This Week in Crypto – April 23rd
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Hollywood Elite to Receive NFTs at Upcoming Awards Show
At this year’s Academy Award ceremony, 25 people will receive NFTs in their unofficial gift bags. The project will distribute NFTs to the award nominees for best actor, best actress, and best director.
Now you might be wondering, how can NFTs go into a gift bag? Well, since they’re not physical, the project will add a ticket to each bag with instructions on how to claim the NFTs.
Among the NFTs will be a piece created by 3D animator Andre O’Shea as a tribute to the late actor Chadwick Boseman. The winner of each category will also receive an additional NFT to be auctioned off. All proceeds will go to the Colon Cancer Foundation.
Ethereum Hits All-time High of $2.6k as Bitcoin Falls
Is it altcoin season yet? Ethereum reached a new all-time high on April 22nd, as Bitcoin continued to hover around 50k. As Real Vision’s CEO, Raoul Pal explains,
“When you price anything up in DeFi, NFT, community tokens or even metaverse worlds, everything is basically priced in ETH, including designers time etc. ETH is rapidly becoming the currency of the digital world and BTC is the pristine collateral and base layer.”
At the same time, other altcoins like Litecoin and Chainlink’s LINK were both up around 6.5%.
Dogecoin Begins to Lose Momentum
Every dog has its day, but is this cryptocurrency moving towards a downward doge position? Earlier this week, Dogecoin saw huge gains leading up to ‘Doge Day’ on April 20. However, since reaching its all-time high of $0.44 on April 16th, Dogecoin has fallen over 30%.
According to data released by Alphabet Inc, Dogecoin may be falling because Americans are losing interest. As well, earlier this week, Galaxy Digital CEO, Mike Novogratz, cautioned that retail investors should remain careful with Dogecoin.
Mike Novogratz on Dogecoin boom: “This is a retail phenomenon being driven by the fact that Fed Chair Jay Powell is giving money to everybody. There is too much money in the system.” https://t.co/HhsJ36tGfI
— Seana Smith (@SeanaNSmith) April 21, 2021
Norway’s Central Bank Looks Into CBDCs
The bank said that it’s looking to test technical solutions for a CBDC due to many other banks around the world that are carrying out experiments. It’s already been four years since Norges Bank began researching CBDCs, and the bank now believes that it’s ready for the next step.
No timeline has been released as to when the bank will launch its CBDC, however, they want to begin technical testing to evaluate the implications of launching a CBDC. Many other countries are also looking at CBDCs including Sweden, Japan, and China.
Alex Ross Launching Superhero Painting Series as NFTs
The longtime Marvel and DC comics artist is planning to release his first NFT art. The series called “Shooting Up the Mainstream” will be a permanent digital collection of his life’s work.
Ross plans to create NFTs for all forms of his art including paintings, prints, and even augmented reality pieces.
Grayscale Adds Nearly $1 Billion in Crypto in 24 Hours
On Wednesday, the company tweeted that they had added nearly $1 Billion in crypto since the previous day.
04/21/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
— Grayscale (@Grayscale) April 21, 2021
Total AUM: $45.8 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $ZEC $BAT $LINK $MANA $FIL $LPT pic.twitter.com/gAujWHw5qQ
With this addition, Grayscale now holds nearly $46 billion in cryptocurrency. Recently, the company also added a large number of altcoins including Horizen and Livepeer.
That’s the end of this week’s recap. If you want to learn more about cryptocurrency with NetCents, make sure to subscribe to our blog below! If you see an interesting story that you think we should feature, send us a message on Facebook, Twitter, or Instagram.
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