NiftyNoon: Will PayPal's Stablecoin Ignite the Next Crypto Bull Market?
PYUSD's introduction has large implications for the future of crypto (August 8, 2023)
Nifty Thought
PayPal’s announcement of its PYUSD stablecoin is deeply exciting for many people in the world crypto. Some crypto enthusiasts have taken to Twitter to criticize the token’s smart contract with concerns over functionality and centralization. While these points are largely valid, they should not take away from the simple fact that a huge company that helped pave the way for both web 1.0 and web 2.0 has introduced another crypto product.
Stablecoins are not typically viewed as exciting but they inherently hold much appeal to mainstream audiences, particularly those within PayPal’s core userbase that simply wish to transact efficiently with a fiat currency. Only time will tell how PYUSD fares in the long run. However, the mere introduction of the token is a strong sign for the future of the crypto space overall.
Highlighted News
PayPal unveils a new stablecoin, PayPal USD (PYUSD):
Despite low volumes, unique buyers of NFTs actually have been gradually rising over the past week:
Project and Community News
PayPal stablecoin could have been epic, but it feels rushed:
https://twitter.com/PatrickAlphaC/status/1688606058476904449
User claims he noticed a fatal flaw in the logic of Paypal's stablecoin:
https://twitter.com/poppunkonchain/status/1688631591797473280?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
PROOF shares Grails minting window has opened:
https://twitter.com/proof_xyz/status/1688578918159351808?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Frank DeGods shares history of degods & y00ts from his perspective:
USDT peg is off by the deepest sustained amount since the FTX fall out:
@franklinisbored addresses allegations that he bot his posts:
https://twitter.com/franklinisbored/status/1688679790998425601
Pudgy Penguins “Left Facing” collectible releases tomorrow, August 8, at 9:45pm EST:
https://twitter.com/pudgypenguins/status/1688698526727868416
Squishmallows x VeeFriends available now :
Erick Calderon shares Ted Tech conference has been postponed:
https://twitter.com/ArtOnBlockchain/status/1688584823009394688
Sam Spratt tweets about The Monument Game, a 1/1 most intricate piece he has ever made:
https://twitter.com/samspratt/status/1688599632715124738?s=46&t=G1_hu2XKbW7Dm_OIPuGvSw
Doodles 2G x Doodles pop up event August 11-13:
Quick Stats:
Blur ETH Daily Volume: 3,270 ETH (▲ 29.87%)
OpenSea ETH Daily Volume: 1,250 ETH (▼ 9.09%)
BTC: $29,162.27 (▲ 0.50%)
ETH: $1,828.69 (▼ 0.20%)
Solana: $23.24 (▲ 0.66%)
Polygon: $0.67 (▼ 0.34%)
NFT Daily Winners:
🌈 Doodles: 1.60 ETH (▲ 4.02%)
🧟 Mutant Ape Yacht Club: 5.81 ETH (▲ 3.03%)
🦉 Moonbirds: 1.60 ETH (▲ 2.57%)
🏴☠️ Captainz: 4.60 ETH (▲ 2.45%)
🦧 Bored Ape Yacht Club: 29.35 ETH (▲ 0.65%)
🏳️🌈 Chromie Squiggles: 10.49 ETH (► 0.00%)
NFT Daily Losers:
⛰️ Otherdeeds: 0.60 ETH (▼ 0.12%)
⛩️ Azuki: 4.89 ETH (▼ 0.12%)
🐧 Pudgy Penguins: 4.14 ETH (▼ 0.41%)
🚬 CryptoPunks: 47.50 ETH (▼ 0.84%)
🐈⬛ VeeFriends: 1.81 ETH (▼ 1.09%)
🧬 Clone X: 1.47 ETH (▼ 1.34%)
👩🏻 Milady Maker: 3.43 ETH (▼ 2.47%)
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