Discover more from Token Dispatch
1 Billion users in the next 3 years. That's 12% of the world. BTC #LFG
Is Bitcoin the best brand in Crypto? Who is questioning it to begin with. Crypto lovers score big on Valentine, 50 billion hours for Roblox , and it's not easy being Sam, definitely not if your SBF
Hello y'all. This is The Token Dispatch. Bitcoin is bringing all the cheers for the crypto folks, are you listening SEC? What does one do about Papa Musk? Dispatched thinking how exactly one can master Roblox and planning for the next Valentine. Get me a suit, like now?
🚀 What's Up With BTC Lately?
Some call it the fancy-pants Ordinal effect but come on, we all know bitcoin was born to shine like a diamond. So, what's the tea?
First off, it the data projection is anywhere close to being right, we are in for a jackpot - BTC is about to hit 1 billion users - 12% of the world - in the next 3 years? 👀
Looks like it!
Bitcoin investors are planning to HODL their coins, as the number of exchange withdrawals has surpassed deposits. This is a bullish sign that the coins accumulated during the winter are being held for the long term. In fact, the total number of Bitcoin transactions has reached a two-year high, with withdrawals outpacing deposits. This is a significant shift from the dominating trend since 2014, where exchange deposits have outpaced withdrawals.
📈 The ATH
Bitcoin has reached a 6-month high of $24,260, up 9% from the previous day. This surge in price is likely due to the 65% drawdown in 2022, making it an attractive liquidity play. Lower volatility in stocks and bonds, lower oil prices, and a weakening U.S. dollar have also contributed to the rise in Bitcoin's price.
💸The Biggest Withdrawal
Just yesterday, the third biggest withdrawal of Bitcoin from exchanges occurred, amounting to roughly $130 million, with $100 million made up of transfers larger than $1 million. This equates to over 6,000 Bitcoin. This withdrawal happened just one day before the Consumer Price Index announcement, which could have an effect on the cryptocurrency market.
🆕 All Thanks to Ordinals?
Ordinals, the latest buzz in the crypto world, is a project to bring digital assets natively to the Bitcoin blockchain, has passed 100,000 inscriptions. Transaction fees for the digital collectibles have topped $114,590.
🤔 What is it? Ordinals is a method of inscribing NFT-like assets to the Bitcoin blockchain by connecting them with a single Satoshi. It's sparked a whole bunch of awesome CryptoPunks clones and even some rad web games. Projects such as DeGods NFT collection and Xverse web wallet have adopted Ordinals; plus, the Ethereum project OnChain Monkey put their entire 10,000 NFT collection into one inscription.
Developers are working on launching features such as a seamless way to inscribe Ordinals, marketplaces to buy and sell digital artefacts, and wallets that allow collectors to see their Ordinals. The milestone has brought cheers to the crypto space, but also caused network congestion.
🎉DeGods joins the party!
More than 100,00 NFTs have joined Bitcoin in under two weeks. 535 of those NFTs are Solana's most significant project, DeGods. The project's creators, Rohun Vora and Kevin Henrikson are total Bitcoin fanatics, so they're stoked to make this happen!
Out with the old, in with the new: The 535 DeGods now available on Bitcoin were initially launched on Solana in 2021. To make room for these bad boys, the original DeGods NFTs were "burned" - aka permanently destroyed - to lower the supply.
Of course, fitting 535 NFTs into a single block is no small feat. The images had to be compressed to a low-res 210x210 pixels, and the project team worked with a Bitcoin miner to get all of those inscriptions etched onto the blockchain at once.
🙌🏻Xverse's in on it too
Xverse, a Bitcoin wallet for Web3, has rolled out support for Ordinals. Inscriptions are made via Gamma.io, a Bitcoin NFT marketplace, and users can find their inscriptions inside their Xverse NFT collection within 20 to 30 minutes. This comes just a day after Hiro, another Bitcoin-focused Web3 wallet, rolled out inscriptions to its testnet.
