Ethereum's price fluctuations have been heavily influenced by its network upgrades, particularly the transition to Ethereum 2.0 and improvements in scalability. Additionally, the rise in DeFi activity and the growing NFT market have created increased demand for ETH, contributing to price volatility. Technical factors like support/resistance levels and network congestion also play a significant role in short-term price movement.
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An NFT (Non-Fungible Token) is a unique digital asset that represents ownership or proof of authenticity of a specific item or piece of content on the blockchain, often using Ethereum. Unlike cryptocurrencies like Bitcoin or Ethereum, which are interchangeable, NFTs are one-of-a-kind or limited in quantity, making them "non-fungible." In the digital art space, NFTs allow artists to tokenize their work, providing a new way to monetize and verify ownership. Collectors can buy, sell, or trade NFTs, and artists can also benefit from royalties on secondary sales. NFTs have revolutionized how digital art is bought and sold, creating a new marketplace for creators and collectors.
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To spot a legitimate airdrop, research the project’s website and social media channels for official announcements. Avoid airdrops that ask for personal information, like private keys, or require upfront payments—these are major red flags. Check the team behind the project; a credible project will have a transparent, verifiable team with a history in the crypto space. Be cautious if the airdrop promises unrealistic returns or makes exaggerated claims. Always cross-check with trusted sources or community reviews before participating to avoid falling for scams.
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