The crypto market has turned bearish, and so has Bitcoin (BTC). It is currently trading at $35,609, well below its 200-day EMA. Investors have cut Bitcoin from their portfolios to avoid volatile assets while considering the low side of global markets due to Fed bond tapering.
While the downfall continues, the BTC network has also been experiencing an all-time high mining difficulty of 26.643 trillion with an average hash rate of 190.71 exahash per second (EH/s). Mining difficulty is determined by the average computing power required to mine BTC and confirm transactions.
This hasn’t stopped Ravendex from launching its NFT. Ravendex is a Cardano-based decentralized exchange, and it is completely non-custodial. It is the first project to utilize the Alonzo Hard Fork update on the Cardano Ecosystem. The Alonzo Hard Fork update allows smart contracts to deposit and collect interest as per rules.
Because it is based on the Cardano network, it is environmentally friendly compared to proof-of-work mined coins like Bitcoin and Ethereum.
The sale consists of 10,000 uniquely pixelated $RAVE NFTs, which have real utilities, unlike others. It will earn users rewards in $RAVE, a coin launched by Ravendex to use in their ecosystem. Users can also stake $RAVE NFTs to endorse a project launching through their IDO. Listing and selling assets on other marketplaces is also permitted.
Seekers of the NFT can find it on their official NFT Minting page, where they can generate the minting address and pay 50 ADA to receive their $RAVE NFT. The proof of ownership for the NFT will be stored on the Cardano network.
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