Sleeping Bitcoin giant wakes up
GM, This is Crypto Jargon.
Here’s what we’ve got for you today:
The NFT market has drastically dropped
CRYPTO CAREERS BY JARGON
A sleeping Bitcoin giant wakes up
Meme of the day
NFT ACTIVITY IS TRENDING DOWN
NFTs had a difficult year in 2022. 2023 hasn't been any better thus far either.
NFT market metrics are in serious decline. One keeps track of how many active wallets interact with NFTs daily. It then abruptly plummeted off a cliff.
When you narrow it down to the most popular NFT marketplace, OpenSea, things look even worse. OpenSea hasn’t seen so few daily users on its platform since July 2021.
No one is safe. The top collection on OpenSea is way off its all-time highs: The cheapest Bored Ape Yacht Club NFT has gone from $422K → $76K.
And to add to the pain, a lot of past NFT volume was due to wash trading, where the same user trades an asset back and forth. It's estimated that more than half of all NFT volume was wash-traded in 2022.
Why does this matter? It shows things are a-changin’ in NFT land.
When NFTs got popular, it was all about momentum. People were always chasing the next shiny object and throwing money everywhere they could.
Remember when Pixelmon (NFT project) was able to raise $70M off just an idea?
But now, times have changed. Starbucks, Reddit, and Nike are all taking different approaches to their new projects, ones that customers are actually digging.
They’re putting their focus on low costs, wide access, and deeper relationships with consumers.
CRYPTO CAREERS BY JARGON
The cryptocurrency industry is constantly evolving and expanding, and as a result, there is an increasing demand for skilled professionals. With the potential for high salaries and exciting job opportunities, a career in the crypto industry can be both challenging and financially rewarding. From blockchain developer to content writer/creator and market analyst, there are a variety of roles available for those with the right skills and experience.
If you have an interest in cryptocurrency and the drive to succeed, a job in the crypto industry could be the perfect fit for you, here’s a look at the top 3 highest-paying crypto jobs.
Jobs trend over past many months
Crypto Content Writer
Blockchain Developer
DECADE-OLD BTC WHALES WOKE UP
There’s one creature you should always be watching in crypto.
One whose moves should be eyed like a hawk.
We’re talkin’ bout whales, or investors holding more than 1,000 BTC (~$27.3M.) Specifically OG whales that bought early back in ~2013.
And now, they’re waking up.
That’s right folks, grab your Dramamine - we’re goin’ whale watching.
Whale 1 holds $176M worth of BTC and sent $60M for the first time in 9 years on Thursday.
And Whale 2 sent $7.8M (279 BTC) of its $31.6M for the first time in 10 years on Friday.
Both came into their holdings around 2013 & both sent the funds to brand new addresses.
So what’s going on? Well, there’s a wallet drainer on the loose attacking OG holders, apparently. Whales could be relocating parts of their holdings as a precaution.
A Twitter user posted about it on Monday.
Here are the keynotes:
Holders with private keys between ~2014 & 2022 are being targeted. People who work in the space, have multiple addresses, etc.
At least ~5K+ ETH (~$10M) has been stolen since December.
This isn’t a phishing attack. The attacker likely came into a bunch of old data, including private keys, that they’re using to extract people’s funds.
There’s of course… another theory behind the whale activity. The internet’s always gonna internet
It could be Satoshi AKA Bitcoin’s creator. Whenever sleeping whales wake up and do something, people think it’s them (they’ve been inactive since 2010.)
Why? Cause Satoshi could own a sh*tton of BTC (like 1M, or ~$27.9B.)
Whatever the reason, do like the whales do and don’t put all your crypto eggs in one basket (wallet.)