Top 5 cryptocurrencies to watch this week: BTC, BNB, LUNA, MANA, SAND
Bitcoin looks ready to rebound off a critical support level and if this happens select altcoins like BNB, LUNA, MANA and SAND may also attract buyers.
Bitcoin (BTC) and most major altcoins have been struggling to recover from the sharp fall seen on Nov. 26. This indicates that traders may be nervous to buy at current levels due to the uncertainty regarding the new heavily-mutated coronavirus strain detected in South Africa.
According to a CryptoCompare report, Bitcoin’s assets under management decreased 9.5% to $48.70 billion in November. On the other hand, the AUM of altcoin-based crypto funds increased 5.4% to $16.60 billion.
This indicates that traders may have booked profits in Bitcoin and rotated part of that money into altcoins.
Celsius founder and CEO Alex Mashinsky is unfazed by the recent decline and viewed the fall as a buying opportunity. He said on Nov. 28 that he had “bought almost $10m worth of Bitcoin and Ether at the current levels” as he anticipates Bitcoin to rally to $70,000. Mashinsky added that he would cut his latest purchases in half if Bitcoin breaks the support at $50,000.
If Bitcoin recovers from the current level, select altcoins may also attract investor attention. Let’s analyze the charts of the top-5 cryptocurrencies that may remain in focus in the next few days.
Nifty News: Damien Hirst airdrops NFTs, AMC teams up with Spider-Man, 3D NFTs on ICP
AMC Entertainment and renowned NFT artist Damien Hirst are airdropping NFTs to fans and collectors.
AMC Theatres is planning a NFT promotion to celebrate the opening day of Sony Pictures’ Spider-Man: No Way Home at cinemas across the United States.
The company is offering a limited number of up to 86,000 Spider-Man NFTs for members of its “AMC Stubs Premiere & A-List” and “AMC Investor Connect” subscriptions. Those who purchase an advance ticket for the Dec. 16 showing of the latest Spider-Man movie will be eligible for the airdrop.
The collaboration between Sony Pictures and AMC Entertainment is the first of its kind according to the Nov. 28 announcement.
More than 100 NFT designs will be available created by Cub Studios, a BAFTA award-winning animation studio. The tokens will be redeemable on the WAX platform, a carbon-neutral blockchain running on proof-of-stake consensus.
The hotly anticipated movie is the third in the Spider-Man Hero franchise and the sequel to Spider-Man: Far From Home which grossed $1.13 billion globally.
Damien Hirst giveaway
Renowned British NFT artist Damien Hirst has airdropped 10,000 NFTs to those who had previously purchased artwork from his “The Currency” collection.
The giveaway is from the new NFT collection “Great Expectations” which is a series that contains 10,000 images based on his Certified Lover Boy artwork.
The collection is based on the artwork for the cover of “Certified Lover Boy”, the sixth studio album by Canadian rapper Drake. On Nov. 26, Hirst commented:
“I tried to create an image that sums up the powerful hope filled love, humor & daring truth in the music of Drake for his album cover and now my hope is that with this free gift you can all share and feel the excitement I feel about NFTS and the digital world.”
3D NFTs on ICP
Dfinity’s Internet Computer Network (ICP) is launching NFT Studio, a 3D and interactive NFT platform enabling creators to design, mint, and stake regular and interactive 3D NFTs.
The platform includes a 3D voxel engine and a pixel engine which allows users to create 3D models that can be converted into NFTs and used in video games.
Lukas Merville, founder and team lead at NFT Studio, said that 3D creators are often limited on networks such as Ethereum or Solana which cannot handle large files sizes, before adding “3D NFTs sounded like fiction — well beyond the current state of blockchain technology. But we have made them possible on-chain thanks to the Internet Computer.”
There are a number of NFT collections already running on the ICP such as ICPunks, ICPuppies, and ICKitties.
Other Nifty News
A rare plot of digital land in the Axie Infinity game sold for 550 ETH on Nov. 25, or roughly $2.5 million. There are just 220 "Genesis plots" in existence making it one of the rarest in the game.
Axie is not the only notable virtual land sale as some plots have been fetching big bucks recently. As reported by Cointelegraph, the Decentraland-based Metaverse Group purchased 116 parcels of land in a prime location in the Metaverse for 618,000 MANA tokens worth roughly $2.5 million.