$ 61,311.00 0.51%
$ 3,761.87 2.55%
$ 474.81 1.14%
$ 1.00 0.16%
$ 2.14 1.62%
$ 1.09 3.87%
$ 157.84 4.08%
$ 41.83 0.17%
$ 0.257186 7.67%
$ 1.00 0.19%

Latest News

  • Epic welcomes blockchain games but don't expect any Fortnite NFTs News - 4 hours ago
    Epic Games is open to blockchain game developers, but the company has no NFT plans. Gaming platforms are choosing sides on blockchain, cryptocurrencies and nonfungible tokens (NFTs) within their respective ecosystems. Following reports of Valve banning crypto and NFT-related games on Steam, its primary competitor, Epic Games Store showed a welcoming attitude for blockchain developers and the use of crypto in video games.Epic Games CEO Tim Sweeney said that the Epic Games Store would enable games using blockchain technology as long as the developers abide by the relevant laws and disclose their terms. The games need to be age-rated by an appropriate group, Sweeney wrote, adding:“Though Epic’s not using crypto in our games, we welcome innovation in the areas of technology and finance.”Sweeney told The Verge that when it comes to the use of NFTs in video games, Epic is willing to work with early developers in this field under some limitations as a platform provider. However, he previously made it clear that Epic Games, as a game developer, is not planning to use NFTs in its own products like Fortnite.The CEO clarified that Epic will not support cryptocurrency transactions through its payment service, so the developers need to use another payment system. Epic Games Store also doesn’t have a plan to integrate blockchain into its client anytime soon.Epic Games Store, developed by major video game publisher Epic Games, is a platform to purchase and download video games. Launched in 2018, the platform enables users to buy the digital version of a video game via a desktop client and then store it in a library to be downloaded and played whenever they want. Related: Half of unique active crypto wallets played a blockchain game in Q3Sweeney’s commentary follows a blockchain game ban on Steam, a prominent digital video game store. Steam’s updated guideline for game developers states that video games that use blockchain technology and “issue or allow exchange of cryptocurrencies or NFTs” are not allowed on the digital store.Game developer SpacePirate claimed that “Steam’s point of view is that items have value and they don’t allow items that can have real-world value on their platform.”
  • New York businesses ask governor to deny permits for crypto mining News - 4 hours ago
    Crypto mining’s environmental impact continues to raise concerns with regulators and businesses alike. The New York State Governor Kathy Hochul has been asked by a group of local businesses to deny permits for converting the city’s old fossil-fuel power plants into crypto mining centers. The request comes in the form of a letter cosigned by a number of organizations, businesses and labor groups.The letter calls for an environmental assessment for Proof-of-Work cryptocurrency mining in NYS while urging Governor Hochul to deny permits to convert the Greenidge Generating Station and the Fortistar North Tonawanda power plants into crypto mining facilities:“Proof-of-Work cryptocurrency mining use enormous amounts of energy to power the computers needed to conduct business – should this activity expand in New York, it could drastically undermine New York’s climate goals established under the Climate Leadership and Community Protection Act.”The proposal highlighted the inefficiencies of PoW authentication and suggests that repowering defunct fossil-fueled power plants would be “seriously jeopardizing the state’s progress on and meeting mandates for reducing greenhouse gas (GHG) emissions.”The businesses also quoted NYS Commissioner Basil Seggos of the Department of Environmental Conservation saying that “Greenidge has not shown compliance with New York’s climate law.”NYS is taking action on #ClimateChange. Today @NYSDEC released for public comment draft air permits for former coal plant turned bitcoin mine, Greenidge LLC. DEC has not made a final determination on the permits and Greenidge has not shown compliance with NY’s climate law./1— Basil Seggos (@BasilSeggos) September 8, 2021 Citing the need for a full environmental assessment related to greenhouse gas emissions, the letter demands Hochul’s administration deny the Title V Air Permits for the two fossil-fuel facilities. Related: Russia considers new energy tariffs as Chinese crypto miners relocateOn the other side of the world, Russian authorities are planning to introduce special electricity tariffs for recently-displaced Chinese cryptocurrency miners.On Oct. 13, Russian Energy Minister Nikolai Shulginov suggested a new energy consumption framework to differentiate tariffs between general usage and cryptocurrency mining, stating:“We can’t let miners capitalize on the situation at the expense of low residential electricity tariffs.”According to research conducted by the New York Digital Investment Group (NYDIG), Bitcoin’s (BTC) energy consumption will remain below 0.5% of the global total over the next decade. The study also suggests that the carbon footprint of Bitcoin will be dependent on fluctuations in Bitcoin’s price, mining difficulty and energy consumption.
