Metaplex to Release Utility Token

Solana-based NFTs are on the rise, and emerging projects like yoots and ABC are competing with the NFT overlord Ethereum.

Solana’s NFT protocol “Metaplex” made headlines for announcing plans to release MPLX tokens and build “the most comprehensive DAO on the web3.” Solana NFT creators using the Metaplex protocol to date (except those residing in the US) will receive tokens that will be airdropped later today.

The utility token will allow holders to vote on governance proposals and steer the direction of the NFT protocol through the Metaplex DAO.

ethereum proof of stake change in active validators

Cryptocurrency markets rose along with U.S. stocks, continuing their gains until the close of trading in New York.

At the time of writing, BTC is trading above $19,000 after gaining 2.75% over the past 24 hours.

Further gains from here must break above the 100 hourly SMA and resistance near $19,600. If the breakout fails, a drop to $18,200-18,800 is possible.

Ethereum is trading above $1,300 after gaining 5% in the past 24 hours.

To enter a further uptrend from here, the price must overcome the $1,380-$1,400 resistance level, but if it breaks out cleanly, the upward momentum will gain further.

On the other hand, the issuance of ETH after the merger has also decreased significantly, from 12,000 ETH per day before the merger to less than 1,000 ETH per day.

However, it is too early to call Ethereum a deflationary asset, as the volume of burns that depend on on-chain transaction volume has not yet caught up with the volume of issuance.

The number of active validators has also increased compared to September but remains low compared to the most active period in 2021.

Most major altcoins have seen gains in the past 24 hours, with ALGO and APE leading the way with double-digit gains.

Go to Bybit’s Official Website