Crypto NFT Today: The latest news in blockchain, cryptocurrency and NFT: 2-8 November 2022
Welcome to another edition of Crypto NFT Today! If you like cryptocurrency, NFTs and riding emotional roller coasters, this is the place to be.
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Twitter introduces “Tweet Tiles”
Twitter’s massive shakeup is affecting the blockchain world. Despite a busy week, Twitter launched a new feature around NFT’s Friday. The site is testing “Tweet Tiles” to extend links to certain NFT marketplaces, a chirping from Twitter’s developer account revealed.
The move will allow users to buy and sell NFTs through tweets in collaboration with the marketplaces.
Platforms the integration currently operates with include Magic Eden, Rarible, Dapper Labs and Jump.trade.
Reddit recently opened its platform to the NFT market, and with Elon Musk now at the helm of Twitter, a whole new world related to cryptocurrency and blockchain technology may soon appear on the platform.
“Without a doubt, you can bet that Elon and his team are seeing what’s happening with Reddit and thinking about the possibilities with Twitter,” Mahesh Vellanki, managing partner at crypto venture firm SuperLayer, told Blockworks. “Perhaps they will choose to include payments, in addition to NFT integrations, perhaps with Bitcoin’s Lightning Network or Solana Pay.”
Dogecoin benefits from Twitter acquisition
Dogecoin has seen gains of 94% in the past week, marking a growth in total value from around $8.1 billion to $15.9 billion. It has even surpassed coins like Cardano and Solana, becoming the eighth largest cryptocurrency by market capitalization, according to CoinGecko.
Musk has been a proponent of memecoin since as far back as 2019, when he first tweeted about the token.
In 2021, Musk’s aerospace company SpaceX decided to accept Dogecoin as payment. The long history between the billionaire and the Shiba Inu-faced crypto has many investors convinced that it could become the digital currency of choice for Twitter transactions going forward.
Binance Sees $1.1 Billion in Bitcoin Withdrawals in 24-Hour Period
Binance saw a record withdrawal of Bitcoin from the platform on Wednesday. Binance saw a net position change of over 55,000 BTC on October 26 – the largest ever.
Bitcoin’s moderate rally and return to six-week highs on Wednesday led to a marked change in the exchange’s user behavior, with BTC balances falling across the board.
The outflows beat all other buying sprees, including the $17,600 drop in June this year and crash in March 2020, according to CoinTelegraph.
Digital Yuan Pilot Phase Expands
China’s digital yuan pilot phase is showing promising results, expanding to include millions of users and billions in transaction volume.
Chinese central bank governor Yi Gang spoke about the progress of the digital currency and emphasized the importance of privacy during this year’s Hong Kong Fintech Week.
In his speech, he explained how the two-tier payment system would offer verifiable anonymity to users.
According to Gang, the level one central bank supplies digital yuan to authorized operators and only processes inter-institutional transaction information. At level two, the authorized operators only collect the personal data necessary for their exchange and circulation services to the public.
Wall Street Crypto adoption is accelerating