  • All-time high weekly close — 5 things to watch in Bitcoin this week News - 4 hours ago
    An exciting week begins with Bitcoin back challenging all-time highs and ETFs seeing a potential U.S. launch. Bitcoin (BTC) simply refuses to die this week as a dip below $60,000 barely lasts an hour and bears are burned yet again.After a fairly calm weekend, Sunday, Oct. 17, saw a typical drawdown before a dramatic resurgence took place for BTC/USD just an hour later.With that, Bitcoin has preserved not only its bullish trajectory but has also sealed its highest weekly close ever — around $61,500.As the market braces for a possible start of trading for the United States’ first Bitcoin exchange-traded funds (ETF), volatility is all but guaranteed, analysts say.Cointelegraph takes a look at five things to consider in the week that BTC/USD squares up to all-time highs and institutional access takes a historic leap forward.Bitcoin gives less than an hour to “buy the dip”Just when it seemed that the run to all-time highs had hit a stumbling block, Bitcoin surprised everyone yet again overnight.After losing $60,000 late Sunday, bulls had no time for BTC price weakness, and before BTC/USD had even hit $59,000, they embarked on an aggressive buying spree.Hours later, the pair was back above not only $60,000 but $62,000 — and has stayed there at the time of writing.The episode did not even impact Bitcoin’s weekly close, which despite volatility still came in as the highest of all time — around $61,500.“The historic Weekly Close now means BTC is well-positioned for further upside,” trader and analyst Rekt Capital summarized on Monday.He added that the next phase of BTC price action will be “more volatile” than what has come before in previous bull market years 2013 and 2017.BTC/USD 1-week candle chart (Bitstamp). Source: TradingViewAs various analysts celebrate the weekly close milestone, meanwhile, the upcoming U.S. market open could also provide excitement.Monday, Oct. 18, could see the launch of the first-ever Bitcoin ETF products with the blessing of U.S. regulators, this coming as BTC/USD is less than $3,000 from new all-time highs.On the topic of derivatives, funding rates across exchanges have also cooled since last week, providing relief for those concerned about unsustainable upside leading to a blow-off top.Bitcoin funding rates chart. Source: BybtETFs are “go,” but not for everyoneLove it or hate it, this week is all about the Bitcoin ETF.As rumors began circulating about a U.S. regulatory green light late last week, Bitcoin price action heated up — and this week looks set to continue the trend.After years of rejections, the U.S. Securities and Exchange Commission is preparing to witness the launch of two ETF products both based on CME Group Bitcoin futures.These precede a lengthy decision-making process, which begins next month, concerning physical Bitcoin ETFs — those with actual BTC as their underlying asset and which form the topic of real interest for analysts.There is no guarantee that those traditional ETFs will get approved, and concerns already abound that the market may end up disappointed once more.With multiple applications to be decided on, however, there remain six months for a breakthrough from the SEC.Bitcoin ETF approval timeline. Source: Arcane ResearchOptimism that the tide will turn in the crypto industry’s favor continues this week, as Grayscale confirms that it will apply to convert its flagship Bitcoin fund product to an ETF.stay tuned— Barry Silbert (@BarrySilbert) October 17, 2021 Grayscale’s fund, the Grayscale Bitcoin Trust (GBTC), has been a talking point in itself in recent weeks, trading at an increasing discount to spot BTC amid fears that institutional clients are voting with their feet in the run-up to the ETF launch.The former’s higher fees ar one example of the competitive advantage debate, while some have noted that futures-based ETFs will not function as a suitable alternative by definition.This chart shows why you’re better off buying #Bitcoin than Bitcoin Future ETF. For investors, new Bitcoin ETFs might be more costly than purchasing cryptocurrency directly. Bitcoin Future has underperformed by 30ppts since start of Bitcoin Future in 2017.— Holger Zschaepitz (@Schuldensuehner) October 17, 2021 “To begin with, most institutional players have direct access to CME futures. Typically, the main reason they would choose to trade ETFs instead of futures would be to avoid tracking error (against spot price) from futures roll costs or price deviations from to contango or backwardation,” crypto trading firm QCP Capital added in a circular to Telegram channel subscribers Friday.“As such, having the ETF based on CME futures defeats the fundamental advantage of ETFs; to track spot price as closely as possible.”Difficulty set for a seventh straight increaseBitcoin network fundamentals continue to impress this week, and difficulty is leading the pack.What is arguably Bitcoin’s most essential feature is going from strength to strength and, on Tuesday, Oct. 19, is set to seal a seventh consecutive increase. The last time that occurred was in 2019.That increase will take difficulty back above 20 trillion for the first time since June.Bitcoin 7-day average difficulty chart. Source: Blockchain.comThis comes despite some volatility in the hash rate, with estimates now back down to 123 exahashes per second (EH/s), having reached in excess of 140 EH/s this month.With the overall uptrend still intact, however, concerns are few and far between amid news that the U.S. now provides a home for the lion’s share of Bitcoin mining power.Supply shock predicts a “good year” in 2022While Bitcoin price forecasts focus on what might be possible in Q4 this year, some are already looking further afield — and using data to arrive at even more bullish conclusions.One analyst painting a rosy picture for 2022 is Willy Woo, creator of data resource Woobull and well known for his Bitcoin market cycle research.Over the weekend, Woo highlighted Bitcoin’s increasing scarcity as likely fuel for a sustained price squeeze.Historically, he noted, decreasing supply combined with more of that supply staying in the hands of hodlers with no plans to sell creates a powerful bull signal.His metric, “Long Term Holder Supply Shock,” clearly shows such a scenario playing out multiple times over Bitcoin’s history.“The technical name for this…
  • Grayscale hints at plans to convert Bitcoin trust into BTC-settled ETF News - 7 hours ago
    Grayscale looks to be seeking to restructure its Bitcoin Trust into a physically backed fund after the SEC approved a Bitcoin futures ETF. Institutional investment giant Grayscale is reportedly considering converting its Bitcoin Trust into a physically settled exchange-traded fund (ETF).On Sunday, Barry Silbert, CEO of Grayscale’s parent company, Digital Currency Group, hinted that Grayscale is making plans to convert its Bitcoin Trust into a spot-settled Bitcoin (BTC) fund. After having taken to Twitter to criticize the cash-settled Bitcoin futures ETF recently approved by the United States Securities and Exchange Commission, Bitcoin commentator Preston Pysh chimed in to ask Silbert when Grayscale’s Bitcoin Trust would be converted into a BTC-settled ETF. “Stay tuned,” Silbert responded.stay tuned— Barry Silbert (@BarrySilbert) October 17, 2021 However, Grayscale Bitcoin Trust investors appear to have been unsettled by Silbert’s remarks, with Twitter user Sovereign Individual questioning what a restructure would mean for investors holding shares in Grayscale’s Bitcoin Trust.“What happens to us Grayscale investors once the spot ETF is approved? Is our investment converted into ETF shares?” they tweeted.Rumors of Grayscale’s purported ambitions for a Bitcoin ETF began circulating last week after a CNBC report citing anonymous insiders claimed that Grayscale was waiting for the SEC to finally approve a Bitcoin ETF. On Friday, the SEC announced it had accepted the registration of securities from ProShares Trust’s futures-based Bitcoin exchange-traded fund. ProShares’ ETF offers investors exposure to contracts that speculate on the future price of BTC that are settled in cash. Related: Grayscale Bitcoin Trust FUD is now over as the last GBTC unlock totals just 58 BTCDespite the ETF’s approval being cited as the primary catalyst for Bitcoin’s recent bullish market action, many analysts have criticized the fund for its cash-settled structure, instead advocating for the SEC to approve a Bitcoin ETF that is backed by and settled in BTC.According to Grayscale’s latest holdings update on Friday, the firm boasts $52.6 billion in assets under management — 73% of which is held in the Bitcoin Trust. The data suggests that Grayscale’s Bitcoin stash comprises roughly 620,000 BTC or 3.3% of Bitcoin’s total supply.
