Last Week On Sunday – Solana Ousts Cardano
Every week on Sunday, we will be going over some of the good, the bad, and the funny things the CRU News Desk came across during the week.
For last week’s, click here.
Week In Review: Solana Ousts Cardano
There are three things you can rely on in life: death, taxes, and a new top three cryptocurrency in terms of total market cap.
Bitcoin and Ethereum are pretty settled into their spots up at the top, but number 3 always seems to go to the hot hand. This year alone we’ve seen Binance Coin, Cardano, and USDT all lose their grip on the spot, and then come back eventually. Only XRP managed to briefly squeak into number 3 back in March, only to not return again.
However, there might be a new member of the rotating crew pretty soon: Solana.
Solana just overtook Cardano this week for the first time. The Sam Bankman-Fried backed smart contract protocol is up another 30% the last seven days. It’s been doing so well it’s not even worth reporting on its latest all-time high.
Solana is about 35 billion away from number three Binance Coin (BNB). BNB is surging itself, up 30% as well. It’s worth monitoring how the race for number three will play out in the upcoming weeks.
The Good
BREAKING: SEC told to approve spot #Bitcoin ETF by 2 US Congressmen.
Do it!
— Bitcoin Archive (@BTC_Archive) November 3, 2021
The blockchain caucus is at it again. This time penning an open letter to Gary Gensler asking for a Bitcoin Spot ETF. Why the US still doesn’t have one when countries fiscally responsible countries like Canada and Australia already have them is odd.
The charts these days are sending some posivibes for Bitcoin and crypto in general. Bitcoin has some room to run. Not to mention, we are looking at a 10 trillion dollar market cap. Tons of room for coins 2x and 3x under that outlook.
The Bad
I wonder how many Crypto Bros are mad at EA for jinxing it with their "NFTs are the future" statement…#FizzVsGaming
— Michael Scally (@FizzVsTheWorld) November 7, 2021
Is it just me or does it seem like things have been quiet lately? You’d think with Bitcoin entrenched above 60k things would be getting wild already. Back earlier this year, it felt like the news cycle was just churning out positive story after positive story when Bitcoin was reaching its new highs from January till April.
Even really supposedly bad stories like the infrastructure bill finally getting to Biden’s desk isn’t really moving the needle either way.
Not that this would move the needle much, but it’s a bad story nonetheless. EA is looking to get into crypto gaming. EA is the company that inspired an entire cottage industry of Madden haters. You can make a living criticizing that game online these days.
The Funny
I did it. I'm now officially in the @BoredApeYC Beenie gang pic.twitter.com/epqr7Go6h4
— Andy Milonakis (@andymilonakis) November 6, 2021
Andy Milonakis announced this week he now owns a Crypto Punk and a Bored Ape Yacht Club (BAYC) NFT. I’m surprised things have worked out as well as they for Milonakis. Floor price for BAYC is currently 32.4 ETH. That’s about $150k for the cheapest. Crypto Punks have no floor price because not enough of them are even listed for sale.
Some child old enough to attend the University of British Columbia (UBC) apparently lost all of his college tuition shorting Ethereum. He appealed to UBC’s Reddit for help. One kind Redditor told him: “Post your loss p**n on WSB and apply to Wendy’s.”
Lastly, the Pompliano v. Bitboy debate reminded me of this South Park Episode…
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Text source: CryptosRus
