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  • Australian women’s football team secures $75M deal with Crypto.com
    Cointelegraph.com News - 6 hours ago
    Aside from being the first major crypto sports sponsorship in Australia, the deal will also be a first for women’s sports. In what comes as the first major crypto sports sponsorship deal down under, the Australia Football League (AFL) has secured a partnership with Crypto.com to back its women’s league (AFLW). The deal is worth close to $75 million over the next five years, a steep increase from the AFL’s existing $18.5 million sponsorship contract with Toyota. Crypto.com is a Singapore-based crypto exchange offering digital wallets and crypto-backed debit cards. The partnership will mark Crypto.com’s first time sponsoring an Australian sports team. It will also be its first time sponsoring an elite women’s sports competition worldwide, a milestone that AFL Executive General Manager Customer and Commercial Kylie Rogers said she’s “proud” to be part of. “The AFL is proud to be the first Australian sports league and elite women’s competition globally to work alongside an organization that shares our passion to progress the future of elite sport and technology.” Crypto.com general manager Asia & Pacific Karl Mohan says that the company was attracted by Australia’s relatively high number of women interested in crypto.“Our latest consumer research in Australia found that more than half (53%) of crypto investors were females,” he said.“It is very encouraging to see that Australians from all walks of life, irrespective of gender or background, are very keen to adopt cryptocurrencies, and we’re excited about being their go-to platform.”Back in August, CNBC released a survey that found that women are still less than half as likely to invest in cryptocurrencies than men, with 16% of men investing vs 7% of women.Related: Australian women owning crypto has doubled in 2021: SurveyCrypto.com has amassed a number of sports branding deals over the past months, totaling over $1.5 billion. In mid-Nov, the crypto company secured a $700 million deal to rename the Staples Center in Los Angeles to the Crypto.com Arena for the next 20 years. It also signed a $100-million sponsorship agreement with Formula 1 in late June and a $175 million sponsorship agreement with the UFC in July.
  • The Australian Open swings into the Metaverse on Decentraland
    Cointelegraph.com News - 7 hours ago
    A virtual recreation of Melbourne Park including the Rod Laver Arena and Grand Slam Park will be open for the duration of the AO tournament. Tennis Australia has partnered with Decentraland to host the Australian Open (AO), which will be the first official tennis grand slam in the Metaverse.A virtual recreation of key areas in Melbourne Park, including the Rod Laver Arena and Grand Slam Park, will be open for the duration of the Australian Open tournament, which will run for a fortnight beginning on Jan. 17. The event will include exclusive content for virtual visitors, including behind-the-scenes footage from over 300 cameras around Melbourne Park, including the exclusive player arrivals area and the practice village. As well as broadcasting live footage and AO radio, it will also feature archival footage from tennis matches dating back to the 70s and virtual meet-ups with tennis players including Mark Philippoussis, with other players yet to be confirmed.Tennis Australia NFT & Metaverse Project Manager Ridley Plummer said in a virtual welcome address on Decentraland that he hopes for the AO to become the “world’s most accessible and inclusive sports and entertainment event.”“With the unique challenges fans have faced getting to Melbourne, we’ve fast-tracked our launch into the Metaverse,” he said.“Taking the AO into the Metaverse is an important step to provide truly global access to our great event.”This is especially pertinent given travel restrictions due to the COVID-19 pandemic, making it very difficult for many fans to reach Melbourne to view the event in real life. The 2021 AO faced a range of challenges, including a historically low number of on-site spectators and lockdown restrictions. Despite the timely introduction of the partnership given the pandemic, Plummer says that the AO plans to continue to collaborate with Decentraland in the future. “We’re in it for the long term,” he said.“The Metaverse is not going anywhere, and as a company, we’re invested in continuing to grow our online presence and push the boundaries of innovation.”He also added that Tennis Australia is exploring the possibility of a year-round property in the Metaverse. “We definitely think of ourselves more as an entertainment event rather than just a tennis event. Whether we’re providing entertainment via the metaverse twelve months of the year or only a few months of the year, that’s definitely a decision to be made in our roadmap going forward.”Australian Open lands a sweet NFT partnership Meanwhile, on Jan. 17, the AO also announced it would be teaming up with NFT platform Sweet to release six NFT collections commemorating the last five decades of the AO. The collections will be released intermittently between Jan. 17 and 27 to coincide with the tournament. Tom Mizzone, CEO of Sweet said that the NFT release demonstrates a “truly new level of access” for fans to get a glimpse into the world of their idols. “We love this idea of turning IP into digital memorabilia and tying that memorabilia back to an experience,” he added.“The idea that the AO designed…
  • Propy rallies 227% as real estate NFTs become reality and PRO lists at Coinbase
    Cointelegraph.com News - 12 hours ago
    A listing at Coinbase and the upcoming sale of the first real estate NFT in the U.S. appear to be providing a boost to PRO price. Nonfungible tokens (NFTs) skyrocketed in popularity over the course of 2021 as the wider public became enthralled with projects like the Bored Ape Yacht Club and CryptoPunks, but these one-of-a-kind digital images are only scratching the surface of what NFT technology is capable of. One project focused on expanding the functionality of NFTs beyond the digital art space is Propy, a protocol focused on the integration of blockchain technology with the real estate sector by automating the closing process of home buying to make the entire process faster, simpler and more secure. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $1.12 on Jan. 12, the price of PRO moved 227% higher to hit a daily high at $3.67 on Jan. 14 as its 24-hour trading volume spiked 452% to $29.3 million. PRO/USDT 4-hour chart. Source: TradingViewThree reasons for the sudden surge in Propy price include the token being listed on Coinbase exchange, the successful completion of the first sale of a real estate NFT and growing potential of NFTs to be used in different use cases. The Coinbase bumpThe surge in the price of PRO on Jan. 14 was in large part due to the token listed on Coinbase, the largest cryptocurrency exchange in the United States. INV, LQTY, NCT and PRO are now live on https://t.co/iQARfimGvY & in the Coinbase iOS & Android apps. Coinbase customers can log in now to buy, sell, convert, send, receive or store.https://t.co/Yhm3KRFbAr pic.twitter.com/TFzIoqhQG4— Coinbase (@coinbase) January 13, 2022 Prior to the Coinbase listing, the PRO token was only available on a limited number of exchanges including Huobi Global, Bitrue and the decentralized exchange Uniswap. Coinbase is the second-largest cryptocurrency exchange by volume globally and the main exchange serving U.S.-based investors who have historically conducted the highest volume of cryptocurrency trading. The first real estate NFT in the U.S.A second development that is helping to boost the price and trading volume of PRO is the upcoming sale of the first real estate NFT in the United States. According to Propy founder and CEO Natalia Karayaneva, the reason Propy chose Florida for its first U.S.-based real estate sales include a crypto-friendly state government, positive future price growth and demographic statistics, a growing job market and the state’s 0% individual income tax policy. While the upcoming sale in Tampa marks the first real estate NFT sale in the U.S., Propy completed the first-ever NFT sale back in 2017 when TechCrunch founder Michael Arrington sold his Kyiv apartment for 36 Ether. Related: NFT sales and blockchain games continue to grow despite the recent market slump: ReportRising popularity of NFTs and blockchain technologyAnother reason for the building momentum behind Propy is the overall growth in awareness of NFTs and blockchain technology. The promise of integrating NFTs with things like house deeds and corporate contracts has been a…
  • 3 reasons why Harmony (ONE) rallied back to its all-time high this week
    Cointelegraph.com News - 14 hours ago
    Strong fundamentals, an influx of new users and a recently launched $300 million developer incentive are just a few reasons why ONE price is chasing a new all-time high. Bitcoin price is still a ways from its $69,000 all-time high but this isn’t stopping altcoins from moving toward new highs. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.13 on Dec. 4, the price of Harmony (ONE) has risen 163% to establish a new all-time high of $0.38 on Jan. 14 ONE/USDT 1-day chart. Source: TradingViewThree reasons for the growing strength of Harmony include an expanding ecosystem, the launch of multiple cross-chain bridges and developers interest in finding Ethereum network alternatives.ONE benefits from Harmony’s $300 million ecosystem development fundOne of the biggest boosts to the overall health of the Harmony ecosystem began back in September when the project launched a $300 million developer incentive program designed to help fund bug bounties, grants and the creation of 100 decentralized autonomous organizations (DAOs) on Harmony. Since the launch of the program, 23 DAOs have been funded and launched on the Harmony network with more currently in development. The incentive program has also helped attract multiple protocols to the Harmony blockchain in some of the most popular sectors of the ecosystem, including DeFi, payment platforms and nonfungible token (NFT) projects. 1/ @harmonyprotocol approves 21 more proposals for its $300M Ecosystem Fund DeFi: @epnsproject @AnChainAI @perpprotocol @freyalacryptoPayments: @Allbridge_io @MIM_Spell @klever_io @Trustee_WalletNFT: @TheDeFimons @KangaFinance @StoreyTheApp @NiftyRow And more ⬇️ pic.twitter.com/zxyl4Z3wWJ— Harmony (@harmonyprotocol) January 13, 2022 Cross-chain bridges help raise Harmony’s prospectsAnother reason for Harmony ‘s recent strength is the launch of several cross-chain bridges that connect the Harmony network with other Ethereum Virtual Machine compatible networks like Celer and Polygon. 1/ We are excited to announce that @CelerNetwork has extended support to @harmonyprotocol.ONE users can now use the multi-chain ‘cBridge’ to transfer $USDC and $WETH instantly and at a low-cost. More ⬇️— Harmony (@harmonyprotocol) January 12, 2022 On top of the most recent integration with the Celer c-bridge, which enabled the cross-chain transfer of USD Coin (USDC) and Wrapped Ether (wETH), Harmony launched a cross-chain NFT bridge as part of the Horizon bridge back in November of 2021. Most recently, the project revealed a collaboration with the L1 protocol Cosmos to create a bridge between the two rapidly growing ecosystems in an effort to further expand its interoperability and help scale cross-chain finance. 1/ We are glad to announce that we have approved a grant for @datachain_en to build a bridge between Harmony & @cosmos.Datachain’s experience in building interoperability solutions using trustless intermediaries is peerless. ONE step closer towards scaling cross-chain finance pic.twitter.com/27ueWWUkT0— Harmony (@harmonyprotocol) January 12, 2022 Harmony is also in the final stages of creating a native bridge to the Bitcoin network which is expected to be released before the end of Q1 2022.Related: ICON commits $200M to interoperability incentive fundNew users and ecosystem growth back record high TVLAnother bullish metric backing Harmony’s growth is its rising TVL,…
  • Top 5 cryptocurrencies to watch this week: BTC, NEAR, ATOM, FTM, FTT
    Cointelegraph.com News - 15 hours ago
    If Bitcoin breaks above $45,500, select altcoins like NEAR, ATOM, FTM and FTT could turn bullish in the short-term. Bitcoin (BTC) has stopped its decline and is attempting a recovery along with select altcoins. Some traders have been fearing a massive sell-off in Bitcoin but Capriole CEO Charles Edwards said that Bitcoin’s worst crashes have happened “due to miner capitulation (December 2018 and March 2020), when BTC fell below production costs.” However, the current production cost of Bitcoin was $34,000, which is well below the current price.In a sign that institutional investors remain bullish on the crypto sector even after the recent fall, Cathie Wood’s Ark Invest bought 6.93 million shares of the special purchase acquisition company that will merge with Circle, the principal operator of USD Coin (USDC) and the second-largest stablecoin in terms of market capitalization.Crypto market data daily view. Source: Coin360Another sign that the crypto markets are maturing is the fact that nonfungible tokens (NFTs) have not responded negatively to the fall in crypto prices. A recent report by DappRadar said that NFT trading in the first ten days of 2022 generated $11.90 billion compared to $10.7 billion in Q3 2021.Could Bitcoin continue its recovery and pull select altcoins higher? Let’s study the charts of the top-5 cryptocurrencies to find out.BTC/USDTThe bulls are struggling to propel Bitcoin above the 20-day exponential moving average ($44,415) for the past few days but a minor positive is that buyers have not given up much ground. This suggests that bulls are buying on every minor dip.BTC/USDT daily chart. Source: TradingViewIf buyers push and sustain the price above the 20-day EMA, it will signal a possible change in trend. The BTC/USDT pair could then rally to the 50-day simple moving average ($47,987) where the bears may again mount a stiff resistance. A break and close above this resistance could clear the path for a rally to $52,088.Contrary to this assumption, if the price fails to rise above the 20-day EMA, it will suggest that the sentiment remains negative and traders are selling on rallies. The bears will then attempt to sink the price below the critical support at $39,600. If they succeed, the pair could extend its downtrend.BTC/USDT 4-hour chart. Source: TradingViewThe moving averages have flattened out and the relative strength index (RSI) is just above the midpoint on the 4-hour chart. This suggests a range-bound action in the short term. The pair could remain stuck between $39,600 and $45,456.A break and close above $45,456 could tilt the advantage in favor of the bulls, signaling the start of a possible rally to $52,088. Alternatively, a break and close below $39,600 could indicate the resumption of the downtrend.NEAR/USDTNEAR Protocol’s NEAR token is in a strong uptrend. The price broke above the previous all-time high at $17.95 on Jan. 11, signaling the resumption of the up-move. The bears pulled the price back below $17.95 on Jan. 12 but the bulls bought this dip and reclaimed the level on Jan. 13.NEAR/USDT daily chart. Source: TradingViewBoth…
  • AI-generative art predicted to be next trend for NFT sector
    Cointelegraph.com News - 19 hours ago
    NFT art created by AI algorithms brings new meaning to nonfungible tokens, but can artificial intelligence be trusted to produce a new genre of art? Sales of nonfungible tokens, or NFTs, reached $25 billion in 2021, demonstrating that the sector is one of the most sought-after markets in crypto. Art NFTs, in particular, made a big impact last year with Christie’s reporting over $93 million in nonfungible token sales during its fourth annual Art+Tech Summit that took place this past August. While notable, much of the crypto art scene appears to be dominated by cartoons and memes, as projects like CryptoPunks and Bored Ape Yacht Club have taken center stage. Although these projects are some of the most successful to date, a new subset of NFTs is emerging based on advanced technologies and the human imagination. AI-generative NFTs become a new art genreKnown as “AI-generative NFTs,” these nonfungible tokens are becoming increasingly popular within the art community, along with those interested in emerging technologies like artificial intelligence, blockchain and the Metaverse. In order to create AI-generative NFTs, one would typically use generative adversarial networks, or GANs. These are algorithms that leverage computers to use data to train models to produce machine-made images resembling art. Claire Silver, an AI-collaborative artist, told Cointelegraph that AI-generative NFT art is a relatively new genre, noting that the basic principle is that art is created in tandem with some semblance of artificial intelligence, like GAN: “There are code-heavy options and completely code-free tools that anyone can work with. I use the latter in my work. Being able to work with an AI to bring your ideas to life is an experience like no other, it augments creativity in a way that feels like freedom, a type of play you haven’t experienced since you were a child.”In order to create AI-generative NFTs, Silver explained that she leverages a text-to-art generator called “Eponym.” Developed by the AI-generated art company Art AI, the Eponym tool allows users to create art based on their text of choice and then mint these creations directly to the largest NFT marketplace, OpenSea. “Cassandra Ex Machina” Source: Claire SilverEyal Fisher, co-founder of Art AI, told Cointelegraph that Eponym allows for any phrase to be transformed into a unique NFT art piece that will forever be etched onto the Ethereum blockchain as a visual representation. Fisher explained that Eponym was built on algorithms for personalized generated art that lets people create art by interacting with a computer. “Eponym is a collaborative NFT project. Users access it by coming to the website and typing any phrase or word into a text box. The AI then generates artwork based on the text entered.” Fisher added that each text prompt can only be generated once. “There is only one Eponym called ‘Bitcoin,’” he said. “$btc” image produced by Eponym. Source: EponymAlthough AI-generative art is a fairly new concept, Fisher shared that the first Eponym project sold out overnight on OpenSea, making it one of the largest collaborative art projects…
  • OCC Comptroller calls for federal collaboration with crypto intermediaries
    Cointelegraph.com News - 1 day ago
    Michael J. Hsu said that the mainstreaming of crypto has occurred despite regulatory and legal uncertainty, and a series of scams, hacks, and other disruptive events. The Acting Comptroller of the Currency, Michael J. Hsu, highlighted the need for collaboration and coordination with large crypto intermediaries to better understand the risks within the growing $2 trillion cryptocurrency market. Speaking at the Transatlantic Finance Forum on the topic of “The Future of Crypto-Assets and Regulation”, Hsu pointed out the various venues — crypto exchanges, nonfungible tokens (NFT) and metaverse — where anyone with an internet connection can invest, adding:“The mainstreaming of crypto has occurred despite regulatory and legal uncertainty, and a series of scams, hacks, and other disruptive events. For financial regulators like me, this presents a host of questions. Where should regulatory attention be focused? What should be done? By whom? And why?”According to Hsu, the Office of the Comptroller of the Currency (OCC) reminded banks to demonstrate capability before getting federal permission to engage in crypto activities. The acting Comptroller also highlighted the rising risks in crypto as the holders of USD-backed stablecoins trust that they can redeem their stablecoins for US dollars on demand, at par, with no questions asked:“What if, however, that trust were to waver or be lost? Stablecoin holders, knowing that the first to redeem would have the highest chance of getting their money back, would rationally redeem immediately.” Hsu calls for collaboration with crypto intermediaries to minimize the consequences of a loss of trust in crypto. “While banks and trust companies have a long and successful history of custodying and safeguarding assets, the technology underlying crypto and the associated governance with certain tokens present a host of novel issues warranting careful analysis and consideration,” he concluded.Related: US lawmaker hints at upcoming crypto legislation as Jerome Powell says Fed will release report on digital currency soonAt his confirmation hearing last week, Federal Reserve chair Jerome Powell confirmed that the agency will release a new report on digital currencies despite not being “quite where we needed to get it.”New digital currency legislation coming soon— Tom Emmer (@RepTomEmmer) January 11, 2022 As Cointelegraph reported, Powell highlighted ongoing changes in monetary policy, which is expected to address policy surrounding the possible rollout of a central bank digital currency in the United States:“The report really is ready to go and I would expect we will drop it — I hate to say it again — in coming weeks.”
