What Is Dead May Never Die
What Is Dead May Never Die
The top 5 stories in Crypto this week, and more!
Headline Roundup
2. Former Only Fans CEO to Launch an NFT Trading Card App
3. A16z Raised $4.5 Billion for Crypto Fund
4. Goblin NFTS Take Over Twitter
5. Bitcoin Closed 9 Straight Weeks in the Red
The Headlines
In the last few weeks, we have talked about the collapse of LUNA and UST. Let’s keep it going, shall we?
This weekend LUNA 2.0 launched and the old LUNA (the one that lost nearly all its value) was renamed “LUNA Classic”. This new blockchain hopes to revive LUNA but this time without an algorithmic stable coin.
The new LUNA token was airdropped to all LUNA Classic holders over the weekend, but not all tokens are claimable at the moment. Currently, users are able to claim/sell/do whatever with 30% of the tokens they held, and the remaining 70% are locked up in validators and will vest for up to two years. Blockchain validators are the entities that are responsible for validating transactions on the blockchain.
The new LUNA is currently trading at around ~$6 on the crypto exchange, KuCoin. For reference, LUNA classic was $115 just 6 weeks ago.
2. Former Only Fans CEO to Launch an NFT Trading Card App
Zoop is the name of the NFT card trading platform that the ex-CEO and co-founder of Only Fans is launching. The trading platform will allow users to trade NFT cards that depict celebrities and influencers. (It will be family-friendly).
3. A16z Raised $4.5 Billion for Crypto Fund
It’s been a big week for crypto fundraising and it seems there are some big players getting ready to invest while the markets are down. Well renowned venture capital firm a16z raised a whopping $4.5 billion for their new crypto fund aimed at blockchain startups. Standard Crypto (another VC firm) raised $500 million and Old Fashion research (a fund set up by Binance executives) raised $100 million.
4. Goblin NFTs Take Over Twitter
Last week Goblintown.wtf launched as a free mint, boasting “no utility”. For a good few hours, they took over Twitter with their ridiculous Twitter space where users pretended to be goblins. The floor price for a goblin is currently 2.7 ETH (around $5,000) and OpenSea has done around 13,000 ETH in volume in the last week.
5. Bitcoin Closed 9 Straight Weeks in the Red
Last week Bitcoin closed its 9th weekly red candle in a row - the first time this has happened since August 2011. The federal reserve raising interest rates and tightening monetary policy and the LUNA/UST debacle have both been catalysts for these awful couple of months. From week 1 to 9, bitcoin has fallen over 42%.