  • Mexican medical firm embraces blockchain for covid test certificates News - 8 hours ago
    MDS Mexico will use blockchain technology to verify the authenticity of its rapid coronavirus test results. Medical services company MDS Mexico has launched a rapid covid-19 testing service that uses blockchain technology to verify results.According to a Oct. 17 report from local media outlet iProUP news, MDS Mexico has launched a digital platform allowing its patients to access results that are updated in real-time. Results are also physically delivered, featuring a QR code that can be scanned to verify the results and access a patient’s vaccination history on MDS Mexico’s blockchain. MDS stated that it adopted blockchain to safeguard the results of clinical tests, protect patients’ personal data, and prevent the falsification of covid test results. MDS’s website says:“To avoid the falsification of negative results, we began to certify the SARS-CoV-2 detection tests with blockchain technology and cryptographic signature, which protects the information in a unique, immutable, and unalterable QR Code that can be verified worldwide.”Testing results uploaded to MDS’s blockchain also includes a cryptographic signature from the doctor who verified the outcome of the test.Related: The next generation of data-driven healthcare is hereMDS is not the first entity in Mexico to embrace blockchain for digitized covid test results, with Mexico’s National Chamber of Commerce (CANACO) announcing a state-backed initiative to digitize vaccination passports in partnership with private blockchain technology firm Xertify in April.In August, blockchain industry representatives in Australia similarly pushed for the introduction of a blockchain-based vaccine registry to stem the proliferation of counterfeit COVID-19 vaccine passports online.
  • Retro NFT packs drive frenzied Top Shot speculation News - 8 hours ago
    NFTs celebrating significant basketball moments from the mid-2000s have proved to be a big hit among NBA Top Shot collectors. Trade volume for NBA Top Shot’s nonfungible tokens has skyrocketed over the weekend following the launch of their retro Run It Back 2005-06 packs on Friday, Oct. 15.According to Crypto Slam, daily volume on Top Shot’s marketplace jumped by more than 440% from $829,520 on Oct. 14 to more than $4.5 million the next day. Oct. 16 also saw more than $4 million worth of tokens trade hands.Top Shot’s NFTs feature video highlights depicting key moments from the history of professional basketball, with the latest packs celebrating the stars of the 2005 – 2006 season.On Oct. 17, NBA Top Shot tweeted that nearly 10,000 Run It Back packs had been sold in 24 hours at a rate of seven purchases per minute.7️⃣ purchases a minute. For the last 24 hours. ⏰ Over the past day, we’ve seen 9,921 purchases of Run It Back 2005-06 Moment™️ Collectibles alone. Find RIB Moments ➡️— NBA Top Shot (@nbatopshot) October 17, 2021 The packs started at $169 each, with collectors competing to snag moments depicting basketball legends such as LeBron James and Shaquille O’Neal. Top Shot’s packs feature three tiers of rarity ranging from “common” to “legendary.”Crypto Slam data shows that the NBA Top Shot marketplace has hosted a whopping $744 million worth of secondary sales since July 2020. Top Shot trade activity peaked during the first quarter of 2021, with $45.7 million worth of trades occurring within 24 hours on Feb. 22.While more than $200 million worth of Top Shot NFTs changed hands during the months of February and March, monthly volume has since retraced sharply with approximately $20 million of trades taking place during September and October.Related: Top Shot to sell exclusive NFT moments at live basketball gamesAfter its weekend surge, Top Shot is ranked as the third-largest NFT project by daily secondary volume, with more than $2.5 million in tokens trading hands in the last 24 hours according to Crypto Slam.Axie Infinity ranks in first place with $18.6 million worth of trades for the past day, while CryptoPunks is second with a 24-hour volume of $6.2 million.In late September, Dapper Labs, the team behind Top Shot, announced plans to branch out beyond basketball and launch an NFT platform and marketplace in partnership with the National Football League (NFL). Dapper Labs is currently targeting to have completed its first NFL drop by the end of 2021.
  • Top 5 cryptocurrencies to watch this week: BTC, ETH, SOL, MATIC, FTM News - 15 hours ago
    Bitcoin’s shallow pullback increases the prospect of a new all-time high in the short term and altcoins like ETH, SOL, MATIC and FTM could move higher while BTC prepares for its next move. On Oct. 15, news that a Bitcoin (BTC) exchange-traded fund (ETF) could start trading as early as next week sent Bitcoin price to $62,933 but the rally has cooled off since then.Some market participants believe that traders who bought the rumor of approval for a Bitcoin ETF product may sell on the news. Crypto trading firm QCP Capital said in an update that the approval of futures-based ETFs is unlikely to provide a long-term boost for Bitcoin prices similar to the one seen in the fourth quarter of 2020.While high volatility cannot be ruled out in the near term, investors should focus on the major trend and not get caught in minor corrections that are part of the path to new all-time highs.Crypto market data daily view. Source: Coin360According to Foxbit founder João Canhada, his daughter has earned a 6,500% profit on the one Bitcoin gift she received when she was born in 2017. Although she couldn’t have traded the coin at such a young age, the returns show that patient investors who are not perturbed by a minor fall can end up with huge returns.Could Bitcoin’s rally to a new all-time high pull altcoins along with it? Let’s study the charts of the top-5 cryptocurrencies that could outperform in the short term.BTC/USDTBitcoin soared above the $58,000 resistance and the psychological mark at $60,000 on Oct. 15. The bears are attempting to stall the up-move at $62,933 but the positive sign is that bulls have not given up much ground. This suggests that traders are not closing their positions after the recent up-move because they anticipate another leg up.BTC/USDT daily chart. Source: TradingViewBoth moving averages are sloping up and the relative strength index (RSI) is in the overbought zone, indicating that bulls are in control. If the price turns up from the current level and breaks above the $62,933 to $64,854 resistance zone, the BTC/USDT pair may rally to $75,000.The immediate support to watch on the downside is $58,000. A break and close below this level could prompt short-term traders to book profits, pulling the price down to the 20-day exponential moving average ($54,336).A bounce off the 20-day EMA will suggest that sentiment remains positive and traders are buying on dips. The bulls will then make one more attempt to resume the uptrend. On the contrary, a break and close below the 20-day EMA will suggest