  • 22-year-old Indonesian boy makes $1M by selling NFT selfies on OpenSea
    Cointelegraph.com News - 1 day ago
    Ghozali spent five years clicking selfies in front of his computer, which was later converted into NFTs and uploaded to OpenSea in December 2021. An Indonesian college student has reportedly become a millionaire by selling nonfungible token (NFT) versions of his selfies on the OpenSea NFT marketplace.Sultan Gustaf Al Ghozali, a 22-year-old computer science student from Semarang, Indonesia, converted and sold nearly 1,000 selfie images as NFTs. According to Ghozali, he took photos of himself for five years — between the ages of 18 and 22 — as a way to look back on his graduation journey.Uploading my photo into nft lolhttps://t.co/E3Q4sBmN26#NFT #opensea pic.twitter.com/rD51rdcpzp— Ghozali_Ghozalu (@Ghozali_Ghozalu) January 10, 2022 Ghozali selfies were taken sitting or standing in front of his computer, which was later converted into NFTs and uploaded to OpenSea in December 2021. The artist set the price for each NFT selfie at $3 without expecting interest from serious buyers. While monetizing his expressionless images, Ghozali said:“You can do anything like flipping or whatever but please don’t abuse my photos or my parents will very disappointed in me. I believe in you guys so please take care of my photos.”Ghozali’s OpenSea profile. Source: OpenSea.Going against his wildest expectations, Ghozali’s NFT offering blew up as prominent members of Crypto Twitter showed support by purchasing and marketing the offerings.Ghozali happened…the year of Gozali @Ghozali_Ghozalu pic.twitter.com/HKOw7FZddj— Arnold Poernomo (@ArnoldPoernomo) January 12, 2022 With the rising popularity, one of Ghozali’s NFT sold for 0.247 Ether (ETH) on Jan 14. worth $806 at the time of purchase, according to AFP. The young entrepreneur also adds a touch of personalization by providing some background information along with the selfies, which adds to the rarity of the NFT.every #NFT photo I take has a story behindThis photo was taken during the second corona vaccine https://t.co/pZfJKoKuc9— Ghozali_Ghozalu (@Ghozali_Ghozalu) January 11, 2022 At its peak, Ghozali’s selfie NFTs sold for 0.9 ETH, worth roughly $3,000, according to a Lifestyle Asia report. Ghozali’s collection subsequently reached a total trade volume of 317 ether, equivalent to more than $1 million. The young artist also made his first tax payment on the basis of this income through OpenSea.this is my first tax payment in my life https://t.co/VDa8KYYPGs— Ghozali_Ghozalu (@Ghozali_Ghozalu) January 14, 2022 Related: NFT sales and blockchain games continue to grow despite the recent market slump: ReportDespite the recent sluggish performance of the overall crypto market, the NFT marketplace and blockchain gaming industry continues to record high transaction volumes. As Cointelegraph reported, DappRadar data shows that the number of UAW connected to Ethereum NFT DApps grew by 43% since Q3 2021. In addition, the money generated by NFT trading went from $10.7 billion in Q3 2021 to $11.9 billion in the first ten days of 2022.
  • Binance CEO’s net worth hits $96B, Jack Dorsey launches BTC defense fund, Bill Miller apes into Bitcoin: Hodler’s Digest, Jan. 9-15
    Cointelegraph.com News - 1 day ago
    Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link.Top Stories This WeekBinance CEO CZ is the richest crypto billionaire at $96B: BloombergBloomberg has estimated Binance CEO Changpeng Zhao also known as CZ to be the 11th-richest person in the world at a net worth of around $96 billion, making him the wealthiest billionaire in crypto.However, Bloombergs tabulation excluded CZs personal holdings of crypto assets such as Bitcoin and Binance Coin, suggesting that the $96 billion could become much larger in the future.To make the list of the top 10 richest people, CZ will need to look under his sofa and find a spare $11 billion to surpass Oracle co-founder Larry Ellison. Topping the list is South African bad boy and Tesla co-founder Elon Musk, who has accumulated $263 billion on the back of the success of his heavily subsidized electric vehicle company.  Disney patents technology for a theme park metaverseDisney has obtained a patent that will enable the creation of personalized interactive attractions for its theme park visitors.The technology could reportedly be used to develop licensed, headset-free augmented reality attractions, involving such features as personalized 3D effects displayed on physical spaces across its parks that correspond with visitors’ journeys to different locations.The patent, dubbed the Virtual-world Simulator, was filed in the United States. It appears the move is part of Disneys broader push to enter the metaverse sector, with CEO Bob Chapek noting in a Q4 conference call last year:Well be able to connect the physical and digital worlds even more closely, allowing for storytelling without boundaries in our own Disney metaverse. Billionaire investor Bill Miller puts 50% of net worth in BitcoinFamous investor Bill Miller has now put 50% of his net worth in Bitcoin, as well as major industry firms like Michael Saylors MicroStrategy and BTC mining firm Stronghold Digital Mining.Miller was an early investor in Amazon, which he says still accounts for nearly 100% of the rest of his portfolio. He said hes been gradually accumulating Bitcoin since the price hit $30,000 in mid-2021.The investor stated that he no longer considers himself just a Bitcoin observer but rather a real Bitcoin bull. Miller initially bought his first Bitcoin back in 2014 when BTC was trading around $200 and then purchased a little bit more overtime when it became $500. Tonga to copy El Salvador bill making Bitcoin legal tender, says former MPFormer Tongan member of parliament Lord Fusitua outlined a bill for Bitcoin to become legal tender in the island nation. Fusitua stated that the countrys Bitcoin bill is almost identical to the one that was enacted in El Salvador.Fusitua, who currently serves as chairman of the Oceania chapter of the Global Organization of Parliamentarians Against Corruption, outlined five points in the roadmap for the bills adoption, predicting that it will pass in parliament around September or October,…
  • Finance Redefined: Vitalik bearish on cross-chain, dYdX decentralizing, Jan. 7–14
    Cointelegraph.com News - 1 day ago
    Vitalik Buterin outlined his views on a cross-chain blockchain world, dYdX announced plans for full decentralization in 2022, and Near Protocol raised $150 for Web3 tech — all coming to you in this week’s Finance Redefined. Welcome to the latest edition of Cointelegraph’s decentralized finance newsletter.Despite the market printing bearish numbers for a second consecutive week, the industry is not short of bullish fundamental news. Read on to hear about the most impactful DeFi stories of the last seven days.What you’re about to read is a shorter, more succinct version of the newsletter. For a comprehensive summary of DeFi’s developments over the last week, subscribe below.Vitalik is optimistic for multichain, not cross-chain, Web3 worldVitalik Buterin, a co-founder of Ethereum, shared a candid assessment of the security limitations in implementing fully functional cross-chain bridges within the blockchain industry.Buterin argued that storing assets on their native chain provides a higher level of security against 51% attacks than cross-chain activities, stating, “It’s always safer to hold Ethereum-native assets on Ethereum or Solana-native assets on Solana than it is to hold Ethereum-native assets on Solana or Solana-native assets on Ethereum.”My argument for why the future will be *multi-chain*, but it will not be *cross-chain*: there are fundamental limits to the security of bridges that hop across multiple “zones of sovereignty”. From https://t.co/3g1GUvuA3A: pic.twitter.com/tEYz8vb59b— vitalik.eth (@VitalikButerin) January 7, 2022 Sharing a series of examples to prove his thesis, Buterin noted that if a malicious entity attempted to launch a 51% attack on Ethereum, a transaction undertaken by an innocent party could be censored and/or reverted, but not blocked and not lost.In the most extreme cases, users’ funds would remain safe even if 99% of the protocol was compromised because nodes would overwhelmingly support the remaining 1% rule-following blocks and, therefore, govern the decision-making.In contrast, an incident of this kind operating on a cross-chain bridge between Ethereum and Solana, for example, would result in irreversible losses, Buterin argues. The problem compounds with the addition of chains.Let’s suppose a 51% attack occurs on a single of 50 chains. In that case, all of them become vulnerable in what he describes as a “systemic contagion that threatens the economy of that entire ecosystem.”dYdX strives to full decentralization in late 2022dYdX, the layer-two derivatives protocol, published the fourth iteration of its roadmap this week, presenting plans to develop the platform into an open-source, community-centric and fully decentralized operation later this year.The architecture operates on a dual-model in which sections of the protocol, such as staking and governance, are decentralized, while core functions such as the off-chain order book and matching engine are controlled by an in-house subsidiary, dYdX Trading Inc and supported by centralized servers such as Amazon Web Services.“There will no longer be central points of control or failure of the protocol,” representatives from the company stated following the v4 upgrade, assuring that “all aspects of the protocol that can be controlled will be fully controlled by the community.”Last month’s Amazon Web Service (AWS) technical outage highlighted the…
  • 2021: A year of mass adoption for cryptocurrencies in Brazil
    Cointelegraph.com News - 1 day ago
    2021 was a year of affirmation for the Brazilian crypto market with good news in the national stock market, the promise of a CBDC and Brazilian soccer joining the game. Throughout 2021, the Brazilian cryptocurrency market managed to distance itself from the police pages and finally win acceptance with the general public, whether in the financial market or even in the greatest national passion: soccer.Last year, Bitcoin (BTC) acted as a strong alternative to the Brazilian real that ended 2021 by breaking negative records and reaching a devaluation of 6.5% by December, making it the 38th worst currency in the world.In a year of ups and downs for Bitcoin, the biggest cryptocurrency hit a bottom of 167,000 real in January and soared along with global markets to 355,000 real in May. Faced with Bitcoin’s dip, the BRL/BTC pair was stuck below 200,000 reals until August, when it began to rise to a new historic high of 367,000 real on Nov. 8.Faced with the need for economic protection, Brazilians turned to crypto. 10 million Brazilians now participate in the crypto market, according to CoinMarketCap.In traditional financial markets, the Brazilian Stock Exchange debuted exchange-traded funds (ETFs) linked to Bitcoin and Ether (ETH). There are already five ETFs listed on B3, some of them positioned among the most profitable in the entire Brazilian stock market in 2021.The Central Bank of Brazil also announced new developments in the digital real, a central bank digital currency (CBDC), which could be launched as early as 2023. The Brazilian Central Bank also announced that it will continue working to incorporate blockchain technology into its services by carrying out a series of tests through a dedicated team at the monetary authority.In the Federal Congress, discussions on the regulation of cryptocurrencies in Brazil dragged on throughout the year, until in December, federal deputies approved Bill 2303/15, which establishes criteria for the regulation of cryptocurrencies in the country. The bill will be further discussed in 2022 in the House’s plenary session and later in the Federal Senate.There was tension among major players in the cryptocurrency market in Brazil in 2021, but also some good news. Brazilian exchanges went head-to-head with major crypto exchange Binance. Exchanges around the country worked with the Brazilian Cryptoeconomy Association to comply Binance to follow rules established by the Brazilian Securities and Exchange Commission, Federal Revenue Service and the central bank. The global exchange is still negotiating with Brazilian market regulators and the country’s financial authorities.Related: ‘Mecca of mining’: Brazil considers zero tax on green Bitcoin miningOn the other hand, Brazil’s largest exchange, Mercado Bitcoin (MB) — today one of Latin America’s crypto unicorns — expanded its operations in the country, entering the sporting world once and for all. MB also worked alongside Chiliz to make fan tokens more accessible to Brazilian fans, a novelty that was adopted by national football giants such as Corinthians, São Paulo, Internacional, Atlético-MG and Flamengo.The nonfungible token (NFT) market also reached Brazil with wide adoption and presence of Brazilian players in play-to-earn…
  • Bitcoin miners can take fresh 20% BTC price hit before capitulating, data shows
    Cointelegraph.com News - 1 day ago
    Production costs for miners are around $34,000, and together with transaction fees, miners need not worry about another $40,000 support challenge on BTC/USD. The Bitcoin (BTC) mining business is bigger than ever at current price levels, and new data shows just how unlikely a mass miner sell-off really is.As noted by popular Twitter account @venturefounder on Jan. 14, even at $42,000, the BTC/USD trading pair is around 20% above miners’ cost price.Miner capitulation behind “worst” BTC price dipsDespite falling a full $27,000 below all-time highs, BTC is more enticing than ever for miners. Hash rate, an estimate of the total processing power dedicated to mining, reached new all-time highs this week.Those concerned that a fresh BTC price dip could pressure miners into selling, meanwhile, received fresh assurances via data covering how much BTC/USD should trade at for them to break even.Referencing the BTC production cost indicator from Charles Edwards, CEO of asset manager Capriole, venturefounder revealed that the breakeven point currently stands at $34,000.”The worst dumps Bitcoin ever had were due to miners capitulation (December 2018, March 2020), when BTC fell below production costs, it is at risk for miner capitulation,” he added in comments. “BTC was at risk for miner capitulation at $30k in May. The current production cost is $34k, 20% below current price.”Bitcoin production cost annotated chart (screenshot). Source: @venturefounder/TwitterAs such, there is no reason for miners to sell thanks to the profitability — as well as future perspective — of their operations.In a Medium post about his indicator from 2019, Edwards additionally noted that transaction fees awarded to miners give them an additional cushion against spot price incursions below production cost.”Historically, the electrical cost to produce a Bitcoin has represented a price floor in the Bitcoin market price,” another insight reads.Mining shrugs off spot price moves this yearAs Cointelegraph reported, miners are indeed voting with their wallets as BTC consolidates below $50,000.Related: Bitcoin cycle is far from over and miners are in it for the long haul: Fidelity reportRather than selling, miners en masse have been accumulating BTC more this month and last than during the highs.This speaks both to a healthy balance sheet and resolve over the future — fears of economic difficulties on the horizon are not currently weighing on the mining sector.Bitcoin hash rate chart. Source: BlockchainGoing forward, current worst-case scenario estimates among well-known analysts foresee a BTC price floor no lower than $30,000.
