Solana soars almost 200%

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Still no news on the Bitcoin ETF, but a surprise Ethereum ETF filing from Blackrock saw it jump 10% in short order. This saw Bitcoin dominance fall back and it looks to be settling with the BTC/ETH price around 0.0565 at the time of writing this.

Outside of the crypto majors, Solana has definitely been the star of the show recently, having jumped almost 200% from $21.37 since the beginning of October to over $63 dollars within the past week. This has seen some spillover focus on the NFT market there too, with the Mad Lads project hitting new highs.

Last week I said NFTs are back and the data this week definitely agrees! Volume is up over 40% on the Ethereum chain and the number of active traders also jumped over 20%. These two haven't moved so dramatically in sync for a while.

Will it last or is this just a sugar rush on the back of recent crypto moves? Time will tell, but with the end of season two of Blur's airdrop promotion, I am of the opinion we're likely to see a little more action yet.

Onwards...

- @nuconomist

Ethereum Rockets Past $2,100 as BlackRock Files for Ethereum ETF with NASDAQ - Decrypt

In addition to its Bitcoin plans, BlackRock has filed an ETF application for a spot trust that would track the price of Ethereum.

Bitcoin Researcher Behind 'BitVM' Ignites Fresh Buzz With New Paper on File Hosting - CoinDesk

BitVM is aiming to bring Ethereum-like functionality to Bitcoin and now includes potential solutions for file storage and payments similar to Filecoin.

Grayscale CEO Says They're "Ready For The Main Event", Awaiting Spot Bitcoin ETF Approval - Bitcoin Magazine

The CEO of Grayscale says it has been a ten year dress rehearsal for Bitcoin. Market commentators are saying that while an approval could come as soon as this week a date in January is more likely.

The Crypto Market Rally Looks Overdone, JPMorgan Says - CoinDesk

While the CEO is known for making controversial statements at key moments, this comes from a recent report published by the bank itself. Is the crypto marketing getting ahead of itself? Is the Bitcoin ETF approval and halving already priced in?

NFT Market Cap (ETH): Ξ 5.6 Million 🔽 | $11.62 Billion (+8%)

Weekly NFT Volume (ETH): 77,683 🔼 +44.56%

Weekly NFT Traders: 56,279 🔼 +20.00%

Weekly NFT Loan Volume (USD): $129.7 Million 🔼 +12.30%

Weekly NFT Deposited as Collateral: 4081 🔼 +15.81%

Bored Ape Yacht Club: Floor: 31.05 ETH 🔼 | Volume: 17k ETH 🔽

Futureverse & NVIDA Partner to Propel Creator Economy with AI - NFT Now

This partnership is expected to enable consumers to create AI generated content at scale including Music, 3D Assets and more.

Inside the BAYC Co-Founder's NFT Shopping Spree - NFT Now

The founder admits he felt like he couldn't make significant NFT purchases during the bull market as every action of a BAYC team member were scrutinised and could lead to speculation.

Why So Many Crypto Games are Switching Chains - Decrypt

Anyone who has been around in a bull run can probably already guess the main answer. Gas Fees. Building games is expensive, and ongoing gas fees for user and developer actions can multiply that. This digs into some data from the top chains.

Airdrop farming may sound like work, but it can be as simple as trying out a few apps with a single wallet. Experiments with ENS in 2017 paid out big for a lot of users in 2021. More recently, Celestia dropped millions of dollars worth of TIA tokens simply using other chains. Adam presents a case for using multiple wallets on newer protocols without a token. Either way, crypto is one space where following your curiosity on new projects can sometimes have a much better payoff than following the hype of whatever the current thing is.

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