Tech
The cryptocurrency market is showing signs of recovery as NFT prices and sales increase over the month
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The cryptocurrency market and the overall ecosystem may be showing signs of recovery after a prolonged bear market.
At the time of publication, cryptocurrencies are popular bitcoin AND ethereum according to CoinMarketCap data, they increased by 30% and 28% respectively compared to the previous month. Separately, the total market capitalization of cryptocurrencies is up by approximately 31% to $1.41 trillion over the same period.
According to CryptoSlam, the NFT space, which took a nosedive following its latest hype cycle in 2021 and 2022, has also seen total sales increase 64% in the past 30 days. data. The top three blockchains by NFT sales volume were Ethereum, Bitcoin, and Solana, and all saw an increase in sales (44%, 1,222%, and 56%, respectively) over that time frame.
Separately, the crypto venture capital landscape is heating up after six consecutive quarters of declining investment in web3 companies. The bullish turn comes at a time when a long market downturn persists, cooling consumer, founder and investor interest in the cryptocurrency sector.
More information below.
This week on web3
- After six quarters of declining venture capital interest, cryptocurrency investors see recent price increases as a positive sign (TC+)
- Aave Companies rebrands to Avara and acquires Family crypto wallet to expand its web3 reach
- Prosecutors will likely proceed with SBF’s second trial in March (TC+)
The last pod
For this week episode, Jacquelyn interviewed Stani Kulechov, the founder of Avara, formerly known as Aave Companies.
The company is probably best known for its Aave protocol, its platform-focused GHO stablecoin, and its Lens social networking protocol.
The web3-focused software technology company announced exclusively on our podcast the rebranding and strategic acquisition of an Ethereum-based crypto wallet. The Aave name will still exist, but through Aave Protocol and Aave Labs, two organizations under the Avara umbrella brand.
We discussed the rebranding, acquisition, changes to projects under the Avara umbrella, and monetization of content creators on decentralized social media platforms and what it might look like.
We also talked about:
- The target is exiting the beta phase
- Decentralized social media compared to traditional ones
- The future of social networks
- What is the future of Avara?
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BONUSES: On Monday, Equity, TechCrunch's podcast focused on the business of startups, dived into the million-dollar question: Are we at the beginning of a new bull cycle in cryptocurrencies? Listen Here.
Follow the money
- Taproot Wizards raised $7.5 million (TC+) for his Ordinals project to bring the “magic” back to Bitcoin
- Baton, a music collaboration platform for unreleased material, raised $4.2 million
- Asset management firm Superstate has closed a $14 million Series A financing
- Web3 social network Sleek has raised $5 million in a seed round
- Beoble has raised $2 million in a seed round to grow web3 social experiences
This list was compiled with information from Messari and reporting from TechCrunch.
What else are we writing
Do you want to leave the world of web3? Here are some articles on TechCrunch that caught our attention this week.
- The feds want speed-reduction technology in every new car. Are American drivers ready?
- The bullish case for software growth in 2024 (TC+)
- The time for triage is over (TC+)
- How Inversion Art is trying to become the Y Combinator of the art world (TC+)
- AI makes you worse at what you're good at
Follow me on Twitter @Jacqmelinek for the latest cryptocurrency news, memes and more.