  • Uruguay reportedly installs its first Bitcoin ATM
    Cointelegraph.com News - 2 days ago
    Uruguay’s first crypto ATM has been installed in the coastal city of Punta del Este, a major tourist attraction in the region. Uruguay has reportedly installed its first Bitcoin (BTC) ATM, making it the 11th South American country to publicly encourage crypto adoption. Prior to Uruguay’s involvement, South America hosted 79 ATMs, which represented 0.2% of global BTC ATM installations.According to Ámbito, Uruguay’s first crypto ATM was installed in the coastal city of Punta del Este, a major tourist attraction in the region. Uruguay’s first Bitcoin ATM was developed and installed in partnership with two local crypto companies — URUBit and inBierto. The crypto ATM in Uruguay currently supports withdrawal and deposits of five cryptocurrencies, namely — BTC, Binance Coin (BNB), Binance USD (BUSD), Ferret Token (FRT) and Urubit (URUB). FRT and URUB are in-house cryptocurrencies managed and distributed by URUBit and inBierto respectively. Adolfo Varela, the CEO of inBierto, confirmed that the initiative was 100% funded by the government of Uruguay. inBierto is a crypto investment platform, who is also a member of the Uruguayan Chamber of Fintech (Cámara Uruguaya de Fintech), a startup accelerator focused on the fintech sector. URUBit is a decentralized token created in Uruguay and deployed in the Binance Smart Chain (BSC).Data from Coin ATM Radar shows that Colombia leads the South American market with 31 crypto ATM installations to date, who is followed by Brazil and Argentina at 22 and 11 installations respectively.Other South American countries such as Ecuador, Venezuela, Aruba and Saint Kits and Nevis have also installed one crypto ATM. inBierto has not yet responded to Cointelegraph’s request for comment.Related: Uruguayan senator introduces bill to enable use of crypto for paymentsLast year, an Uruguayan senator introduced a draft bill seeking to regulate cryptocurrency and enable businesses to accept crypto payments.As Cointelegraph reported, senator Juan Sartori was not keen on adopting crypto as a legal tender. Instead, he suggested:“Today we present a bill that seeks to establish a legitimate, legal and safe use in businesses related to the production and commercialization of virtual currencies in Uruguay.”
  • Hong Kong begins discussions to introduce stablecoin regulatory framework
    Cointelegraph.com News - 2 days ago
    The Hong Kong Monetary Authority shared a list of eight questions to seek policy-related recommendations citing five possible regulatory outcomes — no action, opt-in regime, risk-based regime, catch-all regime and blanket ban. Hong Kong’s central banking institution, the Hong Kong Monetary Authority (HKMA), released a questionnaire to gauge public opinion on regulations for crypto-assets and stablecoins. The state-backed regulator intends to establish a regulatory framework by 2023-24.HKMA’s “Discussion Paper on Crypto-assets and Stablecoins” highlights the explosive growth of the stablecoin market in terms of market capitalization since 2020 and the concurrent regulatory recommendations put forth by international regulators including the United States’ Financial Action Task Force (FATF), the Financial Stability Board (FSB) and The Basel Committee on Banking Supervision (BCBS).Market Capitalization of Crypto-assets. Source: HKMAAccording to the HKMA, the current size and trading activity of crypto-assets may not pose an immediate threat to the stability of the global financial system from a systemic point of view. However, the discussion paper warned:“The growing exposure of institutional investors to such assets as an alternative to or to complement traditional asset classes for trading, lending and borrowing […] indicate growing interconnectedness with the mainstream financial system.”Market Capitalization of Major Stablecoins. Source: HKMA.Based on the above figure, HKMA’s paper shows that the global market capitalization stood at about $150 billion in December 2021, “representing about 5% of the overall crypto-asset market.” The regulator has also shared a list of eight questions to seek policy-related recommendations citing five possible regulatory outcomes — no action, opt-in regime, risk-based regime, catch-all regime and blanket ban:Possible policy options for regulating crypto-assets. Source: HKMA.HKMA expects stakeholders to submit their responses by 31st March 2022, and aims “to introduce the new regime no later than 2023/24.”Major jurisdictions’ regulatory stance towards stablecoins. Source: HKMA.On an end note, the regulator stated that payment-related stablecoins have a higher potential for being incorporated into the mainstream financial system or even day-to-day commercial and economic activities. As a result, the HKMA considers expanding the scope of the Payment Systems and Stored Value Facilities Ordinance (PSSVFO), a law that determines the legality of financial products. Related: Hong Kong real estate giant leads $90M raise for crypto bank SygnumComplementing the local government’s pro-crypto intentions, one of Hong Kong’s largest property developers Sun Hung Kai invested $90 million in Sygnum, a Swiss bank dedicated to digital asset holding. As Cointelegraph reported, the Series B funding round brings Sygnum’s post-money valuation to $800 million, marking a tenfold surge in consolidated revenues from 2021.
  • Altcoin Roundup: 3 ways blockchain technology could further mainstream in 2022
    Cointelegraph.com News - 2 days ago
    The trend of blockchain adoption is set to continue in 2022. Here are three sectors that are likely to pivot toward DLT solutions. 2021 was a breakout year for the cryptocurrency sector and this year is expected to see an extension of the “mass adoption” trend.Public awareness of blockchain technology is on the rise and a new cohort of projects designed to fill more niche roles in society are likely to emerge in the coming months. Three sectors that have the potential to see significant growth in 2022 are human resources (HR), employee payment solutions and platforms that serve the gig economy by offering corporate blockchain solutions.HR might pivot toward blockchain Human resource management is ripe for blockchain integration due to the security and data storage solutions offered. Blockchain would allow each employee to have a unique address where all pertinent information could be cryptographically stored. HR also deals with the recruiting and hiring of new employees, an increasingly difficult task in today’s world where the labor force participation rate stands at 61.9%, its lowest level since 1976.For blockchain-related jobs, the task becomes even more challenging due to the limited number of people with the knowledge and capabilities to work in the nascent sector. Keep3rV1 is one protocol that focuses on connecting employers with workers, and the decentralized job board is specifically designed to connect blockchain projects with external developers that provide specialized services. KP3R/USDT. 1-day chart. Source: TradingViewWhile Keep3rV1 focuses specifically on blockchain developer jobs, if the model proves to be a success, the concept could easily be expanded to serve a wider audience of job seekers and employers. Payroll also falls under the HR category and projects like Request (REQ) support a decentralized payments system where anyone can request a payment and receive money through secure means.This is an ideal setup for freelancers. Experimental platforms like Sablier Finance also offer workers the option to be paid for their labor in real-time rather than wait for the end of a payroll period to receive their paycheck in a lump sum. The gig economyRide-sharing services like Uber and Lyft and creator/freelance marketplaces like Fiverr were the bedrock of the gig economy. 2021 estimates show that 36% of the United States workforce participated in the gig economy either as their primary or secondary source of income. Data also shows that 55% of gig workers were also working a separate primary job. Current projections indicate that by 2023, up to 52% of the U.S. workforce will be actively working in the gig economy or will have done so at some point in their career, so it’s a growing field that could benefit from the integration of blockchain technology. One project that has already established its own freelancer job board is Chronos.tech (TIME), a blockchain-based recruitment, HR and payment processing protocol whose LaborX platform is similar to websites like Fiverr but conducts all transactions utilizing blockchain technology and smart contracts. TIME/USD 1-day chart. Source: CoinGeckoIn addition to the Chronos.tech, LaborX and PaymentX protocols,…
  • Bitfinex advises Ontario-based users to close accounts before March 1
    Cointelegraph.com News - 2 days ago
    The Ontario Securities Commission has been responsible for cracking down on crypto exchanges operating in the region, including Binance, OKEx, Bybit, KuCoin and Polo Digital Assets. In a Friday announcement, Bitfinex said it would be immediately closing the accounts for Ontario-based customers who have no balances on the platform. In addition, it planned to restrict access to those who do not have open positions in the exchange’s peer-to-peer financing market or open margin positions. Users who have balances or open positions on Bitfinex and are one of the roughly 15 million residents of Ontario — which includes Toronto and the nation’s capital city of Ottawa — “will no longer have access to any services” starting on March 1. The exchange advised customers to withdraw funds before the effective date.Though Bitfinex did not mention the Ontario Securities Commission, or OSC, the region’s financial watchdog has been responsible for cracking down on crypto exchanges operating in the area, including OKEx, Bybit, KuCoin and Polo Digital Assets. In December, the OSC issued a notice that Binance was not authorized “to offer trading in derivatives or securities to persons or companies located in the province” after the crypto exchange reportedly told its users it would be able to continue offering services in the region. Binance reportedly said there was a miscommunication on the issue.Related: Amid ongoing legal proceedings, Bitfinex announces Tether loan repaymentBitfinex has also been the target of U.S. regulators. In October, the Commodity Futures Trading Commission fined the crypto exchange and its sister company Tether $42.5 million, with Bitfinex allegedly facilitating “illegal, off-exchange retail commodity transactions in digital assets with U.S persons.” The Office of the New York Attorney General previously ordered the two firms to pay $18.5 million in damages and submit to periodically reporting on their reserves.Crypto exchange Bitfinex has announced users based in the Canadian province of Ontario will no longer have access to many of its services starting on March 1.
  • Stacks ecosystem becomes #1 Web3 project on Bitcoin
    Cointelegraph.com News - 2 days ago
    There were also 140,000 NFTs minted on the Stacks blockchain during its inaugural year. On the first anniversary of the launch of Stacks blockchain (STX), which seeks to make Bitcoin (BTC) programmable, the network achieved over 350 million monthly API requests, 40,000 Hiro (development tool for Stacks to build applications on Bitcoin) wallet downloads, and 2,500 Clarity smart contracts. According to a report by Electric Capital, a venture capital firm focused on cryptocurrencies and fintech, these statistics make Stacks the largest project on Bitcoin.More than 11,000 users earned more than 100 BTC rewards per month on Stacks due to its unique proof-of-transfer, or PoX, consensus mechanism. Miners bid BTC to verify transactions, execute smart contracts and mine new blocks on the STX blockchain and earn STX as rewards. Meanwhile, the BTC bids are sent to STX holders as rewards for performing tasks like running nodes. To date, the mechanism has delivered over $50 million worth of BTC rewards and surpassed $1 billion in total value locked.According to the report, there were also decentralized finance, or DeFi, advancements on BTC created through Stacks. These included the launch of wrapped BTC (xBTC), the Arkadiko borrowing and lending protocol, and Bitcoin Lightning decentralized swaps, allowing users to swap STX for Bitcoin, stablecoins and altcoins.The first projects to launch on Stacks were New York City’s and Miami’s CityCoins, generating $50 million for their respective city treasuries. Brittany Laughlin, executive director of the Stacks Foundation, issued the following statement regarding the milestone:The Stacks community has proven the incredible potential of smart contracts for Bitcoin, from DeFi to NFTs, city coins to philanthropic efforts, portable identity to new infrastructure, all in a single year. The technology and resources are all here. What happens next is dictated by visionary builders.
