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The non-fungible token market has begun to slowly crawl back on its feet after suffering a brutal market downturn in the past several months. The NFT market has shown signs of life springing up and soon may retest another market hype. The State Of NFTs Right Now The NFT market reached its market all-time high in December 2021. At the time, the market bull run left the majority of NFTs soaring high in their value. Unfortunately, in the past several months, most NFTs have suffered a brutal comedown following the recent crypto winter, which started in June 2022. Despite the general crypto facing several challenges, including regulatory uncertainty, the NFT market has defied these sentiments and started a short rally. Bitcoin Ordinals are leading the short market frenzy, posing a new threat to the bear market that has dominated for months. Recently, Bitcoin Ordinals have been exerting a lot of pressure in the crypto market, suggesting that the bear market may be over sooner than many p

Numerous companies are still suffering from the crypto bear market. Popular blockchain Analysis firm Nansen has announced a significant reduction in employees in order to stay afloat. On May 30, CEO Alex Svanevik disclosed an “extremely difficult decision” to scale back the company’s workforce. He announced that 30% of employees will be laid off. Nansen is the latest firm to join the long list of companies that have let go of employees due to harsh market conditions. Svanevik gave two primary reasons for the crypto firm reducing its staff. First of all, he claimed that the business expanded too quickly in its early years of operation. Second, he claimed that the cryptocurrency markets have had a “brutal” year since 2022. Svanevik said that the firm’s “cost base is too high relative to where the company is today.” According to Svanevik, Nansen has “several years of runway,” but only if it can become sustainable. He explained that achieving sustainability entails “reducing our su

Minswap, a decentralized exchange (DEX) on the Cardano network, has experienced a surge in the past few days. On-chain data shows that meme coin activity is potentially responsible for Minswap’s rally and the increased trading activity on the DEX. Analysis of data from CoinGecko, a crypto aggregation platform, shows Minswap accumulated a volume of $9,122,365.14 in the last 24 hours. Out of that volume, SNEK, a meme coin traded on the Minswap DEX, was responsible for $6,661,286, reflecting a 73.01% share of the total volume traded on the DEX in the past 24 hours. SNEK is one of 25 meme coins presently listed on the Minswap DEX. CoinGecko shows that with a current price of $0.001157, SNEK has gained 42.3% in the last 24 hours. Additionally, its profit from the past seven days amounted to 169%. BANK, another meme coin on Minswap DEX, also displayed notable price movements recently that contributed to the DEX’s rally. Over the last 24 hours, BANK surged 36% from its low pr

What is TomoChain (TOMO)? TomoChain is a public EVM (Ethereum Virtual Machine)-compatible blockchain with low transaction fees, fast confirmation time, double validation, and randomization for security guarantees.  TOMO’s white paper proposes Proof-of-Stake Voting (PoSV) consensus, a Proof-of-Stake (PoS)-based blockchain protocol with a fair voting mechanism, rigorous security guarantees, and fast finality.  Furthermore, the TOMOchain whitepaper states: “We also present a novel reward mechanism and show that, with this mechanism, the blockchain has a low probability of forks, and fast confirmation times, plus the contributions and benefits of master nodes are fair in the sense that the probability distribution function is uniform eventually” As such, the TomoChain network supports 2,000 TPS and 2s block time. Furthermore, it promises thousands of transactions for as little as less than $1. Moreover, the TomoChain blockchain is secured by a highly decentralized maste

Shiba Inu (SHIB) still shows strong bullish momentum, but how does it measure against Filecoin (FIL)?  According to analysts, Shiba Inu is a good option to consider, given that Filecoin has stagnated in the past few weeks. Another notable cryptocurrency worth investing in is Collateral Network (COLT). Currently in the first stage of the presale, it has surged by 40% and is expected to give massive 35x returns in the next few months. BUY COLT TOKENS NOW What is Driving the Growing Demand for Shiba Inu (SHIB) Tokens? If you’ve been following crypto trends lately, you may have noticed that Shiba Inu is currently on strong bullish momentum. Recent reports even suggest that in terms of market capitalization, Shiba Inu has already overtaken Binance USD (BUSD) and could even surpass Litecoin (LTC) in the near future. One of the reasons for the current Shiba Inu surge is its burn rate which has risen by 2000% , ensuring scarcity and increased demand for the SHIB token. Anothe

