Tag: Cointelegraph Consulting

Cointelegraph Consulting: Gaming tokens usher in altcoin season
Altcoins

Cointelegraph Consulting: Gaming tokens usher in altcoin season

While Bitcoin remains in a cool-off period after thrusting to its all-time high in early November and the decentralized finance (DeFi) sector in an apparent dry spell, gaming tokens seem to have taken the spotlight as massive gains are seen across the industry. The Sandbox’ SAND captured headlines as it spearheaded the enthusiasm for gaming tokens, with over 340% gains in the past month. Another one is GALA, with a similar 300% rally in November. Such coins, including those under the metaverse sphere like Decentraland’s MANA and Illuvium’s ILV, gained momentum after Facebook’s rebranding to Meta, suggesting that gaming tokens could be preceding a new altcoin season.An altcoin season is defined as when a majority of the top altcoins outperform Bitcoin (BTC) over a set period. For examp...
NFT sales aim for a $17.7B record in 2021: Report by Cointelegraph Research
Analysis

NFT sales aim for a $17.7B record in 2021: Report by Cointelegraph Research

In 2010, if someone had told you that Internet memes, digital artwork and Twitter avatars would sell for hundreds of thousands of dollars, would you have believed them? Well, these are nonfungible tokens, or NFTs, in a nutshell. NFTs are driving blockchains toward uncharted territory on the backs of cute kitties and pixelated punks. What may appear to be a shroud of speculation over pointless collectibles is actually the clouded horizon of fintech innovation. NFTs represent a turning point. Blockchain technology is now being used to represent assets beyond the chain. In order to understand the thriving and intriguing world of NFTs, the Cointelegraph Research team delves deep into this new space, presenting the findings in the latest report “Nonfungible Tokens: A New Frontier.”This rep...
Blockchains vie for NFT market, but Ethereum still dominates — Report
Blockchain News

Blockchains vie for NFT market, but Ethereum still dominates — Report

This month, Cointelegraph Research will release a comprehensive report on nonfungible tokens, discussing NFTs in detail and providing a detailed guide to getting into this market. In collaboration with multiple partners — including Enjin, NFTBank, The Sandbox and others — the report will evaluate the technology behind NFTs, their regulatory challenges, and their prospective growth and current market positions. The report will also outline the hurdles that the market may encounter in the future, and potential ways to overcome them.At the beginning of 2021, there was increased interest in NFTs, with the largest NFT marketplace, OpenSea, experiencing a hundredfold sales increase in half a year. The total volume of NFT sales reached $2.5 billion in the first half of 2021, almost eigh...
Cointelegraph Consulting: How Avalanche is reimagining DeFi
Altcoins

Cointelegraph Consulting: How Avalanche is reimagining DeFi

It’s not the first time that the native token of the Avalanche blockchain has encountered wild fluctuations. In February, AVAX shot as high as $60 only to reach a nadir in June and July. But after bottoming at $9.34, AVAX is now beyond $60 and is currently trading at $76. This has earned it a spot in the top 20 cryptocurrencies by market capitalization with $16 billion, according to Cointelegraph Markets Pro. Avalanche is among the layer-one blockchains tagged as “Ethereum killers” that appear to have reduced the recent dominance of the top altcoin in terms of total locked value (TVL). Of the $170 billion in TVL, Ethereum presently controls 67% based on data from Defi Llama. But while the number appears high, it’s actually much lower than February when it contained about 96% in TVL.Backgro...
Cointelegraph Consulting: Going down the Metaverse
Blockchain News

Cointelegraph Consulting: Going down the Metaverse

As nonfungible token sales appear reanimated after a nearly two-month dry spell from their apex in May, a particular NFT application is gaining popularity more than ever: metaverses. Metaverses have gained their fair share of media attention lately, with big moves coming from companies like Facebook and Epic games. However, not everyone — even those who have been in crypto for a long time — has caught on to what metaverses are, despite the hype. But as more companies, celebrities and artists venture into the space, it has become another domain that deserves some thorough consideration.The Metaverse is a network of virtual environments in which people can interact with each other, digital objectsand the physical world through their avatar. While definitions of the Metaverse vary, they orbit...
Will Polkadot save decentralized finance from Ethereum’s scaling problems?
Altcoins

Will Polkadot save decentralized finance from Ethereum’s scaling problems?

