😵 What the feet?

Good Morning, Switchers 🌞

👋Welcome to Switch Daily.

Remember when there were rumors about Twitter introducing its own currency? Apparently, the rumors are true, and Twitter is creating its own ‘Twitter coins’ to enable its creators. 🐦

Even the Dogecoin community was so hopeful for this news that the token surged big time after the ‘Twitter coin’ speculation was out. Elon also mentioned that he would like to integrate crypto into social media. 

But bad news or whatever! The project development document does not reference ‘crypto’ or blockchain. This means Twitter coin - yes, Doge Crypto on Twitter - no. 

How do we know this? Umm..*whispering* Someone leaked the project’s development on Twitter 🤪. 

BTW, if you like reading this newsletter, give us a shout-out on Twitter and get your friends to subscribe. It will mean a great deal to us!

Here’s what we’ve got for you today: 

• Market pulse

• 5 tricks scammers used in 2022

• Steaming news

• Meme of the day

Market pulse 📈

The market is bright like a diamond 💎

Continuing this week’s bullish trend, the crypto market rose by $21.86B yesterday. It found support in Nasdaq and the Fed's stance on rate hikes. Voyager Digital getting the green light for sale to Binance US also added to the support.

All the top cryptos by market cap were seen trading in the green. XRP (+6.33%), ETH (+4.02%), and MATIC (+4.03%), in particular, registered significant gains. Rising 4 points, the Fear & Greed Index touched 30/100.

What the feet? 🦶

Guess who beat BAYC to become the fifth most traded NFTs on Opensea?

Say hello to Feetpix.

Feet what? Not your average NFT with a monkey or cat. These are 10,000 legit pixelated images of human feet in various forms, like one with socks on, one with different nail paint, etc., etc. 

How is it doing better than BAYC? Spill it!

Feetpix, a.k.a feetpix.wtf, was launched about three days ago. Since then, it has done: 

• 727 ETH or $9,71,715 in trading volume 

• Sold over 16,000+ transactions 

• And what was initially free to mint is now priced at 0.098 ETH or $132. 

• The NFT collection has seen a 60% surge in price since yesterday.

And do you see BAYC on this list? Duh!

What’s the point of this NFT collection? 

At first, we thought maybe it was some beauty parlor aunty trying to promote pedicure in a novel way, or it could be a collection to help a group of ballet dancers. We dug deeper, and it turns out it is none of that. 

No goal—the idea is just to unite all folks with one shared love for feet. What weird madness? They say it themselves, these poor souls need therapy indeed. 🙈

How is one foot different from another? 

The rarity of feetpix is determined by accessories such as socks, cigarettes, variations in nail polish color, and skin tone colors such as white, tanned, brown, dark brown, and white.

As soon as the NFT collection started gaining traction, crypto Twitter called it out. Many say that the ‘degen era’ is back, where traders place high-risk trades on pointless collections like this. There’s speculation that this trend could be the beginning of the end of the bear market. 

Is the NFT bear market nearing its end? 

According to market metrics aggregator Cryptoslam, NFT sales volume exceeded $211.4 million in the seven days ending January 7, with approximately 1.2 million NFTs transacted between over 400,000 buyers. That is a 26% increase in one week. 

Does it all connect and tell us that this could be the end of the long cold NFT bear market? We never know. 

Considering the fact that the industry is plagued with pump-and-dump schemes, we would tread cautiously. Just DYOR and have fun! 

Note: None of this is financial advice, and we’re not financial advisors. We’re merely your fellow investors who share information on the go. 

What’s up, buttercup? 🌼

💰BTC millionaires take a big hit

As the crypto winter rages, addresses holding BTC worth more than $1 million have sharply declined. At its highest point, in Nov 2021, 108,886 wallets were holding BTC worth more than $1 million, which has now dropped below 25,000, a decline of more than 77%. 

⚫Polkadot ecosystem is on a roll

In the last few months of 2022, the Polkadot ecosystem witnessed explosive growth as the protocol and its projects saw more technological adoption and signed many collaborative partnerships.

🐵Yuga Labs to gamify NFTs

Yuga Labs, the company behind the Bored Ape Yacht Club collection, has announced plans to make minting NFTs more fun. The startup announced an upcoming online game in which players must navigate a sewer to claim NFT rewards. 

Meme of the day!

Thank You,

See you later, folks. 👋

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