No Blocking the Blockchain!
Big moves by big companies.
Competition is ferocious with growth on the Blockchain Industry. With platforms competitive for the gold medal, the top dogs are in the pit for number one! Recently The Big Whale did an interview with FTX CEO Sam Bankman-Fried. The interview revealed hints of a potential stablecoin launch, buying Robinhood and the current state of the markets and their future. This is great while Binance, one of the top platforms for trading, has been remarkably successful with BUSD. With a recent announcement that said that it would remove trading pairs for USDC, TUSD, and USDP on the exchange. Some see this as a power move, while others see it as a net positive. If this happens FTX would be joining an incredibly competitive market, that USDT or Tether dominates. The second largest stablecoin is USDC or USD Coin, which is also quite popular and planning to expand to more markets. Just thinking about it, if FTX produced a Stablecoin it would Compete Against the likes of BUSD. Binance’s stablecoin BUSD was launched in 2019 and has had success, though it is third behind USDT and USDC. This a battle royale of the stable coins! The BUSD has a direct upward trajectory
The supply of BUSD has climbed rapidly recently, with the current supply at approximately $21.6 billion. This is close to 15% of the stablecoin market share. In October, the percentage of trades denominated in BUSD stood at 22%. In any case a competitive edge gives the customer or user an advantage.
A win, win? Time will tell.
Is Reddit Ready?
New companies join the Blockchain daily, and a social media titan Reddit has brought the spotlight after the recent spike in interest for the Collectable NFT avatars. The artwork is attracting new-users and the hype is building up! With that, some are beginning to guess that the forum-based website could be heading for the metaverse after its latest success with NFTs. The written format is expanding on the blockchain, and this is nothing but a good word for writers. After assessing the waters and the Reddit Avatars Prices shot through the roof with a record high, it seems that Reddit has big plans for its meta verse. Utilizing the NFT avatars to develop a foundation for marketing it’s for its virtual universe. Stay tuned to see how the DAO works within the new ecosystem. With a growing appetite for Reddit Avatars, it will be easier for the company to infiltrate other ecosystems as it teams up with promising projects in the NFT space. Joint Ventures or collaborations can be seen in the future. Adding joint ventures for startups is a great strategy for new or seasoned tech companies. Keep your eye on Reddit! The company has raised $550 million in the past three years and doubled its annual revenue from $170 million in 2020 to $350 million in 2021. Given that, the NFT analyst reckoned that the company has all the resources to pull off its metaverse ambition. And with a large treasury they have the funding to take down obstacles. The development and direction companies are taking looks promising, and one is curious to see who will lead the industry. We are in the last quarter, it’s game on until the bell rings!
Stay tuned!
For updates
Official @kool8ear🐻 on Twitter
Happy Hunting!
🧭Blockchain Explorers 🧭
