The cryptocurrency market is now worth over $3 trillion. Here are 5 things that happened in the space this past week

November 9, 2021 Blockchain

1. Over 5,000 people attend NFT.NYC conference
To celebrate their love for NFTs, or nonfungible tokens, over 5,000 people attended the NFT.NYC conference in Manhattan last week.

The highly anticipated event, which left 3,000 people on a waitlist, began on November 1 and ended on Thursday.

The week included 600 speakers on panels, as well as parties, dinners, raves, galleries and attractions. The people behind notable NFT collection Bored Ape Yacht Club threw an actual yacht party on the Hudson River, along with an owners-only concert by The Strokes at music venue Brooklyn Steel.

NFT enthusiasts, top crypto influencers and mainstream celebrities all attended, including director Quentin Tarantino, Reddit co-founder Alexis Ohanian, entrepreneur Gary Vaynerchuk and comedian Chris Rock, to name a few.

Throughout, attendees traded 700,000 event NFTs, according to CoinDesk.

2. ‘Squid Game’-inspired cryptocurrency crashes
A cryptocurrency inspired by Netflix’s hit TV series “Squid Game” crashed after its founders cashed out, CNBC reported on Tuesday.

The token, called SQUID, hit a high of just over $2,861 on Nov. 1 before plummeting to near zero, according to price-tracking website CoinMarketCap.