With the start of 2023, the crypto industry has started seeing price improvements, and with it, a number of more additional activity in the sector. While some has been good, and some bad, there is no denying that there are numerous opportunities for investors seeking to find a good deal.
Blur’s new airdrop triggers a surge in NFT sales
One great example for those seeking new opportunities comes from Blur, a popular NFT marketplace that recently became the talk of the town after doing a token airdrop. The BLUR reward distribution sparked the interest in the platform once again, leading to a massive 159% surge in NFT sales.
The Blur platform saw this surge in activity over the course of the last seven days, between February 17th and February 23rd. Blur’s total weekly NFT sales jumped to $772 million, while previously sitting closer to $299 million. According to data collected on Tuesday, the average price of the sold assets also went up to $566, while previously sitting at $175 on February 14th.
Cryptoslam’s NFT relations strategist, Yehudah Petscher, said that Blur rewards are driving most of the action.
Currently the 125th largest token by market cap, BLUR saw its price go from $0.83 to $0.88 this Sunday. However, come Monday, February 27th, BLUR price dropped to $0.84, which is where it sits at the time of writing.
Tether’s market cap surges as Binance USD investors abandon the stablecoin
Recently, Tether saw a significant increase to its market cap, which went up by 3.85%. The USDT market cap rise came after the US regulators cracked down on Paxos, the issuer of Binance USD (BUSD) stablecoin. Following the SEC’s intervention, BUSD suffered an 18% decline in market cap, as users started selling the stablecoin or swapping it for other stablecoins in the industry.
Tether was one of the most popular choices, which is not surprising, given its position as the third-largest crypto by market cap, and the latest stablecoin in the industry. At the time of writing, USDT market cap sits at $70.8 billion, bested only by Ethereum and Bitcoin. While Tether will not find itself in a position to progress further on the list when it comes to market cap size anytime soon, the project will certainly find this addition to be helpful.
As for the reason behind the sale that benefitted Tether, it comes from the fact that the SEC started investigating both Paxos and BUSD, as well as a number of other stablecoins, in order to determine whether they should be classified as unregistered securities. Given the fact that the regulator has been cracking down quite strongly on the crypto industry since the start of the year, it is understandable why the stablecoin users are moving to other assets.
TMS Network is poised to become the go-to platform for decentralized trading
Trading in the decentralized sector has gone up quite significantly since DEXes became popular, but since they are still in their early stages, there is a lot left to do before they can rival CEXes as equals. This is why the TMS Network (TMSN) was developed, to serve as an Ethereum-based one-stop-shop for all traders.
TMS Network has the goal of revolutionizing the trading industry by solving the most pressing issues, and eliminating things like high trading fees, wash trading, price manipulation, transaction delays, and more. All transactions on TMS Network are instant, low-cost, and safe. The one-of-a-kind platform also offers a seamless and enjoyable trading experience, specially tailored to be easy to use, rich with assets, educational content, and it even has a social trading feature.
More importantly, TMS Network (TMSN) is currently holding an ICO, which is in the pre-sale phase. It entered the phase on February 16th of this year, and the price of each TMSN token is only $0.025. Stage 1 has now been sold out and stage 2 has commenced! TMSN has a goal of using its native token to power the platform, and to use the platform to offer the high-quality, fair, transparent, and efficient market, equipped with cutting-edge technology. By purchasing the token, you can support the project and help it achieve its goal of becoming the best trading platform in decentralized space.
You can find out more about TMS below:
Presale: https://presale.tmsnetwork.io
Whitepaper: https://tmsnetwork.io/whitepaper.pdf
Website: https://tmsnetwork.io
Telegram: https://t.me/tmsnetworkio
Discord: https://discord.gg/njA95e7au6
Twitter: https://twitter.com/tmsnetworkio
Disclaimer
Any information written in this press release or sponsored post does not constitute investment advice. Thecoinrepublic.com does not, and will not endorse any information on any company or individual on this page. Readers are encouraged to make their own research and make any actions based on their own findings and not from any content written in this press release or sponsored post. Thecoinrepublic.com is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release or sponsored post.
For publishing articles on our website get in touch with us over email or one of the accounts mentioned below.