Bitcoin Bounces Back; Coinbase Beta-Tests NFT Market

Bitcoin grew 2% to $42,404 on Wednesday (April 20), in the process surpassing its 50-day moving average, an oft-cited technical level, Bloomberg reported.

Bloomberg quoted Teong Hng, chief executive of Hong Kong-based Statori Research, as saying, “Bitcoin is at very significant technical levels.”

Meanwhile, Coinbase says Coinbase NFT is in beta and live. Coinbase announced the launch in a blog post Wednesday.

After announcing the development of Coinbase NFT in 2021, the company stated in the post, “We learned that people don’t just want better tools to buy and sell NFTs: They want better ways to discover them, better ways to find the right communities, and better spaces in which they can feel connected with each other.”

The first version of Coinbase NFT may be found at nft.coinbase.com. At the site, Coinbase said, customers selected to take part in beta testing may find “the vast collection of NFTs on the Ethereum blockchain.”

Beta testers will be able to create profiles on the site and buy and and sell NFTS using the self-custody wallets of their choosing. The company said, “For a limited time, there’ll be no Coinbase transaction fees. We’ll eventually add fees, which will be in-line with Web3 industry standards.”