Crypto Flipsider News – August 26 – Ethereum & Bitcoin, Morgan Stanley, eToro, OnlyFans, Hype Hippos, Dutch Tulip NFTs
- Ethereum market cap in comparison to Bitcoin’s one doubled since January
- Morgan Stanley (NYSE:MS) invests millions into GBTC shares
- eToro crypto income skyrocketed in contrast to the previous year
- OnlyFans halts the decision to ban adult content
- NFT updates: Hype Hippos, Dutch Tulip NFTs, Budwiser Fanart, and others
Ethereum Market Cap in Comparison to Bitcoin’s One Doubled Since January
The two biggest coins are always rivals in the public’s eye. People compare them all the time, forgetting that these projects have different ideologies in their essence.
On the other hand, it’s always good to know what is the situation at the top of the crypto list. Currently, Ethereum’s market cap takes 41% if we consider Bitcoin’s one as 100%. In fact, this number has doubled since the beginning of the year
Although the record was established in 2017 when the amount of ETH was 85%. This was a pretty impressive result, which is impossible to imagine now.
- Ethereum is chasing Bitcoin while Ethereum-killers are chasing the first one – everlasting hot pursuit. On the other hand, it’s better to keep an eye on young promising projects. It’s not a race. It’s a market where everyone takes their own niche.
Morgan Stanley invests millions into GBTC shares
Banking giant Morgan Stanley holds large amounts of Grayscale Bitcoin Trust (GBTC) shares, revealed its filing with the SEC. Morgan’s Insight Fund alone holds over 928k shares worth almost $36M.
Morgan Stanley was the first US-based bank to offer exposure to BTC funds. Other major US banks also show interest in cryptocurrencies: Wells Fargo (NYSE:WFC) and JPMorgan (NYSE:JPM) launch their BTC funds.
- While banks increase their exposure to BTC, others like Michael Saylor increase their BTC holdings. His MicroStrategy just invested $177M these days. Bitcoin might be at serious risk of centralization one day.
eToro Crypto Income Skyrocketed in Contrast to the Previous Year
Q2 2020 brought $264.2 million of commissions from crypto trading. In comparison to Q2 2019, the number was $11.2 million, which is estimated more than 20 times. The increase is impressive.
Even more impressive is the fact that BTC is only 7% of total crypto commissions. Even Dogecoin overrun the main crypto, although the leaders are ETH, ADA, and XRP.
- Unfortunately, crypto advertisement regulations are strict, so probably we won’t see Alec Baldwin talking about how he trades Dogecoin instead of doing his laundry
OnlyFans halts the decision to ban adult content
Content subscription platform OnlyFans suspended the decision to move away from sexually explicit videos. Last week a popular website broke the internet with plans to ban pornographic material due to pressure from payment providers. The decision had to take effect on October 1st. OnlyFans CEO Tim Stokey blamed banks, saying that they didn’t want to risk their reputation by accepting sexual material-related payments.
Now Stokey justified his previous decision as the one made “in the shame-filled moments after orgasm”.
OnlyFans has over 50 million users and more than 1 million content creators. Porn-related content is the most popular content on OnlyFans.
- OnlyFans announcement created a lot of buzzes, the website got a lot of coverage in the global media. Celebrities like Tyga even announced plans to launch their crypto-based OnlyFans alternatives. Who could deny it’s a genius PR move to increase OnlyFans awareness. And to do it even for free? Fortunately, he also did a kind of publicity for the cryptos
NFT Updates: Hype Hippos, Dutch Tulip NFTs, Budwiser Fanart
- Hype Hippos plans to launch Sunday, August 29th at 3 PM EST.
They will be releasing all of their information on the drop on their website at HypeHippo.io
- An NFT collection of pixelated flowers inspired by the Dutch tulip bubble is attracting crypto users, with one selling for more than $55,000.
The NFTs are an explicit tribute to the 16th-century Dutch tulip craze and subsequent crash.
- According to the OpenSea marketplace, the beer producer purchased a fanart – Budweiser-branded rocketship NFT for $25,704.
The “Life of the Party” image will be used for the official Twitter (NYSE:TWTR) profile picture.
Sport NFT Updates: Kobe Bryant, Naomi Osaka, and Tom Brady, Dapper Labs’ Sports NFTs
- Cryptography has released eight NFTs of Kobe Bryant’s never seen pictures.
The pictures were taken in 1999 by photographer Davis Factor at an abandoned LA warehouse. The eight NFTs are titled: “Easy,” “I See You,” “Jump,” “Leather,” “Sexy,” “Style,” “The Kiss,” and “Time.” All proceeds will be donated to Mamba & Mambacita Sports Foundation.
- The 23-year-old tennis star N.Osaka joined an NFT platform co-founded with Tom Brady called Autograph.
Yesterday Osaka dropped her own NFTs in hopes to give her fans an additional way to connect with her. Osaka said she couldn’t say no to Brady about the idea of creating her NFT as some real sports legends are working with Autograph.
- This week, Dapper is adding WNBA – women athletes that are taking top spots.
Additionally, reports have surfaced that Dapper Labs has partnered with one of the most popular sports leagues on the planet in LaLiga.
- It is definitely nice to see sports legends releasing their NFTs, entering the market to leave their digital mark. This is also a good way to stay connected with their fans. However, the NFT market can be overfilled with boring ’’never seen pictures’’ of sports legends. It is time to come up with something more creative.
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