Bitcoin (CRYPTO: BTC) The market cap crossed the $ 1 trillion mark late Monday night at press time, but it was. Ethereum (CRYPTO: ETH), the runner-up by market value, who was stealing the show.
what happened: BTC was trading 6.65% higher at $ 53,844.15 at the time of publication in the 24-hour period, while ETH was up 7.25% at $ 1,843.42.
Ethereum has been boosted by the frenzy surrounding non-fungible tokens in recent days.
In sympathy with the NFT craze, governance codes for NFT projects have also soared. Monavali (CRYPTO: MONA) Fashion auction platform exchange symbol was the 52.29% top gainer at $ 1,748.13, as of the time this article was published.
Other tokens that were on the way are Wax (CRYPTO: WAXP) increased 37.71% to $ 0.192 Enjin coin (CRYPTO: ENJ) was 9.49% higher than $ 1.82.
Enjin rose more than 39% on Monday thanks to recent positive news and Ethereum He drags his feet On repair fees.
Chili’s (CRYPTO: CHZ), which is a local token for the eponymous sports blockchain platform Rose more than 200% In the seven days until Monday.
The token was trading up 76.11% at $ 0.241 at time of publication.
why does it matter: There was a buzz about NFTs the last days As several artists like Grimes, Shrek Tesla Corporation (NASDAQ: TSLA) CEO Elon Musk, Pebble, and Lindsay Lohan have released artwork using technology.
On Monday, a work of art that Banksy had destroyed – “dupes” – was sold as a NFT token for over $ 394,000. Injection protocol (CRYPTO: INJ) was the company behind the Banksy purchase.
Yum! Brands, Inc (NYSE: YUM) affiliate Taco Bell also hopped on the NFT bandwagon with its release The art of taco, Which was sold shortly after it was made available on the Rarible Market.
Aside from the hype of NFT, ETH is also set to benefit from Update this summer That would lead to a decrease in the total number of tokens in use.
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