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CHART OF THE DAY Active addresses on the Bitcoin network have started to rise again thanks to interest in the new NFT capabilities through Ordinals. New addresses have also consistently held above 500k per day for the first time since early 2021.Source: Twitter – Valkyrie, March 2023DIGITAL ASSETSThe number of nodes on the Bitcoin network has reached an all-time high. Running a full node is necessary to inscribe NFTs onto the blockchain. The growth of this sector has helped the number of nodes reach a new level.Source: Bitnodes.io, March 2023There are currently four main Ordinals marketplaces that are competing for volume as creators continue to bring more NFTs to the Bitcoin blockchain. Ordinals Wallet currently serves the largest amount of unique users.Source: Dune, March 2023Amazon to launch NFTs? The firm is laying the groundwork to give customers the ability to purchase NFTs tied to real-world assets that are delivered to their doorstep. Amazon’s intention is to create some type of private blockchain, according to several sources.Stablecoin Issuer MakerDAO has proposed an additional purchase of $750 million of US Treasurys. If passed, the resolution would add to the $500 million already approved in October.WHAT TO KNOWStocks fell sharply Tuesday after Fed Chair Jerome Powell told the Senate the Fed expects to raise interest rates multiple times in the coming months. He also noted that the Fed will be prepared to reaccelerate its pace of monetary-policy tightening if needed.Source: Barron’s, March 2023SubscribeUpcoming Opportunistic Fund WebinarJoin Valkyrie’s Opportunistic Fund portfolio team on Tuesday, Mar 21 at 2 PM as they discuss uncovering digital asset value in current markets.Register Here |
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