Quantum Cats Floor Values Soar to New Heights
Since the launch of Taproot Wizards' Quantum Cats non-fungible token (NFT) series, there has been a significant increase in trading volume and the collection's minimum value in the secondary market. Initially priced at 0.1 bitcoin each, the lowest value of Quantum Cats NFTs now hovers around 0.303 bitcoin or $13,062 per NFT.
Just 48 hours ago, Bitcoin.com News reported on the launch of the Quantum Cats NFTs, which encountered some obstacles. However, post-launch, the collection has generated over $12 million in initial sales, resulting in prices well above the initial cost of 0.1 BTC. According to figures from Magic Eden, a total of 257.6658 BTC, equivalent to $11.1 million, has been traded for Quantum Cats NFTs in the secondary market.
In addition, the Ordinals series, available on the Okx Bitcoin inscription trading platform, has recorded 245.3061 BTC or $10.57 million in transactions since its debut. Magic Eden reports that the minimum value of the Quantum Cats collection is 0.303 BTC or $13,062, while Okx shows a minimum of 0.338 BTC or $14,571 per collectible. This indicates that the lowest value of the NFTs has increased more than threefold since their initial listing.
Currently, out of the 3,333 NFTs in the collection, 533 are available on Magic Eden, while only 28, or 0.84%, can be found on Okx's inscription marketplace. With 2,720 distinct holders, the Quantum Cats collection is the top-ranking NFT series on both Okx and Magic Eden as of 9:00 a.m. Eastern Time on Wednesday.
In terms of NFT sales, Bitcoin-centric collections are second only to Ethereum, with a total of $64,615,064 in sales over the past week, compared to Ethereum's $100,712,013. However, Quantum Cats face strong competition from established Bitcoin inscription series like Bitcoin Punks and Ordinal Maxi Biz. Notably, five days ago, Bitcoin Punk #60 was sold for $169,266, making it the most expensive Ordinal inscription sold in the last week.
What are your thoughts on the rising value of Quantum Cats NFTs in the secondary markets? Feel free to share your opinions in the comments section below.
Frequently Asked Questions
What does gold do as an investment?
The supply and demand for gold affect the price of gold. Interest rates are also a factor.
Due to limited supplies, gold prices are subject to volatility. There is also a risk in owning gold, as you must store it somewhere.
How much are gold IRA fees?
A monthly fee of $6 for an Individual Retirement Account is charged. This fee covers account maintenance fees, as well any investment costs that may be associated with your investments.
If you wish to diversify your portfolio, you may need to pay additional fees. These fees can vary depending on which type of IRA account you choose. For example, some companies offer free checking accounts but charge monthly fees for IRA accounts.
Many providers also charge annual management fees. These fees can range from 0% up to 1%. The average rate is.25% per year. These rates can often be waived if a broker, such as TD Ameritrade, is involved.
What is the value of a gold IRA
The benefits of a gold IRA are many. It's an investment vehicle that allows you to diversify your portfolio. You have control over how much money goes into each account.
You can also rollover funds from other retirement accounts to a gold IRA. If you are planning to retire early, this makes it easy to transition.
The best thing about investing in gold IRAs is that you don’t need any special skills. They are readily available at most banks and brokerages. You don't have to worry about penalties or fees when withdrawing money.
There are also drawbacks. Gold has historically been volatile. Understanding why you invest in gold is crucial. Are you seeking safety or growth? Is it for security or long-term planning? Only by knowing the answer, you will be able to make an informed choice.
If you plan to keep your gold IRA indefinitely, you'll probably want to consider buying more than one ounce of gold. A single ounce will not be sufficient to meet all your requirements. You may need several ounces, depending on what you intend to do with your precious gold.
A small amount is sufficient if you plan to sell your gold. Even one ounce is enough. But, those funds will not allow you to buy anything.
What precious metals do you have that you can invest in for your retirement?
