Crypto NFT Today: Latest News on Blockchain, Cryptocurrency and NFTs: June 15 – June 21, 2022

Where should I start? The cryptocurrency is in free fall. The Bored Ape market base is now below $100,000, Bitcoin and Ethereum broke 2020 lows and we are now in the “crypto winter.” So the question is, can it get better?

In short, after shouting inside my head, my answer is yes.

Now, I’m not here to be an “expert,” but as a long-term investor and tech supporter, there is a need and benefit to using blockchain for a variety of reasons. The good news is that we don’t even need to get into this conversation to justify a jump in this challenging market environment. Global companies are investing in NFTs, metaverse scalability, and cryptocurrency support through payments. On the contrary, the market is not even close to breaking the tip of the iceberg.

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It’s just a matter of time.

I believe it is important to note that many other markets, including Wall Street and the stock market, will continue to decline, and some may continue for years. General goods, gas, and the cost of living are also rising. Inflation is reaching absurd proportions globally. It’s the perfect time to be frugal and focus on maintaining good habits!

Now for some market updates.

Binance doubles down on its commitment to the cryptocurrency industry

Industry leader Binance has doubled down on its commitment to the cryptocurrency industry, as global crypto exchanges hurt workers ahead of the “crypto winter” and market figures may be in vain. Binance CEO Changpeng Zhao revealed the company’s promise to expand its global powers through 2022.

Binance recruits for over 2,000 positions worldwide. Click here to view Binance job postings.

Anonymous Shiba Inu Lead Developer teases the Much-anticipated Layer 2 Blockchain, Shibarium

Shiba Inu’s anonymous lead developer, Shytoshi Kusama, shared a new update on WELLY’s Discord. Shy confirmed that the Layer-2 solution, known as Shibarium, is coming soon, adding that it is “already being discussed to support the effort”.

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Shibarium is one of the most anticipated Layer-2 Ethereum blockchain solutions that will hopefully provide slower transactions and a secure, creative space within crypto and web3. The release of this project should add great value to the Shiba Inu ecosystem as a whole.

As of now, there is no official release schedule for Shibarium.

Scientists Introduce A Completely Decentralized Stablecoin Connected To Electricity

Scientists and researchers at Lawrence Livermore National Laboratory in California introduce a new completely decentralized barn connected to a physical entity; electric.

But what exactly does this mean?

This “fully collateralized stablecoin” is pegged to a physical asset and its value depends on the utility’s use as a utility. According to scientists, energy can be transmitted without the need for physical cables or a network-based transmission system. Initially offered as an e-stablecoin or an electric stablecoin, this stablecoin will be the first of its kind.

“Any anonymous party can issue an E-Stablecoin token with approximately one kilowatt-hour of electricity input. They can then transact with a digital token like any other cryptocurrency or even convert it to usable electricity without the need for power companies, power lines, permits or authorities. So it’s an unreliable top-down system,” explains Maxwell Muriado, one of the scientists involved in the project.

This news potentially means the end of transaction fees with global exchanges and could create new excitement in the industry.

Coinbase licenses the highest employee rates of any crypto-asset exchange

Coinbase is laying off about 1/5 of its active workforce, which has led to recent layoffs by major global crypto exchanges. As a result, CEOs and executives are preparing for a sharp decline in market value, output, and the inevitable “crypto winter.” Crypto.com is expected to cut 5% in the market, Robinhood 9%, Gemini 10%, BitMex 25% and many more.

For Coinbase, the latest takedown announcements have dropped eerily after their new ad went live during the NBA Finals on Monday.


WELLY NFT Collection Releases Community Hit Shib

The WELLY NFT collection was unveiled this week and has proven to be a huge success thanks to the hard work of the Shiba Inu ($SHIB) community. Thousands of NFTs were collected at OpenSea over the weekend, either by first issuance or purchase, while the remaining unprinted supply was burned by the developers of WELLY NFT, adding value to the holdings for those involved.

Each NFT owner owns a minority stake in all current and future WELLY franchises.

Explanation: At the time of writing this article, the author owns several cryptocurrency and NFT assets. The information in this article is not financial advice.