When life gives you limes…Here’s a little throwback for you all: remember LimeWire? Well, the long-dormant music sharing website is making a comeback, and it’s using Web3 to do it.
🔍 Key points:
- LimeWire is back as an NFT platform after the peer-to-peer file-sharing system (which was largely used for illegal music downloading, let's be honest), spent over a decade in the dark.
- But now it’s chosen the Algorand blockchain to power its new collectibles marketplace because of its environmental perks – the network has been carbon-negative since 2021 – while its scalability and security add to the appeal.
- The token is up nearly 5% this week so far and looks like it could snap its five-week losing streak, though prices are still sitting at their lowest levels since January 2021, partly because of the craziness crypto has been going through lately.
Andres Hernandez / Unsplash
Algorand is everywhereAlgorand's native token soars to 2021 highs after getting a new exchange listing.
- Algorand shot up 56% in five minutes, to its highest price this year, only 14% away from its all time high.
- It followed a listing by UpBit, a South Korean exchange, building on a new Algorand EPT (exchange-traded product) recently launched on the Swiss exchange 21Shares, plus some attention from PayPal. It's claimed that 81% of wallet addresses holding the token are currently profitable .
- The rally bucked an overall market crash that took down all the top cryptos on Thursday.