NFT visionaries are doubling down on community ethos amid a bearish cycle

May 15, 2022 Coin Telegraph

Time Magazine, Rarible and Aleksandra Artamonovskaja share insights into the values and visions that leading NFT projects and figureheads seek to uphold as the market enters a financial downturn.

The fever-pitch euphoria of nonfungible tokens (NFT) reached its proverbial all-time highs in the hours preceding the calamitous gas wars of the Otherside metaverse land sale.

But by most reputable accounts, following almost a year of frantic exponential growth, rife speculation and cultural spotlighting, the market was long overdue a respite. A hiatus from minting drama. It has now subsided and officially entered its inaugural bearish cycle.

Statistical data from OpenSea paints a sorrowful assessment of the market's financial fortunes, with the floor prices of some highly popular collections more than halving since peak highs.

The eminent Bored Ape Yacht Club is down from its peak floor price of 156 Ether (ETH) from the beginning of May to 98.8 ETH at the time of writing. Similarly, CryptoPunks dropped from 125 ETH on Oct 2 to its current value of 50 ETH.

Other profile picture projects (PFP) such as RTFKT Studios’ CloneX, Azuki, Doodles, and even metaverse lands The Sandbox and Decentraland have all suffered similar fates.

The highly revered Cool Cats and World of Women — which just six months ago were categorized as blue-chips for their innovative approach to intellectual property and community spirit — have experienced the most drastic reductions in the value of the top collections.

However, the NFT market is by no means alone in this trend. Macroeconomic factors of inflation, stock declines, and a lack of consumer affordability have been compounded within the crypto industry this week by the devastating collateral damage of the Terra (LUNA) stablecoin crisis.

And yet, despite the mellow social atmosphere and cultural admission of the falsehoods of WAGMI, the underlying sentiment among experienced artists, founders and advocates of the space is that the bear market will provide an opportune moment for reflection and rebuilding.

Alongside this, founders and core holders are welcoming the moment to broaden the conversation from greed-obsessive floor prices to more conscious subjects such as utility, societal impact, and IRL interactions.

Much like in the 2017-18 crypto winter, humbleness, resilience, and determination are the core pillars needed to cultivate a revival.

For a comprehensive overview of the ways in which NFT projects can preserve, and continue to fulfill their founding philosophy, community values and roadmap visions, Cointelegraph’s tech reporter Tom Farren conversed with a number of expert thought leaders within the space.

Aleksandra Artamonovskaja, a passionate NFT spokesperson and newly appointed partnerships lead at Joyn, spoke candidly about the importance of recognizing the opportunities presented within bearish cycles, sharing her belief that it’s the “perfect time to align your vision", before stating:

“When the market is hot, it’s hard to focus because there is so much noise [...] This [downturn] has acted like a cleaning mechanism for all the speculation that’s taking place. It will now be more clear, especially for investors, which projects are continually building and sticking to their values. It’s a good test to show that they are going to persevere no matter the circumstances.”

Despite everything, we keep moving forward

Thanks for having me @OFFFest pic.twitter.com/SDNoDvzJ49
— Aleksandra Art (@aljaparis) May 11, 2022

On the topic of 1/1 artists, Artamonovskaja reflected that "two years ago, artists that were selling 1/1’s didn’t have that much support," but that now "it’s a completely different case because of NFT galleries, marketplaces, artists residencies, exhibitions, competitions, and more."

"It’s not perfect," she says, "but it’s an opportunity for artists to look at how they can engage, not just with the buyer, but within the ecosystem itself," before concluding that "connection is a really good direction to explore.”

TIME Magazine, recognized as one the most progressive organizations championing the leap into the decentralized sphere, announced a flurry of crypto adoption initiatives throughout 2021, including adding Bitcoin (BTC) to their balance sheet, and accepting crypto payments for their 18-month digital subscription option in partnership with Crypto.com.

In March this year, the historic 99-year-old magazine published a revelatory interview with Ethereum co-founder Vitalik Buterin alongside a commemorative genesis NFT magazine issue

TimePieces, a Web3 creative subsidiary of TIME, has equally embraced the culture and ethos of the space, launching a number of artistically diverse and culturally relevant NFT collections such as Slices of TIME and Build a Better Future, among others.

President of TIME Magazine, Keith Grossman shared his anticipations for the future prospect of NFT projects based upon their intentions - monetary or value-orientated, assessing that many "greed-based communities [won't] survive over the next year as the focus of these are primarily quick, monetary return - not a greater cause or belief system."

