Read in the Digest
- Ethereum to be added to Twitter’s tip jar soon.
- Binance – Dogecoin drama comes to a close – DOGE surges by 30%.
- Binance to support Avalanche, Tezos, and THETA Network upgrades + new ALCX listing.
- Microstrategy buys an additional 7,002 Bitcoin, total stakes rise to $7 billion.
- DeFi trader wrote the Kardashians’ theme song, Snoop Dogg makes NFT debut.
Ethereum to Be Added to Twitter’s Tip Jar Soon
An insider report suggests that Ethereum could be the next cryptocurrency to feature on Twitter’s tip jar. The social media giant introduced the tipping feature on its platform to allow its users to send money to support the content creators of their choice.
In September, Twitter revealed its plans to give users the ability to add Bitcoin and Ethereum addresses to their profiles, allowing them to receive tips in cryptocurrencies.
Twitter user @CryptoWhale, suggests that Ethereum (ETH) could be the next crypto to make it to the tipping jar. Ethereum has been hailed for having more functionality than Bitcoin, and its inclusion would make more sense than Bitcoin.
- Twitter co-founder, and long time supporter of crypto, Jack Dorsey has stepped down from his position as CEO, leading many to question Twitter’s future activity with crypto.
Why You Should Care
Twitter has already played an important role in the development of cryptocurrencies. Integrating more crypto options into its platform could be beneficial to crypto as a whole.
Binance – Dogecoin Drama Comes to a Close – DOGE Surges By 30%
The world’s largest crypto exchange, Binance, has closed the curtain on its Dogecoin saga, announcing the reopening of DOGE withdrawals after 17 days. Binance had halted all DOGE withdrawals after a system glitch was identified during the DOGE wallet upgrade.
The halt of DOGE withdrawals on the platform sparked outcry from the DOGE community, with some users reporting that Binance had allegedly asked them to return Dogecoins that they did not possess.
The tense events saw Dogecoin evangelist Elon Musk, and CEO of Binance, Changpeng “CZ” Zhao, exchange heated words. Musk, who encouraged the Dogecoin community to abandon centralized exchanges, confirmed that Dogecoin withdrawals are now active once more.
Following the news, the number 1 meme coin’s value has jumped by more than 30%, setting a new 7-day high in the process. The 24 hour trading volume of DOGE is also up by 150%. At the time of this writing, DOGE is trading at $0.2210.
The 24 hour price chart for Dogecoin (DOGE). Source: Tradingview
- Following the contentious events, CZ has announced a promo to give away a custom Tesla and $50,000 worth of dogecoin
Binance To Support Avalanche, Tezos, and THETA Network Upgrades + New ALCX Listing
Avalanche is set for a network upgrade on December 2nd, Tezos on December 3nd, and THETA on December 5th. Deposits and withdrawals of their respective tokens will be briefly suspended in the lead up to the upgrades.
Binance revealed that it will handle all of the technical requirements involved for all users holding AVAX, XTZ, and THETA in their Binance accounts, and will reopen deposits and withdrawals for the tokens when they deem the upgraded networks to be stable.
The exchange has further announced that it will be listing Alchemix, a DeFi protocol that allows for the creation of synthetic tokens, on November 30th, with ALCX/BTC, ALCX/BUSD, and ALCX/USDT trading pairs. Withdrawals for ALCX will open on December 1st.
- Cardano (ADA) has been on the receiving end of negative exchange relations, as Israeli exchange eToro plans to delist the coin by the year’s end
Microstrategy Buys an Additional 7,002 Bitcoin, Total Stakes Rise to $7 Billion
Pro-Bitcoin investor and CEO of Microstrategy, Michael Saylor, announced that the company added a further 7,002 bitcoins to its portfolio during the fourth fiscal quarter. According to a statement, Microstrategy acquired Bitcoin for an average price of $59,000, amounting to $414 million worth of the asset.
According to the Form 8-K filed with the United States Securities and Exchange Commission (SEC), the business intelligence, mobile software, and cloud-based services firm, run by Michael Sayor, had acquired 7,002 BTC between October 1st and November 29th, 2021.
MicroStrategy now holds 121,044 bitcoins, worth approximately $7 billion. Interestingly, Microstrategy spent roughly $3.6 billion to acquire their entire bitcoin holdings, with an average purchase price of approximately $29,534 per token.
- Some investors believe that if BTC’s value takes a hard plunge, then MicroStrategy could struggle to pay off its over $2 billion debt which it has accumulated in purchasing its Bitcoins.
Why You Should Care
The bet on Bitcoin made by Michael Saylor and other venture capitalists has paid off thus far, as Bitcoin remains up almost 100%, year to date.
DeFi Trader Wrote the Kardashians’ Theme Song, Snoop Dogg Makes NFT Debut
DeFi traders are often pictured as nerds chasing the next big trend. However, Aaron Lammer, a DeFi Trader at Steve Cohen-Backed Firm, breaks the norm as he is a co-writer of the “Keeping Up With the Kardashians” theme song, along with Drake and Kanye West.
Lammer’s impressive resume continues as he is also the editor of the Rick Bayless cookbook, and a co-founder of Longform.org, a website popular for showcasing long pieces of good journalism. In the crypto space, he is famous for his podcast, “CoinTalk.”
Hip-hop legend Snoop Dogg is the latest to debut in the NFT space, collaborating with digital multimedia artist Coldie. His first NFT, “Decentralized Dogg,” was minted on NFT marketplace SuperRare, on November 29th.
The collection features a stereoscopic 3D collage of 10 different portraits of Snoop Dogg in various stages throughout his life. In addition, each NFT has an original NFT-inspired soundtrack by Snoop.
The Decentral Eyes Portrait Series by Snoop Dogg will be on auction until December 3rd. At the time of this writing, the highest bid is for 169 Ether, or about $760,000 USD, at current prices.
- While NFTs have taken the world by storm in 2021, investors still believe that a lot of digital arts are overpriced.
Why You Should Care
As the NFT market matures, we are seeing more viable use cases, suggesting that it’s only a matter of time until widespread, mainstream adoption.