15th Edition

This week in The Flippening, TL;DR

Reddit’s ingenious plan to onboard 500 Million users into the Ethereum blockchain. Hefty five figure airdrop for early adopters of ENS. Although Tim Cook invests in cryptocurrencies, Apple Pay won’t have crypto payments anytime soon. Coin of the week, Mudrex Mints to look out for, market performance, winner announcements, and more.

Top Highlights of the Week (ending 12th Nov)

Imagine a spinoff where your Reddit karma points turn into crypto

Reddit recently announced plans to tokenize its user-earned “karma points” into ERC-20 tokens on Ethereum’s Arbitrum scaling solution. As a pilot project, it will kick off initially within the two subreddits: r/cryptocurrency and r/FortNiteBR.
“Reddit has 500M monthly active users. When we all pull this off, we would onboard 500M web2 users into web3 and then there is no going back. Let me say that again – 500 million new crypto users,” stated Rahul Kothari, Reddit’s crypto engineer.

Early Ethereum Name Service (ENS) adopters rewarded with a hefty five-figure airdrop

People holding a .eth domain prior to 31st October have been rewarded with a hefty airdrop translating into an instant five-figure payday for many users.

The popular Ethereum Name Service protocol, typically issues non-fungible tokens NFTs that can serve as both Ethereum addresses and web domains.

This could serve as a stepping stone for potential airdrops of other well-known dApps as well. Soon after there was a tweet from Joe Luben, CEO of Consensys, the company that owns MetaMask stating:
"Wen $MASK? Stay tuned"

“Apple won’t have crypto payments anytime soon”- Tim Cook

Tim Cook, chief executive officer of Apple Inc., revealed that he is personally invested in cryptocurrency but has no intention to affect the same with regards to Apple’s cash.

He confirmed that Apple had no immediate plans to integrate cryptocurrency functionality into Apple Pay. According to Cook, “I don’t think people buy Apple stock to get exposure to crypto”. However, “There are other things [Apple is] definitely looking at”

Other Highlights:

• Discord drops Ethereum and NFT integration plans after backlash: Read it here
• Kazakhstan Struggles to Bear Weight of Exiled China Bitcoin Miners: Read it here
• Chia Network to Help Costa Rican Government Track Climate Change: Read it here
• Electronics Outlet MediaMarkt Hit by Ransomware Attack Demanding $50M in Bitcoin: Read it here

Market Performance Overview

While the overall market results were nearly identical to the last week, BTC and ETH both hit their new ATHs before dropping a bit. The market cap also crossed the $3 Trillion mark, before descending. Top altcoins ended the week with minimal movements across the week, apart from Litecoin (+29%), Polkadot (-12%) and Algorand (+13%).

Decentralized Exchanges were the talk of the town last week, witnessing nearly 13% growth, followed by DeFi which saw a rise of over 7%. Other sectors, too, were in the green, with Currencies and Web 3 rising ~5% each. Mudrex Coin Sets let you invest in your favourite sector in a few clicks!

Coin of the week

Loopring: $LRC

LRC is an Ethereum-based cryptocurrency token of Loopring. It is an open protocol designed for the building of decentralized crypto exchanges. LRC witnessed a huge buying pressure this week which saw the crypto flying. This project has an active community that also aided a massive rally. Massive partnership announcements and development plans have already witnessed an explosive growth in interest in Loopring.

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Invest in Mints

Here we are, at the end of our 15th edition. We hope you liked reading it. Please write back with your feedback, comments, and stuff that you’d like us to include in the newsletter. We end with announcing the winners of our Halloween giveaway. Happy investing!

Congratulations Nirmeet Desai and Kenny Brown on being the lucky champs. A $500 reward will reflect in your Mudrex wallet.