While the cryptocurrency market experiences its bullish moment in the last quarter of the year, despite recent setbacks, the NFT industry is increasingly consolidated within the enthusiasts of this sector. The wide offer of marketplaces and the fact that several exchanges have been joining the wagon of this niche has triggered an interest that until a couple of years ago had not been seen.
Although there are already discussions about the possibility of diversifying the crypto option to be able to trade with NFTs beyond Ether (ETH), such as Solana (SOL) or Cardano (ADA) itself, the second crypto with the highest capitalization in the market. it still maintains its popularity through the roof and the numbers – and the price – are proof of that.
Right now, ETH is trading around $ 3,955 after having made a pullback from the highs of $ 4,375. Based on the technical picture on the 4-hour chart, the price is finding dynamic support at the 50-period simple moving average.
While this crypto is following the general bullish sentiment in the market, consider that it could gain additional traction from news about the adoption of NFTs at the mainstream level, and not exactly celebrities buying such assets.
This is Reddit, the famous social network that has become popular in recent years within the crypto community, who have published an interesting job advertisement: they are looking for an engineer for a platform that allows millions of users to “create, buy , sell and use digital assets backed by NFTs ”.
In fact, the post elaborates on what the company is looking for within this role, where it hints at Reddit’s direct intentions to develop an NFT project. “With each new NFT project, a vibrant community of owners appears. Fans of today’s biggest brands and creators flock to buy digital products directly from them, to endorse them, gain exclusive access and have a greater sense of connection with them, ”adds the ad copy.
It is not minor news, considering that Reddit has been the scene of some of the most particular events within the financial and crypto markets, such as being the scene of communities that inflated GameStop stock prices at the time ( GME) and Dogecoin (DOGE).
So far no more details are known about the project that Reddit is targeting within the sphere of NFTs.
This article was originally posted on FX Empire