“Values-based communities” have the highest capacity to thrive according to Grossman because “their members are focused on building something together that is bigger than any one individual or immediate economic return and share a common belief that values creates value over time.”

Later in the conversation, he openly revealed the areas of growth that TimePieces will attentively seek to develop throughout the bearish cycle in order to best serve their community and the wider ecosystem, stating:

“TIMEPieces will focus its energy on continuing to invest in building its Web3 presence and continuing to lean into our brand to provide strong programming and access for its community members [...] Our view will not change due to market conditions: we are evolving our brand within this space for the next 100 years - not 100 minutes, weeks or months. Years!”

this is how dedicated @KeithGrossman isflew over across the ocean to honour @timepieces & his curated‍ @ 1 & only #NFTLiverpool world’s largest & LONGEST NFT exhibition! he spent genuine effort & ⏰ getting to know each of us
huge honour✨ always gr8ful4 this⏰ pic.twitter.com/J09L8RmUcp
— ARTJEDIᵍᵐSuperRare+Visual Arts Ambassador KO (@ARTJEDI1) May 14, 2022

TimePieces is actively recruiting for five roles, including a head of collector relations and a manager with metaverse experience - all of which come with a strong affinity for applicants within the TIMEPieces community.

Acknowledging the current market dynamics, coupled with the relatively high risk of NFTs within an investment portfolio, co-founder and Chief Strategy Officer of Rarible, Alex Salnikov, declared his opinion that “NFT collections which are bought for user enjoyment or artistic appeal, and which offer valuable utility, will hold relatively steady.”

Rarible is the the fourteenth leading marketplace by volume traded over a 30-day period with $2.81 million according to data from DappRadar. Speaking on the question of aiding their community through what can be an uncertain time for many, Salnikov said:

“We pride ourselves on being a community-centric marketplace, and this principle has never been more important to uphold than during a bear market. Our team is placing a particular emphasis on supporting community-focused NFT collections.”

Citing their work with Solana-based Degenerate Ape Academy, and Meta Angels to develop and launch bespoke marketplaces for their ecosystems, Salnikov noted that this supports their overarching ambitions to “dedicate a greater proportion of fees earned on the marketplaces to the project’s treasury or DAO, and have overall greater flexibility as opposed to larger, more centralized platforms.”

UK Court recognizes NFTs as ‘private property’ — What now?

May 15, 2022 Coin Telegraph

Coin Telegraph

Not all the experts are rushing to call the development “groundbreaking,” but it will certainly help the industry combat fraud.

At the beginning of May, the British Web3 community celebrated an important legal precedent — the High Court of Justice in London, the closest analog to the United States Supreme Court, has ruled that nonfungible tokens (NFT) represent “private property.” There is a caveat, though: In the court’s ruling, this private property status does not extend to the actual underlying content that NFT represents. Cointelegraph reached out to legal experts to understand what this decision could possibly change in the British legal landscape.

The theft of Boss Beauties

In February 2022, Lavinia D. Osbourne, founder of Women in Blockchain Talks, wrote on Twitter that two digital works had been stolen from the Boss Beauties — a 10,000-NFT collection of empowered women that was created by “Gen Z change-makers” and featured at the New York Stock Exchange.

The tokens came with a number of utility points, such as access to exclusive events, free books, and licensing fees. Osbourne claimed that the pieces, stolen from her MetaMask wallet, later emerged on the OpenSea market. She traced down the NFTs with the help of the security and intelligence firm Mitmark.

The matter was brought to court in March, and on April 29, The Art Newspaper reported on the ruling of the United Kingdom’s High Court, in which the judges have recognized NFTs as property protected by law. In addition, the court issued an injunction to freeze the assets on the accounts of Ozone Networks (the host of OpenSea) and compelled OpenSea to disclose information about the two account holders in possession of the stolen NFTs. Shortly afterward, OpenSea halted the sale of these NFTs — Boss Beauties number 680 and 691.

As the identities of the wallet holders remain uncertain, the injunction was granted against “persons unknown.” In its comment on the decision, Stevenson Law firm called a freezing injunction “quite a draconian (i.e. old fashioned and harsh) remedy,” describing it as a “nuclear weapon” of law.

