Bored Of Bored Apes

GM Readers!📪 It's BitDegree Insider, and it's that sweet day of the week again.

⭐️Today's selection:

• 🐵Bored From Bored Apes
• 🥚Surprising New Index
• 🧩️Answer To Yesterday's Puzzle
• 👌Selected Meme of The Day
• 📰Bite-Sized News

BORED FROM BORED APES

Alright, it's time to return to monke.

Well-known NFT investor Franklin (@franklinisbored) has made a surprising announcement.

Apparently, he's taking a break from the industry. And it's no wonder why - he recently fell victim to fraudulent rugpools, losing a staggering $4 million in the process.

As a result, he now finds himself having to repay loans in BendDAO, leaving him with no immediate plans to conduct any further transactions.

BTW, BendDao is a DeFi project that enables users to use NFTs as collateral to borrow ETH. The platform aims to provide a one-stop NFT liquidity solution.

@franklinisbored recently sold 27 quite rare NFTs from the Bored Ape series, raking in a whopping 1439 ETH (nearly $3 million) in total.

Apparently, before selling the apes he got scammed:

So, ex-NFT-whale @franklinisbored now only holds two Bored Apes in his NFT portfolio.

When it comes to Apes: the cost of NFTs is at a minimum level, if considering the floor price in a year.

This price now fluctuates around 55 ETH (~$110,000). Just over one year ago, it was around 150 ETH, which translates to ~$450,000.

TL;DR: Prominent NFT collector announced that he's leaving the industry. This news came around after him falling victim to fraudulent activities.

SURPRISING ECONOMIC INDICATOR

In a move that caused quite a stir last summer, the Federal Reserve Bank of St. Louis unveiled a brand new consumer price index that's tied to Bitcoin.

But what exactly does it track, you may ask?

Believe it or not, this index monitors the fluctuating value of a dozen eggs in satoshi, providing a unique perspective on changes in real purchasing power.

And it seems that this index may be telling an interesting story - the chart shows that the index has hit a new low in March, marking the first slowdown in inflation and price growth since July 2022.

Did you know that on average, a dozen eggs in the US will cost you around 13.5-13.8 thousand satoshi?

But what's even more interesting is that by the end of last year, the price had skyrocketed to just over 25,000 satoshi.

This spike had some experts worried about the possibility of hyperinflation looming on the horizon.

It just goes to show that even something as seemingly mundane as the cost of a dozen eggs can provide valuable insights into the state of the economy.

The reasoning behind choosing eggs is quite clear.

Eggs are a widely purchased item, making them an ideal product to represent real purchasing power. By selecting a popular product or dish, we can easily observe changes in value.

The St. Louis Federal Reserve has previously tracked an index of chicken eggs linked to the dollar.

But why did the regulator also incorporate Bitcoin into the mix? This decision was proposed by the organization's statisticians.

Well, it still sounds like the establishment is onboarding the novelty.

TL;DR: The St. Louis Federal Reserve a brand new consumer price index that's tied to Bitcoin.

ANSWER TO YESTERDAY'S PUZZLE

Yesterday we tested your knowledge about Ethereum and their future plans.

Currently, they're implementing on the way to unlocking Ethereum's full power.

This journey consists of 6 major updates. We asked you about how's the final one called.

And, ironically, the answers really... diverged. Since 'The Diverge' was the most chosen one. And it wasn't the correct one!

Here are the 6 stages of Ethereum's journey:

• The Merge
• The Surge
• The Scourge
• The Verge
• The Purge
• The Splurge

Here, you can learn more about it in this highly-informative tweet by Vitalik himself.

SELECTED MEME OF THE DAY

BITE-SIZED NEWS

• DEX Uniswap Rolls Out Mobile Wallet on iOS for Users in Select Countries. At the time of writing, it is unclear in which countries exactly the mobile wallet is available.
• Gemini Moves Closer to Canadian Market with Pre-Registration Undertaking Filing. Following in the footsteps of Kraken and Binance
• Digital Asset Firm HashKey Group Rolls Out Wealth Management Business Line. It's a "offer a one-stop virtual asset management solution."