Home / Forex News /JPMorgan CEO Says BTC Is Fraudulent, A 'Pet Rock;' Bank Of America Says CBDCs Are 'Natural Evolution' — Bitcoin.com News Week In Review

JPMorgan CEO Says BTC Is Fraudulent, A 'Pet Rock;' Bank Of America Says CBDCs Are 'Natural Evolution' — Bitcoin.com News Week In Review

29 Jan 2023

Non-fungible token (NFT) assets have existed since at least 2014, but interest in them began to rise in January 2021, according to Google Trends data. Approximately one year later, the search term “NFT” reached its highest score on Google Trends. During that time the top five NFT collections, in terms of all-time sales volume, have collectively accrued $12.7 billion in sales volume.

Two years ago, the search query “NFT” first appeared on Google Trends (GT), reaching a score of 1 out of 100 in the first month of 2021. Before that time, GT data shows little to no interest in NFTs, despite their existence since 2014. A year later, NFTs were quite popular and the search query reached a score of 100 as searches for the term skyrocketed. Another year later, interest in NFTs has decreased significantly, with the search query reaching a score of 11 out of 100 during the week of January 22-28, 2023.

As January 2023 ends, metrics indicate that the top five NFT collections by all-time sales volume have recorded a total of $12.7 billion in sales volume since they began receiving significant attention. According to data from dappradar.com, the leader in NFT sales volume over the last two years is Axie Infinity, which has amassed $4.27 billion in sales volume. On January 28, 2023, dappradar.com reports that Axie Infinity’s market capitalization was $1.37 million. The website explains that “market capitalization is equal to the floor price multiplied by the collection total supply.”

Cryptopunks follows Axie Infinity in overall sales volume, having accumulated $3.02 billion in all-time sales volume. Its current market valuation is larger than Axie’s market capitalization, at $1.04 billion. According to data, 7,503 traders have traded Cryptopunks NFTs in 23,259 sales. Next in the top collections is Bored Ape Yacht Club (BAYC), with $2.39 billion in all-time sales volume. BAYC has recorded 31,225 sales among 15,176 traders. Its current market capitalization is slightly lower than Cryptopunk’s, at $1.02 billion.

The fourth largest NFT collection in terms of all-time sales is Mutant Ape Yacht Club, with $1.66 billion. Mutant Ape Yacht Club (MAYC) has an overall market capitalization of around $427 million, and 47,744 sales have been recorded among 30,475 MAYC traders. The fifth-largest NFT collection in terms of all-time sales is Artblocks, with $1.36 billion in global sales volume. Its current market capitalization is around $143 million, and the project has seen 227,294 sales recorded among 54,842 traders. While all five NFT collections have amassed $12.7 billion in sales volume, their collective value is around $2.619 billion.

What do you think about the five NFT projects that have collectively recorded $12.7 billion in all-time sales? Let us know your thoughts about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year

The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.

Non-fungible token (NFT) assets have existed since at least 2014, but interest in them began to rise in January 2021, according to Google Trends data. Approximately one year later, the search term “NFT” reached its highest score on Google Trends. During that time the top five NFT collections, in terms of all-time sales volume, have collectively accrued $12.7 billion in sales volume.

Two years ago, the search query “NFT” first appeared on Google Trends (GT), reaching a score of 1 out of 100 in the first month of 2021. Before that time, GT data shows little to no interest in NFTs, despite their existence since 2014. A year later, NFTs were quite popular and the search query reached a score of 100 as searches for the term skyrocketed. Another year later, interest in NFTs has decreased significantly, with the search query reaching a score of 11 out of 100 during the week of January 22-28, 2023.

As January 2023 ends, metrics indicate that the top five NFT collections by all-time sales volume have recorded a total of $12.7 billion in sales volume since they began receiving significant attention. According to data from dappradar.com, the leader in NFT sales volume over the last two years is Axie Infinity, which has amassed $4.27 billion in sales volume. On January 28, 2023, dappradar.com reports that Axie Infinity’s market capitalization was $1.37 million. The website explains that “market capitalization is equal to the floor price multiplied by the collection total supply.”

Cryptopunks follows Axie Infinity in overall sales volume, having accumulated $3.02 billion in all-time sales volume. Its current market valuation is larger than Axie’s market capitalization, at $1.04 billion. According to data, 7,503 traders have traded Cryptopunks NFTs in 23,259 sales. Next in the top collections is Bored Ape Yacht Club (BAYC), with $2.39 billion in all-time sales volume. BAYC has recorded 31,225 sales among 15,176 traders. Its current market capitalization is slightly lower than Cryptopunk’s, at $1.02 billion.

The fourth largest NFT collection in terms of all-time sales is Mutant Ape Yacht Club, with $1.66 billion. Mutant Ape Yacht Club (MAYC) has an overall market capitalization of around $427 million, and 47,744 sales have been recorded among 30,475 MAYC traders. The fifth-largest NFT collection in terms of all-time sales is Artblocks, with $1.36 billion in global sales volume. Its current market capitalization is around $143 million, and the project has seen 227,294 sales recorded among 54,842 traders. While all five NFT collections have amassed $12.7 billion in sales volume, their collective value is around $2.619 billion.

What do you think about the five NFT projects that have collectively recorded $12.7 billion in all-time sales? Let us know your thoughts about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year

The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.

JPMorgan CEO Jamie Dimon has reiterated his supposed skepticism of bitcoin, recently calling it a “hyped-up fraud,” and a “pet rock.” For it’s part, Bank of America has said that it views central bank digital currencies (CBDCs) and stablecoins as a “natural evolution of today’s monetary and payment systems.” This and more on inflation and the U.S. Federal Reserve’s next moves, just below.

JPMorgan CEO Says BTC Is Fraudulent, a 'Pet Rock'; Bank of America Says CBDCs Are 'Natural Evolution' — Bitcoin.com News Week in Review

JPMorgan Chase CEO Jamie Dimon calls bitcoin “a hyped-up fraud.” The executive questioned the cryptocurrency’s supply cap, expecting a picture of bitcoin’s pseudonymous creator Satoshi Nakamoto to pop up and laugh at us all when bitcoin’s supply hits 21 million coins.

Read More

JPMorgan CEO Says BTC Is Fraudulent, a 'Pet Rock'; Bank of America Says CBDCs Are 'Natural Evolution' — Bitcoin.com News Week in Review

Morgan Stanley CEO James Gorman says two changes have happened recently that “really matter” to the economy. The executive explained that inflation has clearly peaked and China has made a “major, major pivot” economically.

Read More

JPMorgan CEO Says BTC Is Fraudulent, a 'Pet Rock'; Bank of America Says CBDCs Are 'Natural Evolution' — Bitcoin.com News Week in Review

Bank of America says “digital currencies appear inevitable,” adding that central bank digital currencies (CBDCs) and stablecoins are “a natural evolution of today’s monetary and payment systems.” The bank expects “private sector beneficiaries to emerge in all phases of CBDC implementation.”

Read More

JPMorgan CEO Says BTC Is Fraudulent, a 'Pet Rock'; Bank of America Says CBDCs Are 'Natural Evolution' — Bitcoin.com News Week in Review

Equities, precious metals, and cryptocurrencies have been on a tear during the last few weeks of 2023, and all eyes are now focused on the next Federal Open Market Committee (FOMC) meeting. Federal Reserve governor Christopher Waller recently said that he favors a quarter-point benchmark rate increase at the next FOMC meeting. Analysts believe that current market trajectories will be dependent on the outcome of the next Fed meeting.

Read More

What are your thoughts on this week’s stories? Let us know in the comments section below.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework

Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)'s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.

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