that the bullish momentum has weakened. BTC/USDT 4-hour chart. Source: TradingViewThe pair has been rising in a steady uptrend on the 4-hour chart. The bears have not been able to sink and sustain the price below the 50-simple moving average since the pair broke above the symmetrical triangle.If the price rebounds off the 20-EMA, the possibility of a break above $62,933 may increase because it will suggest that traders are not waiting for a deeper correction to buy. This bullish assumption will invalidate if bears sink and sustain the pair below the 50-SMA. Such a move could open the doors for a drop to $54,000 and then to $52,290.ETH/USDTEther’s (ETH) break and close above the neckline on Oct. 14 completed the inverse head and shoulders pattern. The long wick on the Oct. 16 candlestick suggests that bears are attempting to stall the up-move in the $4,000 to $4,027.88 zone.ETH/USDT daily chart. Source: TradingViewIf the price turns down from the current level, the ETH/USDT pair could drop to the breakout level at the neckline. This is an important support for the bulls to defend. If the price rebounds off this level, the bulls will again try to clear the overhead hurdle.A breakout and close above $4,027.88 could clear the path for a rally to the all-time high at $4,372.72 and next to the pattern target at $4,657. Conversely, a break below the moving averages could sink the price to $3,257. The bears will gain the upper hand if this support is breached.ETH/USDT 4-hour chart. Source: TradingViewThe bears are defending the psychological resistance at $4,000 while bulls are trying to keep the price above the 20-EMA. The RSI has dropped close to the midpoint and the 20-EMA is flattening out, suggesting a possible consolidation in the near term.A break and close above $4,000 could signal the resumption of the up-move. Conversely, a break below the neckline of the setup will be the first sign that the momentum may be weakening. The pair could then decline to $3,400.SOL/USDTSolana (SOL) broke out and closed above the downtrend line on Oct. 15 which is the first sign that bulls are attempting a comeback. The bears tried to pull the price back below the downtrend line on Oct. 16 but failed.SOL/USDT daily chart. Source: TradingViewIf bulls sustain the price above the downtrend line, the SOL/USDT pair could rise to the 61.80% resistance at $177.80. This is an important level for the bears to defend because if bulls clear this hurdle, the pair could rise to the 78.6% retracement level at $194.60 and later retest the all-time high at $216.Contrary to this assumption, if the price turns down from the current level or the overhead resistance and breaks below the moving averages, it will suggest that traders are closing their positions on pullbacks. The pair could then drop to the critical support at $116.SOL/USDT 4-hour chart. Source: TradingViewThe 4-hour chart shows that the pair has been trading between $156.36 and $165.61 since breaking out of the downtrend line. If buyers propel and sustain the price above $165.61, the uptrend may resume.The first target is the overhead zone between $174.86 and $177.79. Alternatively, a break and close below $156.36 could open the doors for a decline to $147.11. Until then, the pair may continue to consolidate in the tight range.Related: Why HODL for 48 hours? Because your altcoin wallet will thank youMATIC/USDTPolygon (MATIC) has been trading in a large…
  • Portfolio rebalancing through DeFi must be simplified to see adoption News - 16 hours ago
    The decentralized finance industry is growing rapidly, and it’s time for portfolio risk management to keep up with innovations. Central banks and key leaders are increasingly raising further alarms for rising inflation, causing spirals of doubt across the world. Just recently, United States Treasury Secretary Janet Yellen called for Congress to either raise or suspend the U.S. debt ceiling, stating that the government will run out of money to pay its bills by October.What seems to sound more like a horror film of the future is merely the front news of global financial publications at the moment. Yellen stated that the overwhelming consensus among economists and Treasury officials of both parties is that failing to raise the debt limit would produce widespread economic catastrophe, “potentially precipitating historical financial crises, stock sell-off and recession, creating severe market volatility.”The value of the U.S. dollar will continue to decrease in the future, and individuals need, more than ever, simple, rather than complex, tools to protect themselves from financial risk and diversify their portfolios.Risk events have also become more common in global finance, with margin calls and liquidation issues now impacting both traditional finance and decentralized finance (DeFi) as they become increasingly interconnected. The ongoing Evergrande real estate crisis is further evidence that poor-decision making from a wide variety of markets will impact markets we thought weren’t connected, like crypto.General confidence in global finance has declined, and understanding of how money works has worsened over time. Historically, poor moves by policy-makers have left more than 31% of the world’s adult population unbanked.However, more countries are beginning to explore different currencies as decentralized finance becomes more widely adopted. Crypto, which is inherently complex, is finally moving into the next iteration, seeing the rise of tool and infrastructure development that is helping newcomers navigate the risks and uncertainties of the burgeoning but nascent movement of finance. It is up to leaders in this space to help newcomers reduce their portfolio risks.Related: Mass adoption of blockchain tech is possible, and education is the keyDemocratizing finance involves lowering the entry barriers to risk management Unfortunately, cryptocurrencies are inherently volatile. Hundred-billion dollar market wipeouts are still nothing out of the ordinary, with the market capitalization recently taking a $2 trillion hit. Speculation, announcements and other happenings can easily influence investor confidence or a lack of confidence, as demonstrated by recent events with the SEC crackdown and El Salvador in the last few weeks. The SEC was forced to tell investors to be wary of volatility and fraud of cryptocurrencies as regulators amp up crypto scrutiny.Even Bitcoin (BTC), despite being relatively established as a cryptocurrency, remains at the mercy of celebrity tweets like Elon Musk, whose actions with Tesla and tweets pushed prices low.The market is relatively new to mainstream adoption, and cryptocurrency assets tend to be concentrated among an abundance of whales. The actions of large players heavily influence price movements of cryptocurrencies, and new investors with less holding power are more likely to be caught unaware due to the complex nature of the DeFi and cryptocurrency market.Related: Institutional investors won’t take Bitcoin mainstream — You willWhile