As crypto enthusiasts call for clarification on asset regulation, former CFTX commissioner Dan Berkovitz has said that Ethereum (ETH) can be both a value and a commodity. In other news, Solana (SOL) has lost its position as the second largest NFT blockchain, while emerging Sparklo (SPRK) continues to steal the hearts of investors as it offers a use case never seen in crypto.
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Sparklo (SPRK) entices investors with a unique use case
The cryptocurrency industry was built on innovation, with many of the investors prioritizing unique projects. This is why many investors are talking about Sparklo, a new project built on Ethereum with the goal of revolutionizing the multi-billion-dollar precious metals (gold, silver and platinum) industry.
Sparklo is an alternative investment platform that allows investors to buy fractional non-fungible tokens (NFTs) that are backed by gold, silver and platinum. By using fractionalization, Sparklo will allow investors who cannot afford and access gold, silver and platinum bars to be able to purchase them. Sparklo will also provide liquidity to ensure that investors always have a market to buy and sell these unique NFTs.
As the first of its kind in crypto, Sparklo received huge support from investors in the first pre-sale which was quickly completed. In the second phase, you can buy a Sparklo (SPRK) token for as low as $0.026 and receive up to a 50% bonus on purchases from now until May 27. The Sparklo team will be conducting an AMA with the community on June 5th to provide more information.
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Ethereum (ETH) can be a commodity and security
Ethereum (ETH) transition to Proof-of-Stake (PoS) started a legal status debate about what it should be classified as. Appearing on Laura Shin’s Unchained podcast on May 23, Dan Berkovitz, a former commissioner of the United States Commodities Futures Trading Commission (CFTC), has said that Ethereum (ETH) can be regulated as both a commodity and a security.
According to Berkovitz, Ethereum (ETH) can legally be both. Amidst the regulatory tussle, the price of Ethereum (ETH) has been stuck below $1,900 for the past three weeks. In the last 24 hours, the price of Ethereum (ETH) has fallen by 2.1% and is now trading at $1,815.
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Solana (SOL) loses NFT position to Bitcoin
As the pioneer platform for smart contracts, Ethereum (ETH) has remained the largest blockchain for NTFs, but was followed by Solana (SOL). However, with the recent launch of the BRC-20 token standard on Bitcoin, Solana (SOL) has now lost its position as the second largest NFT blockchain to Bitcoin.
According to data from CryptoSlam, over the past 30 days, over $173 million worth of NFTs have been traded on Bitcoin (BTC) compared to $53.7 million on the Solana (SOL) blockchain. Solana (SOL) is now the third most popular NFT blockchain. However, investors are leaving the regular NFTs on Solana (SOL) for the more unique precious metal-backed NFTs on Sparklo.
Find out about the Sparklo (SPRK) pre-sale using the links below:
Website:
Advance sales:
Telegram:
