A poll from CNBC and American chemical company Momentive revealed that around 11% of people in the United States invest in cryptocurrency. 60% of investors cite long-term growth potential as the reason for their investment, while 44% cite the potential for high growth in a short period.

In an interview, Facebook executive David Marcus said that the social media giant is considering building products and features related to non-fungible tokens (NFTs) for its digital wallet Novi.

Budweiser, a subsidiary of Anheuser-Busch InBev, has become the latest brand to enter the NFT world after changing its Twitter profile picture to that of a rocket ship designed by NFT artist Tom Sachs.

Top stories in the Crypto Roundup today:

• 11% of People in the U.S. Invest in Crypto, Survey Shows
• Facebook is ‘Definitely Looking’ at NFTs for its Digital Wallet, Exec Says
• Budweiser Buys Beer.eth Domain and Rocket NFT For $120,000 in ETH
• Crypto Spotlight: Avalanche (AVAX)

11% of People in the U.S. Invest in Crypto, Survey Shows

A poll from CNBC and American chemical company Momentive revealed that around 11% of people in the United States invest in cryptocurrency. 60% of investors cite long-term growth potential as the reason for their investment, while 44% cite the potential for high growth in a short period.

The study surveyed 5,530 investors and found that one-third of those investing in the cryptocurrency space were drawn in by how easy it is to trade. Investors were notably not influenced by some of the typical narratives affecting cryptoassets.

44% of respondents said they did not know where BTC would be by the end of the year, while 21% said bitcoin would finish the year above its current price. 45% noted cryptocurrencies are a high-risk investment.

The survey also found 16% of men invested in crypto compared to 7% of women, with most investors being risk-averse.

Facebook is ‘Definitely Looking’ at NFTs for its Digital Wallet, Exec Says

Facebook executive David Marcus has said in an interview that the social media giant is considering building products and features related to non-fungible tokens (NFTs) for its digital wallet Novi.

Speaking to Bloomberg, Marcus said:

“We’re definitely looking at the number of ways to get involved in the space because we think we’re in a really good position to do so.”

David Marcus leads Facebook Financial, F2, an internal group developing the Novi digital wallet. The wallet could be used to hold NFTs and cryptocurrencies, and Facebook added that it is “definitely thinking” about “how to help consumers support NFTs.”

Marcus said Facebook’s digital wallet is now ready, but the company is waiting to launch it until it can do so alongside Diem, its digital currency previously known as Libra.

Budweiser Buys Beer.eth Domain and Rocket NFT For $120,000 in ETH

Budweiser, a subsidiary of Anheuser-Busch InBev, has become the latest brand to enter the NFT world after changing its Twitter profile picture to that of a rocket ship designed by NFT artist Tom Sachs.

Cryptocurrency watchers have also spotted the company purchased the Beer.eth domain name for 30 ether, equal to roughly $95,000. The company’s NFT was purchased for 8 ETH, worth around $25,000.

A spokesperson was quoted saying:

“Budweiser is taking its first steps into the NFT universe. We’re excited to support Tom Sachs and his Rocket Factory project and join this incredible community.”

The firm is also reportedly investing in an NFT media shop run by internet entrepreneur Gary Vaynerchuk. The shop is touted as a “long-term business play” by beer company executives.

Crypto Spotlight: Avalanche (AVAX)

The price of Avalanche (AVAX) has exploded after its decentralized finance (DeFi) sector saw popular decentralized exchange SushiSwap enter its $180 million incentive program, Avalanche Rush, which had already attracted lending protocol Aave and automated market maker Curve.

Moreover BENQI, an algorithmic liquidity market protocol on Avalanche, hit $1 billion in total value locked days after launch, showing how high demand is on the platform. The price of AVAX exploded from around $11 a month ago to now trade over $50.

What is Avalanche (AVAX)?

Avalanche is an open-source blockchain for launching decentralized finance applications and deploying enterprise blockchains in an interoperable and highly scalable ecosystem. It allows anyone to launch or trade any form of asset and control it using smart contracts.

Avalanche’s mainnet was launched in September 2020 and developers claim it can process over 4,500 transactions per second while offering transaction finality in under one second. Its transaction throughput makes it stand out among other blockchains, while it offers security thresholds well above the 51% standard.

The cryptocurrency uses Snowball, a Proof-of-Stake (PoS) consensus algorithm designed by Ava Labs that requires users to stake AVAX to become transaction validators, or to delegate their tokens to validators to participate.

State of the Crypto by Top Tier Exchange Volume

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