  • Dogecoin leaps 25% after Musk announces DOGE payments for Tesla merch
    Cointelegraph.com News - 2 days ago
    The bullish news comes months after the billionaire entrepreneur said DOGE was a better token to transact with than Bitcoin. Dogecoin (DOGE) prices rose substantially on Jan. 14 as Elon Musk announced that Tesla would start accepting it as payment for merchandise. Tesla merch buyable with Dogecoin— Elon Musk (@elonmusk) January 14, 2022 After the announcement, DOGE price jumped nearly 13%, hitting a 30-day high of $0.2150. Its upside move came as a part of a larger intraday rally that already was taking place before Musk’s Dogecoin tweet went viral. The DOGE price went up by over 25% on Jan. 14 before correcting lower to $0.1986 on profit-taking.DOGE/USD hourly price chart. Source: TradingViewBetter than BitcoinTesla’s integration of a DOGE payment option on its online shopping portal came almost a month after Musk shared his willingness to accept the cryptocurrency as payment on a test basis.At the center stage of Musk’s love for DOGE was its “better-than-Bitcoin” features, primarily as a payment option due to its lower electricity consumption. In excerpts from Musk’s statements to Time Magazine, he explained that:”Fundamentally, Bitcoin is not a good substitute for transactional currency. Even though it was created as a silly joke, Dogecoin is better suited for transactions.”The billionaire entrepreneur further stressed that Bitcoin’s cost per transaction is high while its transactional volume is low compared to DOGE. As a result, Bitcoin could be well off being a store-of-value asset. On the other hand, DOGE could keep on encouraging people to spend.What’s next for DOGE?The latest round of buying in the Dogecoin market somewhat subsided as DOGE tested a multi-month resistance trendline for a topside breakout.In detail, DOGE price rally was rammed into a descending trendline resistance that had been capping its upside attempts since May 2021. On Jan. 14, the trendline again became instrumental in sending DOGE from its intraday top of $0.2150 to $0.1958, as shown in the chart below.DOGE/USD daily price chart. Source: TradingViewMeanwhile, the Dogecoin’s 200-day exponential moving average (200-day EMA; the orange wave) also played a key role in limiting its gains on Jan. 14. Together, the resistance confluence hinted that DOGE price may pull back from its ongoing uptrend in the coming sessions. Related: Dogecoin creator slams Mozilla for pausing crypto donationsShould this happen, the token will look poised to test its 50-day EMA (the velvet wave) as support, with the possibility to extend its correction towards $0.1367 due to its recent history as support.DOGE/USD daily price chart. Source: TradingViewConversely, a decisive breakout above the descending trendline resistance and the 200-day EMA could have traders eye $0.30 as their next upside target in the Dogecoin market. The area surrounding the $0.30-level had earlier served as resistance.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
  • Going meta: Disney, Second Life and K-pop
    Cointelegraph.com News - 2 days ago
    Second Life creator Philip Rosedale returns to the fold, Disney’s patent for a “virtual-world simulator in a real-world venue” suggests an entry to the Metaverse, and Animal Concerts partners with South Korea-based Kakao’s Klaytn project. Following the announcement that Facebook’s parent company would be rebranding in a shift towards the Metaverse, many projects have started similar initiatives entering the virtual space, from buying property to testing the limits of what this universe has to offer. Visit Disneyland… in the Metaverse?The entertainment company behind some of the most popular theme parks in the world recently had a patent approved for a “virtual-world simulator in a real-world venue.” Though the Los Angeles Times reported that Disney had “no current plans” to use the simulator in the near future, the application does suggest Disneyland and Disney World guests may eventually see Metaverse attractions at one or more of the parks in the United States, Hong Kong, China, France and Japan. Disney World in Orlando, Florida. Source: PexelsThe tech would work by tracking visitors using their mobile phones and generating and projecting personalized 3D effects onto nearby physical spaces, such as walls and other objects in the park. According to the patent application, Disney’s possible foray into the Metaverse could “provide users with realistic and highly immersive individualized 3D virtual experiences without requiring those users to wear an augmented reality AR viewing device.”K-pop in the Metaverse?On Monday, Metaverse concert organizer Animal Concerts announced it had inked a deal with South Korean unicorn Kakao’s Klaytn network as part of a plan to increase its exposure to the country’s entertainment industry. Animal Concerts CEO Colin Fitzpatrick said that “Klaytn’s major goals are NFTs and Metaverse.”“Technical limitations prohibit how many people can actually attend a concert in the Metaverse,” said Fitzpatrick, referencing scalability issues. He aims to build a network of virtual venues across existing and new Metaverse platforms to host concerts with a variety of talent, seemingly including K-pop artists.Second Life creator returns as project goes metaLinden Lab, the company behind the virtual online world Second Life, announced on Thursday founder Philip Rosedale would be rejoining the project as a strategic adviser along with Metaverse team members of San Francisco-based VR company High Fidelity. According to the firm, the addition of the new and old talent would facilitate Second Life’s entry into the Metaverse.“Virtual worlds don’t need to be dystopias,” said Rosedale. “Big Tech giving away VR headsets and building a metaverse on their ad-driven, behavior-modification platforms isn’t going to create a magical, single digital utopia for everyone.”Launched in 2003, Second Life was one of the earliest virtual world experiences before the connectivity of modern social media platforms like Facebook, Twitter and Instagram. Rosedale departed as the CEO of Linden Labs in 2008 before going on to found High Fidelity in 2013. His return could mark a significant milestone for incorporating new Metaverse-themed ideas into established platforms:Philip Rosedale returning to Linden Labs (breaking news today) definitely reminds me of Steve Jobs in the 90s returning to Apple…
  • CoinMarketCap allegedly lists 3 fake SHIB contract addresses, Twitter firestorm ensues
    Cointelegraph.com News - 2 days ago
    “Do not purchase SHIB from these addresses as your funds will be irreversibly lost,” said the team at Shiba Inu. A bit Twitter drama ensued on Thursday, continuing well into Friday afternoon, when developers behind popular meme token Shiba Inu (SHIB) issued a statement alleging that CoinMarketCap had listed three fake SHIB contract addresses belonging to the Binance Smart Chain (BNB), Solana (SOL), and Terra Luna (LUNA) blockchains. The staff at Shiba Inu claimed that the addresses were unsafe and that CoinMarketCap had refused to correct the alleged mistake. At the time of publication, the contract addresses are still viewable on CoinMarketCap.Official Statement regarding the recent actions by @CoinMarketCap . pic.twitter.com/DXP2wZRhYC— Shib (@Shibtoken) January 13, 2022 Earlier in the day, CoinMarketCap issued a response claiming that the contract addresses listed on the page are wormhole addresses designed to facilitate cross-chain transactions. According to the popular crypto price-tracking site, the staff at Shiba Inu did not go through official channels to contact them and have reached out for greater clarification.Please note that the non-ETH contract addresses on this page @shibtoken are wormhole addresses, which are designed to facilitate cross-chain transactions of wrapped versions of this assethttps://t.co/IhbNBJkwnf— CoinMarketCap (@CoinMarketCap) January 14, 2022 While Shytoshi Kusama, volunteer project lead for Shiba Inu, did not comment on the issue, the developer retweeted a post from Twitter user @wenfloat, who said:”If you are going to allow scammers to add false contracts in our page (WE ARE ONLY ERC-20), you should delist SHIB. At least you won’t be collaborating with scams. You’ve ignored us for months; where’s your professionalism?”Shiba Inu is known for its stellar token gains over the past 12 months, as well as its (sometimes overly) enthusiastic investors. Last December, former SHIB influencer and Medical Q&A platform Ask the Doctor filed a lawsuit against Shytoshi Kusama, alleging libel, and threatened to reveal his personal identity in court. In response, the site lost approximately 10,000 followers out of 58,000 within hours and had its Twitter posts buried in a flurry of ridicule, along with hundreds of one-star reviews on TrustPilot (most of which have since been removed).
  • Cathie Wood’s ARK ETF reportedly buys 6.93M shares of SPAC merging with Circle
    Cointelegraph.com News - 2 days ago
    Ark Invest’s latest foray into the crypto sector focuses on stablecoin issuer Circle, which announced plans to merge with SPAC Concord Acquisition Corp. Cathie Wood’s Ark Invest has reportedly purchased 6.93 million shares of the special purchase acquisition company, or SPAC, that is merging with Circle, for $70.6 million through the company’s ARK Fintech Innovation exchange-traded fund (ETF). This purchase would represent a new position for the ETF, according to MarketWatch. Ark Invest’s ETFs have a history of bold purchases within the tech industry as indicated by their move to buy $80 million in Robinhood shares after the prices dipped back in October 2021. Wood is also bullish on crypto despite passing on buying the first Bitcoin futures ETF that same month. Circle is the principal operator of USD Coin (USDC), which is currently the second-largest stablecoin in terms of market capitalization. Circle announced its intentions to go public in July 2021 through a SPAC with Concord Acquisition Corp in a merger that would see the company valued at $4.5 billion. The merger was originally planned to finalize by the end of the fourth quarter of 2021, with the company being listed on the NYSE with the ticker “CRCL.” The move to go public came about as a response to the increasing concern posed by regulators regarding stablecoins. Regardless, the move was applauded overall by the crypto industry. Vladimir Vishnevskiy, co-founder of Swiss wealth management firm St. Gotthard Fund Management AG, noted as such and said; “[USDC] has been around since 2014, and is another example of an established player being rewarded for their input into the ecosystem.Stablecoins are still under regulatory scrutiny in the United States as lawmakers question the market’s transparency and reserve backing. U.S. lawmakers are currently looking to introduce new legislation on crypto within the coming weeks. 
  • 3 reasons why Near Protocol (NEAR) just hit a new all-time high
    Cointelegraph.com News - 2 days ago
    NEAR price enters price discovery following the successful completion of a $150 million funding round and exponential ecosystem growth. The layer one (L1) battle is starting to heat up again and multiple protocols have seen their token values rise in recent weeks as traders venture out to see what life is like outside of the Ethereum (ETH) network. One L1 protocol that has seen its token price climb to a new all-time high this week was NEAR, a community-run cloud computing platform focused on interoperability and lightning quick transaction speed.Data from Cointelegraph Markets Pro and TradingView show that, following a pullback that hit a low of $13.10 on Jan. 9, the price of NEAR climbed more than 50% to establish a new record high at $20.36 on Jan. 14. NEAR/USDT 4-hour chart. Source: TradingViewThree reasons that contributed to the growing strength of NEAR include the successful completion of a $150 million funding round, the success of the Aurora cross-chain bridge protocol and an expanding ecosystem of projects and developers working on the NEAR network. NEAR raises $150 million in funding roundThe most recent price spike followed an announcement that the team had successfully closed its latest funding round, raising $150 million from a variety of investors including Dragonfly Capital, a16z, Alameda and Circle Ventures. @NEARProtocol raises $150M to boost ecosystem growth! #NEAR has announced the close of a $150 million funding round led by @zhusu’s Three Arrow Capital.Participants included @MechanismCap, @a16z, @dragonfly_cap, #Alameda and many more.Learn https://t.co/DjilZpkYPH— NEAR Blockchain (@NEAR_Blockchain) January 13, 2022 NEAR plans to use the funds raised to accelerate the adoption of Web3 technologies via ecosystem funding, developing out regional hubs for the NEAR community to help raise awareness for the brand and by providing support to the projects building on the protocol. In addition to the communities established in Asia, Africa and Europe, NEAR is also looking to expand its reach to Latin America, Turkey and India. Aurora cross-chain bridgeA second factor behind the rise of NEAR over the past month was the successful launch of Aurora protocol. This platform is built on NEAR and it helps users and the decentralized applications that operate on the Ethereum network bridge to NEAR protocol.Aurora utilizes the Rainbow Bridge to facilitate the migration of assets between supported networks and has quickly become a popular protocol for cross-chain transfers with more than $732 million in total value locked, according to data from Defi Llama. As a result of the increased activity brought by the increased adoption of projects on NEAR and the migration of tokens from Ethereum, the daily transaction count on the NEAR network established a new record high of 721,061 transactions on Jan. 11.Daily number of transactions on NEAR. Source: NEARRelated: Which layer-one protocols will outperform in 2022?Ecosystem expansionA third development helping to boost the value of the NEAR ecosystem has been the growth of its developer community. There has been an increase in the number of projects launched or bridged to the NEAR network over the past two months.…
  • Price analysis 1/14: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, DOT, AVAX, DOGE
    Cointelegraph.com News - 2 days ago
    Right now, bulls are buying each dip and bears are selling the top of each rally, suggesting that BTC and altcoins will remain range-bound for some time. Bitcoin (BTC) and most major altcoins are facing selling at higher levels and buying on dips, indicating the possibility of a range formation. On-chain analysis firm Whalemap said that a “reclaim of $46,500 will look like a trend reversal,” for Bitcoin as the previous accumulation phase of 90,000 BTC was at this level.Fidelity Digital Assets said in its annual report that the “massive “ Bitcoin accumulation by Bitcoin miners suggests that the “Bitcoin cycle is far from over.” The report went on to add that more sovereign nations may “acquire Bitcoin in 2022 and perhaps even see a central bank make an acquisition.” Daily cryptocurrency market performance. Source: Coin360Switzerland-based financial institution SEBA Bank CEO Guido Buehler said in a recent interview that if the right counterparties and necessary regulations are in place, asset pools at SEBA may invest in Bitcoin at the right time. Buehler portrayed a bullish picture for Bitcoin, saying a rally to $75,000 was possible. Will Bitcoin and most major altcoins remain range-bound in the short term? Let’s study the charts of the top 10 cryptocurrencies to find out.BTC/USDTBitcoin turned down from the 20-day exponential moving average (EMA) ($44,681) on Jan. 13, indicating that bears continue to sell on rallies. The bears will now attempt to pull the price back to the strong support at $39,600.BTC/USDT daily chart. Source: TradingViewBoth moving averages are sloping down and the relative strength index (RSI) is in negative territory, indicating that the path of least resistance is to the downside. If sellers sink and sustain the price below $39,600, the BTC/USDT pair could extend the decline to $30,000.However, the bulls are unlikely to give up easily at $39,600. A strong rebound off the current level or from $39,600 will suggest accumulation at lower levels. The pair could then remain range-bound between $39,600 and $45,456 for a few days. A break and close above $45,456 will be the first indication that the correction may be over. The pair could then start its northward march toward $52,088.ETH/USDTEther’s (ETH) rebound off the support line of the descending channel on Jan. 10 could not even reach the 20-day EMA ($3,485) which suggests that demand dries up at higher levels.ETH/USDT daily chart. Source: TradingViewThe moving averages are sloping down and the RSI is below 40, suggesting that bears are in control. The sellers will now try to pull the price to the zone between the psychological level at $3,000 and the support line of the channel. A break and close below $2,652 will signal the start of the next leg of the downtrend.On the contrary, if the price turns up from the current level, the bulls will make one more attempt to push the ETH/USDT pair above the 20-day EMA. If they succeed, the pair could rise to the resistance line of the channel and later to the 50-day simple…
  • NFT sales and blockchain games continue to grow despite the recent market slump: Report
    Cointelegraph.com News - 2 days ago
    Gen Z and growing interest throughout Asia have helped NFTs to shine brightly amidst volatility, according to a report from DappRadar. January 2022 continues to be rough for crypto investors as current markets see turbulent fluctuations in the price of Bitcoin (BTC) and other cryptocurrencies. Some have attributed the slump to recent federal intentions to introduce new rate hikes, and the political turmoil in Kazakhstan, which significantly lowered the hash rate of Bitcoin. On Jan. 14, the price of Bitcoin dipped below $42,000 as traders continued to hold out hope for bullish signals. Nonfungible token (NFT) trading and blockchain games, on the other hand, seem to have resisted the dip. According to reports from DappRadar, NFT transactions continued to increase amid declining crypto prices. The report stated that “the number of UAW connected to Ethereum NFT DApps grew by 43% since Q3 2021.” Numbers from the report also show that the money generated by NFT trading went from $10.7 billion in Q3 2021 to $11.9 billion in the first ten days of 2022. Recent developments in the NFT space, such as the launch of the LooksRare marketplace, may have also contributed to this growth. The report also stated that “blockchain games continue to be widely used,” and noted that they “represent 52% of the industry’s usage.” Expanding metaverse developments alongside the growing success of the play-to-earn model have also strengthened the case for blockchain games to continue growing throughout 2022. The growing interest in NFTs and blockchain gaming during this market slump can partially be attributed to Chinese audiences, which coincides with the recent announcements from China that say that the country will begin developing its own non-crypto NFT industry. According to DappRadar’s report, “China is now the country with the most extensive user base…increasing 166% from the numbers registered in November.”Even though the United States is now second in terms of overall traffic, the country still saw 175,000 new users in the NFT ecosystem, a growth of around 38%. This comes in part from the growing interests among younger audiences as Millennials and Generation Z start to account for a higher percentage of traffic. DappRadar reported that “30% of its traffic came from users from this age group… [with millennials] growing from the 36% observed from last year.”