💥El Salvador Again
El Salvador, the country that became the first to make Bitcoin legal tender, is now planning to open a "Bitcoin embassy" in Texas to educate the public on the world's biggest cryptocurrency. El Salvador has been a strong supporter of Bitcoin, having also opened a "Bitcoin office" in Lugano, Switzerland, to spread the adoption of the cryptocurrency in Europe.
Hello crypto lover. Be my Valentine 💝
So, Binance conducted a valentine’s day survey and:
83% of respondents say that having a partner that likes crypto is an attractive feature in a relationship.
70% are excited about going on a date with someone interested in crypto
60% find people interested in crypto appealing and tech-savvy.
Now you know just what to add to that dating profile!
Who knows, Keanu Reeves may be your next match!
Lately, he's been calling crypto "amazing tools for exchanges and distribution of resources." In a recent interview, he said that criticism of crypto would only make it better in terms of how it's safeguarded. He is also interested in the implications of digital art technologies like AI and NFTs, noting that people are already listening to music made by AI in the style of Nirvana, and there's NFT digital art. Keanu believes that these tools are changing the way people interact with art and money.
But what would Neo say? 👀
50 billion hours in 2022. The metaverse is here
Roblox just had the time of its life in 2022! Their daily active users went up by a whopping 23% to 56 million! That's more people than you can fit in a stadium! And get this; users spent a total of 49.3 billion hours on the platform - yep, billion with a "b"! They even managed to sell $2.9 billion worth of their in-house currency, "Robux," making everyone's pockets a little bit heavier. And the company's shares shot up 25% after the opening, making investors jump for joy!
It's no surprise that many tech leaders are looking at Roblox as a shining example of a metaverse that's already killing it. Developers can create their own games and experiences on the platform, allowing them to benefit financially when the "servers" they develop generate significant engagement.
Can I play League of Legends? No Sam. You can't 🙅♀️
Oh no, Sam Bankman-Fried might have to say goodbye to his League of Legends and other video games if the prosecutors get their way! They want to take away his cell phones, tablets, computers, and even the internet (except for some super boring stuff)! Sam is a big-time gamer and has used video games to relax and clear his mind in the past. But it looks like he might have to find a new way to chill out.
On a related note, two of the people who signed on to his $250 million bond have been revealed as a senior research scientist and a former law school dean from Stanford University.
Who wants to play Twitter CEO? 🙋
Traders are going crazy pumping all things Shiba Inu after Elon Musk's dog Floki took over as the new boss of Twitter! And it's making some serious bank! The price of DOGE has risen 5.4% over the past 24 hours. That's some serious coinage!
And get this, Floki's price has skyrocketed almost 100% after the Floki Inu DAO passed a governance resolution to do a $100 million token burn. Talk about burning up the charts! And this isn't the first time DOGE has spiked on a Musk-related tweet. It seems like every time Musk tweets about his furry friend, the markets go absolutely bonkers!
You think #ElonMuskEffect pumps? Then you might be wrong.
Oh, and by the way, Musk is done with Parag Agrawal and on the hunt for a new Twitter CEO. Musk has unfollowed Agrawal, while Agrawal still follows Musk. he's even said he'll resign as soon as he finds someone foolish enough to take the job. Looks like Musk is on the hunt for a new CEO of Twitter. Well, I guess we'll have to wait and see who's up for the challenge! Floki?
TTD Surfer 🏄🏻
NFT animation shop Superplastic raised $20 million from the likes of Amazon, Google, Kering, Animoca Brands and Sony Japan.
Napster brand is taking its next step into Web3 with the acquisition of startup Mint Songs.
OpenSea halts secondary sales of Rihanna's NFT collection for her song "Bitch Better Have My Money."
Ripple said it would donate $1 million to NGOs providing relief for victims of last week's devastating earthquake in Turkey and Syria.
The Masked Singer" has launched a digital fan experience that offers generative art, live show voting polls and token-gated exclusive content.
So long. OKAY? ✋
The Token Dispatch is a newsletter that takes you on a 4-5 minute drive through the wild west of the Crypto World. Daily in your email inbox @12:00 GMT.