

Winner and Loser

NFT land sells for 550 ETH, eToro to delist ADA and 1M ETH burned since August: Hodler’s Digest, Nov. 21-27 2

At the end of the week, Bitcoin (BTC) is at $ 54,292, Ether (ETH) $ 4,020 and XRP is at $ 0.94. The total market capitalization is $ 2.43 Trillion.

Among the top 100 cryptocurrencies, the three biggest altcoin winners of the week are Gala (GALA) at 173.91%, Zcash (ZEC) at 58.07% and The Sandbox (SAND) at 57.88%.

The three biggest altcoin losers of the week are Nexo (NEXUS) at 22.53% WAX (WAXP) at 21.17% and ICON (ICX) at 20.83%.

For more information on crypto pricing, be sure to read Market analysis by Cointelegraph.

The most memorable quotes

“[An NFT is] a piece of digital data that records who owns a digital work. […] What has really excited the public about NFTs is the use of this technology to sell art. ”

Collins Dictionary

“We thought CME futures would be a very effective element of the portfolio. We never thought that they would be effective if they make up 100% of the product. “

Anna Paglia, Global Head of ETFs and Indexed Strategys at Invesco

“I’m actually not convinced, somewhat controversial, I think that Dogecoin is good for the crypto market. […] Dogecoin has a certain inflationary dynamic of its own that I would hesitate to keep. ”

Brad Garlinghouse, CEO of Ripple

“India is home to most of the world’s crypto owners and the government has a responsibility to protect the interests of a large number of crypto investors in the country.”

Jay Hao, CEO of the OKEx crypto exchange

“We see risks in participation” [in the crypto sector], but we see greater risks in not participating. “

Matt Comyn, CEO of the Commonwealth Bank of Australia

“I can tell you that it is much better to be in a licensed jurisdiction than in an unlicensed jurisdiction. And that’s because it really changes the conversations we have with the partners we work with. “

Adrian Przelozny, CEO of Independent Reserve, talks about the upcoming regulation in Australia

“I don’t know what the solution is. But I know for the millions of new users that are coming, they shouldn’t be ashamed of moving to other ecosystems. Developers shouldn’t be ashamed to build on it either. “

Su Zhu, CEO and co-founder of Three Arrows Capital, comments on the Ethereum network

“It’s difficult to find a way to balance investor protection and innovation regulations, especially in an environment where new financial offers appear every few months.”

Yuriy Kovalev, CEO of Zenfuse

Forecast of the week

The Metaverse is a $ 1T opportunity after users increase 10X: grayscale report

Crypto investment giant Grayscale released an bullish report on Metaverses this week that predicted the sector could be worth more than $ 1 trillion in the next few years once technology goes mainstream.

The report argues that Metaverse open platforms supported by a “connected crypto economy” such as native tokens, DeFi services, NFTs and decentralized governance, “created a new online experience” that is rapidly attracting new users .

When analyzing data on “global all-time-active-metaverse-wallets” since the beginning of 2020, Grayscale found that the user base has increased tenfold, reaching around 50,000 in June 2021.

“Compared to other Web 3.0 and Web 2.0 segments, users of the Metaverse virtual world are still in their early innings, but if current growth rates stay on their current path, this emerging segment has the potential for years to come to become mainstream, ”reads the report.

FUD of the week

NFT land sells for 550 ETH, eToro to delist ADA and 1M ETH burned since August: Hodler’s Digest, Nov. 21-27 3

You must not pass: Tolkien Estate is blocking ‘The Lord of the Rings’ JRR tokens

A The Lord of the rings-Topic project “JRR Token” had to close this week after legal action by the family and the estate of the late author of the famous series, JRR Tolkien.

The project borrowed heavily on intellectual property from the popular series, such as images of mythical rings, hobbit holes, and a wizard who looks eerily like Gandalf the Horror. The estate’s attorney, Steve Maier, described the case as a “particularly blatant violation” and added that the estate was “pleased that it was closed on satisfactory terms.”

According to the settlement, developer Matthew Jensen promised to close the token and delete all content related to the property’s trademark rights in the name of JRR Tolkien and intellectual property. hurt Lord of the Rings and The Hobbit.

The agenda of the Indian parliament for the winter session includes a bill to ban “private cryptocurrencies”

According to local media reports, the Indian government will deal with “The Cryptocurrency and Regulation of Official Digital Currency Bill” next Monday as part of a group of 26 bills.

The bill proposes banning “all private cryptocurrencies” other than assets “to promote the underlying technology of the cryptocurrency and its uses,” and is intended to be part of a step in paving the way for the creation of an official government digital currency .

In March 2020, India’s Supreme Court lifted a blanket ban on cryptocurrencies imposed by the central bank two years earlier, but local media said the government is now looking for alternative ways to regulate the sector as opposed to an outright ban.

Spanish supervisory authority raises the alarm over Binance advertising by soccer star Iniesta

Andrés Iniesta, the legendary Spanish soccer player and former star of FC Barcelona, ​​was warned this week by Spain’s financial regulator, the Comisión Nacional del Mercado de Valores (CNMV), about promoting the Binance crypto exchange.

On Wednesday, Iniesta posted some pictures of herself on Twitter, pretending to be using a laptop that had the Binance home page with the headline “I’m learning how to start cryptography with Binance”.

In response, the CNMV wrote, “Hello Andres Iniesta, Cryptoassets carry some significant risks as they are unregulated products.” It is unclear how much Iniesta was bothered by this message, as it is most likely a paid advertisement for Binance acted.

Best Cointelegraph features

NFT land sells for 550 ETH, eToro to delist ADA and 1M ETH burned since August: Hodler’s Digest, Nov. 21-27 4

Discourage adoption? Balance between security and innovation in crypto

Security is necessary to protect crypto users, but regulators can force companies to put in place processes that stifle innovation.

Just buy: Nike wants to bring sneakerheads to the Metaverse

Nike intends to sell you digital products on the Metaverse, and you will buy them because Nike knows how to make them want them.

Powers On … Why Are Law Schools No More Teaching Blockchain, DeFi, and NFTs?

To advise clients working in the DeFi space, don’t you want a lawyer with tech knowledge to understand blockchain and the legal issues that come with it?

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