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Twitter is the undisputed watering hole of the crypto industry, and something pops up on our feeds that propels the industry along each week. Here's our handy roundup of the tweets that made waves this week.
On Monday, a picture Elon Musk posted of his dog is believed to have contributed to the 266% surge of meme coin Shiba Inu (SHIB).
Although some argue that the association is hard to quantify, the coin set new highs for daily trading volumesâ$20 billion on Thursdayâmaking it one of the most traded currencies after Bitcoin, Ethereum, and Tether. It also sent SHIB to the No. 12 spot among all cryptocurrencies by market cap.
Floki Frunkpuppy pic.twitter.com/xAr8T0Jfdf
â Elon Musk (@elonmusk) October 4, 2021
On Tuesday, Republican Patrick McHenry introduced the Clarity for Digital Tokens Act, a bill that clears up ambiguities in the SECâs two-year-old framework for determining whether cryptocurrencies constitute securities.
McHenryâs legislation is based on SEC Commissioner Hester Peirce's proposal for a safe harbor for new cryptocurrency projects, which would provide DeFi developers with a three-year grace period in which to decentralize.Â
The updated regulatory framework aims to help American DeFi developers innovate without fear of violating securities laws, whilst simultaneously protecting investors.Â
On the same day, Bankless launched its âState of the DAOsâ newsletter, a comprehensive overview and continued guideline to help break down the ins and outs of Decentralised Autonomous Organisations.
Bankless DAO just launched its first State of the DAOs newsletter, the high-signal low-noise newsletter for understanding DAOs.
Read the TL;DR below https://t.co/HFPIaQ6YZW
Thanks to @scottykETH, @frogmonkee, @0xSiddhearta, and @WPeaster for their efforts
â Bankless DAO (@banklessDAO) October 6, 2021
On Wednesday, NFT collector âCozomo deâMediciâ (an identity that Snoop Dogg claimed on September 20) released an intriguingly ambiguous tweet alluding to a âgrand awakeningâ for the art industry.Â
He was talking about the success of Justin Aversanoâs Twin Flames NFT and emerging developments within NFT photography. According to Cozomo, NFT photos are just as exciting as other digital artworks.Â
Twin Flames is considered the definitive "OG" of NFT photography.
Created by @justinaversano, it is a moving collection of photos of twins, doing what they love. pic.twitter.com/Nk9WNRsRha
â Cozomo deâ Medici (@CozomoMedici) October 6, 2021
The revered co-creator of Nouns DAO, the pseudonymous Evil King Gremplin, had welcomed Snoop to the rapidly growing CrypToadz community a day earlier. Sales for rarer toads, like #1519, have surpassed 400 ETH ($1.4 million).Â
If all that wasnât enough from Snoop, he also declaredâfrom his Cozomo de Medici accountâhis view that spamming celeb Ethereum wallets with uninvited NFTs is âan insult to artists.â
welcome to the swamp Snoop <3 pic.twitter.com/5TbGuy2pVH
â gremplin.eth (@supergremplin) October 4, 2021
On Thursday, Bitcoin reached highs of $55,000, breaking past a market cap of $1 trillion, making Bitcoinâs worth larger than two of the largest banks in America combined, JPMorgan Chase and Bank of America, as the mega-popular "Documenting Bitcoin" account pointed out. Bitcoin is currently holding at around $55,144.
#Bitcoin is now worth more than the two largest banks in the United States, J.P. Morgan and Bank of America, combined.
â Documenting Bitcoin (@DocumentingBTC) October 5, 2021
In a similar vein, the official account of markets tracker TradingView pointed out Bitcoin's market cap currently beats out Facebookâa timely poke at the social media giant after it suffered two outages this week, which led many on Crypto Twitter to point out the need for decentralized social media apps.
Bitcoin $BTC market cap: $1 trillion
Facebook $FB market cap: $941 billion
â TradingView (@tradingview) October 9, 2021
On Friday, the Ethereum Name Service announced a feature that allows users to upload NFT avatars to their ENS profile pictures. This new integration, supported by Uniswap and 1inch, helps provide further customization and serves as a step forward for unique Web 3.0 identities. Twitter is exploring a feature to verify NFT profile pictures.
Weâre pleased to announce ENS now supports NFT avatars for your ENS profile!
At launch, this is supported by @Uniswap and @1inch, with more to come soon
This is an important step to a user-controlled portable web3 identity
Blog or for more https://t.co/mwSY2qRt9p
1/â Ethereum Name Service | ens.eth (@ensdomains) October 8, 2021
On the same day, Sothebyâs announced its second installment of #NativelyDigital. The upcoming auction was curated by 19 collectors across 53 NFT lots. Collectors selling NFTs include CatDad, Paris Hilton and Steve Aoki.Â
#NativelyDigital is back!
Sothebyâs is proud to welcome our second dedicated NFT sale - 'Natively Digital 1.2: The Collectors.' pic.twitter.com/izl1BPZJuc
â Sotheby's (@Sothebys) October 7, 2021
And on Friday night, the Bored Ape Yacht Club confirmed that it would release an ERC-20 in the first quarter of next year. Although releasing an ERC-20 token takes just minutes to do, it said that working around regulation requires much more consideration.
Good evening, apes. Been hearing a question around the club a lot:
Wen token indeed . . . Some thoughts below.
â Bored Ape Yacht Club (@BoredApeYC) October 8, 2021
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