in this phase of being vulnerable to whales’ actions, understanding how to control levels of risk are critical to encouraging mass adoption, especially for new investors with less capital.Cryptocurrencies have brought democratization of wealth access: 24 hours a day, anyone can access financial assets with the click of a button, with assets that earn a higher yield than any fiat asset held by a traditional bank. The removal of bureaucracies and intermediaries has enabled greater opportunities for wealth creation, providing the assets and tools that can be understood.But, at the moment, crypto is simply mirroring the wealth gap in traditional finance because those who are fluent in the languages of crypto understand how to be strategic. Ultra-wealthy crypto holders have the means to pay investment funds and brokers who have access to traditional backed investment tools such as providing trading, custody and financing services to ensure their investments are correctly balanced against the market at all times.What is portfolio rebalancing?Portfolio rebalancing is the process of realigning the weightage of a portfolio of assets, involving buying or selling assets periodically to maintain a targeted level of asset allocation and risk. It can help investors manage downside risks while still participating in most of the upside.This process is critical during moments of financial instability to help individuals mitigate the risks of loss and depreciation of their digital assets. Many investors, especially those under 40, are unaware of how to, nor have time to, pay attention to and manage risk in their portfolios or understand why rebalancing is essential for wealth stability and generation.Rebalancing not only prevents overexposure but helps to instill good trading habits by building customer discipline to stick to a long-term financial plan that allows investors — both young, old, new and experienced — to regularly monitor any potential market movements that could cause losses. Related: Crypto asset diversification vs. all eggs in one basketMost rebalancing strategies are time period-based (i.e. yearly, quarterly, monthly, etc.) but can also be reactionary — i.e., based on allowable percentage compositions of assets, which is more cost-intensive. For example, if the original target asset allocation was 50/50 among assets A and B and asset A performed well, it could have increased the weighting of the portfolio to 70%.This means an investor may sell some of A to buy more B to return to the original target allocation of 50/50. While the split does not need to be even among assets, rebalancing is most effective with a good mix of volatile and non-volatile holdings in the portfolio, as it safeguards investors from overexposure to undesirable risks.In traditional finance, rebalancing is either done manually by the investor tracking through spreadsheets and buying/selling through exchanges/brokers or investing in funds where portfolio managers handle it. This process is inconvenient and out of the budget for retail investors and shouldn’t be limited to only those who have the time and money to…
  • Centric Swap leads ‘Uptober’ after a swift 1,000% gain. Here’s why it could go higher News - 16 hours ago
    CNS price rallied roughly 1,000% in the past 5 weeks as new partnerships, a chain migration and the promise of “announcements upon announcements” lure new investors. In the past few weeks, Centric Swap (CNS), a dual-token model that gives stakers a fixed hourly yield that “stabilizes over time as it self-regulates token supply to meet ongoing changes in demand,” has rallied more than 850% and still about 200% away from its previous all-time high.Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.000104 on Sept. 9, the price of CNS has skyrocketed 1,130% to a daily high at $0.0017659 on Oct. 15 as its 24-hour trading volume spiked 130% to $6.4 million. CNS/USDT 4-hour chart. Source: TradingViewThree reasons for the rapid rise in CNS price include the expansion of the project’s ecosystem through partnerships, a $1 billion injection by Binance into the DeFi ecosystem on the Binance Smart Chain (BSC) and the promise of multiple upcoming developments and announcements by the project’s developers. Centric’s ecosystem expandsReal-world adoption is probably one of the best validation signals for a project because the increased token utility tends to boost prices and it also brings new attention to the project.Over the past couple of months, the Centric Swap protocol signed a handful of partnerships with companies like Tourvest Travel Services and Absolute World, which will allow CNS to be used as a payment option for traveling expenses. Other big partnerships include a collaboration with Goldgenie, which specializes in high-end luxury items like gold-plated cell phones and a partnership with the decentralized cross-chain bridge CroxSwap. Binance Smart Chain invests in CNSOn July 15, Centric Swap migrated from the Tron network to the Binance Smart Chain. This gave the project access to the active trading community on BSC which has helped boost its exposure and increase its trading volume. This turned out to be a timely move because Binance recently announced that it would investing $1 billion toward developing the DeFi ecosystem on the BSC, which Centric Swap is now a part of. Protocol investments and developer incentive plans have grown in popularity in recent months after multiple projects, including Avalance, Fantom and Terra used the tactic to grow their communities and attract liquidity to their DeFi ecosystems. In each instance, the tactic lead to a strong increase in each project’s token price.Related: Ethereum alternatives and layer-one solutions see steady gains in SeptemberTeasing upcoming announcementsThe project’s Twitter feed shows that prior to the recent announcements such as the Absolute World partnership, the team at Centric dropped numerous hints about upcoming developments may have excited community members and triggered a buying spree.Attention #CentricWarriors! Who is excited for this week’s (Thursday’s) partnership announcement? The first 100 people will receive an incredible promotional offer! Don’t miss it! $CNR $CNS #BSCGem #BSC #BinanceSmartChain— Centric Official (@CentricRise) October 6, 2021 The announcement of an announcement approach is a popular marketing tactic used in the cryptocurrency sector, but it remains to be seen if this will offer a sustainable pump in price or result in a buy the rumor, sell the news scenario. When one Twitter user suggested that the project would amount to nothing more than a “buy the rumor, sell the news” event, Centric chief operating officer Thomas Butcher rebuffed the idea and said that there is more in the pipeline for Centric in the coming months. Butcher said:“It doesn’t matter, we have even more news behind that news, and more news behind that news, and more news behind that news… See the pattern that we’re entering.”The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.
