SOL Power
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Chart of the Day
Think ETH had a blast post-EIP-1559 upgrade? Take a look at Layer 1 projects’ parabolic rise — SOL, LUNA, and AVAX led the chart with stellar performances, each driven with an intriguing narrative. With its price more than doubled in August, SOL has begun to garner institutional interest, as evidenced by an inflow of $7.1 million last week, outranking every other digital asset. On the other hand, Ether’s relative underperformance against some of its strongest competitors is an inevitable result of its sheer market cap and liquidity, which may have shielded the token from aggressive price swings.
Talk of the Town
Credit, Crypto or NFT? Financial service giant Visa steps into the NFT craze with a single purchase of a digital avatar CryptoPunk, which is worth nearly $150,000 at the time of purchase. The arrival of yet another big name attracted a new heap of buyers and inspired a renewed round of frenzy: CryptoPunks’ entry price has soared through the roof within hours of the Visa announcement while setting the record of the highest transaction volume in a single day. Meanwhile, other Ethereum-based art squiggle projects, such as Art Blocks, have swiftly stacked up hundreds of millions of dollars in trade volume. Ain’t August just the month for NFT booms?