Key Takeaways
- As of this writing, searches for "nonfungible token" and "nonfungible token" (NFT) are more common than searches for "Dogecoin" (Blockchain) or "Ethereum."
- Paradigm, the cryptocurrency tycoon, has unveiled a new $2.5 billion investment fund.
- Elon Musk sent a joke coin soaring to new heights after tweeting about something that has nothing to do with the cryptocurrency sector
As Dapper Labs' NBA Top Shot and vintage Ethereum-based NFTs sparked frantic speculation, interest in NFTs soared in the first few months of the year.
As of the end of June, search traffic had dropped by 75%, but interest started to rise again in July, and by the end of October, the bubble had burst into new highs.
Search volume over the last 24 months for the terms "NFT" and "non-fungible token"
Over the last three months, Google search traffic for NFT-related terms has doubled.
As a result of the surge in interest, "NFT" has surpassed numerous previously dominant phrases in the crypto-related search traffic, such as “DeFi,” “Ethereum,” and even “blockchain.”
A $2.5 billion Bombshell Venture Fund, headed by Coinbase co-founders, has been announced
Cryptocurrency and blockchain technology seem to be booming. Since this year, this sector has had the highest value increase. A new $2.5 billion fund from venture capital firm Paradigm is just the latest in a series of moves by the company.
Cryptocurrency fundraises are no longer a surprise because of the fresh surge of interest from investors. It's a well-known investment company like Paradigm that has broken Andreessen Horowitz's record for the largest venture fund in the cryptocurrency business.
There is a new $2.5 billion venture fund devoted to cryptocurrency startups and protocols, unveiled by the VC company Paradigm. Officially, this fund will continue to invest alongside its flagship fund across all phases and locations, according to the article.
Paradigm Co-Founder and Managing Partner Fred Ehrsam, who previously co-founded Coinbase, said that the new fund and its scale reflects "crypto being the most interesting future in technology." They also discussed the rise of decentralized financial (DeFi) structures and Web3 apps while discussing the possibilities of crypto.
The Elon Musk Effect: StarLink (STARL) Surges Over 100% Amid SpaceX Rocket Launch
In the crypto market, there are no surprises when it comes to strange and outlandish developments. Elon Musk's company, StarLink (STARL), just had a big swing, but it's not what you think.
StarLink shares its name with the Elon Musk-backed satellite internet network, Starlink. On November 11th, SpaceX launched their second rocket with 53 Starlink satellites attached to it. In only four days, STARL saw a stunning 115 percent increase in its stock price. Bitcoin's value jumped from $0.00003724 to $0.00008.
Over the last 24 hours, the price of STARL has risen more than 13 percent, despite the waning of the enthusiasm. StarLink, the 229th most valuable cryptocurrency on the market, has no link to Elon Musk.
Cryptocurrency project StarLink and SpaceX's Starlink internet project are two entirely separate companies. He was not involved with cryptocurrency, despite the closeness in their names. As a matter of fact, the Technoking himself has not tweeted about the asset.
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