  • Crypto-focused software firm Lukka raises $110M, reaches $1.3B valuation
    Cointelegraph.com News - 2 days ago
    Lukka said it planned to use the funds for “aggressive growth and global expansion strategy” with its current customer base dealing in products related to the crypto space. Cryptocurrency accounting and data company Lukka said it had raised $110 million in a new funding round led by hedge fund giant Marshall Wace.In a Friday announcement, Lukka said it had completed a $110 million Series E funding round led by Marshall Wace, with participation from Soros Fund Management — a fund created by billionaire investor George Soros, Liberty City Ventures, S&P Global, and accounting advisor CPA.com. Lukka said it planned to use the funds for “aggressive growth and global expansion strategy” with its current customer base dealing in derivatives, decentralized finance and other products related to the crypto space.Lukka CEO Robert Materazzi said the crypto ecosystem had entered a “new phase of maturity,” with the firm aiming to address challenges from innovative technology in the industry. The company added the S&P Dow Jones Indices, major accounting firm RSM, and financial services company State Street to its list of customers in 2021.The crypto-focused software firm announced a $53 million raise in March 2021 and recently achieved unicorn status with a more than $1 billion valuation. Serving many active crypto funds, Lukka has reportedly processed $2.1 trillion in unique transactions to date.Related: Lukka Co-CEO explains how blockchain data saves on taxesFounded in 2014, the New York-based company focuses on offering blockchain and tokenized asset data to help businesses involved in the crypto space. Among Lukka’s products are tax solutions and data valuations as well as a digital asset content library.
  • Bukele’s Bitcoin trade raises El Salvador’s sovereign credit risk: Moody’s
    Cointelegraph.com News - 2 days ago
    The credit rating agency believes El Salvador’s Bitcoin experiment has elevated the country’s risk profile and could limit its access to foreign debt markets. El Salvador’s historic embrace of Bitcoin (BTC) could have negative consequences on the country’s sovereign credit outlook, according to Moody’s Investors Service. Moody’s analyst Jaime Reusche told Bloomberg this week that El Salvador’s Bitcoin gambit “certainly adds to the risk portfolio” of a country that has struggled with liquidity issues in the past. Under the leadership of President Nayib Bukele, El Salvador has recognized Bitcoin as legal tender and issued a state-run crypto wallet to facilitate payments, transfers and ownership. Along the way, El Salvador has amassed a treasure chest of 1,391 BTC, with President Bukele famously “buying the dip” on several occasions by using Bitcoin’s volatility to add to his country’s holdings. Buying the dip 150 new coins added.#BitcoinDay #BTC— Nayib Bukele (@nayibbukele) September 7, 2021 However, Reusche warned that accumulating more BTC would elevate El Salvador’s risk of default. “If it gets much higher, then that represents an even greater risk to repayment capacity and the fiscal profile of the issuer,” he said.PREDICTION: The El Salvador bitcoin bond will be ridiculously oversubscribed pic.twitter.com/2Kj0urm0SN— Pomp (@APompliano) November 23, 2021 In addition to downgrading El Salvador’s credit rating, Moody’s has warned that the country’s so-called Bitcoin volcano bond could limit its access to foreign bond markets. Proceeds of the volcano bond, which is expected to raise roughly $1 billion, will be used to fund El Salvador’s Bitcoin City project. Related: Tonga to copy El Salvador’s bill making Bitcoin legal tender, says former MPAttacks on El Salvador’s Bitcoin gambit by legacy financial institutions are nothing new. In November 2021, the Washington-based International Monetary Fund warned El Salvador against using Bitcoin as legal tender. Meanwhile, the World Bank has rejected the country’s request for assistance in implementing its Bitcoin Law over the cryptocurrency’s alleged environmental and transparency issues. Nevertheless, El Salvador has remained steadfast in embracing Bitcoin and in creating an attractive environment for crypto investors and entrepreneurs. Last week, finance minister Alejandro Zelaya said the country’s Bitcoin Law has already attracted foreign investment.
  • ICON commits $200M to interoperability incentive fund
    Cointelegraph.com News - 2 days ago
    The South Korean blockchain hopes to fund its interoperability technology to create new cross-chain applications. The ICON Foundation announced plans to launch an interoperability incentive program for 200 million ICX, or approximately $200 million at the time of publication. The foundation supports the development of the ICON network, South Korea’s largest public aggregator chain. The foundation said that it hopes this program will incentivize the ICON community and its partner networks to adopt ICON’s Blockchain Transmission Protocol, or BTP.The incentive program aims to distribute up to 200 million ICX tokens over a period of five years, primarily funded by the ICX reserve allocation raised during the 2017 token sale. ICON intends to attract development teams in other ecosystems to explore BTP’s cross-chain communication opportunities.The majority of the proceeds are planned to go towards developing new high-quality use cases for the BTP technology, while a share of it will go towards incentivizing the long-term adoption of BTP within existing protocols and communities, according to the company.BTP integration is currently underway with many blockchains including Binance Smart Chain, Polkadot, Kusama, Moonriver, Astar Network, Edgeware, Acala, NEAR and Harmony. Related: $300M incentive program backs 100% rally in Harmony (ONE) priceICON claimed that its incentive program is the first fund dedicated entirely to interoperability. Min Kim, the founder of the ICON Project, said in a statement that the goal is “not to fragment existing development communities,” but rather to create collaboration opportunities between them within the layer-two ecosystem.Scott Smiley, head of strategy at ICON Foundation, told Cointelegraph that security and decentralization are not alone in leading adoption, stating:“We’re confident that once users and developers interact with BTP, they’ll recognize the value of a chain-agnostic, scalable and uniquely secure protocol. This incentive fund will give the market the “nudge” it needs in order to start the snowball of adoption.”Related: Austrian gin makers to use blockchain to guarantee bottles’ rarityICON recently launched ICON 2.0, introducing an upgraded core blockchain engine, support for Java smart contracts, the interoperability technology BTP and updated tokenomics.
  • President Biden taps economists for Fed governors’ seats, Sarah Bloom Raskin as vice chair for supervision
    Cointelegraph.com News - 2 days ago
    According to the U.S. President, the three nominees have the “experience, judgment and integrity to lead the Federal Reserve and to help build our economy back better for working families.” The White House has officially tapped former Fed governor Sarah Bloom Raskin to serve as the vice chair for supervision for the Federal Reserve, as well as economists Lisa Cook and Philip Jefferson to fill two empty seats on its board of governors.In a Friday announcement, U.S. President Joe Biden said he had nominated Cook, an Obama-era economic adviser and Michigan State University faculty member, as well as Jefferson, a former research economist for the Fed, to the board of governors in addition to Raskin. Jefferson and Cook will take two of the vacant seats in the group of seven governors, with Jerome Powell and Lael Brainard nominated to serve as chair and vice-chair, respectively.According to the president, the three nominees have the “experience, judgment and integrity to lead the Federal Reserve and to help build our economy back better for working families.” He cited Jefferson’s and Cook’s decades of experience working on economic issues while saying Raskin was “among the most qualified nominees ever” for vice-chair for supervision. The vice-chair for supervision, as opposed to the vice-chair of the Federal Reserve’s board of governors, is a relatively new role within the government agency. Randal Quarles was the first to hold the position for the full four-term year from 2017 to 2021, shortly before resigning as a Fed board member in December. According to the Dodd–Frank Wall Street Reform and Consumer Protection Act, passed in 2010, the vice-chair for supervision “shall develop policy recommendations for the Board regarding supervision and regulation of depository institution holding companies and other financial firms supervised by the Board and shall oversee the supervision and regulation of such firms.”Many vacancies at the Federal Reserve, the result of terms expiring and board members resigning, have given President Biden the opportunity to shake up the agency’s leadership. This week, his picks for the Fed chair and vice-chair — Jerome Powell and Lael Brainard, respectively — testified before the Senate Banking Committee in advance of a vote before the full Senate. Should they receive more than 50 votes, Powell, Brainard and Raskin would serve as the Fed board’s leadership until 2026, with Cook and Jefferson serving 14-year terms.Related: US lawmaker hints at upcoming crypto legislation as Jerome Powell says Fed will release report on digital currency soonA significant change in leadership of some of the top financial regulators in the United States could have an impact on how the government looks at both crypto and blockchain. Both the Securities and Exchange Commission and the Commodity Futures Trading Commission will likely see a shakeup in 2022, with the expected departure of SEC commissioners Elad Roisman this month and Allison Lee in June. In addition, President Biden has not suggested he intends to re-nominate CFTC commissioner Dawn Stump prior to her term expiring in April.
  • Volcanos, Bitcoin and remittances: A Tongan lord plans for financial security
    Cointelegraph.com News - 2 days ago
    A former lawmaker from the island nation wants to use Bitcoin to secure his country’s financial security. A former member of the Tongan Parliament is behind a proposal to make Bitcoin (BTC) legal tender in the tiny Pacific nation of Tonga, following in the footsteps of El Salvador. It’s due for a vote in Parliament in May and the early signs are encouraging.Mataʻiʻulua ʻi Fonuamotu, Lord Fusitu’a told Cointelegraph that plans are in motion to use state-run volcano mining facilities to create wealth in Tonga. Tonga has 21 volcanoes. “That means one volcano for every 5,000 people.” He owns one volcano himself through his family’s hereditary land rights.The proposed Bitcoin mining operations would use the geothermal energy of the volcanoes to generate power. “It takes two megawatts of electricity to service 5,000 people. So 40,000 megawatts will service the entire national grid. Each volcano produces 95,000 megawatts at all times leaving much to spare,” says Lord Fusitu’a.“We will give every family hash huts. But, this is only 20,000 units, as there are only 20,000 families.” He suggests each volcano can generate $2,000 of Bitcoin each day, to be “gifted” to each family by the Tongan government.For an Island of 120,000 people, economies of scale matter and the average person stands to benefit greatly.Family Bitcoin hash huts:. Source: Lord Fusitu’aTonga needs $26 million for the cabling to build the operation, but the World Bank said Tonga didn’t have the collateral for that funding. Nevertheless, Tonga managed to raise the money through a Least Developed Countries grant. Given Lord Fusitu’a’s influence in local politics — and the fact he claims to own a volcano himself — he might just pull it off. Lord Fusitu’a also claimed to have negotiated a gratis offer of the mining tech, but he has not revealed the terms of the deal. Chinese companies such as Bitmain have much market share in this space. It is also possible that refugee mining operations from China’s recent ban could be headed to Tonga. For now, that remains a mystery.“For a nation-state, the math doesn’t change. The optimal state is for a state to have its own mining.”Related: Tonga to copy El Salvador’s bill making Bitcoin legal tender, says former MPWho is Lord Fusitu’a?Once a barrister before he was a politician, Lord Fusitu’a is a member of the Tongan nobility.Tonga is the only country in the South Pacific with a remaining indigenous monarchy. While it is a member of the Commonwealth, this was done so by choice in 1970. Tonga has never been colonized, despite pressures from imperial nations throughout history.Lord Fusitu’a decided to step down as MP in November 2021 after recovering from operations for serious medical conditions and living in New Zealand for three years, especially with Tonga closing its borders due to COVID-19. However, his cousin has taken his seat in the Tonga Parliament, so according to Lord Fusitu’a, his domestic legislative agenda remains intact.Two clinical deaths due to injury have informed his ambitious agenda at the Global Organization of Parliamentarians against Corruption, which…
  • Indian INX exchange reportedly plans to list Bitcoin futures ETF
    Cointelegraph.com News - 2 days ago
    The India International Exchange is reportedly looking to explore digital asset-based products despite local uncertainty. Despite the ongoing uncertainty about cryptocurrency regulation in India, local financial firms are backing new ventures aiming to launch Bitcoin (BTC) exchange-traded funds (ETF).Torus Kling Blockchain, a joint venture between Cosmea Financial Holding, a financial firm backed by former Reliance Capital CEO Sam Ghosh, and Kling Trading India, is preparing to launch Bitcoin and Ether (ETH) futures ETFs in India, The Economic Times reported Thursday.The company has signed a memorandum of understanding with India’s major stock exchange, the India International Exchange (INX), to launch crypto ETFs alongside investment products tracking major metaverse-related companies listed in the United States.According to the report, Torus Kling Blockchain is planning to set up the ETFs in the Gujarat International Finance Tec-City (GIFT City) by the end of the current fiscal year in India, or by the end of March 2022. The ETFs are subject to approval by India’s International Financial Services Centres Authority (IFSCA) and other regulators, the report notes.​​India INX CEO Venkataramani Balasubramaniam said that the stock exchange and GIFT IFSC are looking at “exploring the launch of digital asset-based products” and has already applied with the IFSCA under “regulatory sandbox.”“This is a part of our product innovation initiative to benchmark offerings with other international financial centers. We will be launching products in these new-age assets in compliance with the prevailing laws after receiving all required post regulatory approvals,” the executive noted.Cryptocurrencies are a new asset class that is a “tip of the iceberg” of the upcoming fintech innovation and adoption, Torus Kling Blockchain CEO Krishna Mohan Meenavalli said. “Exchange trade products allow trading through regular investment accounts, bypassing the hassle and security concerns of cryptocurrency exchanges,” he said.In late 2021, India’s Securities and Exchange Board reportedly approved Invesco Mutual Fund’s Invesco CoinShares Global Blockchain ETF Fund of Fund, aimed at investing in blockchain industry companies.Related: Pakistan’s central bank reportedly wants to ban cryptoThe news comes amid India INX aggressively extending to other markets, reportedly moving to allow local investors to access trading on Russia’s Moscow Exchange earlier in January. As previously reported, Russian financial giant Sber launched its own blockchain-related ETF tracking Coinbase and Galaxy Digital in late 2021.
  • Is Bitcoin (BTC) Price Heading Towards $115k By The End Of The Market Cycle?
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 1 hour ago
    The post Is Bitcoin (BTC) Price Heading Towards $115k By The End Of The Market Cycle? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide The global crypto market has been in turmoil, as mainstream cryptos have been stuck in the lengthening market cycle. Wherein the price projections of crypto assets have been capped to a narrow range. Traders from the business have been keen on the market cycle, as they have been longing for relief. The star crypto remains …
  • Solana (SOL)Price To Hit $1270 In 2022 If It Breaks These Fib Levels!
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 1 hour ago
    The post Solana (SOL)Price To Hit $1270 In 2022 If It Breaks These Fib Levels! appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide After revisiting the demand zone between $115 and $140, SOL is poised to break crucial Fib levels. Interestingly, the altcoin has extended correction in the same zone for more than a week indicating a strong consolidation phase. However, the footsteps confirm the current resilience would soon catalyze the price action.  Solana Price Poised For a …
  • Cardano Breaks Out of Consolidation! Will ADA Price Replicate Previous Rally to Smash $3?
