Two co-founders of BSC.News recapped the week’s upward trend while highlighting market gainers from NFTS and yield optimizers.
BNB Catches Up
BSC.News held their weekly Market Review from co-founders Greg and Ben on YouTube Friday, August 13. No bad luck coming this Friday, the 13th, as the news was all positive coming out of the market. Topics included NFTs, yield optimizers, and overall market vibes.
The review began with Greg highlighting the gains across crypto, notably Ethereum blasting through the $3,000 mark and Bitcoin maintaining a level over $45,000. Ben and Greg both agreed that BNB hitting $400 was a bullish sign for the Binance token that lagged behind overall market trends last week.
“In the past week, #BNB has moved up over 20%, which is pretty significant since last week BNB was lagging behind the overall market,” Greg said. “Hitting $400 is a healthy sign.”
NFTs and GameFi
After discussing the overall market trends, Greg and Ben dove a bit deeper into where they found some of the most activity in crypto. The demand for NFTs is just all over the map now.
The worlds of GameFi and play-to-earn Non-Fungible Tokens (NFT) were discussed, with Axies Infinity and CryptoBlades both recognized as top earners.
More was discussed about what are called generative art NFTs. Greg showed Ben how the average price at this time for a CryptoPunks NFT on OpenSea is almost 80 ETH, and over the last 90 days is 43 ETH.
One specific highlight from the NFT world is the Non-Fungible Apes (NFA) from ApeSwap on Binance Smart Chain. Greg notably recognized how the market for these special NFAs has been heating up. He took Ben for a showing of the ApeSwap marketplace noting the prices, the highest of which are around $30,000 for a single NFA.
Yield Thesis
As we learned, neither Ben nor Greg have been too engaged in NFTs, so the talk switched to yield optimizers. Ben reviewed his market thesis about yields and decentralized exchanges. He said he’s drawn to the business model of how they work and sees continued room for optimism in the market.
“I see yield optimizers and DEXs as a business, as service providers who distribute services to users and projects while distributing gains back to the stakeholders,” Ben said.
The two hosts went on to highlight some specific exchanges and protocols they find promising. Greg picked Tranchess––who recently locked up $500 Million in Total Volume, and Ben recognized Luna, which is used as collateral for the $UST of Mirror Protocol.
Tune In Again
Be sure to tune into the weekly market recap every Friday at 16:00 UTC on the BSC.News YouTube, @GoonTrades, and @Kcryptoinvest.
Don’t forget to download the BSC.News mobile application on iOS and Android to keep up with all the latest news for Binance Smart Chain and crypto!
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.
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