  • Next Bitcoin price crash will be ‘shallower’ than 80%, says Pantera Capital CEO News - 18 hours ago
    Bitcoin price increases will also be less dramatic moving forward, the report suggests. Bitcoin’s (BTC) market tendency to crash by over 80% after logging strong bull runs might come to an end.That is according to a new report published by California-based hedge fund Pantera Capital. In detail, the report notes that the recent periods of BTC price drops have been less severe than in the past.For instance, in 2013–2015 and 2017–2018, Bitcoin crashed by as much as 83% after topping out near $1,111 and $20,089, respectively. Similarly, the cryptocurrency’s bull run in 2019–2020 and 2020–2021 led to massive price corrections. Nevertheless, the scales of their retracements afterward were -61% and -54%, respectively.Bitcoin bull and bear markets across its history. Source: Pantera CapitalDan Morehead, CEO of Pantera Capital, highlighted the consistent drop in selling sentiment after the 2013–2015 and 2017–2018 bearish cycles, noting that future bear markets would be “shallower.” He explained:“I long advocated that as the market becomes broader, more valuable, and more institutional the amplitude of prices swings will moderate.”The statements appeared as Bitcoin renewed its bullish strength to retest its current record high near $65,000. BTC/USD rallied above $60,000 for the first time since early May as the United States Securities and Exchange Commission approved the first Bitcoin exchange-traded fund (ETF) after years of rejecting similar investment products. The approval of ProShare’s Bitcoin Strategy ETF raised expectations that it would make it easier for institutional investors to gain exposure in the BTC market. That also helped Bitcoin wipe almost all the losses incurred during the April–July bear cycle as BTC’s price doubled to reclaim levels above $60,000.Bitcoin price cycles throughout the history. Source: Pantera CapitalBTC undervalued?It’s becoming increasingly common to hear $100,000 valuations as Bitcoin grows to become a mainstream financial asset, with its first ETF approval seeming to be right around the corner.Related: $200K BTC price ‘programmed’ as Bitcoin heads toward 2nd RSI peakMorehead cited the popular stock-to-flow model, which studies the impact of Bitcoin’s “halving” events on prices, to rule out a similar bullish outlook for the cryptocurrency. He noted that the first halving reduced the new Bitcoin issuance rate by 15% of the total outstanding supply (around 10.5 million BTC), leading to a 9,212% BTC price rally.Reduction in Bitcoin supply after each halving. Source: Pantera CapitalSimilarly, the second halving decreased the supply of new Bitcoin by one-third of the total outstanding Bitcoin (~15.75 million BTC). It led to a 2,910% bull run, almost a third of the previous one, thus showing a lesser impact on Bitcoin’s price.Post-Bitcoin halving rallies. Source: Pantera CapitalThe last halving was on May 11, 2020, which further reduced the amount of new BTC against the circulating supply, with Bitcoin rallying by over 720% since. “The flipside is we probably won’t see any more of the 100x-in-a-year rallies either,” said Morehead, adding:“The cycles shown logarithmically make today’s level look cheap to me.”The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.
  • Fasten your seatbelt: Crypto’s impact on marketing has only just begun News - 19 hours ago
    The marketing will adjust to a new crypto future, with a decentralized consumer community, operating via Web 3.0. The road to the adoption of blockchain and crypto in the marketing industry is a long and winding road. But make no mistake about it: Transformation is well on its way and the road will soon turn to a highway.As someone who has been a creative director, agency owner/partner, strategic planner, chief marketing officer for fintech startups and an entrepreneur, I’ve seen the marketing industry from multiple vantage points. What’s common in marketing revolutions?And while every so-called “marketing revolution” takes a somewhat different path, there are many commonalities. First of all, marketing agencies will get ahead of the curve as a way to exhibit their competitive advantage and value to their clients. But a majority of brand marketers will move more slowly: They have the challenge of “socializing” change internally, are lured by the opportunity for competitive differentiation but also inherently more cautious, often have large and complex systems issues, and require leadership with a certain risk tolerance. It’s why companies like McDonald’s and Walmart are dipping their toes into crypto, yet still have a way to go.Secondly, as with most transformative moments in marketing, a core challenge is a behavioral one: How to get customers/consumers to take that first step … to overcome confusion, fear/distrust, or simple inertia to make that first transaction. Think: the early days of the internet and connecting a modem for a dial-up connection; having to incent folks to adopt online banking and pay their first bill or electronically deposit their first check; or QR-codes, which were a big dud until Apple built a QR reader right in the iPhone’s camera.The common denominator: simplicity. It’s why asking mainstream consumers to navigate an infinite number of exchanges, Metamask, Uniswap, hot and cold wallets, and the like is a tall task. Yes, early adopters are doing just fine, but they’re just a sliver of the total universe of the general population.Related: Cryptocurrency and the rise of the user-generated brandThird, innovation happens because there are problems to be solved. From the Cypherpunks to modern-day evangelists, champions of crypto talk of transforming how privacy, decentralization and the democratization of money will change the world. For marketers, the issues that have prevailed so far are related, but a bit more modest.For example, projects like Lucidity and Rebel AI (now Logiq) offer to tackle the vexing issue of bot-driven ad fraud in digital marketing. The browser Brave, and its corresponding token, BAT, promise to tackle data privacy when searching the web. And AdsDax and IBM are working to drive more accountability and transparency in digital marketing performance.Just around the cornerThe onramp to the blockchain/crypto highway in marketing can be found all around us, right now. Consider:Payments: With the rise of crypto credit cards like those offered by Coinbase,, BlcokFi… the ability to pay with crypto on PayPal… buy now, pay later (BNPL) platforms like Klarna integrating Safello… and the dominance of stablecoins, it’s safe to say the payments category is rapidly evolving and will have a material impact on how products and services engage their customers. Analytics: Data analytics is core to the digital marketing revolution, and the ability for marketers to leverage it shows tremendous potential in a decentralized ecosystem. The use cases for oracles like Chainlink, querying tools such as The Graph and onChain analytics have only scratched the surface of their potential for brand marketers. Content creation: The rights of content creators and publishers have long been a hot button in the marketing ecosystem. Projects like Audius are demonstrating how a decentralized ledger has the potential to be a gamechanger in protecting copyrights, giving consumers more choice in how they pay for and consume content, and how content is stored and distributed.Related: Capturing lost intellectual property revenues with blockchainSocial media: Twitter recently announced an executive role to spearhead its “BlueSky” exploratory for a decentralized standard for social media. Facebook is purportedly piloting a stablecoin-based digital currency of its own, dubbed Diem. Social media and content marketing have, arguably, been at the forefront of the brand marketing playbook over the past five years; there’s little reason to believe that that will not remain the case.Loyalty: Loyalty/customer relationship management programs, which often struggle with creating a “currency” to deliver as a reward to motivate true behavior change vs. merely defending defection, will find an entirely new avenue to go down in NFTs — which projects like Cryptibles and Enjin is offering. Moreover, as experiences outpace “stuff” as a coveted reward for loyalty, the promise of NFTs for “digital tickets” to unique experiences like that