Chain News Today TheBitTimes.com

The luxury auction house has developed a fully on-chain sales system where users can purchase curated NFTs on the Ethereum and Polygon networks. Luxury auction house Sotheby’s has announced the addition of a new on-chain marketplace that allows digital art collectors to purchase secondary NFTs. While many pre-existing NFT marketplaces already host peer-to-peer sales of digital artworks — the auction house is attempting to separate itself by offering a “rotating, curated selection of leading artists hand-picked by Sotheby’s specialists.” The next evolution of #SothebysMetaverse is here! The most trusted and dynamic destination to collect, buy and sell remarkable digital works. Explore: https://t.co/hZvYIkO3xx pic.twitter.com/dCkaCKlXVm — Sotheby's Metaverse (@Sothebysverse) May 1, 2023 All NFT sales on the Sotheby's Metaverse platform occur by way of sm Art contracts that allow digital Art collectors to pay for their Art and collectibles in a choice of Ether (ETH) or Polygon...

According to crypto data analytics firm CryptoQuant, an on -chain metric is giving off a definitive Bitcoin buy signal for the first time since 2019. CryptoQuant’s Profit and Loss (PnL) Index, an index constructed from three on -chain indicators relating to the profitability of the Bitcoin market, recently crossed back above its 365-Day Simple Moving Average (SMA) after a prolonged spell below it. The PnL Index chopped either side of its 365-Day SMA in 2020 and 2021. The last time it broke decisively to the north of its 365-Day SMA after a prolonged period below it was back in 2019, a few months after the market had bottomed. “The CQ PnL Index has given a definitive buy signal for BTC,” CryptoQuant note, before stating that “the index crossover has implied the start of bull markets in past cycles”. “It is still possible for the index to fall back below,” CryptoQuant cautioned in a blog post. But the Bitcoin bulls will be ad...