Following the court order, Osbourne victoriously proclaimed:

“Women in Blockchain Talks was founded to open up the opportunities blockchain offers to anyone, regardless of age, gender, nationality or background. This case will hopefully be instrumental in making the blockchain space a safer one, encouraging more people to interact with exciting and meaningful assets like NFTs.”

The token and the asset

Racheal Muldoon, the counsel on the case, highlighted “the utmost significance” of the ruling, which, she said, “removes any uncertainty that NFTs are property in and of themselves, distinct from the thing they represent, under the law of England and Wales.” But it is exactly the aforementioned detail that made other experts skeptical of the groundbreaking importance of the court’s decision.

While the NFTs are already enjoying the status of property in their treatment by the U.S. Internal Revenue Service, the proclaimed difference between the token and the underlying asset does little to fill the current legislative vacuum in the U.K. and United States. “So if you have a token, you have a token. But not necessarily any rights in anything else,” as Juliet Moringiello, professor at Widener University Commonwealth Law Schoo, noted to Artnet News.

As assistant director of the Institute of Art and Law Emily Gould reminded in her opinion piece on the case, U.K. courts’ decisions, regulatory developments and governmental studies over the past few years have been increasingly consonant in categorizing crypto assets as property. She specifically pointed to 2019’s AA v. Persons Unknown and the “Legal statement on cryptoassets and smart contracts” report, presented by the UK Jurisdiction Taskforce of the LawTech Delivery Panel in the same year.

What’s next

“The underlying property or asset that the NFT represents, be that artwork or any other copyrightable material, are still governed in the U.K. by the same copyright laws as in the United States,” Tom Graham, U.K.-based CEO and co-founder of Web3 company Metaphysic.ai, explained to Cointelegraph. “This decision doesn’t help clarify that distinction.”

But for Graham, the ruling still set an “interesting precedent,” as the court had issued an injunctive order to OpenSea. This is significant in terms of courts stepping in and providing injunctive relief where NFTs have been stolen. He added:

“It is now unambiguous that NFTs are governed by the same property laws in the U.K. that govern all other property. It sets a great precedent for people investing in NFTs that the court system, at least in the U.K., will protect their property rights.”

Speaking to Cointelegraph, Anna Trinh, chief compliance officer of digital finance firm Aquanow, noted that the ruling is not revolutionary, but not without “executive importance.” Establishing legal precedent that affirms what most already believed to be the case may give NFT platforms more comfort in demanding to freeze malevolent actors’ accounts. Trinh said:

“I don’t think NFTs being recognized as private or personal property is much of a surprise. You can buy, sell or trade NFTs, which essentially points to them being personal property on first principles. It would have been more shocking had the court held that NFTs were not personal property.”

Trinh doesn’t see the existing legal protections for the underlying assets as problematic. These are governed by the contract’s content at the time of purchase, so contractual law and intellectual property law would come into play depending on the nature of the asset. In Trinh’s opinion, there are more urgent legal issues that regulators could pay attention to, such as creators’ rights.

Seaside Resort in Slovenia Promotes Itself With NFTs

May 15, 2022 Bitcoin.com

NFT scams: How to avoid becoming a victim

May 15, 2022 Coin Telegraph

Coin Telegraph

What are the most common NFT scams and how can you avoid them? Are the non-fungible tokens still worth the shot?

Are NFTs worth it?

NFTs are suitable as an investment. If you count your steps and take your safety measures, it’s a whole new world to explore.

We’re in the middle of the roller coaster called NFTs but for a lot of people, there’s still a discussion about NFT investments vs. NFT scams. With a total market value of $40 billion, there’s no need to explain the success of the nonfungible tokens. Many will tell you NFTs are nothing more than overpriced PNG files that are a complete scam but the opposite is also true.

Yes, some NFTs are scams and some platforms are not as honest as you would hope. But this does not mean that all NFTs are scams. When you go buy a car, you will meet some sketchy salespersons — that’s a risk that comes with life. When you’re ready to invest in an NFT, it’s important to realize that the worth isn’t in the image itself. There’s value in the underlying asset that gives NFTs their practical worth.

How can you avoid NFT scams?

To avoid NFT scams, it would be wise to keep an eye on the news coverage. Also, optimize your digital security and do not fall for shady contact requests and weird pop-ups.

Users are getting more familiar with the risks of trading and keeping their NFTs safe. But when you already hold an NFT or are planning on buying one or more, it’s important to know how to avoid an NFT scam. As an user, you can arrange several precautionary measures to protect your assets from getting stolen.

