The global crypto market cap is $2.58T 1.20%▼ with a 24-hour market volume of $134.59B 7.58%▲. Bitcoin's dominance is currently 41.97% 0.32%▲. CURRENT PRICES BY MARKET CAP | # | Name | Price | 24h % | | 1 | Bitcoin BTC | $57,758.17 | 0.06% ▲ | | 2 | Ethereum ETH | $4,307.42 | 1.46% ▼ | | 3 | Binance Coin BNB | $597.15 | 0.72% ▲ | | 4 | Solana SOL | $209.32 | 5.69% ▼ | | 5 | Cardano ADA | $1.69 | 3.52%▼ | Source: CoinMarketCap, 7:30 EST
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 Cardano (ADA) developer Input Output (IOHK) announced new network adjustments for Cardano’s Basho phase. The Basho phase aims to optimize and scale the network following its recent smart contract compatible upgrade, Alonzo. More: - According to an IOHK blog post, the team plans to increase Cardano’s block size and Plutus memory limits by 12.5%.
- Increasing the block size up to 72KB will enable faster transaction processing and greater data throughput on the network.
- The move to great transaction capacity and speed comes as Cardano prepares for DApp functionality on the blockchain.
- The update is expected to be implemented on the testnet starting tomorrow and on the mainnet sometime around Dec. 1.
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TOP NFT COLLECTIONS | # | Name | 24h Volume | 24h % | | 1 | Axie Infinity ETH, RONIN | $33.65M | 122.76% ▲ | | 2 | The Sandbox ETH | $20.56M | 11.68% ▼ | | 3 | CryptoPunks ETH | $11.87M | 38.25% ▲ | | 4 | Feudalz ETH | $7.48M | 16.34% ▼ | | 5 | Noundles ETH | $4.49M | - | Source: DappRadar, 7:30 pm EST
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 Coinbase acquired crypto wallet developer BRD. Coinbase stated that it will use the BRD team to accelerate Coinbase Wallet’s web3 adoption. More: - Current BRD wallet users will be given the option to migrate to Coinbase Wallet sometime in 2022.
- BRD’s utility and reward token, Bread (BRD), spiked 500% to $0.96 following the announcement.
- It is unclear at this time how the acquisition will affect the continued use of BRD tokens at Coinbase.
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 🍋Fresh Funding🍋 Avocado Guild, GameFi/Guild: $18M ⮕ The Series A funding round was led by Animoca Brands and QCP Soteria Node, with participation from Solana Ventures, Three Arrows Capital, Polygon Studios, and others. More: - The funding round was heavily oversubscribed, with Avocado’s pitch deck showing that it only planned to raise up to $8M.
- Blockchain gaming (GameFi) Guilds are groups that rent out in-game items to play-to-earn players in exchange for a percentage of their rewards.
- Avocado has already reached a valuation of $200M within its first six months of operations.
- The startup is currently transitioning to AvocadoDAO and plans to use its funding to help accelerate its token system and governance development.
Infinite Launch, DeFi/Launchpad: $2.2M ⮕ The funding round was participated in by IBA, Everse Capital, Lotus Capital, Phoenix Newtribe, and others. More: - The Infinite Launch platform is a cross-chain, initial decentralized exchange offering (IDO) ecosystem for DeFi and NFT projects.
- The platform’s native currency, ILA, will have a public sale of 10 million ILA tokens on Nov. 25 at 5 a.m. UTC (midnight EST).
- Infinite Launch’s “Diamond-hand mechanism” creates a reward structure for early IDO participants locking their tokens for set periods of time.
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▲ TOP GAINERS | # | Name | Price | 24h % | | 1 | Gala GALA | $0.5677 | 50.37% ▲ | | 2 | The Sandbox SAND | $7.26 | 35.75% ▲ | | 3 | BORA BORA | $1.59 | 35.44% ▲ | | 4 | Decentraland MANA | $5.10 | 28.76% ▲ | | 5 | WAX WAXP | $0.9492 | 21.88% ▲ | ▼ TOP LOSERS | # | Name | Price | 24h % | | 1 | Amp AMP | $0.05926 | 17.46%▼ | | 2 | Audius AUDIO | $2.60 | 12.27%▼ | | 3 | Oasis Network ROSE | $0.3882 | 9.92%▼ | | 4 | Terra LUNA | $39.09 | 8.45%▼ | | 5 | Voyager Token VGX | $4.38 | 8.32%▼ | Source: CoinMarketCap, 7:30 EST
*Limited to cryptocurrencies in the Top 100
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 Floki Inu (FLOKI) has been on a marketing blitz recently. While the promise of the "next Dogecoin" may be an obvious red flag for you, it may not be to others. What is FLOKI? - Self-described "not a meme coin. IT'S A MOVEMENT" is an ERC-20 and BEP-20 token transferable on the Ethereum and Binance Smart Chain networks.
- Floki Inu derived its name from Elon Musk's Shiba Inu, Floki, despite having no affiliation with the Tesla founder or his dog.
- Besides its namesake token, Floki Inu allegedly is developing a DeFi platform, metaverse/web3 play-to-earn game, and a collection of NFTs.
Partnerships and Advertising - Floki is able to raise money for large sponsorship deals and influencer partnerships because the project takes a 3% marketing fee for buying and selling the token.
- Floki Inu has reportedly signed three sponsorship deals with soccer teams in some of the most popular leagues. These deals include:
- Kerala Blasters FC, India (ISL): 2021-22 season jersey sponsorship.
- Cádiz FC, Spain (La Liga): 2021-22 season jersey sponsorship and promo assets.
- SSC Napoli, Italy (Serie A): Stadium and jersey sponsorship.
- Floki is currently under investigation by the UK's Advertising Standards Authority (ASA) after it posted ads across London's transit terminals stating, "Missed DOGE? Get FLOKI."
Why am I taking the time to write about this? Typically I stay away from writing about cryptocurrency projects that focus solely on marketing efforts and FOMO to build credibility. I stay even further away from Shiba-themed crypto projects that are inspired by Elon Musk tweets that are created by a pseudonymous team. However, the Floki marketing team has been quoted in the Financial Times, and other less-than-critical reports of the token have been covered by Nasdaq, Forbes, and other major financial publications. Similar coverage attracted a large group of people to the SQUID token, which dropped from $2,862 to $0 in seconds. Floki, Squid, and other projects are not only harmful to the reputation of crypto but can be financially devastating for those who choose to participate. Even if you wouldn't fall for something like this, crypto scams wouldn't still be around if they weren't successful. So if you're avoiding talking politics at Thanksgiving and someone inevitably brings up crypto, it might be a good time to make sure your grandma/uncle/etc. isn't putting their savings into a metaverse, DeFi, NFT, Web3 crypto project inspired by an Elon Musk tweet.
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 |  | Griffin McShane is a New York transplant currently living in Brooklyn, NY. He is a graduate of Providence College, where he studied both computer science and business, and the University of Maine School of Law, where he earned his JD. Beyond his work at Inside, Griffin has written articles for CoinDesk and is a member of the International Association of Privacy Professionals (IAPP). |  | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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