offered by Microsoft, collectible trading and auctions, and the ability to connect in-person events with a digital experience is an exciting new frontier.Related: Brands must tokenize their loyalty and rewards programsGamification: The impressive growth of Axie Infinity demonstrates just how powerful the potential for play-to-earn gaming and NFTs can be. Though Axie is a self-contained game, it portends a future where brands will gamify marketing strategies of their own in a semi-decentralized way, and even create their own play-to-earn games.Ingredient brands: Will there come a time when the blockchain that a product/service is built on becomes an “ingredient brand” much the way Visa or Mastercard is to an issuing bank’s credit card, or Intel is to a Windows-based computer? Will we see the likes of NBA Top Shot powered by Flow? Given all the investor interest in crypto projects, it’s not an outlandish thought.Peering into the future: The MetaverseIf history is any guide, the decentralized digital future will fundamentally change how marketing is done, as the UX of the technology gets easier and more intuitive, the utility becomes more obvious and profound, adoption increases, and behavioral hurdles are slowly but surely overcome. So while I previously offered my thesis for the rise of the user-generated brand (UGB), I’d like to now peer into the future and paint a picture of a personal Web 3.0, decentralized consumer community.Related:…
  • How to modify or cancel a pending Ethereum transaction News - 21 hours ago
    A stuck or pending Ethereum transaction can be canceled or modified using two methods: in-application cancellation and setting a custom nonce. Ethereum is an open-source blockchain-based software platform with thousands of decentralized applications (DApps) that powers its native cryptocurrency, Ether (ETH), that can be sent and received globally without any third-party interference. First conceptualized in 2013 by Russian-Canadian programmer Vitalik Buterin, Ethereum was designed as a platform for self-executing, permanent and immutable DApps with use cases varying from finance to gaming and art. DApps are often referred to as smart contracts which are Ethereum transaction protocols that automatically carry out certain functions and actions like transaction processing with predetermined conditions and agreements. Sending a transaction, canceling it, or resolving a pending Ethereum transaction are actions related to the functioning of smart contracts. What is an Ethereum transaction?Transactions are cryptographically signed instructions from accounts. The Ethereum network supports two main types of transactions: contract deployment transactions, the type of transaction without a receiver, and regular transactions, the simplest type of transactions used to transfer ETH from one wallet to another.A submitted, regular Ethereum transaction includes the identifier of the sender or signature generated when the sender’s private key signs the transaction and confirms that the sender has authorized the particular Ethereum transaction. The receiving address, an amount of ETH to transfer from sender to recipient, information about Ethereum transaction fee and an optional field to include arbitrary data are all part of a submitted regular Ethereum transaction.Ethereum transactions must be mined to become valid and require a fee from the sender. Ethereum miners verify legitimate transactions in order to receive a reward for their work in creating new ETH. When a miner solves a cryptographic (mathematical) puzzle, a transaction is considered validated. Ethereum, like Bitcoin (BTC), has a proof-of-work (PoW) system to prevent cyber attacks from a single individual or group.The obligation for users to pay a transaction fee when using the blockchain protects the Ethereum network from sloppy or malicious computational tasks such as users spamming the blockchain with an overload of purposeless transactions.Ethereum transaction lifecycleAn Ethereum transaction goes through a series of states, starting with the unknown state until it is confirmed in a block.Unknown: The unknown state refers to a transaction that the network has not seen or processed.Pending: When a transaction is in the pending state, it is waiting for miners to pick it up and process it which is called a pooled transaction, also said to be called the “mempool.” Because miners prioritize greater gas prices, transactions with lower gas values may languish in the pending stage for an extended period. The transactions with the lowest gas prices may never be picked up, leaving them “stuck” in the pending status eternally.In block: When a miner successfully selects a transaction and mines it within a block, it advances to the in-block state. In-block transactions are called mined transactions. If the block is forked, a transaction in the block may return to the pending state. When a mined transaction (i.e., one in the in block state) is reversed by the network, it is known as a forked transaction.Replaced: When either of the following circumstances occurs, a transaction can be moved from the pending to the replaced state:A new transaction with the same nonce from the same sender enters the in block state, orAnother transaction with the same nonce and a 12% higher gas price enters the pending stage, this time from the same sender.Ethereum Transaction confirmationsEthereum transaction confirmations are the number of blocks created since the first block that included this transaction. A pending Ethereum transaction needs to receive a certain number of confirmations. The higher the gas fee, the greater the certainty that the Ethereum network processed and recognized the transaction.Recent blocks can be reorganized, giving the impression that the transaction processing has failed. Even so, the transaction may be included in another block and remains valid. The probability of reorganization decreases with each subsequently mined block, that is, the more the confirmations, the more immutable the transaction becomes.Ethereum transaction confirmationsA transaction fee is an incentive paid by users to block miners. It is used to send a particular transaction in the Ethereum blockchain.The Ethereum blockchain transaction fees are also called gas fees, as they are related to gas, a pricing mechanism used on the Ethereum network which refers to the computation required to process the transaction by a miner. The computational tasks of a transaction are measured in terms of gas cost. On the other hand, each unit of gas has a gas price given in ETH. Although the complexity of a particular transaction determines gas cost, users can set their own price and gas limit, or the maximum amount of gas units consumed by the transaction. What is a nonce?A nonce is an abbreviation for “number only used once,” referring to the total number of confirmed transactions sent from the given Ethereum address.Ethereum wallets can broadcast multiple transactions from an account without much delay between one another, meaning that a nonce calculation is considered to be a necessary mechanism that determines which transaction is processed first. Usually, Ethereum wallet applications take care of nonce management for users.How to cancel an Ethereum transaction?There are two main methods to cancel a pending Ethereum transaction: in-application cancellation and setting a custom nonce.Usually, Ethereum transactions are pending for hours or stuck when users submit with a low gas price. Therefore, users often find it necessary to change Ethereum transactions.When solving this issue, users need to remember that cancellation can only be attempted if the transaction is still pending on the network. The first step they need to take is to verify in a block explorer whether the transaction is still pending. Mainly, to paste the transaction hash, also known as an Ethereum transaction ID, and if a block explorer says “pending,” users can still try to cancel it.The easiest way to cancel a stuck Ethereum transaction is in-application cancellation, which requires users to exit the Ethereum wallet application and…
  • 6 Questions for Yat Siu of Animoca Brands News - 23 hours ago
