Crypto NFT Today: The latest news in Blockchain, Cryptocurrency and NFTs: June 15 – June 21, 2022

Where do I start? Cryptocurrency is in free fall. The market floor for Bored Ape is now below $ 100,000, Bitcoin and Ethereum are reaching the 2020 lows, and now we are in “crypto winter.” So the question is, can it recover?

After screaming internally, in short, my answer is yes.

Now, I’m not here to “be an expert”, but as a long-term investor and technology supporter, there is a need and benefit to using a blockchain for several reasons. The good news is that we do not even have to break into that conversation to justify a setback in this serious market climate. Global companies invest in NFTs, metavers scalability and support for cryptocurrencies through payments. If anything, the market is not even close to breaking the top of the iceberg.

It’s just a matter of when.

I think it is important to note that many other markets, including Wall Street and the stock market, will continue to fall, and some estimate that this may continue for years. General goods, gas and the cost of living are also increasing. Inflation reaches absurd heights globally. Now is a great time to be frugal and focus on maintaining good habits!

Trends

The Thrill of the Grill: Your guide to the best grills for this year’s 4th of July celebration

Let’s now go into some market updates.

Binance doubles its commitment to the cryptocurrency sector

While global crypto exchanges are pulling workers ahead of “crypto winter” and incredibly vague market figures, industry leader Binance has doubled its commitment to the cryptocurrency sector. Binance’s CEO, Changpeng Zhao, announced the company’s commitment to increase its global strengths through 2022.

Binance employs over 2,000 positions globally. Click here to see Binance’s job postings.

Anonymous main developer of Shiba Inu peas much awaited Layer-2 Blockchain, Shibarium

Shytoshi Kusama, Shiba Inu’s anonymous lead developer, shared a new update on WELLY’s Discord. Shy confirmed that the Layer-2 solution, known as Shibarium, is coming soon, adding that it “is already under discussion to increase efforts.”

Shibarium is one of the most talked about Layer-2 Ethereum blockchain solutions that will hopefully provide transaction relief and a safe, creative space within crypto and web3. The release of this project should add enormous value to the Shiba Inu ecosystem as a whole.

There is currently no official timeline for the release of Shibarium.

Researchers introduce fully decentralized Stablecoin related to electricity

Researchers and researchers at the Lawrence Livermore National Laboratory in California are introducing a new fully decentralized stablecoin linked to a physical asset; electricity.

But what does this really mean?

This “fully secured stable coin” is linked to a physical asset, and its value depends on the use of electricity as a tool. Apparently, researchers say that energy can be transferred without the need for any physical wires or an online transmission system. This stablecoin, which was originally introduced as an e-stablecoin or electricity stablecoin, would be the first of its kind.

Any anonymous party can embed an E-Stablecoin token with the input of about one kilowatt hour of power. They can then trade the digital token like any other cryptocurrency or even turn it back into usable electricity without needing electric power companies, electric transmission lines, permits or authorities, so it is a trust-free system from top to bottom, “explained Maxwell Muriado, one of the researchers involved in the project.

This news potentially means the end of high transaction fees with global exchanges and could create new tension in the industry.

Coinbase lays off the highest employee prices for any cryptocurrency exchange

Coinbase lays off almost 1/5 of its active workforce, leading to recent layoffs of massive global crypto exchanges. As a result, CEOs and executives are preparing for a sharp decline in market value, production and the inevitable “crypto winter.” Crypto.com will lay off 5%, Robinhood 9%, Gemini 10%, BitMex 25% and many more employees in the market.

For Coinbase, their recent layoff announcements fell oddly after their recently aired commercials debuted during the NBA Finals on Monday.

The WELLY NFT collection launches a Shib community success

The WELLY NFT collection was released this week, and it proved to be a huge success, led by the strong efforts of the Shiba Inu ($ SHIB) community. While thousands of NFTs were collected over the weekend through initial embossing or purchases on OpenSea, the remaining non-embossed supply was burned by WELLY NFT developers, adding value to the assets of those who participated.