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 1 hour ago
    The post Cardano Breaks Out of Consolidation! Will ADA Price Replicate Previous Rally to Smash $3? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide Cardano price is attempting to test the same $1.5 levels once again where-in it was rejected just before the end of 2021. Aiming at a ‘v-shape’ recovery, the asset is on the verge to test the same levels yet again. However, with the current spike, the possibility of getting rejected is pretty low as the …
  • Crypto Investment Platforms Must Adopt This To Expand Services
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 2 hours ago
    The post Crypto Investment Platforms Must Adopt This To Expand Services appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide DeFi apps, platforms, and protocols based on blockchain technology have managed to achieve synergies and collaborations that have rarely if ever existed in the centralized financial playing field. That’s thanks in part to the amazing innovations taking place in this still young arena, with some of the greatest minds pushing forwards the boundaries of what …
  • Cardano Flips Ethereum And Solana! Will ADA Price Make It To $2 By Weekend?
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 2 hours ago
    The post Cardano Flips Ethereum And Solana! Will ADA Price Make It To $2 By Weekend? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide The crypto-verse has always been full of surprises for folks from the business. This time around what has been surprising for the business is Cardano. This is back to its momentum from its state of dormancy, which had crippled the metrics of the last quarter of the previous year.  The present year has begun on …
  • MATIC And FTM Race To Power The DeFi Ecosystem! This Is Why BTC And ETH Will Underperform!
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 2 hours ago
    The post MATIC And FTM Race To Power The DeFi Ecosystem! This Is Why BTC And ETH Will Underperform! appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide As a consequence of the blood–bath seen across the crypto-verse, BTC and ETH has lost over 20% of their value in the past two months. Meanwhile, MATIC and FTM are up by over 50% in the same time frame.  The crypto fraternity has been complaining that the market pioneers BTC and ETH  are overly complicated, …
  • Bitcoin Price Consolidates, BTC Price Predicted To Surge 30% ! Here’s When
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 2 hours ago
    The post Bitcoin Price Consolidates, BTC Price Predicted To Surge 30% ! Here’s When appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide On Monday, January 17, Bitcoin started the third week of 2022 with losses. BTC is trading 0.7% low at $42,879, ETH is trading 1.4% lower at $3283. Most altcoins on the chart too are trading in red today. BTC Price Action BTC Price has risen past the $44,000 resistance level. Before sellers came in, BTC …
  • XRP Price Eyeing Massive Rally! XRP Better Performing Than BTC Says Analyst
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 9 hours ago
    The post XRP Price Eyeing Massive Rally! XRP Better Performing Than BTC Says Analyst appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide Over the last 24 hours of trading, the market has had a mixed bag of results. Bitcoin, the market leader, has dropped 0.33 percent, while Ethereum has lost 0.42 percent. With a gain of nearly 10%, Cardano (ADA) is the best performer today. XRP Price Action The XRP/USD is moving to retest support at $0.80, …
  • Fantom Heads Towards a Massive Recovery, New ATH Incoming for FTM Price!
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 19 hours ago
    The post Fantom Heads Towards a Massive Recovery, New ATH Incoming for FTM Price! appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide After declining for about two weeks, Bitcoin is now back and has surpassed the important levels. With the shift in BTC’s sentiment the overall market too traded in green and registered gains.  Bitcoin at the time of writing is trading at $42.709. Second largest cryptocurrency Ethereum is trading at $3289. Cardano has emerged as a …
  • The Shark Tank Star , Mark Cuban Includes These Altcoins In His Portfolio !
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 20 hours ago
    The post The Shark Tank Star , Mark Cuban Includes These Altcoins In His Portfolio ! appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide Mark Cuban, the Shark Tank star and millionaire, has revealed his crypto portfolio, which includes various non-fungible tokens (NFTs) and Ethereum-based altcoins (ETH).  The data exchange platform Ocean Protocol (OCEAN), cross-chain smart contract protocol Rarible (RARI), the governance token of the Olympus DAO (gOHM), and music streaming blockchain Audius are among Cuban’s top cryptocurrency holdings, …
  • One Ethereum Rival Will Follow Explosive Rallies of Solana (SOL) and Avalanche (AVAX), According to Top Crypto Analyst
    The Daily Hodl - 1 hour ago
    A closely followed crypto strategist and trader is unveiling one Ethereum (ETH) competitor that he believes will follow the epic 2021 rallies of smart contract platforms Solana (SOL) and Avalanche (AVAX). Pseudonymous trader Cantering Clark tells his 103,900 Twitter followers that he’s closely watching Near, a developer-focused blockchain designed for scalability and stability. According to […] The post One Ethereum Rival Will Follow Explosive Rallies of Solana (SOL) and Avalanche (AVAX), According to Top Crypto Analyst appeared first on The Daily Hodl.
  • Raoul Pal Unveils 2022 Price Predictions for Bitcoin (BTC) and Ethereum (ETH), Says One Crypto Sector Will Explode This Year
    The Daily Hodl - 3 hours ago
    Real Vision CEO Raoul Pal is unveiling his price targets for Bitcoin (BTC) and Ethereum (ETH) this year while naming one nascent crypto sector that he believes will do well in the coming months.  In a new Real Vision Finance interview, Pal says favorable macroeconomic conditions toward the end of the year could push Bitcoin […] The post Raoul Pal Unveils 2022 Price Predictions for Bitcoin (BTC) and Ethereum (ETH), Says One Crypto Sector Will Explode This Year appeared first on The Daily Hodl.
  • Litecoin (LTC) Whales in Longest Accumulation Streak Since 2017: Crypto Intelligence Firm Santiment
    The Daily Hodl - 12 hours ago
    Leading crypto intelligence firm Santiment is revealing some bullish on-chain metrics that are developing for Litecoin (LTC) behind the scenes. LTC is trading at $148 at time of writing, down 64% from its all-time high of $410 in a hard downtrend. Despite this, Santiment says crypto whales may have other plans for the early Bitcoin […] The post Litecoin (LTC) Whales in Longest Accumulation Streak Since 2017: Crypto Intelligence Firm Santiment appeared first on The Daily Hodl.
  • 30% Rally for Bitcoin Is Likely Just Around the Corner, According to Crypto Analyst Justin Bennett
    The Daily Hodl - 14 hours ago
    Widely followed crypto analyst Justin Bennett says that a sizeable rally for Bitcoin (BTC) is a very likely scenario in the coming days. In a new strategy session, Bennett takes a look at patterns in BTC’s historic price action that he says show a 20-30% rally is coming up for the largest crypto asset by […] The post 30% Rally for Bitcoin Is Likely Just Around the Corner, According to Crypto Analyst Justin Bennett appeared first on The Daily Hodl.
  • Cathie Wood’s ARK Invest Opens Position in Company Merging With Stablecoin Giant Circle: Report
    The Daily Hodl - 15 hours ago
    Veteran hedge fund manager Cathie Wood’s ARK Invest is buying up shares of a special-purpose acquisitions company (SPAC) that is merging with a prominent stablecoin firm. According to a report from MarketWatch, Wood’s ARK Fintech Innovation exchange-traded fund (ETF) spent $705,820 on 69,300 shares of Concord Acquisition Corporation (CND), a SPAC that recently announced it […] The post Cathie Wood’s ARK Invest Opens Position in Company Merging With Stablecoin Giant Circle: Report appeared first on The Daily Hodl.
  • Chainlink (LINK) Has Nothing but Bullish Times Ahead, According to InvestAnswers – Here’s Why
    The Daily Hodl - 17 hours ago
    A popular crypto strategist says that Chainlink (LINK) is on track to move upwards despite its underwhelming performance in the market last year. In a new interview with crypto analyst Benjamin Cowen, the host of financial education YouTube channel InvestAnswers explains his bullish outlook for the decentralized oracle network.  “This is the oracle that has […] The post Chainlink (LINK) Has Nothing but Bullish Times Ahead, According to InvestAnswers – Here’s Why appeared first on The Daily Hodl.
  • Investment Giant Fidelity Says Countries That Adopt Bitcoin Early May Outperform Their Peers: Report
    The Daily Hodl - 19 hours ago
    Financial services giant Fidelity says that more nations will buy Bitcoin (BTC) this year to remain competitive. In a new report, strategists at the firm say that a high-stakes form of game theory is in play and countries who don’t adopt the top crypto asset by market cap early could fall behind their peers. “If […] The post Investment Giant Fidelity Says Countries That Adopt Bitcoin Early May Outperform Their Peers: Report appeared first on The Daily Hodl.
  • Bitcoin Looking Great, but XRP May Soon Take the Spotlight, Says Top Crypto Analyst
    The Daily Hodl - 22 hours ago
    A closely followed crypto analyst says that XRP may be ready to steal the show after holding strong macro support during the latest market-wide pullback. The pseudonymous strategist known as Credible Crypto tells his 295,000 followers that Bitcoin (BTC) looks great and won’t face any real tests until the $45,000 mark, which is about $3,000 […] The post Bitcoin Looking Great, but XRP May Soon Take the Spotlight, Says Top Crypto Analyst appeared first on The Daily Hodl.
  • Macro Guru Raoul Pal Says Terra (LUNA), Avalanche (AVAX) and Three Additional Altcoins Will Shine in 2022
    The Daily Hodl - 1 day ago
    Real Vision CEO Raoul Pal says that five altcoins will perform well this year as he expects layer-1 altcoins and interoperable blockchains to shine. In a new interview with CoinMarketCap’s Jessica Walker, Pal says that Bitcoin (BTC) and Ethereum (ETH) act as “base investments,” each for their own reason. “I look at it in terms […] The post Macro Guru Raoul Pal Says Terra (LUNA), Avalanche (AVAX) and Three Additional Altcoins Will Shine in 2022 appeared first on The Daily Hodl.
  • This Altcoin Will Be the ‘Google’ of Crypto, According to SkyBridge Capital Founder Anthony Scaramucci
    The Daily Hodl - 1 day ago
    SkyBridge Capital founder Anthony Scaramucci says that Algorand (ALGO) will challenge leading competitors in the crypto industry just as Google did in the early days of the internet. In a new interview with Digital Asset News, Scaramucci says that he is investing heavily in ALGO because he thinks it will replace many of its competitors. […] The post This Altcoin Will Be the ‘Google’ of Crypto, According to SkyBridge Capital Founder Anthony Scaramucci appeared first on The Daily Hodl.
  • Tory Lanez Is Releasing His NFT Collection With Decentar Labs
    ZyCrypto - 1 hour ago
    17th January 2022, Tallinn, Estonia – Canadian rapper, singer, and record producer Tory Lanez has unveiled his first-ever NFT collection with Decentar Labs, an NFT platform using non-fungible tokens and cryptocurrency to create value for the various spaces where blockchain technology needs to reach. His first collection, known as 3NITY, was launched on 14 January.  […]
  • Cuprum Coin Signs Listing Contracts With 3 Exchanges, Market Launch In February/March
    ZyCrypto - 1 hour ago
    On October 8th, Cuprum Coin s.l.l.c. launched the pre-sale phase of its commodity-backed cryptocurrency, with an underlying asset worth over US$60 Billion, and attracted over 73,000 unique visitors and almost 14,000 registered users until November 26th. Although the pre-sale was closed on November 26 as planned, the company decided to reactivate it on December 23, […]
  • Why Cardano Proves To Be The Crypto To Watch In 2022 As Transaction Volume Skyrockets
    ZyCrypto - 2 hours ago
    Cardano continues to grow by leaps and bounds ousting its long-time rival, Ethereum to become the number two blockchain by transactional volume. In the last 24 hours, the cryptocurrency has had a higher transaction volume compared to Ethereum. According to the latest data by Messari.io, Bitcoin was leading with a $16.87B closely followed by Cardano […]
  • Cardano IDO LaunchPad “Coollaunch” Records Buzzing Progress as it Sells Out Over 11% Of $COOL Tokens Within Days
    ZyCrypto - 12 hours ago
    Coollaunch after 12 Days of seed sale is pleased to announce the sale progress of the Seed Sale which was kicked off on the 11th of January, 2022. The Sales which is bringing the desired COOL BUZZ has already Generated 11% of the $COOL tokens allotted for the Sale Round. Coollaunch when launched will host […]
  • Retail Giant Walmart Plans To Create Its Own Cryptocurrency And Collection of NFTs
    ZyCrypto - 13 hours ago
    Walmart, the world’s largest company by revenue, appears to be positioning itself for a venture into the world of crypto and non-fungible tokens (NFTs). The company is also laying the groundwork to create its own cryptocurrency to contend with the likes of Bitcoin and Ethereum. Walmart Prepares For The Metaverse Walmart could be the next […]
  • SEC’s Gensler On How Securities Laws Apply to Cryptocurrencies
    ZyCrypto - 13 hours ago
    Gary Gensler is back, and guess what? Crypto users might have to brace tighter for what he has in store for them in 2022. Speaking to CNBC earlier last week, the SEC chairman vowed to deal with the crypto “wild west”, stepping up 2021’s regulation efforts through the enactment of laws and scrutiny structures. Gensler […]
  • Elon Musk And Tesla Reignite Hopes Of Dogecoin Reaching $1 In 2022 As Rumors Of A Starlink Collaboration Swell
    ZyCrypto - 17 hours ago
    Dogecoin soared over 17% few hours after Elon Musk announced payment acceptance of DOGE for Tesla merchandise. Tesla’s store records massive ‘sold out’ on many items. DOGE briefly reclaimed $0.2 resistance hours after Elon’s tweet. Two days ago, the CEO of Tesla, Elon Musk, announced on Twitter that the company has started accepting Dogecoin as a […]
  • Exohood Launches Its Own Merch Store!
