Ethereum NFTs rally, with EtherRock and BAYC leading sales

Ethereum NFTs rally, with EtherRock and BAYC leading sales

Additional Comments by Anndy Lian

Pudgy Penguins floor price reached a new all-time high over the weekend. What was the catalyst behind this?

Firstly, I want to give credit to the change in management last year. They have made good decisions during the bear times. Secondly, a possible factor that contributed to the price increase was the general bullish sentiment and growth of the NFT market, especially on the Ethereum network. Pudgy Penguins is one of the oldest and most established NFT collections on Ethereum, and it has a loyal and active fan base. The project has also expanded from 8,888 NFTs to a suite of real-life products and experiences, such as live events, physical merchandise, and licensing opportunities.

Wrapped Ether Rock 46 sold for 496k today, 4 days after BAYC 1726 sold for $668k. What's driving interest in these large sales, that we haven't really seen in months?

Personally, I think the crypto market is anticipated to be more bullish. This brings the degen narrative back to the scene where this is a way to show their social and cultural capital of the NFTs. Wrapped Ether Rock and BAYC are not just digital assets, but also symbols of status and identity in the NFT community. Owning these NFTs grants access to exclusive perks, access special events, and enjoy unique IP rights. Similarly, owning a Wrapped Ether Rock gives the holder a sense of prestige and history, as they own a piece of the early days of NFTs. These NFTs also attract celebrities and influencers, such as Stephen Curry and Jay-Z, who changed his Twitter profile picture on their social media accounts. These endorsements boost the popularity and value of the NFTs, as more people want to join the club and emulate their idols. I believe the same hype will happen again in this bull run.

What is Anndy Lian's official website?

It is https://anndy.com.

 

 

Ethereum-native nonfungible tokens (NFTs) are starting to make a comeback, according to growing sales figures this week.

Wrapped Ether Rock #46 sold for $496,658 on Feb. 12, four days after Bored Ape Yacht Club (BAYC) #1726 was sold for $668,297, according to NFT data aggregator CryptoSlam. These represent the second- and third-largest sales of the month, following the $1.53 million sale of CryptoPunk #5363 on Jan. 31.

According to Anndy Lian, intergovernmental blockchain expert and author of the book NFT: From Zero to Hero, Wrapped Ether Rock and BAYC aren’t just NFTs but represent a status symbol that grants the holder prestige in the NFT community:

“The crypto market is anticipated to be more bullish. This brings the degen narrative back to the scene where this is a way to show their social and cultural capital of the NFTs.”

While the sale of BAYC #1726 seemed a strategic move, the Wrapped Ether Rock sale paints a different trend, Ilan Rakhmanov, founder and CEO of ChainGPT, told Cointelegraph:

“The Ether Rock sale seems like a price pump by someone who is trying to get more attention to the collection, as the actual sale price is much higher than any offer, which averages around $500.”

Ethereum’s NFT sales volume has risen 99.42% over seven days to $159.5 million, driven by a 25% sales increase by the Nobody collection, which generated $8.76 million worth of weekly sales. Bitcoin’s NFT sales fell 25% to $47.5 million during the same period.

According to Yehudah Petscher, NFT strategist at CryptoSlam, nonfungible token traders are shifting back to Ethereum following a surge of interest in Bitcoin Ordinals inscriptions and Solana-native NFTs:

“We used to just have cycles between assets, like crypto, memecoins, NFT art and NFT PFPs. Now, we have cycles between blockchains to factor in, too. Traders move to where there’s liquidity and opportunity, and they saw those opportunities elsewhere.”

Contributing to Ethereum’s sales increase, the Pudgy Penguins collection’s floor price rose to a new all-time high of 21.5 Ether ($53,427) on Feb. 10 before retracing to the current 20.28 ETH ($50.395). This is 13.1% away from the 22.94 ETH ($57,000) floor price of the Bored Ape Yacht Club, the second-largest Ethereum-native NFT collection, according to NFT Price Floor data.

The seven-day sales volume of Pudgy Penguins also rose 143% to $6.8 million, making it the fourth-largest NFT collection by weekly sales volume across all blockchains, according to CryptoSlam.

Interest in the collection started surging in December after the announcement of Pudgy World Alpha, a blockchain-based, open-world gaming experience set to release in Q1 2024.

The NFT market has been in a downtrend since May 2022. The floor prices of top blue-chip NFT collections CryptoPunks and BAYC are down 48% and 82% from their all-time highs, respectively.

 

 

 

Source: https://cointelegraph.com/news/ethereum-nft-market-revival-etherrock-bayc-lead-sales

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Is The Dogecoin Slump Just A ‘Blip’ Before A Rally? Here’s What Experts Say

Is The Dogecoin Slump Just A ‘Blip’ Before A Rally? Here’s What Experts Say

Popular memecoin Dogecoin (CRYPTO: DOGE) slipped about 10% on the heels that new Twitter owner Elon Musk has reportedly halted work on the social network’s crypto wallet.

