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The NFT Bubble Has Burst, but BTC and Co. Are Still the Best Buy

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The crypto world is crashing, or so some say, and not without some schadenfreude as they point towards two recent dramatic dips in the charts — namely, for NFTs and Bitcoin. This has prompted the crypto-critical to decry not only on NFTs as a ‘scam’ but to point fingers at the crypto market as a whole. But it’s not an attitude subscribed to by those in the know. Crypto exchange StormGain, a popular mobile and web platform for buying, selling and holding cryptocurrency, has counselled the crypto-curious to keep it classic and focus on a silver lining for crypto coins.

At the time of writing in the second week of June, weekly NFT sales total up to a sobering $9.5 million. The beginning of May saw the NFT market reach a peak, with $102 million worth of Non-Fungible Tokens sold on 3 May. It seemed like everyone was rushing to turn any piece of internet ephemera — from memes to clips to posts — into NFT ‘art’ and make bank. Fast forward to the last week of May, and we’re looking at a different story. According to Nonfungible.com, only $19.4 million in NFT sales was processed, a 90% drop compared to the $170 million in NFTs transacted the week of the peak. The downward trend is continuing in June, although not quite as dramatically.

The NFT crash is an event that coincided with a big drop in Bitcoin’s value. The original cryptocurrency has been trapped in a bear market since mid-May and currently stands at $36,000. For better or worse, BTC usually stands in as the barometer for public confidence in crypto as a whole. Despite BTC taking a hit, altcoins — which is basically every other cryptocurrency, from the well-known such as Ethereum and Ripple to new market darlings such as Dogecoin, Cardano and Pancakeswap — have been thriving in crypto exchanges in recent weeks. Bitcoin’s price remains high even during the dip (remember BTC for $6,000 in March 2020?), and the coin is lightyears ahead of where it was during the 2010s. By contrast, while NFTs themselves aren’t completely brand-new, the bubble that grew during their time in the public consciousness only lasted around four months, which is hardly comparable. In short, while would-be crypto art collectors might be clenching their teeth right now, cryptocurrency traders have nothing to fear. In fact, it’s a time of opportunity.

“What we’re seeing is not so much a crisis of confidence but more a correction that will turn out to be healthy in the crypto space,” said StormGain CEO Alex Althausen. “Cryptocurrency is growing, evolving and becoming more profitable than ever, and this can lead to these inflated hype cycles, opportunism, sure. But in the long term, holding and trading digital assets remains a fantastic way to build wealth. The key is seeing crypto as a wider ecosystem: you invest broadly, you have a resilient portfolio, and you don’t get dragged along by rises and dips. You make them work for you. That’s why we’ve been focused on expanding two big things: a range of assets so that clients can really diversify and the in-depth knowledge base that helps people understand crypto market behaviour”.

The CEO went on to describe a key distinction between actual cryptocurrencies and NFTs. The digital instruments on StormGain all have actual real-world technological applications and are not subject to the fickle tastemakers of the art and collectibles market. As blockchain adoption increasingly becomes the norm in the finance world, cryptocurrency isn’t going away. While NFTs resemble trading cards, Bitcoin and other cryptocurrencies are more like oil, stocks or gold; they play a much more important role in the economy.

Just like with stocks and gold, market trading is a game of short-term tactics and long-term strategies. That also holds true for digital gold: to play the long game, it helps to know the nature of the market as thoroughly as possible. To that end, we invite you to research thoroughly and remember to build a diverse portfolio for trading! StormGain’s educational resources are packed with information for beginners and experts alike and are a great place to start. For anyone who is curious to try the trading app in action, the platform also offers a wide range of assets, including crypto indices for risk management. You can try StormGain’s free demo account and practice trading in real market conditions to test its training materials for yourself.

The current cryptocurrency dip provides a great opportunity to buy and build wealth in the long term. As for NFT art, well, who can really put a price on beauty?

Source: https://bitcoinist.com/the-nft-bubble-has-burst-but-btc-and-co-are-still-the-best-buy/?utm_source=rss&utm_medium=rss&utm_campaign=the-nft-bubble-has-burst-but-btc-and-co-are-still-the-best-buy

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Seattle Surge, Los Angeles Guerrillas advance in Call of Duty League Stage 4 Major

Seattle and L.A. kept their hopes alive.

