🦎🚀 OpenSea got Blurred

Tuesday, February 21, 2023

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An eventful week ahead

China's only public blockchain Conflux saw its token price rallied about 1,335% year-to-date (YTD) amidst the increasing interest in Chinese crypto projects.

The Conflux Network, or Shanghai Tree-Graph Blockchain Research Institute, is the only regulatory-compliant, public and permissionless blockchain in China. It is a layer-1 blockchain built on a hybrid proof-of-work and proof-of-stake mechanism.

Over the same period, the broader crypto market cap has surged merely 45% YTD which pales in comparison; CFX is up nearly 500% the past week alone.

In today's news, Blur catapults past OpenSea as Ethereum NFT trading picks up, institutional investors' digital asset holdings bleed over clampdowns and Ordinals set afoot on Litecoin.

Read on!

24h Hot Searches Worldwide

Blur (-3.8%)
Conflux (+40.2%)
Camelot Token (+1.7%)
Vela Token (-0.6%)
Linear (+86.2%)
Stacks (+16.4%)
Alchemy Pay (+6.6%)

FTX Political Donations: Top 10 Recipients, Ranked

Out of the top 10 recipients, 38.7% or $28 million was made out to Protect Our Future (POF), a liberal political action committee. SBF provided the primary funding for POF PAC, which had the goal of assisting legislators with creating long-term policies related to planning and pandemic readiness.

Overall, right wing, conservative recipients comprised 26.9% of the top 10, while left wing liberals benefitted 62.6%.

Pro-crypto, non-partisan super PAC GMI, ranked sixth, received $3.5 million from former FTX CEO SBF and former co-CEO Ryan Salame.

Get the full breakdown: https://gcko.io/hwvfv8e

What does DYOR actually mean? In this video, we'll share 12 helpful tips for you to research crypto like a pro 😎

Tap here to watch!

Newcomer Overtakes

Blazing NFT marketplace Blur has leapfrogged OpenSea to claim leading position as Ethereum NFTs sees trading volume soar.

In the past week alone, Blur generated $460 million worth of Ethereum NFT trades while OpenSea and X2Y2 saw about $107 million and $11 million respectively.

Portion of community members attribute the rise in trading volume to Blur's rewards model, which saw whale traders with significant NFT holdings flipping with even greater frequency to boost potential rewards.

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Through The Cracks

Regulatory crackdowns on the digital asset industry ranging from stablecoins, staking services to crypto custody may have jolted a $32 million outflow this past week.

Outflows peaked at $62 million mid-way through last week, with improved sentiments later in the week dampening the blow.

Crackdowns on the crypto industry lately include the charges against cryptocurrency exchange Kraken and lawsuit against custodian Paxos over the minting of Binance USD.

Cointelegraph

More PoW NFTs?

Inaugural Bitcoin NFT project Ordinals saw strong traction taking over the Bitcoin community, and has now been introduced into the Litecoin blockchain.

Software engineer Anthony Guerrera implemented the fork to Litecoin, mainly driven by the bounties publicized on Twitter to port Ordinals to Litecoin.

The Ordinals NFT project achieved great success since launch, with over 154 thousand inscriptions created to date.

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