16th Edition

This week in The Flippening, TL;DR

Bitcoin’s biggest upgrade in 4 years just went live. $700 million dollar to rename the Staples Center in Los Angeles with a cryptocurrency exchange. No single entity can own the metaverse, says CEO of a popular game. Coin of the week, high demand Coin Sets, market performance, memes and more.

Top Highlights of the Week (ending 12th Nov)

Taproot: biggest upgrade to the Bitcoin network in 4 years just went live

The Taproot upgrade for BTC would allow smart contracts to be run efficiently and cheaply! As of now, smart contracts are usually run on the Ethereum network because of the higher efficiency. Followers of the largest cryptocurrency believe that with the Taproot upgrade, Bitcoin has the potential to elevate itself and integrate with mainstream finance.
It is a rare moment of consensus among stakeholders, and it’s a big deal for the world’s most popular cryptocurrency.

What’s in a name? A $700 million deal, perhaps!

Crypto.com is set to pay a staggering $700 million to gain the naming rights to the Staples Center in Los Angeles.

The Staples Center is home to both the Lakers and the Clippers. Crypto.com has obtained the rights for the next 20 years.

Although mind-boggling, this is indeed great news for the crypto community as a whole. Renaming a massively popular arena with the name of a cryptocurrency exchange creates a retention effect on the minds of millions of people visiting the arena every year.

No company can own the metaverse!

Metaverse, or as some call it internet 3.0, is a place where people can do real life things — like work out, meet with colleagues, or take a class — but all online and in virtual reality.

Metaverse has gotten a massive attention lately on the back of Facebook’s rebranding to Meta.

Fortnite creator Epic Games similarly sees huge opportunity in the space, but its CEO, Tim Sweeney, isn’t aiming to single handedly rule the metaverse.

Other Highlights:

• US President Biden signed the $1 trillion infrastructure bill turning it into law: Read it here
• Billionaire Winklevoss twins led exchange raises another $400 million: Read it here
• Crypto Could Undermine the Dollar and Destabilize Nations: Hillary Clinton: Read it here
• NFT sales boom, but ownership is highly concentrated: Read it here

Market Performance Overview

This remained a massively volatile week for the entire cryptocurrency market. Bitcoin saw its price dropping below the $56,000 mark, initiating a sell-off across the spectrum. Among the top 30 cryptos by market cap, Avalanche (AVAX), Decentraland (MANA) and Crypto.com native coin (CRO) ended the week on a positive note. The total market cap hovered around the 2.54 Trillion mark.

This week saw the cryptocurrency market correct a bit and brought a halt to the rally. All the top sectors dropped nearly 10% or more. Market corrections are always a good opportunity to invest in sectors that you have a strong conviction in. A lot of Mudrex Coin Sets are created based on the emerging sectors & projects in Blockchain tech. You should definitely check them out, if not done already!

Coin of the week

Render token: $RNDR

RenderToken (RNDR) is a distributed GPU rendering network built on top of the Ethereum blockchain, aiming to connect artists and studios in need of GPU compute power with mining partners willing to rent their GPU capabilities out.
Over the past couple of weeks this token has received enormous support from its community, which is growing at an enormous pace. The attention in Metaverse has fuelled the rise of the RNDR token as well.

Featured - Mudrex Coin Sets in high demand

Mudrex Coin Sets are expert curated baskets of cryptocurrencies that revolve around one idea. It helps investors ride the gains across different tokens and eliminate the hassle of picking one token and missing the gains on a similar crypto. If there is an idea you strongly believe would do well, we most likely have a Coin Set for the same.
Metaverse: This Coin Set comprises the top projects working on creating the metaverse- or the internet 3.0 as some fondly call it! ‍

Mudrex Coin Sets- NFT Gaming: This Coin Set is among the latest additions to our existing ones and has gained a massive following in a short span. It contains the top projects in the NFT gaming space

Invest in Coin Sets

Here we are, at the end of our 16th edition. We hope you liked reading it. Please write back with your feedback, comments, and stuff that you’d like us to include in the newsletter.

We end with a perspective that describes the ups and downs of the crypto universe. Amateurs check price charts every night and have nightmares, some fret about yearly performance, pros know that crypto is here to stay for the long term.