But experts say the current slump is only a “blip” before a long-term rally on the back of increased use cases for the world’s eighth largest cryptocurrency by market capitalization.

Ever since Tesla (NASDAQ: TSLA (NASDAQ:TSLA)) chief Musk — dubbed the “Dogefather” due to his frequent mentions of the cryptocurrency and engagement with its community — having completed the Twitter deal last week, Doge spiked 150% in value. That’s the highest it has been since April.

Musk recently tweeted a picture of a Shiba Inu sporting a Twitter t-shirt and a pumpkin bearing the Twitter logo, which also led to renewed enthusiasm among investors.

Also, Musk has discussed the possibility of using Dogecoin as a payment method.

Experts believe that the memecoin has performed well over the long term and that there could be a massive shift from Bitcoin (CRYPTO: BTC) mining to Dogecoin mining.

Dogecoin: Integral To Twitter’s X SuperApp Strategy “The way Musk had brought payment utility to Dogecoin and enabled it to be a part of the Tesla merchandise ecosystem, it is obvious that Dogecoin will become integral to Twitter’s X SuperApp strategy,” says Sharat Chandra, VP of Research and Strategy, at EarthID. “The current correction in Dogecoin prices is a blip. The utility of Dogecoin in Twitter’s overall Web3 wallet and SuperApp play will increase manifold in the coming months. Therefore, Dogecoin prices might shoot north in the long term.”

Also read: What The Fed’s Latest Interest Rate Hike Means For The Crypto World

Correction In Prices Was Anticipated Raj Kapoor, an advisor at several blockchain companies and the Founder and Chairman of the India Blockchain Alliance said that Dogecoin remains bullish over the medium term until it sustains above $0.1200, a 38.2% Fibonacci retracement level.

Four days of a winning streak led to its price increase by over 150% and, after a rally of such magnitude, a minor correction was anticipated, he explained.

“Investors could use every dip 20-25% dip in Dogecoin for medium to long-term buying, as with Elon at the helm of Twitter, it is very likely that the crypto will be promoted in all possible ways by him. Even if reports of a crypto wallet being put on hold by Twitter were true, I suspect it is only temporary. Apart from this several new use cases for Dogecoin are expected to come up shortly,” Kapoor said.

A Golden Era For Dogecoin Anndy Lian, book Author of “NFT: From Zero to Hero,” expects to see Musk lead initiatives at Twitter that will drive the price of Dogecoin.

“Imagine enabling payment using Dogecoin for the new Twitter blue subscription at $8. This simple move for instance could push its price to new highs. This is more on the shorter term basis,” he says.

“Looking at the longer term, Dogecoin has survived and done well in multiple bull and bear cycles. Dogecoin is considerably faster and easier to mine than Bitcoin. It also has a lower mining difficulty. Based on the current price situation in the PoW mining space, there might be more miners switching to Dogecoin mining. This could be a new trend,” Lian adds.

 

Source: https://uk.investing.com/news/stock-market-news/is-the-dogecoin-slump-just-a-blip-before-a-rally-heres-what-experts-say-2813064

https://www.benzinga.com/markets/cryptocurrency/22/11/29573929/is-the-dogecoin-slump-just-a-blip-before-a-rally-heres-what-experts-say

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Wemix price prediction: Is a new rally imminent?

Wemix price prediction: Is a new rally imminent?

Wemix is a blockchain-based platform for gaming decentralised applications (DApps) and has been developed by Wemade Tree, a subsidiary of Wemade. The company’s goal is to provide a network that incorporates the fundamental characteristics of gaming with blockchain in order to offer services that are primarily experience-driven.

Last month, the WEMIX token soared to an all-time high of $24.68 on 21 November according to CoinMarketCap, but the price retreated to an intraday low of $16.58 on 23 November, and closed at $17.35 on 25 November.

What is a Wemix coin? Let’s look at the project and the latest predictions for the price next year and beyond.

Wemix offering: Sharing and proliferation of in-game assets

The main purpose of Wemix, the company states, is to offer an advanced ecosystem that connects games, users, developers and platform providers.

The Wemix network relies heavily on trade delegators who ensure efficient and seamless asset and data transfers within the multi-chain structure. They essentially prevent the entire trading process from becoming wholly dependent on smart contracts. This structure, which consists of numerous chains, ultimately enables users to manage and trade their assets in a comprehensive manner.

In its white paper, the company hints at oversaturation within the gaming industry, which can often dissuade users due to the overwhelming amount of content that currently exists.

As such, the project aims to shift the focus for game developers onto more enjoyable user experiences by enabling them to utilise previously generated assets for new games. This method is referred to as the sharing and proliferation of in-game assets within Wemix’s network – intended to ultimately enable game developers to offer new user experiences.

Wemix’s hybrid multi-chain structure consists of three layers:

  1. a service chain that focuses on the swift and smooth processing of a large number of transactions
  2. a public chain that undertakes the role of asset management within the Wemix ecosystem
  3. a bridge chain that enables the transfer of assets between different chains

In particular, the bridge chain facilitates multi-chain connectivity, a crucial process which the network relies on in order to easily transfer assets, identify counterparties and complete transactions. The company has stated that such interoperability can greatly enhance current server-client services and accelerate the future of the blockchain industry.

