NFT Marketplace Looks Rare

LooksRare, a recently launched nonfungible token (NFT) marketplace, has stated that it intends to index all NFT collections on the Ethereum blockchain. The site went live with a token airdrop.

According to its blog announcement, the looks are a team tired of the de-platforming of creators and the decision-makers who value business over the community, seeking IPO instead of benefiting the communities that got them there.

Their apparent solution is to provide a marketplace that rewards platform participants and creators. Users who buy or sell NFTs from eligible collections can earn LOOKS tokens, the native utility of the platform. Furthermore, the platform charges a standard fee of 2% on all NFT trades, lower than OpenSea’s 2.5 percent paid by LOOKS token holders. Users can also trade NFTs for Ether or wrapped ether.

Bitcoin Rebounds to $42K

Yesterday was a fierce day, marked by a significant drop in the price of the leading cryptocurrency. Surprisingly, the daily candle opened and closed simultaneously, indicating a 0.07 percent decrease.

However, according to Bitstamp, the price opened at $41,850, peaked at $42,250, and bottomed at $39,558. The latter represents the lowest level since September 21st, 2021.

It’s worth noting that Bitcoin only spent a few minutes below $40K before bids fill, catapulting the price back above the critical level. At the time of writing, BTC is trading around $42K, having previously touched $42.6K. It’s also worth noting that we’ve seen around $350 million in liquidated long and short positions in the last 24 hours, indicating the extreme volatility. Traditional markets were no exception, as most market-leading indexes, including the S&P 500, opened in the red as well.

There are, of course, some exceptions. Despite experiencing some volatility, NEAR Protocol is up 13% in the last day, making it the biggest gainer among the top 100. On the other hand, Olympus’ OHM is down nearly 30%, making it the coin that has lost the most.

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