The social network Instagram announces that it wants to venture into the NFT area. Has the hype hit an all-time high? The market update.
This morning of December 21, the crypto market seems to be doing well overall, which Coingecko-The ranking of the largest cryptocurrencies by market capitalization glows green for a change. Meanwhile, Mark Zuckerberg’s planned Metaverse vision is emerging as an NFT in his subsidiary.
Bitcoin (BTC) is trading at around $ 48,566 at press time, representing a 4.2 percent price increase compared to the day. Ethereum (ETH) is also growing 4.1 percent overnight, trading at around $ 4,010. Especially Avalanche (AVAX) and Memetoken Shiba Inu (SHIB) show double digit growth rates in a daily comparison.
The NFT space in particular made headlines again in recent weeks. Adidas was launched with its own collection and Nike acquired a startup from NFT to further advance in the field. Now we have received the news that the social network Instagram, which belongs to Meta, also wants to expand towards NFTs.
In one Video answered Instagram-CEO Adam Mosseri when asked what he thinks of NFT’s integration into the social media platform. Although there was still nothing concrete to say, Mosseri responded that the company was “actively participating in NFTs and how they can be made available to a wider audience.” That’s not surprising: as part of Meta, the platform is likely subject to a similar Metaverse unit.
Japan as a stronghold of the NFT
If you look at search queries for different terms, the mother of all cryptocurrencies, Bitcoin naturally stands out more. The diagrams show the interest value of the different terms based on your search queries.
It should be noted that the search terms “Crypto” and “NFT” are currently on the same level. On the one hand, this reflects the current hype at NFT. On the other hand, there is also information about the search behavior of people who, according to the figures, are now looking more specifically for NFT than the crypto space in general.
A regional comparison also shows some developments. For example, while France is as interested in the crypto space in general as in Bitcoin in terms of search queries, Japan recorded the highest interest in NFT within a country compared to the other two search terms with a value of 52 percent.
Germany, on the other hand, shows the most interest in Bitcoin. A look at the various federal states reveals that Berlin in particular sets the pace in the NFT area.