Web 3.0, interoperability and layer zero are all terms tossed around when describing Polkadot. But what do they mean, and how will they impact the internet and cryptocurrency market? Cointelegraph Research’s new report explores how Polkadot is tackling distributed ledger scalability and centralization of the web simultaneously. For starters, imagine a world where Facebook is replaced by a decentralized social media application built on Polkadot. This is what projects like Subsocial are building in their platforms, which let users determine what data to keep private and what to share. Users can profit from selling their data stored in the blockchain to third-party companies by minting Ocean Protocol tokens, OCEAN, and selling them on a decentralized exchange like Polkadex.Not happy abo...
Cointelegraph Consulting: Measuring the effects of the London hard fork
Etherium

Cointelegraph Consulting: Measuring the effects of the London hard fork

The much-talked-about Ethereum hard fork finally went live on Aug. 5 after block 12,965,000 was mined. Dubbed “London,” the software upgrade will bring together significant alterations in Ethereum’s code. Overall, the code changes target improvements to the network’s transaction fee market, user experience and much more.London comes with five Ethereum Improvement Protocols (EIP), with EIP-1559 garnering the most attention due to the impact on transaction fees and miner revenue, which initially caused miners to push back, raising concerns over the protocol consensus and a potential chain split. EIP-1559 was originally proposed in April 2019 and underwent testing back in June prior to the launch. What’s most pressing about EIP-1559 is that it’s primarily geared toward improving Ethereum’s tr...
Cointelegraph Consulting: Stablecoin activity drops after May peak
Altcoins

Cointelegraph Consulting: Stablecoin activity drops after May peak

Stablecoin usage lost steam amid the recent crypto market downturn. From peaking at nearly $2 billion on May 19, the daily transaction volume has fallen off its 2021 average by about 60%. The significant drop begs the question about stablecoin activity in the current market environment.Unsurprisingly, the two cryptocurrencies that remain in a tight race for stablecoin dominance are Tether (USDT) and USD Coin (USDC). However, the market holds a fine distinction between the two, particularly with their corresponding reserve holding. Credit rating agency Fitch Ratings even warned recently about Tether's risk triggering a destabilization in short-term credit markets, since its reserves are not all in cash. On the other hand, Fitch cites USDC as an example of a fully backed safe asset since it ...
Cointelegraph Consulting: Report pictures a crypto-consumer portrait
Altcoins, Blockchain News

Cointelegraph Consulting: Report pictures a crypto-consumer portrait

Bitcoin’s status as legal tender in El Salvador has recently sparked a new round of discussion concerning Bitcoin (BTC) and its role in the world economy. Despite ambiguous reactions from institutions such as JPMorgan Chase and the World Bank, some feel that Bitcoin’s status as a means of payment is now more explicit than ever.Meanwhile, the perception of Bitcoin among retail users is contrasted sharply by institutional uncertainty. A recent study by CryptoRefills, a company that sells vouchers and gift cards in exchange for cryptocurrency, seems to suggest that many users view Bitcoin as a useful way to pay for goods and services, with 66% of survey respondents stating that they view cryptocurrencies as a method of payment.Among the group surveyed, data suggests that Bitcoin is the most p...
Cointelegraph Consulting: DeFi hit by a tsunami of liquidations in May
Altcoins

Cointelegraph Consulting: DeFi hit by a tsunami of liquidations in May

The savage sell-off that took place in mid-May fueled volatility in markets and triggered liquidations among numerous decentralized finance protocols. Like an earthquake, the market fall exacerbated the biggest wave of liquidations in DeFi history. The market experienced a higher amount of liquidation on May 19 than in the past two years in the DeFi space. As part of the Market Insights bi-weekly newsletter, Cointelegraph Consulting teamed up with Covalent to investigate the liquidations on Aave, Compound and Maker. While the three DeFi protocols account for nearly 50% of all DeFi total value locked, according to DappRadar, they saw liquidations hitting a record of over $1.17 billion worth of collateral recently.The largest single day of liquidations so far was May 19 as the three pro...