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Burning of ETH on OpenSea has surpassed 100,000 and now stands at about 100,060, according to Data from Ultrasound. The total value is over $400 million. In second place was Ethereum transfers, which burned more than 85,000 ETH. Uniswap V2 came in third, burning nearly 80,000 ETH. NFT transactions on OpenSea Ethereum exceeded $100 million, the highest since October 15, according to Dune Analytics. After Jimmy Fallon changed his Twitter profile picture to BAYC (Bored Ape Yacht Club), the sales of NFT series of BAYC and MAYC (Mutant Ape Yacht Club) on OpenSea increased dramatically.
Yesterday the Bitcoin network successfully activated the Taproot soft fork. The milestone marks Bitcoin’s first major upgrade since August 2017. The Taproot upgrade is designed to improve scripting capabilities and privacy on the Bitcoin network. Whether Bitcoin returns to near $66,000 this week will be critical. Once BTC price settles at $66,000, $70,000 will re-emerge as potential pressure. Once BTC breaches this level, the market is expected to trigger a new round of FOMO sentiment.