First of all, it’s important to know what you’re doing. To avoid pump-and-dumps, it’s wise to review the transaction history of the NFT you want to buy. Also, look up the contact details of the creator and do your research on them. If all of the transactions were carried out around one specific date, then a light should go on.

While we’re talking about phishing scams — always keep in mind that your personal information belongs to you! Never give away your wallet’s keys and do not react to suspicious offers or contact requests. Needless to say, always secure your accounts with 2FA; it’s the least you can do.

In the case of stolen artwork, there are times when you can’t do something. Of course, you can verify the accounts of the creator, the social media messages and the community. Like in any other case, do your research. Some NFT marketplaces are developing new tools which they use to scan public blockchains for counterfeit NFTs. Lastly, NFT scammers don’t have the blue checkmark beside their usernames.

Are NFTs a scam?

NFTs are not a scam. On the contrary, they are a big booming business.

NFTs could be collectors’ items like baseball cards back in the day, but they don’t have to be. An NFT could also be a digital form of entertainment, the valuable art a moment in time even. There are a lot of people who think it's a bubble that’s going to burst and maybe it will happen, eventually. But now is not the time to speculate about that, because they are still booming.

Because security and compliance are complicated topics, NFTs are somewhat vulnerable. On top of that, crypto, blockchain and NFTs are like the new kids on the block, which the rest of the neighborhood still doesn’t know much about. And everything unknown involves extra risks. At the beginning of this year, users of the largest NFT marketplace (OpenSea) were ambushed by a phishing attack. At least 32 users got their NFTs stolen, with a total worth of 1.7 million dollars.

NFTs aren't a scam but they are sometimes easy to steal and as long as the NFT market keeps growing, the number of attacks will grow with it. Hackers will also get more and more creative and increase their technological know-how. There’s more NFT news about scams because a year ago, hackers robbed users from Nifty Gateway. They took home a lot of NFTs and even used credit cards from users who didn’t enable two-factor authentication (2FA) to buy more NFTs up to $10,000 per account.

Most common NFT scams

When you’re an active NFT trader, you can’t avoid all the scams in the world of nonfungible tokens. The most common NFT scams are phishing, counterfeit NFTs and pump-and-dumps.

The year 2021 was a breakthrough for nonfungible tokens (NFTs). But when something gets popular like decentralized finance (DeFi) and the newest version of the Web called Web3, there are also risks involved.

Follow the money is advice you don’t have to give hackers twice. Last year, hackers took home $14 billion from crypto-related hacks and still, cryptocurrency crime numbers have risen 79% — and the risk is not over yet. But how do NFT traders protect themselves from getting scammed? First of all, educate yourself. By understanding the most common NFT scams, you can get your tokens to safety.

The most important thing to note is that NFT pump-and-dumps are bad news. NFT scammers will use hollow-hearted information to jack up the floor price (representation of the lowest price for an item, updated in real-time) of an NFT of your interest. When they are successful in their tactics, they sell their items and leave others empty-handed. Also, a common trick is the technical support scam. When you’re a user of Telegram or Discord, you probably see the crypto scams happen right under your nose.

This phishing scam is not obvious at all. Scammers use fake pop-ups to link to normal-looking pages, such as your wallet. Or first-time buyers are struggling to get the deal done and they accept an offer to get help for investing in NFTs. The digitally disguised scammer asks for your personal information, which he uses to steal all your assets.

The third common NFT scam is no stranger in the world of intellectual property. Artists work hard on their original designs. It takes a lot of hours to establish an NFT collection so when they get copied by someone else, it’s like biting into a sour apple. The scammers take the artist's work and turn it into an NFT. Buyers will believe they’re investing in an original artwork and place high-valued bids.

Crypto Market Rout Pulls the Floor out From Blue-Chip NFTs, Weekly Sales Down 64%

May 14, 2022 Bitcoin.com

Crypto needs regulation but should be done right: Report and database

May 12, 2022 Coin Telegraph

Coin Telegraph

The absence of a well-defined regulatory landscape sows uncertainty in the crypto industry. What should the regulators do to set things right?

Regulatory attitudes toward crypto are constantly evolving, often at a slower pace than the crypto industry itself. Institutions and the broader public will not seriously consider working with cryptocurrencies without clear and comprehensive regulation. Furthermore, the industry suffers from widespread scams, phishing and hacks that very often have no legal repercussions. This bolsters the audacity of wrongdoers and augments the image of crypto as an arena for shady characters.

