NFT coins explode higher (not literally) as Facebook Metaverse announcement sees buying tsunami

01 Nov 2021

SGT 0815
📉 BTC | $61,508 (-$872, -1.4%)
📉 ETH | $4,314 (-$56, -1.3%)
📈 XRP | $1.12 (+$0.03, +2.5%)
📈 LTC | $193 (+$1, +0.6%)

📉 Total Crypto Market Cap: $2.63T (-0.6%)

🎉 Cryptocurrency projects to do with the “metaverse”, NFTs, and other related functions exploded higher over the weekend, with one such project – DecentraLand, rising from $0.90 to over $4 at one point. DeCentraland itself is an Ethereum-based project (as are many “metaverse” projects), and has been open to the public (its available as a video game online) since Jan 2020.

🐋 A report from Kraken’s research arm shows that the largest Bitcoin wallets have been accumulating more BTC recently, with the number of Bitcoin whales (more than 100BTC in holdings) at 16,156 – the highest level since May.

⛽️ Average Ethereum gas (transaction) fees have spiked to over $50, after starting October at around $25. While still adrift of all-time highs at around $70 seen earlier in May, a tidal wave of interest in NFTs and DeFi has seen transactions on the network skyrocket.

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