The Implementation and Effect of the Ether Currency Fee System

by 99Crypto

Axie Infinity Real Estate Purchased for 550 Ether

NFTs are taking off. A piece of land inside the game Axie Infinity recently sold for 550 Ether. The rarest type of virtual real estate inside the game, known as Genesis, is just one small aspect of the game Axie Infinity. The main points of the game revolve around players collecting Pokemon-like creates to battle with other players. The game offers blockchain rewards to all players.

The developers of Axie Infinity stated they believe that the 550 Ether purchase, which amounts to over $2 million, is the biggest amount ever paid for a piece of digital real estate.

eToro plans to delist Cardano by 2022 for Users in US

Regulatory concerns have forced eToro to close off users in the United States from Cardano. The Cardano already in users' wallets will be listed as withdraw only beginning in 2022. Users will no longer be able to open new positions or stake Cardano. Cardano has never had any legal issues, but this move intends to make sure they don't see harsh regulations in the future.

Celsius's evaluation for Series B now stands at $3.5 billion following a $350 million expansion earlier this week. The CEO of Celsius said that his firm will continue to provide services across the entire crypto sector while talking about the company's growth potential. The company currently offers crypto mining kickbacks, DeFi services, and other popular blockchain services.

SHIB Investors Receive Scam Alert from Shiba Inu

A new scam is targeted customers who use Shiba Inu, a popular memecoin. Official social media accounts of Shiba Inu are being impersonated, tricking unknowing would-be investors into making fraudulent purchases. Shiba Inu sent out an alert telling their investors to be wary of direct messages on Telegram and Twitter.

ETH is Being Burned at a Fast Rate Since August

Ether recently implemented a fee system that works as a currency sink. Since implementation back in August over $4 billion worth of ETH has been burned. NFT marketplace OpenSea is responsible for a large portion of ETH that has recently been taken out of circulation. Data suggests that around 7.26 ETH is being burned per minute thanks to the fee system implemented by Ether.