Daily Top Mover — Boba Network (BOBA)
Major U.S. stock indices registered a weekly loss last week, with Nasdaq consolidating following a 15% rebound since its low in late December. The coming week might be volatile, with January’s CPI print due on Tuesday. Meanwhile, the broader cryptocurrency followed suit, with major tokens declining after January’s stellar rise. The top mover for today, BOBA, registered a 24-hour decrease of 5.9%, outperforming the broader market likely due to Uniswap deployment and a community event.
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BOBA is the native token of Boba Network, a multichain Layer-2 network deployed on ETH, Avalanche, Moonbeam, and BNB with Hybrid Compute smart contracts. The recent outperformance comes as Uniswap votes to deploy on the network as well as an upcoming community event called Scale Web 3.0. Interestingly, the daily transaction on Boba Network has yet to see an uptick, while competitors such as Arbitrum and Optimism have received remarkable growth in both TVL and transactions in the same period. As such, Boba Network still lags behind in terms of capital flows among Layer 2 solutions despite the anticipation of a Layer 2 hype.
Check Out the Latest Prices, Charts, and Data for BOBA/USDT!
Talk of the Town
Royalty rights of Rihanna’s hit song “Bitch Better Have My Money” have been transformed into NFTs, which were sold a few minutes following the release. Each piece of the NFTs represents 0.0033% of the streaming royalties to the song, with a projected investment return of 6.5% per annum. AnotherBlock, the team behind the effort, is a web3 project that helps artists or rightsholders fractionalize their streaming rights in the form of NFTs.
Check out what else is buzzing in the crypto scene today:
DeFi giant MakerDAO integrates blockchain data provider Chainlink for DAI stablecoin. (Link)
SushiSwap acquires Cosmos-based trading platform Vortex Protocol. (Link)
China targets blockchain breakthroughs with Beijing Research Center. (Link)
Microsoft disbands industrial metaverse project. (Link)
Uniswap coming to BNB Chain? Governance says yes. (Link)
Super Bowl crypto ads are lacking, but NFTs have a spot. (Link)
Source: Bybit Blog | BOBA Rises Following Uniswap Deployment; Rihanna’s Music NFTs Sold Out
