Dormant Bitcoins Near Record Highs, Solana Theme Stores Close
Outlook money
Here are some important developments from the crypto world in the last few days
Blockchain analytics firm Glassnode reported that the number of dormant Bitcoins that have not been traded in at least six months is almost at a new all-time high.
Citing the Glassnode report, Decrypt said that such dormant coins stand at 14.99 million, worth roughly $370 billion at today’s prices. The all-time high is 15.029 million in December 2022.
Bitcoin investors are again focusing on long-term gains leading to a growing number of dormant coins, said the CEO of Arkham Intelligence, a blockchain company. “Other chains like Ethereum have communities building tools and services where coins move significantly more, mostly in pursuit of profit,” he added.
Solana-themed stores are closing in the US
All physical stores operated by Solana Spaces will be closed by the end of this month, the company announced Tuesday. The company has used storefronts in New York City and Miami to present the Solana blockchain.
The startup reached “an inflection point” over the past two months and will pivot away from brick-and-mortar experiences and into NFTs, CoinDesk CEO Vibhu Norby was quoted as saying in Solana. Solana Spaces will rebrand itself as DRiP, a boutique NFT distribution platform he also promoted in his stores.
The stores closed seven months after Norby opened Solana Space’s first location in a glitzy mall in New York City’s Hudson Yards. Staff guided visitors through interactive stations where they learned how to use Solana, from creating a crypto wallet to trading tokens. In Miami, Norby had opened another store.
Blur will release $300 million in additional tokens to ‘loyal’ NFT traders
After surpassing OpenSea as the most popular Ethereum NFT trading platform by trading volume, Blur announced on Tuesday that it will issue an additional $300 million worth of tokens to loyal users.
Blur will issue 300 million of its initial BLUR tokens to traders during the platform’s “Season 2,” which has already begun, Decryption reported. BLUR is currently trading at $0.99.
Season 1, which concluded with the debut of the native token BLUR last week, saw Blur hand out “care packages” of BLUR to traders who migrated to the platform from a competing NFT marketplace.
Currently, Blur customers are awarded a “loyalty point” based on their interaction with and commitment to the trading platform, and buyers and sellers who refrain from using any other NFT marketplace will receive a 100 percent loyalty point. They will get free tokens in season 2.
