NFT land sells for 550 ETH, eToro to delist ADA and 1M ETH burned since August: Hodler’s Digest, Nov. 21-27

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Axie Infinity virtual land slot sells out for 550 ETH A plot of virtual land in the widely popular monster-battling NFT game Axie Infinity sold for 550 Ether (ETH) this week, with the sum worth more than $2.2 million at the time of writing.  The…

Online content streaming is dead. Long live the music NFTs

The music industry has undergone a massive transformation in recent years. We have seen the advent of the internet leave its mark on music, and most notably, 1999 spelled the coming of Napster. This then-revolutionary peer-to-peer online streaming service defined a whole generation and enabled musicians to share their creations with the world. Streaming has become the dominant format for music today, through Apple, Amazon, Tencent Music and the clear category winner — Spotify. The goal of distribution services and platforms like Spotify is to enable and empower artists to…

Consistent average returns over 5%

If you look at crypto assets’ price movements as a series of isolated events, the picture is messy. Sure, some traders can occasionally win big off one-time events or thanks to sensing a meme-inspired trend. In the long run, however, most of these “fortuitous” traders tend to lose. Why? Because they have to pick big-time winners to cover all the times they miss their targets. For every Shiba Inu, there were a thousand coins that didn’t moon. Which is why crypto traders who employ processes rather than try to predict…

Facebook’s centralized metaverse a threat to the decentralized ecosystem?

Facebook has been planning its foray into the metaverse for some time now — possibly even several years. But it’s only recently that its ambitious expansion plans have catapulted the concept into mainstream headlines across the globe. Renaming the parent company to Meta was perhaps the biggest, boldest statement of intent the firm could make. Suddenly, major news outlets were awash with explainer articles, while finance websites have been bubbling with excitement about the investment opportunities in this newly emerging sector.  However, within the crypto sphere, the response has been…

The path to crypto adoption

Nonfungible tokens (NFTs) are evolving from a niche interest to a mainstream conversation. The variety of NFT art — from cuddly to edgy to menacing — is drawing in a new audience of enthusiasts. Beyond the art, NFTs are providing a glimpse into a new layer of social interaction. When framed as micro-social networks, NFTs could lead the way to a new form of social media based on creativity, ownership and contribution.  Groups serve as epicenters of NFTs projects Every week, dozens of Discord and Telegram groups appear in support…

1M ETH burned since EIP-1559, and Dorsey drops tbDEX white paper, Nov. 19–26

Welcome to the latest edition of Cointelegraph’s decentralized finance newsletter. ETH is burning at a rapid rate! Read on to discover the statistics behind Ethereum’s pursuit of deflationary mechanics. What you’re about to read is a shorter, more succinct version of the newsletter. For a comprehensive summary of DeFi’s developments over the last week, subscribe below. $4.24 billion in ETH burned since EIP-1559 event Blockchain analytics platform CryptoRank shared quantitative data this week that revealed an excess of 1 million Ether (ETH), worth approximately $4.24 billion, has been burned since…

Bitcoin sentiment in ‘wild’ divergence from reality as $53K BTC triggers ‘extreme fear’

Bitcoin (BTC) has stabilized at around $55,000 after dropping by $6,000 in a single day — but crypto market sentiment is still in shock. According to the Crypto Fear & Greed Index, as of Nov. 27, emotions are now at the most fearful since late September. Crypto sentiment dives into “extreme fear” Fear & Greed, which takes a basket of factors to compute a standardized sentiment score for crypto markets from 1-100, currently sits at 21. Friday took its toll on the metric, the score more than halving in 24…

Vitalik Buterin proposes calldata limit per block to lower ETH gas costs

Ethereum (ETH) co-founder Vitalik Buterin has proposed a new limit on the total transaction calldata in a block to decrease the overall transaction calldata gas cost over the ETH network.  Buterin’s post on the Ethereum Magicians forum, EIP-4488, highlights concerns regarding high transaction fees on Layer-1 blockchains for rollups and the considerable amount of time to implement and deploy data sharding: “Hence, a short-term solution to further cut costs for rollups, and to incentivize an ecosystem-wide transition to a rollup-centric Ethereum, is desired.” While the entrepreneur cited an alternative wherein…

Democratic senators oppose President Biden’s OCC Omarova nomination

A group of five Democratic senators has reportedly rejected President Joe Biden’s nominee, Saule Omarova, to head the Office of the Comptroller of the Currency (OCC).  Omarova’s nomination as a bank regulator was initially opposed by three members of the Senate Banking Committee — Senators Jon Tester, Mark Warner, and Kyrsten Sinema — on a phone call with panel chairman Sen. Sherrod Brown, as reported by Axios. The opposition was further supported by Senators John Hickenlooper and Mark Kelly. Omarova is known for anti-crypto sentiments who has previously worked as…

OKEx shared insights on trading, regulation, DeFi and more during recent Markets Pro AMA

Founded in 2017, OKEx is a centralized cryptocurrency exchange based in Seychelles. According to CoinGecko, OKEx is the world’s third-largest cryptocurrency brokerage, with nearly $12 billion in trading volume within the past 24 hours. The exchange lists 312 coins and 518 cryptocurrency trading pairs. It’s often difficult for new cryptocurrency enthusiasts to navigate the complex world of trading and finance. OKEx seeks to bring such sophisticated trading methods to everyday users’ disposal by building simple user interface. During an exclusive ask me anything, or AMA, session with Cointelegraph Markets Pro…