Download the full report here, complete with charts and infographics

In a new report, Cointelegraph Research provides an assessment of regulations around stablecoins, nonfungible tokens (NFT) and a general overview of developments since the close of 2021. A new database of regulations, updated on a weekly basis, covers all updates in the industry.

NFTs and stablecoins catch policymakers sleeping

The NFT boom of 2021 jolted governments and international organizations into action. With over $9 billion in NFT sales on Ethereum, the emergence of a well-defined regulatory landscape for NFTs is crucial for the market’s sustainable development in the future. The NFT market accounted for $1.5 million in illicit activities in the last quarter of 2021 alone. Although this is minuscule compared to the scale of money laundering happening elsewhere, it marks a detrimental trend that may continue into 2022.

In both the United States and the United Kingdom, authorities have failed to introduce clear guidelines on NFTs, with some uncertainty on how to classify the asset class, although NFT issuers and marketplaces may be required to comply with Anti-Money Laundering and Know Your Customer practices.

Cointelegraph Research records all the regulatory events worldwide on a weekly basis in its Regulations Database.

Access the Cointelegraph Research Regulation Database here

Stablecoins, similarly to NFTs, caught policymakers off guard. Stablecoin supply increased fivefold from $26 billion at the start of 2021 to $164 billion at the end of 2021. The growth continues into 2022, with the aggregate supply expanding by 6.8% in the first six weeks of the year.

The Financial Stability Board, an international body that coordinates the efforts of financial regulators on a global scale, has called for action on stablecoins in its 2020 and 2021 reports and has set July 2022 as a preliminary deadline for establishing regulatory frameworks in national jurisdictions. Stablecoin regulation is further complicated by the emergence of decentralized U.S. dollar-pegged stablecoins that are uncollateralized such as TerraUSD (UST), with no “one size fits all” solution for regulators.

Governments are playing catch-up

The report also dives deep into developments throughout H1 2022. Another sector covered is central bank digital currencies. With progress on CBDCs in no less than 91 countries around the world, governments are awakening to the potential of digital currencies. The future marches on, and lawmakers have significant work to do to bring regulations to the floor that foster innovation but allow the mainstream adoption of digital assets.

CBDCs could result in enhanced tax compliance and better tracking of financial transactions but could severely hinder cryptocurrency adoption and even replace some decentralized digital currencies outright because they profit from the stability and trust government bodies inspire in many consumers.

Anyone interested in crypto, blockchain, and the industry's future is welcome to read this report and access the regulation database that tracks the latest developments. Crypto needs regulation, but it has to be the right kind. With forward-looking regulation that makes sure progress can happen, and governments foster innovation, cryptocurrencies can truly fulfil their promise of a more equitable future and a renewal of the financial system.

This article is for information purposes only and represents neither investment advice nor an investment analysis or an invitation to buy or sell financial instruments. Specifically, the document does not serve as a substitute for individual investment or other advice.

Leaked report: South Korea to establish crypto framework by 2024

May 12, 2022 Coin Telegraph

bill

The effort will include issuing guidance for NFTs and ICOs, expanding infrastructure and supporting CBDC research.

The administration of the newly-elected President of South Korea, Yoon Suk-yeol, wastes no time in its drive to maintain the country’s stature as a center for innovation as it hopes to roll out comprehensive crypto legislation in 2023 and institutionalize the sector by 2024.

On May 11, South Korean newspaper Kukmin, citing a leaked governmental document, reported that the administration is looking to introduce the “Digital Asset Basic Act” (DABA) in the next year and to follow it up with more legislation by 2024. The bill is part of the 110 policy aims the new President introduced earlier this year.

The bill will be drafted in accordance with international norms and will rely on the experience of the world's largest economies as the local Financial Stability Board (FSB) will cooperate with the Basel-based Bank for International Settlements (BIS) and the U.S. and E.U. regulators.

While there aren’t many details, what is known looks quite optimistic for the industry. The government plans to expand the existing infrastructure for crypto-fiat transactions, allowing more banks to create their own platforms for fiat-crypto exchange. Currently, there are only 4 banks in the country that have this capacity. Also, the South Korean authorities expect to institutionalize nonfungible tokens (NFTs) and introduce a regulator framework for ICOs.