    ZyCrypto - 17 hours ago
    Exohood has been around for over nine months, and a vibrant community has built up around the site. Many fans keep coming back for long discussions about launching our merchandise store. This year, as this was already part of our Whitepaper V1, we have finished it and officially launched our merchandising store. You can find […]
  • The IRS Hopes To Recover Billions In Taxes From Evading NFT Traders
    ZyCrypto - 17 hours ago
    According to a recent report by Bloomberg, the Internal Revenue Service now hopes to net Billions of Dollars in taxes from evading NFT traders. Shilled as the hottest sector now in the crypto ecosystem, the Non-Fungible Tokens (NFTs) market share has been spiraling at an unprecedented rate raking in Billions of dollars, most of which […]
  • Ravendex Reserves An Earth Node With World Mobile Token As They Aim To Provide Internet Access In Africa
    ZyCrypto - 17 hours ago
    Ravendex announced that it has collaborated with World Mobile Token to reserve an Earth Node.  The Ravendex team feels the project will help bring internet access to remote areas in Africa, and we are glad to be involved. In June 2022, World Mobile will offer affordable mobile internet services using blimps. The model is an […]
  • “80% Of The Investments That I Make Are In Or Around Cryptocurrencies.” Asserts Mark Cuban
    ZyCrypto - 18 hours ago
    Mark Cuban is loading up his portfolio with crypto-related investments “in case money goes to hell.” In a recent interview on “The Problem With Jon Stewart” podcast, the Dallas Mavericks boss revealed that 80% of his investments were crypto-related. “80% of the investments that I make that are not on ‘Shark Tank’ are in or around […]
  • Himo World NFT Metaverse Gears Up For IDO
    ZyCrypto - 18 hours ago
    Himo World is just over a week away from its initial DEX offering (IDO) that will see the project’s eponymous native token go on sale across no fewer than five Launchpad’s. An NFT-based strategy game that compels players to build battle decks composed of different in-game characters and square off against other gamers, Himo World […]
  • El Salvador’s Bitcoin Use Adds To Its Risk Portfolio, Says Top Credit Rating Firm
    ZyCrypto - 21 hours ago
    El Salvador’s bitcoin adoption could make it difficult for the country to access international loans. Its actions could hurt its chances of obtaining international loans.  The country’s policy has been aggressive and attracted a lot of detractors.  Market analysis giant Moody’s says El Salvador’s credit score may suffer due to its Bitcoin adoption.  El Salvador […]
  • Massive Bitcoin Outflows Rock Crypto Exchanges As Charts Signal Extreme Bullish Winter
    ZyCrypto - 1 day ago
    Bitcoin continues to exude strength despite the price being 38% below its all-time high. This strength is however being attributed to several reasons that experts argue are key recipes in igniting a sustained bull run this winter. Bitcoin Outflows Surge One glaring development has been the abrupt rise in Bitcoin outflows this week. According to […]
  • Interview with KwikTrust Executives on the Future of E-validation, NFTs and How KwikTrust is Uniquely Positioned to Capitalize
    NewsBTC - 1 hour ago
    KwikTrust is a next-generation e-validation platform that provides more secure file validation and management than ever possible before.  The platform is also home to the SuperNFT, enabling a unique class of NFTs that raise the bar for security, identity, provenance and ultimately trust, opening the door for new asset classes across finance, deeds of ownership, and intellectual property. KwikTrust’s vision is to become the global standard for managing and transferring assets in the digital world. We had the opportunity to sit down with the KwikTrust executive team to discuss the e-validation platform, the world of NFTs and how KwikTrust will be leading its future with SuperNFT. Q: Tell us about the origin story of KwikTrust and where you stand today.  Simon Read, CEO: I was working on a project to buy another business and we were going through the due diligence process which was extremely slow and laborious. The sheer volume of data to collate, review and validate with third parties made the process inefficient and expensive. I thought there must be an easier way to do this! At the same time, I was starting to get interested in blockchain technologies and potential use cases so I joined the Oxford Blockchain Strategy Programme to learn more. Blockchain is just such a perfect solution to validate the information and create a tamper-proof record. Coupled with the dawn of NFT technologies we are really at the start of some very exciting possibilities for how people can create and transfer digital assets in the future. In the case of KwikTrust, we tested the business assumptions with a law firm who suggested we also add in a KYC step to validate the identity of the person creating the asset and record that on the blockchain too. From there we saw the opportunity to lock together the owner’s validated identity together with the provenance of the asset they created to form a transferable NFT. We call this the SuperNFT as it is more secure than the traditional ‘old school’ NFT as it can’t be lost or stolen, and it has the potential to open up new asset classes. We also filed a patent application for the SuperNFT. KwikTrust’s vision is to become the global standard for managing and transferring assets in the digital world. We launched our MVP last June and now have several hundred registered users who are pilot testing with us. Looking ahead we will be issuing the KwikTrust KTX utility token in Q1, and have a slew of partnership announcements over the coming weeks culminating in the minting of the world’s first SuperNFT which we plan to do at a major NFT conference in March. Q: What are the current challenges plaguing the NFT space that is holding the industry back? Simon Read, CEO: We are seeing some really exciting growth in NFT markets but this has been largely restricted to the realm of digital artworks. For the NFT to reach its full potential it needs to extend into new asset classes,…
  • TA: Why Ethereum At Risk of Fresh Decline, $3,200 Holds The Key
    NewsBTC - 3 hours ago
    Ethereum struggling to clear the $3,400 resistance against the US Dollar. ETH price is holding the $3,250 support, but there is a risk of more downsides. Ethereum started a downside correction from the $3,400 resistance zone. The price is trading below $3,300 and the 100 hourly simple moving average. There was a break below a key rising channel with support near $3,320 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it stays above the $3,250 support zone. Ethereum Price Corrects Lower Ethereum made another attempt to clear the $3,400 resistance zone. ETH failed to gain strength and corrected lower from the $3,391 swing high. There was a break below the $3,320 and $3,300 support levels. Ether price even settled below $3,300 and the 100 hourly simple moving average. Besides, there was a break below a key rising channel with support near $3,320 on the hourly chart of ETH/USD. A low is formed near $3,238 and the price is now correcting higher. There was a break above the 23.6% Fib retracement level of the recent decline from the $3,391 swing high to $3,238 low. On the upside, an immediate resistance is near the $3,300 level and the 100 hourly simple moving average. It is near the 50% Fib retracement level of the recent decline from the $3,391 swing high to $3,238 low. Source: ETHUSD on TradingView.com The first major resistance is near the $3,320 level. A clear move above the $3,320 level might start another increase in the near term. The next major resistance is near the $3,400 level, above which ether price could gain bullish momentum. In the stated case, the price could test $3,550 level in the near term. More Losses in ETH? If ethereum fails to start a fresh increase above the $3,300 level, it could continue to move down. An initial support on the downside is near the $3,250 level. The first key support is now forming near the $3,200 level. A downside break below the $3,200 level might push the price further lower. Any more losses could lead the price towards $3,000. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bearish zone. Hourly RSI – The RSI for ETH/USD is below the 50 level. Major Support Level – $3,200 Major Resistance Level – $3,320
  • The World’s First Decentralized Bond Market Has Arrived
    NewsBTC - 5 hours ago
    By 2021, Statista found that there were over nearly 6,000 cryptocurrencies in existence, a staggering increase from the handful of digital tokens in 2013. With the rapidly evolving and expanding cryptocurrency industry, It’s no wonder that the amount of tokens has been skyrocketing. Alongside the rise in tokens, there has also been an acceleration in the number of investment platforms within the cryptocurrency ecosystem. Although there are many platforms, many come with issues, including lock-up periods, lack of transferability from platform-owned wallets, and large transaction costs. Additionally, being a liquidity provider in the Ethereum network, withdrawal fees can significantly take away from the profits investors are receiving. As the industry continues to reach new heights, technology is adjusting and evolving to keep up with the changing needs of the market. One platform that is addressing some of these issues is SuperBonds, the very first DeFi bond market. It’s built on Solana, a blockchain that operates without the traditionally high fees. Bonds allow investors to loan borrowers, like companies or a government, who use the cash towards funding their operations, while the investor receives interest on the investment. They are a popular investment choice, especially in traditional finance, as they are typically a low-risk option and return on average around 5% annually. They are commonly invested into diversified portfolios as they offset riskier investments, however, they often come with hefty fees. SuperBonds allow DeFi investors to buy bonds and have a guaranteed return in $USDC. It also allows users the freedom to store their investment in whichever wallet they want; they can self-custody it in any wallet of their choosing. SuperBonds circumvents the high transaction costs by making use of the low-fee Solana network. Additionally, many CeFi (centralized finance) products in the cryptocurrency space today inherently require funds to be stored within the platform in order to generate yield, however, DeFi (decentralized finance) has provided an alternative to this. “With CeFi crypto products today, there is the hidden risk of fund storage on a platform to generate yield, which many DeFi products solve. However, with DeFi protocols, there is uncertainty in terms of the terminal value, thus rendering collateralization prospects slim for the user’s LP tokens,” the company states in a blog post. SuperBonds eliminates these issues by enabling bonds with certain end-values that the user can self-custody—meaning users have possession of their digital assets because they control the private key. To simplify the bonds market, the platform issues bonds as NFTs which can be redeemed anytime for a fixed yield, and can then be settled by any end-owner holding the NFT. The platform also offers bond underwriting, allowing investors to park their investments in a fixed-income bond, with Bond Underwriters taking the other side of the trade. These liquidity providers send capital to the trader’s pool to create the maximum interest possible for traders. SuperBonds also offers staking for those to yield rewards for holders. 60% of the total emitted tokens are reserved for the protocol rewards and the different…
  • TA: Bitcoin Price Consolidates, Why Break above $43.5K Is The Key
    NewsBTC - 8 hours ago
    Bitcoin started a downside correction from $44,500 against the US Dollar. BTC is stable above $42,800 and the bulls might aim a fresh increase above $43,500. Bitcoin is trading in a positive zone above $42,500 and $42,800. The price is trading below $43,500 and the 100 hourly simple moving average. There is a key contracting triangle forming with resistance near $43,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a major increase if there is a clear move above the $43,500 resistance. Bitcoin Price Is Holding Support Bitcoin price extended increase above the $44,000 resistance zone. BTC even spiked above the $44,200 level before it faced sellers. A high was formed near $44,400 and the price started a fresh decline. There was a clear move below the $43,500 and $43,200 levels. The price even dived below the $42,500 support and a close below the 100 hourly simple moving average. A low was formed near $41,800 before the price started an upside correction. It traded as high as $43,791 and is currently consolidating. Bitcoin price is trading below $43,500 and the 100 hourly simple moving average. An immediate support is near the 50% Fib retracement level of the recent increase from the $41,800 swing low to $43,791 high. Besides, there is a key contracting triangle forming with resistance near $43,200 on the hourly chart of the BTC/USD pair. Source: BTCUSD on TradingView.com On the upside, an initial resistance is near the $43,200 level. The next major resistance is near the $43,500 level. A clear move above the $43,500 level might send the price towards the $44,000 resistance. Any more gains may perhaps call for a test of the $44,200 resistance zone. The next major resistance is near the $45,000 level. Fresh Decline in BTC? If bitcoin fails to start a fresh increase above $43,500, it could start a fresh decline. An immediate support on the downside is near the $42,800 zone. The first major support is seen near the $42,500 zone. It is near the 61.8% Fib retracement level of the recent increase from the $41,800 swing low to $43,791 high. A downside break below the $42,500 support zone could lead the price towards the $41,800 level. Technical indicators: Hourly MACD – The MACD is slowly losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is near the 50 level. Major Support Levels – $42,800, followed by $42,500. Major Resistance Levels – $43,200, $43,500 and $44,200.
  • Sports NFT Marketplace Lympo Suffers An $18.7 Million Hack
    NewsBTC - 13 hours ago
    The latest in the industry is the hacking of Lympo, a sports NFT platform and a subsidiary of Animoca Brands. Through hot wallet hacking, the platform just lost about 165.2 million LMT tokens, equivalent to $18.7 million during the time of this hack. Cryptocurrency hacking, though not frequently experienced, remains of the risks that some protocols have to suffer. An update through Medium from the Lympo team confirms the recent hacking from the platform on Jan 10. According to the report, the hackers accessed the protocol’s operational hot wallet and looted about 165.2 million LMT tokens. Related article | Is Norton 360 Mining Ethereum In Your Computer? If It Is, They’ll Take a 15% Cut Furthermore, the post revealed that the cybersecurity attack led to the compromise of 10 different project wallets. Also, the majority of the hacked tokens were moved to one single address from where they were swapped on both Sushiswap and Uniswap for Ether (ETH) and were later transferred somewhere else. With this looting of the LMT from its hot wallets, the price of the token plummeted by 92% to $0.0093. Lympo Team To Fix Grudges Subsequently, the protocol’s team released a tweet stating that they are striving to stabilize the circumstance as well as to return their operations to normal. Additionally, the team mentioned its removal of liquidity LMT from liquidity pools. According to them, this will help in reducing the crypto price disruption. Moreover, the team by the early hours of Jan 11, advised traders to place a hold on the buying and selling of LMT tokens. They intend to first complete their investigation and outline their possible line of action. With the removal of liquidity from pool trading LMT, there will be a negative effect for traders. This means the traders can’t buy or sell remarkable token amounts without encountering some value loss. Being a subsidiary of Animoca Brands, the Animoca teams has fully thrown their support to Lympo. In one of his speeches, Yat Siu, the CEO of Animoca said that they are helping Lympo with for recovery though they have not taken any specific mechanism for that. Another Crypto Hacking On Hot Wallet Similar to Lympo’s hot wallet security breach, a centralized crypto exchange, LCX, on Jan 8, lost about $7 million from its hot wallet. This hacking cuts across 8 different crypto coins on the exchange. Most of the funds from the LCX hacking were swapped for ETH. The proceeds were later transferred to Tornado Cash which is a privacy tool with the feature of concealing both the source and destination of ETH tokens. The LCX hacking involved different amounts of LINK, MKR, USDC, ETH, LCX, SAND, QNT, and ENJ. Related article | More Green Energy: Crypto Mining Saves A Hydro Power Plant In Costa Rica Through its update on January 10, the LCX notified its users of its compensation plan for their losses. Also, it assures them that there was no compromise of any personal data from the attack. Featured Image from Pexels
  • Joe Rogan Holds High Hopes For The Cryptocurrency Industry
    NewsBTC - 17 hours ago