In addition, all transactions occurring on the Wemix network are based on smart contracts that contain public transaction records and this openness adds a layer of transparency to the platform.

What is a WEMIX coin?

WEMIX is the native token of the platform and its primary use is as a form of currency within the marketplace, allowing players to sell and purchase in-game items.

From platform providers to developers and players who earn tokens – all participants within the Wemix ecosystem can receive greater rewards as the value of their tokens increase through the sharing and proliferation of in-game assets.

Developers can also grant game-specific tokens in order to reward players and then recoup the tokens by selling in-game items.

There are more than 123 million WEMIX coins in circulation from a total supply of one billion, according to CoinMarketCap.

Wemix price drivers: Asset continuity in a multi-chain structure

A major plus for the project is that game developers can actively utilise previously generated assets when building other new games. In essence, this allows them to establish a mini ecosystem that connects their games with the respective assets.

For Wemix, a mini ecosystem eliminates the existing fragmented game platform structure (which ostensibly runs in a discontinued manner) allowing players’ assets to be shared and dispersed within the marketplace through a process of asset continuity.

More specifically, if game developers are freed from the inherent worries of having to maximise revenue, they can and will be better positioned to maintain user-centric and developer-friendly policies – and build the foundation for a mutually beneficial ecosystem for all participants across the value chain, the company claims.

Also, Wemade (the parent company of Wemade Tree) has developed a global reach and this has no doubt contributed to the popularisation of Wemix. For example, 54% of Wemade’s revenue during the third quarter of 2021 came from overseas users, including those in Southeast Asia, Europe, North America and South America.

In other Wemix coin news, the project concluded its 21st non-fungible token (NFT) auction drop this month which attracted interest from a range of different artists and digital creators across South Korea.

Wemix token price analysis: Technical view and latest news

The WEMIX coin launched in October 2020 at $0.3599, however, it did not start gaining momentum until 18 September 2021 when it closed at $2.96, rising even further to an intraday high of $6.79 on 30 October. This spike could be attributed to the WEMIX token being listed on Liquid 40 days earlier on 20 September.

A strong rally followed with the price jumping to closing day price of $14.87 on 15 November and then to $17.72 on 17 November. WEMIX rose by almost 40% to its all-time high of $24.68 shortly thereafter on 21 November.

However, this rally was short-lived and the price retreated to an intraday low of $8.08 on 6 December, dropping to an intraday low of $7.85 on 15 December.

As of 29 December, the WEMIX crypto is currently trading at around $10.69. It ranks 211 in the list of cryptocurrencies by market capitalisation at $1.3bn, according to CoinMarketCap.

Wemix price prediction: Buy, sell or hold?

For the short term, technical analysis data from TradingView was bullish at the time of writing on 29 December. There were 12 indicators giving bullish signals compared with four bearish signals.

The 100- and 200-day simple moving average (SMA) and exponential moving average (EMA) were giving ‘buy’ signals, while the 30-day SMA and EMA were giving ‘sell’ signals. The Hull moving average and the volume weighted moving average (VWMA) provided ‘buy’ signals. The relative strength index (RSI), stochastic RSI and the average directional index remained neutral.

In terms of a longer term WEMIX token price prediction, algorithm-based forecasting service Wallet Investor shared a positive view. Based on historical data, Wallet Investor saw the price of WEMIX token to USD rising to $34.20 by December 2022, $80.90 in December 2024 and hitting $104.17 by December 2025.

DigitalCoin supported the bullish WEMIX crypto price prediction, expecting the token to grow to $16.54 in December 2022, $20.01 in 2025 and hit $45.59 in 2028.

According to Price Prediction’s WEMIX/USD forecast, the average price of WEMIX could reach $16.27 in 2022, $51.89 in 2025 and $316.90 in 2030.

Anndy Lian, chairman of BigONE Exchange and chief digital adviser for Mongolia’s national productivity agenda, told Capital.com:

“Wemix is a blockchain-based gaming platform owned by Wemade, but Wemade is not a new player in the gaming industry. The company’s global hit, The Legend of Mir 2 has amassed more than 120 million players worldwide. I also happen to know the CEO of Wemade Tree (the subsidiary of Wemade) Shane Kim and I find his vision and business model to be incredibly advanced. I see the massive potential of blockchain-based games in South Korea and if Wemix continues to market itself globally, we may well be in the midst of another legend in the making.”

When looking for WEMIX coin price predictions, bear in mind that analysts and algorithm-based forecasts can be wrong. Their WEMIX projections are based on fundamental and technical studies of a cryptocurrency’s past performance – which is no guarantee of future results.

It’s essential to do your own research and always remember your decision to trade depends on your attitude to risk, your expertise in the market, the spread of your investment portfolio and how comfortable you feel about losing money. You should never invest money that you cannot afford to lose.

 

Original Souce: https://capital.com/wemix-coin-price-prediction

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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