NIKE HAS LAUNCHES WEB3 PLATFORM

Ethereum as turned deflationary which means that are presently more Ethereum coins being burned than being created. We have had days and weeks of deflation before but right now the annual supply for Ethereum has run negative. Since the Ethereum fee-burning mechanism has come into effect the Ethereum blockchain has burned over two million ETH. That is bullish for Ethereum but can not tell where we go from here with the current macro situation.

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Uniswap over takes Coinbase to become the second largest exchange trading Ethereum. Just like a week, it was reported that Uniswap processed 1.8 billion dollars in 24hr trading period. This meant that Uniswap overtook Coinbase by almost double and also Uniswap was just behind Binance which saw 1.9 billion dollars. The numbers have set down but the trend continues to hold up. It is not just Ethereum trading volume that has risen from decentralized exchanges. We are seeing many different decentralized exchange trading volumes rising as well. We are seeing a Curve financial when from a $700 million trading volume to $1.3 billion.

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Decentralized exchanges could be starting to replace centralized exchanges because many investors are starting to discover the risk of using decentralized exchanges and that is why they are turning to decentralized exchanges. Nike has launched a better version of the web3 platform called Swoosh. They also said they plan to launch Polygon NTFs on the platforms next year. This is actually not Nike's first venture, they have already been the biggest adopter of web3 technology in the world of fashion. They acquire a digital start-up last year and they launched crypto NFT collections this year. Their NFT was initially on the Ethereum blockchain before moving to Polygon blockchain because of its faster and cheaper transactions.

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Polygon has already made it clear that they want to be at the forefront of the web3 adoption and we are already seeing. Binance launched NFT collections for Cristiano Ronaldo and the collection features seven animated statuses of Ronaldo from some of the best moments of his life. The NTF rareble level will come we some special messages from Cr7 and a virtual meet. The deal was to encourage Cr7 fans to join web3. This has a huge potential to drive many people into the world of web3 know fully well was influential he is.

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There has been over 220k Bitcoin being removed from the crypto exchange in two weeks. Now is the best time to move your crypto from exchanges because of the contagion going on. The Caribbean island of St.kitty is considering adopting Bitcoin as a legal tender.

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