    There have been several reactions and comment from prominent personalities about the trend of cryptocurrency from the beginning of 2022. The world’s most prominent controversial podcaster and comedian, Joe Rogan, has just expressed his ‘hope’ for digital assets. He made this confession during a recent podcast interview. On January 8, Rogan, through the 1760th episode of his podcast ‘The Joe Rogan Experience,’ deliberated on the crypto future. This discussion was with Adam Curry, his fellow podcaster. The estimated number of listeners for every episode of Rogan’s podcast is about 11 million. This is significantly high irrespective of the moves from Spotify in censoring some offensive episodes. Also, Rogan’s podcast bagged the top position of the most popular during 2021 on Spotify. The world’s most prominent podcaster stated that cryptocurrency would either entirely fall or become an opportunity for sailing to a better future for human lives. Curry stated that several young individuals are moving out on his part. Such moves could be for developing parallel networks and systems. He confirmed his loyalty to Bitcoin by stating that he’s on the BTC train to provide more security for his funds. He lamented the broken money system, causing misery, inflation, and even wars due to its link to oil. Related Reading | How the CFTC fine on Coinbase could affect future crypto company listing Curry has been the host of ‘No Agenda,’ a right-wing podcast that has received criticisms from the medical community and mainstream media. They believed that Curry has been promoting conspiracy theories. Metaverse And Cryptocurrency Vision From Podcasters The discussion between Rogan and Curry transcended to the potential of digital Metaverse that Silicon Valley controls. Also, they talked about NFTs and their role within the crypto space. Rogan composed a theory for the future where firms could devise their digital tokens. Hence, buying their products will demand that customers utilize the tokens. He cited that Apple could achieve that with ease. Rogan explained that the process would be first to buy the digital coins you will use to buy the company’s products. He said that the process is similar to stocks. Reacting to that, Curry expressed his disagreement by saying that Rogan’s explanation is different from the plan. Instead, Curry stated that powerful governments and institutions are expected to focus on their Central Bank Digital Currencies, CBDCs. He mentioned that individuals would have crypto tokens and wallets allocated from the Federal Reserve. Hence, retail banking will have little or no use. Irrespective of the positive vibes from the podcasters in appreciating cryptocurrency, lots of crypto community members are pretty skeptical. Related Reading | Did US Regulators Began Offensive Against Crypto Platforms? CFTC Fines Kraken The two podcasters, Rogan and Curry, stand within the crypto space as being highly controversial. Rogan is famous for his kicks against ‘political uprightness. So, he had gained past criticism for his jokes that depicts racism, sexism, and transphobia. Rogan received payment from CashApp in July 2021 to advertise Bitcoin to his listeners. Also, in November, he…
  • RMDS Lab: A New NFT Marketplace For Science And Tech IP…
    NewsBTC - 1 day ago
    West-coast based spatial data and analytics firm RMDS Lab plans to create the first-ever dedicated science NFT Marketplace before the end of the first quarter of the year. Related Reading \ Bitcoin Revisits $44k As Exchange Outflows See Uptick RMDS Lab is known as a data and artificial intelligence (AI) platform based in California, and founded by IBM’s former chief data scientist Alex Liu in 2009 to create a global community of data scientists and researchers, and to promote scientific innovation through data and AI. As NFTs increased in popularity, RMDS says ‘a huge demand for NFT minting and listing’ played a part in RMDS’ decision to create a way to sell NFTs for research and technology-associated IP. ETH: Ethereum is leading coin on the blockchain for NFTS. ETH-USD on TradingView.com The NFT market rocketed almost 43,000% between 2020 and 2021, according to the cryptocurrency exchange Binance. RMDS’ goals in moving into NFT sales are to connect scientists with investors, as well as to link science and technology IP with related collectors, investors and science enthusiasts. The intent is to provide new fundraising channels for science and technology projects, and accelerate technology development. NFTs have mostly been art and music based, with gaming and literature joining in at times as well. Liu explained  “for scientists, it is often difficult to get funding, and to get funding through the traditional channels takes a long time.” He added that “NFTs can simplify this and help people to focus more on their real work,” in a statement released by Chemistry World.  “Also, scientists do not have many channels to reach investors, and an NFT marketplace can expand their reach.” NFTs and science have already made a couple of moves that might of sparked the idea that science can in fact sell NFTs. In June 2021, The University of California, Berkeley announced that they will be auctioning off the patent disclosures behind two Nobel prize-winning discoveries made there by selling them as NFTs. They set aside part of a fundraising effort to support basic research at UC Berkeley; the plan worked out for the better, and the University earned $55,000 from an NFT that was based on James Allisons breakthrough research behind cancer immunotherapy back in the 1990s. Liu acknowledges that the technology behind NFTs is still evolving and developing to address these environmental issues, as well as security and copyright issues. “We are connected to a lot of experts in blockchain AI, and we want to develop this marketplace,” he stated. “With our talent pool we want to help solve some of these problems and make NFT exchange better.” The platform is still in developmental stages and is set to be completed by the end of March. Related Reading \ Bitcoin Is Massively Overvalued, Billionaire ’Bond King’ Jeff Gundlach    
  • Kishimoto Inu is Set to Revolutionize Non-fungible Tokens with its 3D NFT Marketplace
    NewsBTC - 2 days ago
    Kishimoto Inu is in the early stages of releasing the world’s first 3D NFT marketplace, taking NFT space to the next level. Non-fungible tokens took the world by storm in 2021 as the previously maligned sector of the cryptocurrency market caught the attention of mainstream news outlets, celebrities and globally recognized brands who sought to get in early on this multi-billion dollar trend. As the quality of NFT projects has evolved from simple pixelated images to extremely detailed one-of-a-kind digital assets that let their holders express their inner nature, so too must the underlying architecture that enables the buying and selling of these unique times to anyone with an internet connection. It is in that vein that the team behind Kishimoto Inu, a project with the goal in mind to become the hub for all things anime on the blockchain, has set out to create the first of its kind 3D NFT marketplace that will change the non-fungible token space we know it. The Kishimoto teams dedication to advancing the development of the project to keep up with the latest trends across the blockchain ecosystem has been demonstrated with the announcement of the upcoming Katsumi Governance Token and KishiSwap 2.0 launch, and its work on creating a 3D NFT marketplace is sure to set the example that all other NFT marketplaces will strive to beat. The Kishimoto NFT ecosystem is already well established with 10,000 unique items listed on the popular OpenSea marketplace including the popular Kishi Ninja NFTs which will soon have utility in a play-to-earn game that is currently in the early stages of development. Early adopters of unique Kisimoto NFTs like the Kishi Ninjas will also be treated with additional perks, contests and unannounced surprises in the future as the Kishimoto Inu ecosystem expands. Once the upcoming KishiSwap 2.0 is fully launched, members of the Kishimoto community will have an easy way to mint their own NFTs which can be traded on the exchange or one day displayed in the museum-like setting of the Kishimoto 3D NFT marketplace. No other anime-focused or generally NFT-focused platform has gone to the lengths that Kishimoto has to develop and evolve the industry as a whole forward, and the current plans are just the tip of the iceberg for what the project has in store for the future. The ambitious roadmap for Kishimoto details the release of the first of its kind active burn DAO token for the Kishimoto community, KishiSwap 2.0, and the 3D NFT Marketplace all in Q1 of 2022, and the team is well on its way to accomplishing its goals in just the first month of the new year. On top of building out the Kishimoto ecosystem, the developers behind the project have also worked hard to establish bridges to some of the most popular blockchain networks in the ecosystem including Fantom, Avalanche and the Binance Smart Chain, meaning Kishimoto can be traded and stored in a multi-chain environment where users can find the best transaction fees…
  • ADALend CEO Kaspars Koskins : “We Are Building a Secure Lending Platform on Cardano”
    NewsBTC - 2 days ago
    Starting ADALend CEO Kaspars Koskins interview series, one of the most promising companies that is revolutionizing the lending industry by using blockchain technology to disintermediate the traditional middlemen – providing unprecedented access to loans for those ignored by the traditional banking system and providing high yields for investors in a persistently low-interest-rate environment. I hope you are as excited for this conversation as we are so let’s jump in. Q: Welcome Kaspars, we know you are a busy gentleman these days with the public launch of the ADALend lending platform and token this quarter but thank you for making time to speak to us today. Let’s start at a very high level – can you give us the elevator pitch for ADALend that so that those of us that are new to Decentralized Finance and Crypto (or Web3 as they fashionably call it these days!). Koskins: It’s a pleasure to be here and I am thrilled to share with your audience a little more about what we are building at ADALend and how they can participate but first let me try to summarize in layman’s terms what our mission is. We are developing a scalable, trustless, and decentralized lending protocol that harbors users within a self-governed environment. From day one, we committed to building natively on the Cardano blockchain, which will enable the lending platform to aggregate protocols that support business models that give economic support to billions of users. ADALend will bring back the balance of power between lenders and borrowers. By allowing the use of digital assets as collateral, the use of the platform will be diversified to the benefit of the user. Q: Thank you for that –  can you tell the audience a little more about why you chose the Cardano blockchain when there are already successful DeFi projects built on Ethereum and new blockchains like Solala for example? Koskins: Certainly, let me begin by explaining that Ethereum is no longer usable by the majority of people on earth due to the high transaction costs. The gas fees on Ethereum have reached hundreds of dollars per transaction over the past year. This would be unacceptable to ordinary people in the western world today but for the millions of unbanked people in the developing countries of Africa and Asia, this renders ETH useless as they need to lend and narrow far smaller amounts. Ethereum has therefore become a layer 2 blockchain for the rich and the newcomers you mention like Solana have problems with centralization and reliability. Cardano is the only truly decentralized blockchain with the required security, speed and low transaction fees required to provide a truly democratic financial solution that can be used by every human on planet earth – and our vision aligns perfectly with the Cardano Charles Hoskins who is passionate about improving financial outcomes for people all over the world, regardless of race, nationality, gender or financial status. Q: Thank you, those are truly powerful words Kaspars, and we are fortunate to…
  • Will Tarantino Be Able To Sell The Pulp Fiction NFTs? Or Will Miramax Prevail?
    NewsBTC - 2 days ago
    In two days, the auction of the first Pulp Fiction NFT will take place. A historical moment for the nascent industry, one that will set precedent for years to come. When Quentin Tarantino and the Secret Network announced a partnership aimed at releasing NFTs from the classic ’90s film, the world listened. Unfortunately for them, so did Miramax. The studio still holds the right to Pulp Fiction, so they sent a cease and desist letter.  Related Reading | Upside Potential in NFTs is Massive Says Gary Vaynerchuk The caveat here is that “the unique value proposition from The Secret Network lies in the name; the NFTs will be “secret” and only accessible by the NFTs owner.” When NewsBTC covered this story, we explained:  “That fact makes the lawsuit endlessly interesting. Only the person that buys the NFT can see what’s inside, so Miramax has no clue about the kind of content they’re suing for. They just know they own the rights to the picture and the discarded material, but, besides the reports and the marketing material, they’re as in the dark as the rest of us about the actual content.” What has happened since then? A LOT. Let’s explore the new developments in the case. Bidding begins in one week! Register now on https://t.co/IafaEEqDqU. The future is now. You won't want to miss this. $SCRT $ATOM $ETH pic.twitter.com/qILjbtNZSH — Tarantino NFTs (@TarantinoNFTs) January 10, 2022 Unreleased Scenes And Material In the beginning, the implication was that the NFTs would contain unreleased material from Pulp Fiction. Miramax entered the picture and everything changed. Again, from NewsBTC’s previous report: “On the day of the announcement, The Secret Network released a statement that quotes the director himself. “I’m excited to be presenting these exclusive scenes from PULP FICTION to fans.” Tarantino says. “Secret Network and Secret NFTs provide a whole new world of connecting fans and artists and I’m thrilled to be a part of that.” Tarantino’s words suggest simpler times. We’re nowhere near that stage anymore.” The Content Of The Pulp Fiction NFTs Changed After the cease and desist letter, it transpired that Tarantino only kept the rights to Pulp Fiction’s script. Recently, IndieWire quoted a statement that Proskauer Rose, one of Miramax’s lawyers, sent them:  “There’s been no attempt to dismiss any of Miramax’s claims by Tarantino’s team, nor have they filed any counter claims or motions against Miramax, and since Miramax filed its lawsuit, the promotional website and Twitter account for the proposed sale have scaled back the unauthorized use of imagery from Miramax films (including Pulp Fiction)”  And he’s right about that. A casual visit to the @TarantinoNFTs Twitter account will reveal that the people involved in the sale fazed out all images related to Pulp Fiction and replaced them with just text or high contrast images of Quentin Tarantino himself. The content of the NFTs also changed, now The Secret Network describes them as:  “Tarantino owns the exclusive rights to publish his Pulp Fiction screenplay and the original,…
  • Most Defi Hacks in 2021 Had to Do With Centralization Issues, According to Certik
    Bitcoin News - 1 hour ago
    Certik, a blockchain security and auditing firm, has reported that the most common attack vector for hacks in decentralized finance (defi) protocols had to do with centralization in 2021. This data is present in Certik’s latest report, where the company also examines the growth of defi in 2021, and how other chains such as Avalanche […]
  • Konami’s Castlevania Anniversary NFT Sale Raises Over $160K
    Bitcoin News - 3 hours ago
    Konami, a Japanese game developer and software publisher, raised more than $160K in its first foray into the non-fungible token (NFT) scene. This was the result of an NFT auction related to the 35th anniversary of Castlevania, one of its most popular franchises. The end result contrasts with what other companies have experienced so far, […]
  • GemUni Disrupts Crypto Gaming With the Decentralized NFTs Gaming Platform for Play to Earn
    Bitcoin News - 5 hours ago
    PRESS RELEASE. GemUni, a Decentralized NFTs Gaming Platform for Play To Earn, has announced that its upcoming Initial DEX Offering (IDO) will be conducted on three launchpads GameFi, Red Kite, and KrystalGO on January 19th. GemUni is building a Decentralized NFTs Gaming Platform for everyone around the world to engage in Fun, Easy, and Play […]
  • Fidelity Expects More Countries to Acquire Bitcoin Citing ‘Very High Stakes Game Theory’
    Bitcoin News - 6 hours ago
    Fidelity expects more sovereign nation states, or even a central bank, to acquire bitcoin this year. “There is very high stakes game theory at play here, whereby if bitcoin adoption increases, the countries that secure some bitcoin today will be better off competitively than their peers,” the firm explained. Fidelity’s Crypto Predictions Fidelity […]
  • Boxing Legend Mike Tyson Says He’s ‘All in’ on Solana Crypto — Asks Fans How High SOL Will Go
    Bitcoin News - 8 hours ago
    Boxing legend Mike Tyson, aka “Iron Mike,” says he is “all in on solana.” He is now asking his Twitter followers how high the price of the cryptocurrency SOL will go. Mike Tyson Asks How High the Price of Solana Will Go Mike Tyson, one of the greatest heavyweight boxers of all time, […]
  • Robinhood on Listing More Cryptocurrencies: ‘It’s Important That We Get a Bit More Clarity From Regulators’
    Bitcoin News - 10 hours ago
    Robinhood’s chief financial officer has revealed the popular trading platform’s crypto priority and the potential of listing more cryptocurrencies. “We’re a highly regulated company in a highly regulated industry, and we think it’s important that we get a bit more clarity from regulators,” he emphasized. Robinhood Waiting for Regulatory Clarity The chief financial […]
  • Jack Dorsey’s Payments Company Is ‘Officially Building an Open Bitcoin Mining System’
    Bitcoin News - 12 hours ago
    In mid-October 2021, Twitter founder Jack Dorsey revealed the payments firm Block Inc. (formally Square) was considering joining the bitcoin mining industry. Three months later, Dorsey tweeted that his firm was “officially building an open bitcoin mining system.” The Block’s Hardware General Manager: ‘We See Bitcoin Mining as a Long-Term Need for a Future That […]
  • ‘AWS for Web3’ Pocket Network Shakes Up Infrastructure of the Internet
    Bitcoin News - 13 hours ago
    PRESS RELEASE. Tampa Bay, Florida, U.S.A – 16th January 2022 – Pocket Network – an infrastructure middleware protocol which facilitates decentralized cloud computing and abundant bandwidth on full nodes interoperable with DApps across all 21+ blockchains surpasses milestone 20,000 full nodes, answering a real and conceptual question around decentralization viability. Pocket Network incentivizes a global […]
  • Euro Inflation Hits Record Highs, ECB Not in Rush to Raise Interest Rates
    Bitcoin News - 14 hours ago
    The European Central Bank is concerned over inflation in the euro area rising beyond its own expectations, a high-ranking ECB official has admitted. However, Europe’s monetary authority is not prepared to raise interest rates at this point in time, the executive unveiled. ECB Sees No Reason to Adjust Interest Rates Despite Eurozone Inflation Reaching […]
  • Foam Shoe Giant Crocs Files NFT and Digital Collectibles Trademark Application
    Bitcoin News - 16 hours ago
    According to a recent trademark application, Crocs, the American shoe company based in Colorado may be delving into the world of non-fungible tokens (NFTs). Since 2004, Crocs has sold 300 million pairs of foam clog shoes and the application describes a protocol that can manage and store digital collectibles. Crocs Trademark Filing Describes ‘Downloadable […]
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