Day: May 12, 2021

NFT

Rare CryptoPunk NFTs Fetch Almost $17M at Christie’s Auction

Rare CryptoPunk NFTs Fetch Almost $17M at Christie’s Auction

Nine rare non-fungible token (NFT) digital collectibles known as CryptoPunks have sold for almost $17 million at physical auction house Christie’s, according to a Twitter announcement on Wednesday.

All nine CryptoPunks are among the first 1,000 minted in the early days of creator Larva Labs and fetched a total of $16,962,500.
The NFTs, taken from Larva Labs’ own collection, were part of the “21st Century Evening Sale” at Christie’s, the 255-year-old, U.K.-based auction house.

NFTs are blockchain-based tokens incorporating various attributes representing artwork or assets in the digital domain and can be used to verify proof of ownership.
In March, Christie’s sold an NFT representing digital artist Beeple’s work for a record $69 million.
The CryptoPunks sale highlights the continuing demand for digital art validated by blockchain technology.
On Wednesday, eCommerce company eBay announced it would allow the sale of NFTs on its platform including trading cards, images and video clips.

Ethereum Price to Hit $19,842 by 2025 According to 35 Experts

Ethereum Price to Hit $19,842 by 2025 According to 35 Experts

hirty-five experts have come together to predict the price of ethereum. On average, they expect the price of ether to hit $19,842 by 2025. The majority of panelists say now is the time to buy ethereum while 28% say to hodl.

Experts See Price of Ether Reaching Almost $20K by 2025
The “Finder Cryptocurrency Predictions 2021” which was updated Monday predicts that the price of ether will be nearly $20K by 2025 according to 35 experts on Finder’s cryptocurrency panel. The report says:

By 2025, the panel expects Ethereum to hit $19,842 on average.

The highest forecast came from Bitbull Capital COO Sarah Bergstrand who believes that the price of ether would be $100,000 by 2025. “We are likely to see major upgrades to the Ethereum network this year, and those can be expected to push the price higher,” she explained.

One of the most bearish forecasts came from UNSW associate professor Elvira Sojli who predicted that ETH will end 2025 at just $1,850.

The report continues:

The majority of panellists (59%) say now is the time to buy ethereum, while 28% say ‘hodl’ and 13% say it’s time to sell.

As for the price prediction for the year 2021, the report notes that the “Panellists predict that the price of Ethereum will hit $4,512 on average by the end of the year. That’s a 234% increase from December’s end-of-year prediction of $1,351.”

One of the highest forecasts came from YAP Global founder and CEO Samantha Yap who noted that the price of ether would be $10,000 at the end of this year, emphasizing that “once BTC is mass adopted, ETH will be next on people’s list.”

Paul Ennis, a lecturer and assistant professor at the University College of Dublin, arrived at the same forecast of $10K for ETH this year, “arguing ethereum is highly undervalued and has far more uses than bitcoin.”

LMAX Group’s cryptocurrency strategist, Joel Kruger, gave a more moderate forecast of $2,000. He is also convinced of “ethereum’s potential, viewing the currency as the major hub of innovation on the blockchain.” He described that “As crypto adoption continues, most of that innovation will therefore be hosted on Ethereum, which we expect will translate into a much higher valuation.”

The panelists include Bitriver CEO Igor Runets; Thomson Reuters technologist Joseph Raczynski; Okcoin COO Jason Lau; Etoro analyst and senior account manager Simon Peters; Consensys head economist Lex Sokolin; Coinmama CEO Sagi Bakshi; Unocoin CEO Sathvik Vishwanath; and Origin Protocol co-founder Josh Fraser.

Goldman Sachs executive quits after making millions from Dogecoin

Goldman Sachs executive quits after making millions from Dogecoin

A senior manager at Goldman Sachs in London has quit the US investment bank after making millions from investing in Dogecoin, the joke crypto asset which has risen by more than 1,000% in value this year.

City sources said Aziz McMahon, a managing director and head of emerging market sales, had resigned from the bank after making money from investing in the digital currency based on the Doge internet meme.

Backed by famous supporters including the Tesla founder, Elon Musk, the rapper Snoop Dogg and the Kiss bassist Gene Simmons, the digital asset similar to bitcoin has soared in value over recent months.

Based on an internet meme – a humorous online phrase or photo, on this occasion a dog called Doge – the cryptocurrency rose above $0.72 (£0.51) against the dollar last week in anticipation of Musk’s appearance on the hit US TV show Saturday Night Live.

It has plunged by more than 30% this week since Musk’s appearance to about $0.50, according to Coindesk. However, it is still up by more than 1,000% from the start of 2021.

Little is known about how much money McMahon made exactly from betting on Dogecoin, after his departure was first reported by the website efinancialcareers. The banker, who has worked for Goldman Sachs for 14 years, did not respond to requests for comment. However, sources said they believed it was a substantial sum and that he had since left Goldman Sachs.

It is believed Aziz made the money investing on his own personal account and was not involved in trading cryptocurrencies for Goldman Sachs.