Shiba Inu: Bullish Whales Propel Momentum

Dear Readers,

Welcome to another edition of XEROF's weekly newsletter. Our European research desk has compiled this week's biggest news and developments in cryptoassets and luxury real estate.

Our top digital currency news stories this week are as follows:

• NFTs Created by 99-Year-Old Artist Vera Molnár Sold for $1.2 Million
• XRP's Potential for All-Time High Signals Growing Altcoin Market
• Shiba Inu Surges and Whales Indicate Bullish Momentum

We also feature the latest developments in luxury real estate, including:

• Côte d’Azur Tops Global Second Home Ranking
• Boulder Tops US Luxury Housing Market Rankings
• Dubai Luxury Property Market Set for Rapid H2 Growth

Cryptoasset News

NFTs Created by 99-Year-Old Artist Vera Molnár Sold for $1.2 Million

Hungarian artist Vera Molnár's new NFT collection recently achieved a remarkable sell-out, with each NFT fetching ETH 631 (€1,068,328), surpassing the initial minting value of ETH 1.23 (€2,084). Furthermore, the project gained substantial momentum in secondary markets, notably on OpenSea, further fuelling interest in the one-of-a-kind collectables. Buyers were randomly assigned one of the 500 distinctive artworks. XEROF encourages investors to embrace NFTs and watch for innovative and valuable collectables.

XRP's Potential for All-Time High Signals Growing Altcoin Market

Technical analyst CoinsKid highlighted on Twitter the possibility of XRP reaching a new all-time high, citing the emergence of a “double bottom” pattern, which traders often interpret as a sign of a potential upward trend after a decline. XEROF views this development as a significant contribution to the broader narrative of a thriving altcoin market, which could challenge Bitcoin's longstanding dominance in the cryptoasset arena.

Shiba Inu Surges and Whales Indicate Bullish Momentum

On July 29, Shiba Inu demonstrated remarkable performance in the market, with a price of $0.000008 and an impressive 24-hour trading volume of $26 million, soaring by nearly 4.5% and emerging as the top-performing coin. The heightened activity among Shiba Inu whales engaging in substantial transactions suggests a bullish sentiment, potentially increasing the cryptoasset's price. XEROF observes that breaking the resistance level at approximately $0.00000845 may pave the way for the next resistance area, estimated to be roughly $0.00000890.

Luxury Real Estate News

Côte d’Azur Tops Global Second Home Ranking

Savills, the real estate firm, names Côte d’Azur as the world’s best second home location. The region excels in lifestyle, leisure, and luxury offerings, with prime residential property prices averaging €23,000 per square meter (€2,300 per square foot). According to the report, Europe hosts numerous leading second-home destinations worldwide, comprising 14 of the top 20 getaway spots.

Boulder Tops US Luxury Housing Market Rankings

According to the latest Emerging Housing Markets Index from The Wall Street Journal and Realtor.com, Boulder emerges as the US's most active luxury housing market, with average luxury prices experiencing annual growth in April, May, and June. Data from Compass reveals that in June, the average sold price for luxury homes increased by 9.4% from the previous year, reaching $3.9 million.

Dubai Luxury Property Market Set for Rapid H2 Growth

Dubai's luxury property market is well-positioned to maintain the fastest growth rate in the second half of 2023. The continued inflow of affluent investors and expats and a supply shortage of high-end units drive strong demand and are expected to increase luxury property prices by 10%. Furthermore, the luxury segment will also contribute to driving up the capital value of mid-range and affordable units.