Join Our Telegram channel to stay up to date on breaking news coverage The non-fungible token market has shown promising signs of rebound after suffering a massive downturn in the past several months. The NFT market downtrend began sometime in June last year, leaving many NFT collections in huge losses. In recent weeks, the NFT market has been making another strong comeback. This time around, Bitcoin NFTs seams spearheading the short Bull Run. Optimism among investors regarding crypto and the increasing demand for Bitcoin NFTs has contributed to the overall rise in the NFT market. Bitcoin NFTs Pump 110% In Sales Past 24Hrs The non-fungible token market data Analysis shows that NFTs hosted on the flagship crypto “Bitcoin” have surged higher in recent weeks. In the past 24 hours, Bitcoin NFTs have pumped 110%, attracting a trading sales volume of $8.4 million. Bitcoin NFTs Sales: Source: CryptoSlam.io Bitcoin NFTs made their way into the non-fungible token market earlier th

Also Read: Ripple Counsel Withdraws From Case; US SEC To Gain Upper Hand? advertisement LBRY Seeks Clarity On Secondary Sales? As per the filings, LBRY submitted its Supplemental Brief in support of its motion to restrict the US SEC’s remedies. It mentioned that the firm is in pursuit of gaining clarity around the LBRY tokens (LBC) use in the market. This includes the clarity that LBC is not a security. Meanwhile, the commission has refused to provide such clarity and now looks at a broad based injunction which is not even clear. The LBRY asked the court to provide clarity for the market. SEC led enforcement has driven LBRY into insolvency. Coingape reported that the commission on record admitted that the sale of LBRY Credits (LBC) tokens in the secondary market is not a security. This settlement came on January 30, 2023. Read More Ripple Lawsuit News Here… Recommended Articles

The detention of a United States journalist in Russia has sparked a renewed push from Alexander Vinnik, the co-founder of BTC-e, for a possible “prisoner swap” deal. Alexander Vinnik, the Russian co-founder of an allegedly illicit crypto exchange, BTC-e, is seeking release by way of a deal known as a “ prison er swap.”  According to a May 24 report in The Wall Street Journal, Vinnik’s lawyer is attempting to alter a protective order on Vinnik’s case so that he could be considered as part of a prisoner trade deal between Russia and the United States. This could see him “swapped” for detained WSJ reporter Evan Gershkovich. “Mr. Vinnik should be permitted to … answer the accusations against him and advocate publicly for his inclusion in a prison er swap,” wrote David Rizk, an assistant federal defender in the Northern District of California. Citing sources familiar with the prison er-swap process, Rizk explained that such negotiations require a strong public campaign to “maximize the cha

Join Our Telegram channel to stay up to date on breaking news coverage Crypto markets experienced a slight shift in momentum after a stagnant period of two weeks. The trigger for this change came from concerns about UK inflation and a warning from Janet Yellen regarding the US debt ceiling stalemate, which spooked investors and sent prices plummeting on Wednesday. UK Inflation and US Debt Ceiling Stalemate Impact Crypto Markets, Bitcoin Hovers Below $26.5K The release of the latest minutes from the Federal Open Market Committee (FOMC), later in the day, revealed a lack of consensus among US central bankers regarding the continuation of interest rate hikes. Unfortunately, this revelation did little to instil confidence in the market. Bitcoin, the dominant cryptocurrency in terms of market capitalization, recently hovered around the $26,440 mark, signalling a decrease of roughly 3% within the previous 24-hour period. This value approached its lowest level since May 12, when it