Amongst the top cryptocurrency news, last week was relevant to Blur. It was specifically about the company’s trading volumes.
Evidently, the volumes were quite high compared to Blur’s rival company – OpenSea. Something that people are curious about is the consequences of this activity.
Investors are wondering if this will be permanent or temporary. In addition to it, we will be observing a lot of news regarding the happenings around ETHDenver.
Stay tuned for the news by remaining alert about the happenings.
On top of it, the ex-CEO of FTX – Sam Bankman-Fried – continues to be trapped around the various possibilities of his bail conditions. There is a high chance of the deadline being extended to one more week.
Although, people are wondering about the ways he will move forward from his current situation.
Ambiguity Regarding Blur’s Trading Volume
As we mentioned before, the trading volumes of the marketplace – Blur – has increased by a large number.
Due to this, they gave competition to their rival marketplace – OpenSea. This is because Blur’s volumes were much higher than OpenSea’s.
During the past month, Blur was observed to be giving competition to OpenSea. Although, Blur was able to overtake OpenSea by the increase of their trading volumes.
These were more than 4x of OpenSea’s, as per research. According to a study, during the past week, Blur experienced an increase in volumes of about 62,351 Ethereum from 55k sales.
Up till now, Blur has been able to manage its trading volumes by approximately $1 billion in the current month. This is in comparison with its rival marketplace – OpenSea – which made around $240 million, as per research.
It is quite surprising to know that OpenSea is used by a higher number of crypto traders compared to Blur. Of course, Blur’s performance can be justified.
Amongst them is that their users could possibly be waiting for the airdrops, which will be given for loyalty to Blur. Due to this, users have most definitely begun to trade on it.
Furthermore, NFT holders are benefiting from higher liquidity which has increased the trading volumes. During the past week, some holders were able to withdraw around $10 million, i.e. about 6k ETH.
Though, people are confused about whether this situation will remain the same or not. It will be clear to people around the week after if it will or not, but it truly depends on possible airdrops.
Commencement of ETHDenver
The ETH meeting sessions of ETHDenver will be commencing this week. This will occur during the first week of March.
Pollack is a part of the senior management team at Coinbase. He will talk at the meeting regarding the situation. Also, he will have a few words regarding Base – the Layer 2 system.
Moreover, Rose is the engineering department’s head of ZkSync, and he will discuss the zkEVMs there. Apparently, these are consistent with ETH.
To add to the list is Obol Labs. They will further expound on their latest tech, which will be revealed soon to the masses. There will be several conversations regarding ETH, etc.
Sam Bankman-Fried to Discuss Bail Conditions
Sam Bankman-Fried is the ex-CEO of FTX. He has petitioned for an extension of the deadline in relevance to the bail conditions. This has occurred amidst certain skirmishes happening.
Apparently, the ex-CEO has asked for the deadline to be extended to the 3rd of March.
The arguments have occurred due to authorities wanting the court to limit the bail conditions in relevance to the accused’s VPN utilization.
The ex-CEO is currently looking for a person to illuminate the court regarding the technology he has used.
This will be followed by another request for altering the bail requirements. During the past week, he was accused of more illicit activities, such as fraudulent behavior. Apparently, he owes money to people.