Gold and silver are the best precious metal investments. Both can be easily bought and sold, and have been around since forever. They are a great way to diversify your portfolio.
Gold: The oldest form of currency known to man is gold. It is stable and very secure. It's a great way to protect wealth in times of uncertainty.
Silver: Silver has been a favorite among investors for years. It is an excellent choice for investors who wish to avoid volatility. Silver is more volatile than gold. It tends to rise rather than fall.
Platinium: Another form of precious metal is platinum, which is becoming more popular. It's like silver or gold in that it is durable and resistant to corrosion. It's however much more costly than any of its counterparts.
Rhodium: Rhodium is used in catalytic converters. It is also used to make jewelry. It is also quite affordable compared with other types of precious metals.
Palladium – Palladium is an alternative to platinum that's more common but less scarce. It's also much more affordable. It is a preferred choice among investors who are looking to add precious materials to their portfolios.
What Is a Precious Metal IRA?
A precious metal IRA allows you to diversify your retirement savings into gold, silver, platinum, palladium, rhodium, iridium, osmium, and other rare metals. These rare metals are often called “precious” as they are very difficult to find and highly valuable. These metals are great investments and can help protect your financial future from economic instability and inflation.
Bullion can be purchased via a variety of channels including online sellers, large coin dealers, and grocery stores.
An IRA for precious metals allows you to directly invest in bullion instead of purchasing stock shares. This will ensure that you receive annual dividends.
Precious Metal IRAs don’t require paperwork nor have annual fees. Instead, you only pay a small percentage on your gains. Additionally, you have access to your funds at no cost whenever you need them.
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
- Are You a Good Candidate for a Gold IRA
- What are the Options Types, Spreads. Example. And Risk Metrics
The best place online to buy silver and gold
Understanding how gold works is essential before you buy it. It is a precious metal that is very similar to platinum. It's very rare and is used as money because of its durability and resistance to corrosion. It is very difficult to use and most people prefer to purchase jewelry made of it over actual bars of Gold.
There are two types today of gold coins. One is legal tender while the other is bullion. Legal tender coins can be used for circulation within a country. These coins usually come in denominations such $1, $5 and $10.
Bullion coins should only be used for investment purposes. Inflation can cause their value to increase.
They cannot be used in currency exchanges. For example, if a person buys $100 worth of gold, he/she gets 100 grams of gold with a value of $100. Every dollar spent on gold purchases, the buyer receives one gram of gold.
When looking to buy precious metals, the next thing you should be aware of is where it can be purchased. You have a few options to choose from if you are looking to buy gold directly through a dealer. First off, you can go through your local coin shop. You can also go to a reputable website such as eBay. You might also consider buying gold from an online private seller.
Individuals who sell gold at wholesale and retail prices are called private sellers. Private sellers will charge you a 10% to 15% commission for every transaction. Private sellers will typically get you less than a coin shop, eBay or other online retailers. This option is often a great choice for investing gold as it allows you more control over its price.
Another way to buy gold is by investing in physical gold. Physical gold is much easier to store than paper certificates, but you still have to worry about storing it safely. Physical gold must be kept safe in an impassible container, such as a vault.
To purchase gold by yourself, you can visit a bank and a pawnshop. A bank can give you a loan up to the amount you intend to invest in Gold. These are small businesses that let customers borrow money against the items they bring to them. Banks typically charge higher interest rates than pawn shops.
Finally, another way to buy gold is to simply ask someone else to do it! Selling gold is simple too. Contact a company such as GoldMoney.com, and you can set up a simple account and start receiving payments immediately.
By: Jamie Redman
Title: Quantum Cats NFT Collection Surges in Value and Dominates Secondary Market Trade Volume
Sourced From: news.bitcoin.com/quantum-cats-nft-collection-jumps-in-value-dominates-secondary-market-trade-volume/
Published Date: Wed, 07 Feb 2024 15:30:21 +0000