Web3 on Fire: Is Twitter becoming a go-to crypto social media platform?

Good morning, frens.

The old year has not been easy, but in the face of difficulties and challenges, we have worked together to make it through. Now that 2023 is upon us, we all should stop for a moment and reflect on our journey and remember the good times.

No matter what happened in the past, it is time to look forward to a new year filled with hope, optimism, and of course, possibility. It is time to take the lessons you have learned from your experiences and use them to create a better life for yourself and your loved ones. We certainly have a lot of work to do, but it all starts with making sure we have the strength and courage to make positive changes!

Today we'll talk about Twitter's cashtags, top Solana NFT projects by volume bridging out to ETH, Manchester United allegedly stealing NFT designs, and how tough the market is to the crypto miners.

But let's get down to it:

Twitter adds BTC and ETH price indexes

Twitter is now taking leaps and bounds to become even more crypto-friendly. Recently, the company has introduced a new feature which makes it easier than ever for users to look up the current prices of Bitcoin (BTC) and Ether (ETH). Simply inserting their names or tickers into the search bar produces real-time results. With this user-friendly innovation, users can stay informed on crypto markets (at least to some extent) at all times.

Crypto and stock traders are celebrating the new feature that will not only save them time while trading, but also bring increased visibility to crypto and potentially draw in fresh blood into the market. Twitter under Elon is building a bridge linking traditional finance with crypto markets - this development serves as evidence for their commitment to this cause. But it remains to be seen how much further they can take it.

Top Solana NFT projects are planning to bridge out to Ethereum and Polygon

As the new year approaches, Solana-based NFT projects y00ts and DeGods are celebrating their plans to expand beyond 'up-and-comer' status and become some of the most sought after 'NFT Blue Chips'. You can almost feel the buzz building in anticipation of what these two projects are about to deliver.

The DeGods collection (currently has a 460.00 SOL ($5,221) floor price) will try to compete with Bored Ape Yacht Club, CryptoPunks, and other blue chip NFTs on Ethereum, meanwhile, y00ts (f.p 140 SOL ($1600) will try to take on Polygon.

All in all, it's a good decision for both projects. The Ethereum NFT landscape is an obvious destination for DeGods, and Polygon's low transaction costs should be attractive to the y00ts team. In addition, both teams have a chance to tap into a larger audience, which should translate to better sales results in the future.

Manchester United accused of copying another artist's artwork in their 'The Devils' NFT collection

Manchester United has been accused of exploiting the work of NFT artist DesLucrece without proper credit. What's even worse, the likeness between their two collections is astonishingly similar.

Twitter users compared Manchester United Football Club's official NFT collection, "The Devils," to DesLucrece's acclaimed Des Monsters series. It became evident that the two collections showcase nearly identical characters and designs. DesLucrece is an anonymous artist known for their vibant and lively animated monsters. Their collection has a starting price of 17.5 ETH (equivalent to $20,825) and can be found on OpenSea.

The two collections were both launched on Tezos, and though it is yet unclear how Manchester United will respond to these allegations, one thing remains certain - no form of artistry should be exploited. If these claims are proven to be true, this could be seen as a form of plagiarism and copyright infringement.

Research corner: Miners are having a tough time staying in profit

In spite of the dwindling profits from mining, the Bitcoin hash rate continues to climb to unprecedented heights - leaving many in the crypto community scratching their heads. With the bear market persisting, more and more odd events are becoming commonplace.

CryptoSlate's research has unveiled that the widely used Bitmain miners, Antminer S9 and Antminer S17, have seen their performance slide during recent months. Both machines had become unprofitable in May of this year despite a rapidly increasing global hash rate.

Furthermore, a comprehensive report by Hashrate Index has revealed that the best ASIC miners experienced an incredible 86.82% decrease in price since May 7th - their current value was only $15.71 per terahash as of December 25th. Mid-tier mining machines had it even worse - prices plummeted 89.36% from their peak of $96.24. This means that mining hardware is ultra-cheap right now.

As the mining industry is currently facing hardships, it's time for miners to consider looking into new techniques and approaches that can potentially help them stay afloat. Until they figure this out, miners can only look for other ways to stay profitable or cut costs.

The fun page: our weekly meme collection

That's all for now, frens.

We'll see you in the next year, where the possibilities are endless! Until then, stay safe and keep living your best life. Cheers!

Yours, The 🔥 Team

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