Ethereum (ETH) Can Be a Security, Solana (SOL) Loses NFT Position, Sparklo (SPRK) Emerges With Unique Use Case
As crypto enthusiasts clamor for clarification in the regulation of assets, the former commissioner of CFTX, Dan Berkovitz, has said that Ethereum (ETH) can be both a security and a commodity. In other news, Solana (SOL) has lost its position as the second biggest NFT blockchain, while the emerging Sparklo (SPRK) continues to steal the heart of investors as it offers a use case that has never been seen in crypto.
Sparklo (SPRK) entices investors with a unique use case
The cryptocurrency industry was built on innovation, with many of its investors’ prioritizing unique projects. This is why many investors are talking about Sparklo, a new project built on Ethereum with the goal of revolutionizing the multi-trillion-dollar precious metals industry (gold, silver, and platinum).
Sparklo is an alternative investment platform that will allow investors to purchase fractional non-fungible tokens (NFTs) that are backed by gold, silver, and platinum. Using fractionalization, Sparklo will allow investors who are unable to afford and access bars of gold, silver, and platinum to be able to purchase them. Sparklo will also provide liquidity to ensure investors always have a market to buy and sell these unique NFTs.
As a first of its kind in crypto, Sparklo received enormous support from investors in the first stage presale which was quickly completed. In its second stage, you can buy a Sparklo (SPRK) token for as low as $0.026 and receive up to a 50% bonus on purchases from now until May 27. The Sparklo team will be conducting an AMA with the community on June 5 to provide more information.
Ethereum (ETH) can be a commodity and security
The Ethereum (ETH) transition to Proof-of-Stake (PoS) started a legal status debate on what it should be classified as. Featuring on Laura Shin’s Unchained podcast on May 23, Dan Berkovitz, a former commissioner of the United States Commodities Futures Trading Commission (CFTC) has said that Ethereum (ETH) can be regulated as both a commodity and a security.
According to Berkovitz, by law, Ethereum (ETH) can be both. Amidst the regulatory tussle, the price of Ethereum (ETH) has been stuck under $1,900 for the last three weeks. Over the last 24 hours, the price of Ethereum (ETH) has tumbled by 2.1% and now trades at $1,815.
Solana (SOL) loses NFT position to Bitcoin
As the pioneer smart contracts platform, Ethereum (ETH) has remained the biggest blockchain for NTFs but was followed by Solana (SOL). However, with the recent launch of the BRC-20 token standard on Bitcoin, Solana (SOL) has now lost its position as the second-biggest NFT blockchain to Bitcoin.
According to data from CryptoSlam, in the last 30 days, over $173 million worth of NFTs have been traded on Bitcoin (BTC) compared to the $53.7 million on the Solana (SOL) blockchain. Solana (SOL) is now the third most popular NFT blockchain. However, investors are leaving the regular NFTs on Solana (SOL) to the more unique precious-metal-backed NFTs on Sparklo.
Find out about the Sparklo (SPRK) presale using the links below:
Website: https://sparklo.finance
Presale: https://invest.sparklo.finance
Twitter: https://twitter.com/sparklo_finance
Telegram: https://t.me/sparklofinance
