Kevin O'Leary's predicts this about web3!

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- Hunter Maier

💰 Kevin O'Leary's predicts this about web3!

🎢 Ethereum's rollercoaster of price action!

👾 Axie Infinity's Sky Mavis to refund hacked victims!

• "MOAR" by Joan Cornella - Floor Price: .92 ETH

• Impostors Genesis Aliens - Floor Price: 2.421 ETH

• Shinsekai Portal - Floor Price: .468 ETH

• Arcade Land - Floor Price: .972

If you've been following Mr. Wonderful over the recent months, he's been quite open on his bullish outlook for the web3 ecosystem as a whole. Two Days ago, O'Leary was featured in an interview on Market Insider to share why and how he believes web3 technology intends to make waves in the coming years. 

Here's a bullet-point rundown of why he holds 32 positions within the digital asset sector:

• He expects the S&P 500's 12th sector to be driven by crypto and blockchain technology.

• He's bullish on the software behind Bitcoin, not the fact that it's a coin. Likewise, for other notable tokens such as Ethereum, Solana, etc.

• He promotes the idea of HEAVY diversification among web3/metaverse investments: two winners can fully offset ten losers.

• He believes the technology will become less expensive, faster, more transparent, and more auditable with time.

• He recently contributed to Polygon's $450M funding round as he believes in the tangible economic benefit of reducing gas fees.

• He's yet to invest in digital real estate, yet O'Leary claims he's interested.

There's a reason why Kevin O'Leary has a net worth estimated to be around $400,000...

Massive shoutout to Phil Rosen for the article!

Welp, so much for the upside rebound on Ethereum.

Yesterday Ethereum broke below its ascending triangle formation, indicating that we may see some further downside. Furthermore, Bitcoin hasn't been looking too hot either, as it similarly broke below its significant demand zone.

On the bright side, both Bitcoin and Ethereum remain green according to the MACD on the weekly time frame.

When will our beloved portfolios make a rebound? Only time will tell!

A few newsletters ago, I covered one of the largest known crypto hacks to date, as the hacker was able to scrounge up about $600M worth of ETH and USDC. 

A few newsletters ago, I covered one of the largest known cryptocurrency hacks to date, as the hacker was able to scrounge up about $600M worth of ETH and USDC.

A quick rundown of what occurred for those who need a refresher:

Sky Mavis, the team behind the play-to-earn game Axie Infinity, lost control of five of the company's nine validator nodes to a sophisticated hacker who became aware of two separate security breaches within Sky Mavis's network.

After careful consideration, the team at Sky Mavis has decided to repay anyone who was a victim of the attack. At the company's peak, Sky Mavis was worth around $3 Billion; a loss of $600M and scrounging up an additional $450M will be a major setback for the company's future.

Despite this, it's by far the right thing to do!

To help with the repayment, Sky Mavis opted for a financing round, raising an additional $150M.

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Nothing mentioned in this newsletter is financial advice, we are NOT financial advisors. NFToday was created with the intent to entertain those who choose to read and be a part of the community!