There is little doubt that Bitcoin will always dominate the market. However, some interesting and innovative developments are now being observed in layer-2 solutions, NFTs with utility, and DAOs.
Crypto-enthusiasts feel something interesting is going to happen. By now, traders are not surprised to see BTC doing its usual things. The digital currency is juggling between resistance and “key” support levels, as always.
Heads are turning to other alternatives
The long-awaited “moon” of Bitcoin relied upon the buy-in of institutional investors and breaking the earlier all-time high price of 19,000 USD. All that took place, but many investors did not believe even in their wildest dreams about its run to 64,900 USD. However, despite these developments, the situation of Bitcoin now feels boring and fairly predictable. After all, Bitcoin has always dominated the cryptocurrency market in terms of its market cap.
It is interesting to note that DAO (Decentralized Autonomous Organizations) and NFT (Nonfungible Tokens) are now extremely hot on the market. There is little wonder that traders and crypto-enthusiasts are glued to this networking, pondering and speculating about their performances. The most unique development in recent times is that the bottom-up building and the grassroots approach are resulting in some of the most interesting projects in this space.
Interested participants minted Loot for free instead of pursuing venture capital dollars and put together a few C-suite-friendly presentations, and placing a suit. These participants were ready to bear the cost of gas and the community attributed value to the Nonfungible Tokens through OpenSea sales.
