Coins to Watch, Bitcoin Heaters, and Trippy Apes
Congratulations to everyone who has invested in cryptocurrency. We broke through the resistance and are seeing all-time highs. Let’s hope this bull run continues.
Of course, it’s not too late for anyone to start investing in Crypto – and it’s also possible for more break-out coins.
If you are interested in some crypto to invest in and sit on – there are two that are appealing to some investors you might want to look into further.
The first is Cardano, which has a native platform built to rival Ethereum. Cardano is also built on a proof of stake platform as opposed to proof of work.
The difference between these two is pretty important. A proof of work platform requires you to use hardware to validate the blockchain transactions – which is referred to as mining. By performing so many validations you are rewarded by earning native coins based on how much of the work your hardware did to earn a coin.
With proof of stake, however, you put up your coins in order to use those to validate the chain. Then you get to keep a percentage of the new coin earned based on how much you put in. When you stake, your coins are generally locked into a time frame. It’s sort of similar to a bond – only much shorter terms and much higher returns – especially today.
The other benefit of proof of stake is that you aren’t using nearly the amount of electricity to validate the blockchain – which is something that’s highly criticized in the crypto industry.
I would like to note here, Ethereum 2.0 is going to cause that blockchain to transfer from proof of work to proof of stake like Cardano currently is.
The other altcoin you may want to look at is called Aave. Aave is what a lot of people consider a meme coin. It’s actually technically a token because it is built on another network – the Ethereum network to be exact.
Aave is being used to have a real-world function, unlike a lot of meme coins we see out there. decentralize consumer finance by allowing people to borrow and lend more than 20 different cryptocurrencies.
It does so by allowing users to deposit their money into pools, where they can earn interest. Similar to what we see in the banking industry – only you actually get a good piece of what your money is making.
Aave has seen gains of over 500% in the last 12 months, with a market cap of $4bill.
Going back to the highly criticized energy use of mining – one mining farm in Canada has found a way to use its operation to provide heat to its city – North Vancouver.
This would be the first time a city is able to recover the energy used in mining.
The utility company Lonsdale Energy Corporation has teamed up with the mining farm Mint Green to use what is called digital boilers to heat homes.
The digital boilers they have made allows for them to recover 96% of the energy used in mining as heat for the utility company – which significantly cuts down the amount of greenhouse gas emissions used by the mining farm.
There are more and more bitcoin farms popping up here in the US due to the China crackdown, and some of them are going public.
We previously mentioned one called Bitfarm, but another has recently started trading on the NASDAQ – Stronghold Digital Mining.
Their ticker symbol SDIG went live today, raising $127 million dollars at the opening.
It started trading at $16 per share – but has recently jumped up to $30 per share at the time of this recording.
No doubt that today’s price jump was a big help.
Stronghold is a Pennsylvania-based mining farm, and just before they went public they have acquired a second power station for their farm.
Pennsylvania’s about to get pretty cold – I hope they jump on the digital boiler thing too.
Ok, it’s time to shift our focus over to the world of NFTs.
Well, since yesterday’s discussion about a 1.9m dollar offer for a crypto punk – a new highest NFT seller has happened.
A bored ap NFT with a crown, and trippy fur, some for a record 2.7m dollars.
In the past three weeks, there have been two other bored apes that have sold for over $1mil.
Another Bored Ape also has trippy fur, and one for a robot ape with cyborg’s eyes.
In France, a daily newspaper just sold as an NFT. It was a six-page story called “The crazy years of 2020” and sold for 3,000 euros.
They were inspired by the New York times selling a photo NFT for $480,000.
Media companies have been struggling lately, as there are more and more free outlets and print media has been a dying trend.
This has left a lot of people wondering if NFTs could be the solution to keep media outlets going – because even though the news can be free to the reader it still costs money to have people research, write, and distribute it.
Well, there is a new play to earn RPG called Along With the Gods: Knights of the Dawn that is set to release next week.
This game is brought to you by the company Playdapp.
Along with the Gods is set to attract thousands of players to compete to win hero and rune NFTs that they can then sell to other players for PLA tokens or other cryptocurrencies.
PlayDapp is considered as one of the fastest-growing blockchain gaming platforms and they have teamed up with top tech companies, such as Samsung, Polygon, Chainlink, Portis, Klatyn, and LINE.
You can download Along with the Gods on the Google Play store today, although play to earn doesn’t begin until next week.
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Article Resources:
2 Top Cryptocurrencies to Buy for the Long Haul
In a world’s first, Bitcoin mining farms will provide heat to this chilling Canadian city.
US Bitcoin mining firm Stronghold raises $127 million in IPO
Crowned Bored Ape with trippy fur sells for record $2.7 million
This French daily newspaper sold as an NFT. Is this the media’s future?
Play-to-Earn on Playdapp’s Flagship RPG “Along With the Gods: Knights of the Dawn” in 7 Days