The post Seattle Surge, Los Angeles Guerrillas advance in Call of Duty League Stage 4 Major appeared first on Dot Esports.

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Facing elimination from the moment they stepped foot in Dallas, both the Seattle Surge and Los Angeles Guerrillas are moving on in the Call of Duty League Stage Four Major. 

Seattle looked extremely strong in their matchup with the London Royal Ravens in the first series of the event, winning with a 3-1 map count. Octane led the way for the Surge, posting a 1.71 overall K/D, including an unbelievable 2.06 K/D in the series’ two Hardpoints. Prestinni and Gunless recorded 1.03 and 1.04 K/Ds, respectively. 

Seattle is a team that could make a run, especially now with the tournament being held on LAN. They looked downright dominant at points in their series vs. London and seem to be gaining confidence as they attempt to kickstart a losers bracket run. Seattle is a team with a lot of championship experience and they showed that in their win over London. 

The big news of the first day of the Stage Four major was that the Los Angeles Thieves would be without Huke due to a missed COVID-19 test. Instead, the Thieves slotted in Drazah for Huke, marking yet another roster change in what has been a turbulent 2021 season for 100 Thieves’ CDL team. Despite the solid play from Drazah in Huke’s absence, it was the other team from Los Angeles that took the series 3-2. 

Chino led the way for the Guerrillas, posting a 1.16 overall K/D including a 1.54 K/D on Garrison Control. Chino was the steady hand for the Guerrillas, making the right plays at the right times. He was instrumental in L.A. closing out the Thieves in their 3-1 win on Garrison Control. No other member of the Guerrillas went positive as they were actually outslayed by 20 kills throughout the series. 

Seattle will kick off Friday’s action when they take on the Paris Legion at 2pm CT. The Guerillas match up with the Florida Mutineers following Seattle vs. Paris at 3:30pm CT.

Source: https://dotesports.com/call-of-duty/news/seattle-surge-los-angeles-guerrillas-advance-in-call-of-duty-league-stage-4-major

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Riot sends out customized spikes to content creators, celebrities to celebrate VALORANT’s anniversary

Us, normal human beings, aren’t getting one of those kits.

The post Riot sends out customized spikes to content creators, celebrities to celebrate VALORANT’s anniversary appeared first on Dot Esports.

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Riot Games has shipped out a customized VALORANT spike that comes with a set of three special knifes to some content creators and personalities, to celebrate the tactical FPS’ first anniversary.

People like the worldwide famous Russian DJ Anton Zaslavsk, known professionally as Zedd, and content creator QuarterJade shared the goodies on social media. It comes with a personalized Spike, the object used in plant/defuse game modes, a glitchpop dagger, a prime karambit, and a singularity knife.

“As usual VALORANT has outdone themselves,” QuarterJade wrote on Twitter. “Thank you so much for the gifts and happy YEAR 1 anniversary to my favorite game.”

The initiative was well-received in the VALORANT community, especially because all the items look absolutely beautiful. Of course, it caused some jealousy in some people, but what could Riot have done? If they send it out to every VALORANT fan, the items would certainly lose their uniqueness.

VALORANT officially celebrated its first anniversary earlier this month on June 2 and Riot, among other things, created the Year One event, which features a free pass that rewards VALORANT players with exclusive items. Each of the rewards is associated with the game’s first birthday such as the Year One Card, Year One Gun Buddy, Episode Three Reflection Card, YR1 and Year One titles, and 20 Radianite Points.

Even though you can’t get what those celebrities and content creators received, don’t miss out on the opportunity to win exclusive VALORANT items when the Year One event becomes available on June 22, the starting date of Episode Three, Act One.

Source: https://dotesports.com/valorant/news/riot-sends-out-customized-spikes-to-content-creators-celebrities-to-celebrate-valorants-anniversary

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Paraguay Official Plans to Legislate Bitcoin Next Month

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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

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Source: https://cryptobriefing.com/paraguay-official-plans-to-legislate-bitcoin-next-month/

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