The issuance of a central bank digital currency (CBDC) is also on the table. The Bank of Korea completed the first phase of its mock testing in January 2022.

The Yoon administration already confirmed the validity of the leaked document, noting, though, that this draft is not the final one.

On May 3, Yoon Suk-yeol announced he would push to defer taxation on crypto investment gains until the Digital Asset Basic Act is enacted, which means at least until 2024. Under the new crypto taxation rules, the government will levy a 20% tax on crypto gains above $2,100 per year.

Cryptocurrency Exchange Kucoin Raises $150 Million in Pre-Series B Funding Round, Reaches $10 Billion Valuation

May 11, 2022 Bitcoin.com

Crypto Downturn Shakes Digital Collectible Markets as NFT Sales Slip 42% Lower Than Last Week

May 10, 2022 Bitcoin.com

Polygon reaches level that last time triggered a 275% MATIC price rally — will history repeat?

May 10, 2022 Coin Telegraph

Altcoin

MATIC has rebounded sharply after testing the July 2021 support level, borrowing further upside cues from Polygon's partnership with Meta.

Polygon (MATIC) price reversed course to the upside on May 10 after testing $0.794 as its interim support, thus rising by up to 25% to $0.99.

The rebound occurred a day after the token slumped over 17% to reach $0.787, its lowest level since July 2021, amid a global market crash led by the U.S. Federal Reserve's hawkish policies.

MATIC price rebounded after undergoing five days of relentless declines, attracting buyers around the same support level that had preceded a 275% bull run last year.

*MATIC/USD weekly price chart. Source: TradingView*

A previous retest of the $0.787-level in July 2021 and the 0.786 Fib line (near $0.61) of the Fibonacci retracement graph — drawn from the $0.002-swing low to 2.86-swing high — followed up with MATIC rising to its record high of $3 by December 2021.

Therefore, MATIC/USD might undergo a similar, sharp upside retracement in the coming weeks after rebounding from the same support confluence.

MATIC fundamentals: then and now

However, a lot has changed in terms of market fundamentals between July 2021 and May 2022 that may influence MATIC traders' behavior.

For instance, MATIC's price boom occurred last year as demand for layer-2 solutions increased due to Ethereum's skyrocketing gas and transaction costs.

As a result, popular decentralized finance (DeFI) applications, including decentralized exchange SushiSwap (SUSHI), liquidity service Curve (CRV), and lending platform Aave (AAVE), expanded their operations in the Polygon chain.

*The total value locked inside Polygon liquidity pools. Source: Defi Llama*

But 2022 has been a bad year for cryptos. The Fed's decision to hike interest rates followed by the unwinding of their $9 trillion balance sheet has prompted investors to reduce their exposures to riskier assets. Unfortunately, the prospect of excess cash leaving the market has hurt MATIC, whose year-to-date paper returns were nearly 65% below zero as of May 10.

Unfortunately, the prospect of excess cash leaving the market has hurt MATIC, whose year-to-date paper returns were nearly 65% below zero as of May 10.

"This is a risk-off across all asset classes, including crypto,” Daniel Ives, strategist at Wedbush Securities, told the Financial Times, adding that digital asset investors have “nowhere to hide.” He added:

"Some investors are playing crypto like a hedge against inflation, but it’s trading like the Nasdaq’s Siamese twin."

Silver lining amid chaos: Meta

On May 9, Polygon CEO Ryan Watt announced that they are partnering with Meta to create a nonfungible token (NFT) platform for Facebook and Instagram.

Meta CEO Mark Zuckerberg also confirmed that they have been "testing digital collectibles for creators and collectors to showcase NFTs on Instagram," adding that similar features would come to Facebook soon. The hype could help MATIC form a strong price floor.

Massive.
— Michaël van de Poppe (@CryptoMichNL) May 9, 2022

But from a technical perspective, MATIC risks bearish continuation toward $0.615 in May.

Meanwhile, a bullish confirmation looks less likely to appear unless the token reclaims its 50-week exponential moving average (50-week EMA; the red wave) near $1.37 as support.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

NFT

The theft of Boss Beauties

The token and the asset

What’s next

Are NFTs worth it?

How can you avoid NFT scams?

Are NFTs a scam?

Most common NFT scams

NFTs and stablecoins catch policymakers sleeping

Governments are playing catch-up

MATIC fundamentals: then and now

Silver lining amid chaos: Meta

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