Chain News by Thebittimes.Com

The purchase was funded from a digital wallet, which has been a part of the chain of transactions, anonymized by the Ethereum coin mixing service Tornado Cash One of the CrypToadz non-fungible tokens (NFTs), whose average price doesn’t exceed $1000, was bought for an astonishing 1,055 Wrapped Ethereum (WETH), an equivalent to $1.6 million.  The deal occurred on the OpenSea market on Oct. 9. The NFT represents “a small, warty, amphibious creature,” one of the 6969 units minted by the pseudonymous digital artist Gremplin. The CrypToadz collection was launched during the NFTs boom in 2021 and surpassed a trading volume of 12,000 ETH ($38 million ) during its first ten days on the market. The purchasing wallet was funded by a wallet that has been pulling money out of Tornado Cashhttps://t.co/nNhKvSVhoz pic.twitter.com/aInHO8vNyG — TexasHedge (@0xTexasHedge) October 9, 2023 However, the price paid by the anonymous user for the NFT raised questions among the community. Two weeks ago...

The Ordinals hype is real with the NFT inscriptions now regularly taking over 50% of Bitcoin block space. Bitcoin (BTC) miners have earned nearly $600,000 in two months from a new controversial NFT protocol called Ordinals that has triggered a surge in user activity. What are Bitcoin Ordinals?  Ordinals allow users to inscribe data in the form of images and other media types in newly mined blocks on the Bitcoin blockchain that's otherwise largely used for peer-to-peer monetary transaction s.  Fee spent on inscribing Ordinal NFTs on the Bitcoin blockchain. Source: Dune Analytics Since the launch of Ordinals in mid-December, however, users have inscribed n early 74,000 NFTs into the Bitcoin blockchain, earning miner s a cumulative $574,000 in BTC transaction fees to date, data from Dune Analytics shows. These NFTs include "digital artifacts" stemming from the derivative projects of Ethereum's CryptoPunks and Bored Ape Yacht Club collection in February. The NFT commun...