Celebrating a Decade of Ethereum: A Journey of Innovation and Community
Join us in celebrating Ethereum’s 10th anniversary, a milestone marked by the launch of a unique NFT known as “The Ethereum Torch.” This special token pays homage to Ethereum’s dynamic community and will circulate among wallets before being ceremonially burned to usher in a new era with a free mintable NFT.
The Ethereum Torch: A Symbol of Unity and Progress
Advertisement Banner
On July 21, Joseph Lubin, Ethereum’s co-founder and the visionary behind ConsenSys, will initiate the journey of the Ethereum Torch. This NFT will traverse the globe, residing in a new wallet every day for ten days, showcasing Ethereum’s extensive reach and community spirit.
As the Ethereum Foundation announced via their official X account, the torch’s journey pays tribute to the individuals and ethos that have shaped Ethereum’s past and will influence its future. Each transfer emphasizes the network’s global footprint.
Commemorating the Past, Embracing the Future
The torch’s final stop is set for July 30, culminating in the burning of the NFT. This symbolic act marks the end of one chapter and the beginning of another. Following this, a new NFT will be available for free on the official Ethereum website, allowing more participants to join in the celebration.
NFT Market Experiences a Resurgence
Recent on-chain data reveals a remarkable rebound in NFT trading activity, with total weekly sales across all blockchains surpassing $110 million. Notably, Ethereum-based projects contributed approximately $75 million to this figure, a significant 300% increase from two weeks prior.
This surge coincides with a 50% rise in Ethereum’s price since July 6, reflecting a renewed interest in digital art and collectibles. After a challenging 2024, where NFT trading dipped by 18% compared to the previous year, this uptick signifies a revival of confidence among collectors and traders.
Dynamic Cross-Chain Movements and Major Acquisitions
While other blockchains demonstrated varied performance, Bitcoin-based collectibles saw a near doubling of weekly volume to almost $26 million. Meanwhile, Polygon experienced a slight decline during the same period, suggesting that interest remains concentrated on leading platforms.
In related developments, Cboe BZX has submitted a proposal for a new ETF in collaboration with Canary Capital. This initiative aims to include PENGU tokens linked to the popular Pudgy Penguins collection, further diversifying the NFT market landscape.
Our Editorial Commitment
Editorial Process – At Bitcoinist, we are dedicated to providing meticulously researched, precise, and impartial content. Our rigorous sourcing standards ensure that every piece is thoroughly vetted by our team of top-tier technology experts and experienced editors, guaranteeing the integrity and value of the information we deliver to our audience.