    We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and we throw in a few random zingers to keep them on their toes! This week, our 6 Questions go to Yat Siu, the co-founder, group executive chairman and managing director of Animoca Brands, who leads various NFT projects.A veteran technology entrepreneur and investor, Yat is the co-founder, group executive chairman and managing director of Animoca Brands a global leader in blockchain and gaming with the mission to deliver digital property rights to the worlds gamers and internet users. Animoca seeks to create a new asset class, play-to-earn economies and a more equitable digital framework contributing to the building of the open Metaverse.Yat began his career at Atari Germany in 1990. In 1995, he moved to Hong Kong to establish Hong Kong Cybercity/Freenation, the first free webpage and email provider in Asia. In 1998, he set up Outblaze, an award-winning pioneer of multilingual white label web services. In 2009, he sold Outblazes messaging unit to IBM and pivoted Outblaze to become an incubator of projects and companies to develop digital entertainment services and products. One of those incubator projects is Animoca Brands. 1 From smart contracts to DApps, NFTs and DeFi, we have seen so many of cryptos next killer apps, but none have really taken off yet. What will stick?The killer apps for crypto are already here, theyre just in need of further growth and penetration. Gaming is the killer app more specifically, GameFi. Games like Axie Infinity and The Sandbox have captured the imagination of thousands and have grown accordingly by enabling their users to own their own game content and benefit materially from that content. The top DApps tend to be games (DappRadar currently lists six games in the top 10 DApps), and I do not expect that to change. 2 If you were investing in startup companies right now, what kind of blockchain-based business opportunities would catch your eye?As it happens, we are, in fact, actively investing in blockchain companies (startups and non-startups) all over the world. We are particularly interested in projects that can drive mass adoption, and in this we consider Metaverse-related companies to be critical to future growth. By that, I dont just mean Metaverse world builders but also the companies that provide open assets that will be used in the Metaverse for example, virtual car builders as opposed to an entire racing game.Another important quality that we look for is openness. We invest in projects that grow the open Metaverse and facilitate the delivery of true digital property rights based on assets that derive their utility from being open, interoperable and composable. This includes platforms and protocols (Flow, Polygon, etc.) and marketplaces (OpenSea, Bitski, BNV, etc.), as well as consumer products like games and worlds. In essence, the companies that we invest in must be open to openness.My concern is that the large Web 1.0 and 2.0 companies, which already enjoy a massive user advantage, will try to shape the Metaverse into a series of closed systems operated on their terms and under their total control. These proprietary metaverses are not likely to be very democratic and will lack the openness and digital property rights that should rightfully characterize the next iteration of our online experience.I think that tech giants like Facebook are unlikely to offer their metaverse users any meaningful degree of ownership or they might do so at face value, but then implement strict content and usage licenses as we see in social media services today. Without digital property rights, it will not be possible to create a democratic, responsible, equitable Metaverse. 3 Which countries are doing the most to support blockchain and which ones will be left behind?The winners in this arena will be countries with a history of serving alternative and/or fast-growing financial products and that are highly supportive of blockchain such as Liechtenstein, Singapore and Switzerland. Other winners will include highly developed economies that have contributed to and promoted the blockchain industry Germany, for example, where spezialfonds allow pension funds and insurers to hold up to 20% of investments as cryptocurrencies, and where the stock exchange (Deutsche Boerse) and a major bank (Commerzbank) have already invested to support the trading of NFTs.Countries that experiment and invest in the blockchain space will attract growth and the best and brightest talent, and those that dont will miss out not only on the benefits of the technology but also on the talent. One example of this is how Australian crypto companies are moving to places like Singapore and drastically lowering Australias competitive capacity in this important, growing segment of technology and finance.This alert about Australias missed opportunity is being sounded not only by crypto pundits and similarly interested parties but also by respected industry sources such as the CEO of National Australia Bank, one of the major financial institutions in the country.Countries with a well-established culture of disruptive innovation, such as the United States, continue to forge ahead in blockchain despite the risks involved and the lack of clarity from regulators. I think that the U.S., despite having more regulation, will remain a key environment for blockchain-related companies and associated venture capital (global crypto growth is fuelled in significant part by U.S. venture and other capital). Regulation is important, and I hope it can be achieved without stifling growth and innovation.The biggest losers will be countries that reject applications of blockchain (including crypto) and, particularly, countries that reject the entire digital asset space. The use of fungible and nonfungible tokens provides an open, transparent value system where growth is being driven by the network effect. The more people join this new open system, the stronger it becomes, while the old closed networks become more isolated and less attractive.For a nation, rejecting blockchain and crypto is like refusing to join the World Trade Organization and saying no to global free trade. 4 What talent do you lack and wish you had? How would you use it if you had it?Im…
  • BTC price eyes all-time high weekly close above $60K ahead of Bitcoin ETF turbulence News - 1 day ago
    Holding above $60,000 on Sunday should all but guarantee a record weekly close, data shows. Bitcoin (BTC) faces a pivotal weekly close on Oct. 17, with bulls scrambling to squash final resistance before all-time highs. BTC/USD 1-week candle chart (Bitstamp). Source: TradingViewBitcoin on the cusp of clearing final resistanceData from Cointelegraph Markets Pro and TradingView showed BTC/USD ranging throughout the weekend, crucially staying above $60,000.This week’s close was already tipped to be a deal-breaker, potentially being its highest ever — only once before has Bitcoin ended a weekly candle above the $60,000 mark.With hours left to go, analysts were bracing for a potentially pivotal moment, one that could open up the path to uncharted territory for bulls.“Another BTC Daily Close above the red area later today and Bitcoin will have confirmed a break beyond its final major resistance on the Weekly timeframe,” Rekt Capital commented.BTC/USD 1-day annotated candle chart (Coinbase). Source: Rekt Capital/TwitterFellow trader Pentoshi added that Bitcoin has now retouched its all-time high market capitalization on the daily timeframe, further reinforcing the “importance” of the current trading range.$BTC Market cap touched ATH close in the last candleSeems important— Pentoshi Won’t Dm You. hates Dm’s. DM's are scams (@Pentosh1) October 16, 2021 “Buy the rumor, sell the news?”Meanwhile, not just the end of this week but also the beginning of the next is tipped to provide exciting BTC price action.Related: BREAKING: ProShares follows Valkyrie in approval for listing Bitcoin Strategy ETFMonday constitutes the earliest conceivable launch day for the first approved United States Bitcoin exchange-traded fund (ETF) product.With BTC/USD climbing as rumors of the long-awaited go-ahead hit late last week, concerns that the episode will turn into a “buy the rumor, sell the news” event remain. This could provide for volatile trading conditions.Poll! The approval of a #bitcoin ETF by the SEC is a classic 'buy the rumor, sell the fact' event? #BitcoinETF— jeroen blokland (@jsblokland) October 14, 2021 As Cointelegraph reported, misgivings also revolve around regulators halting the debut of physical Bitcoin ETFs next month, something which analysts say will stop the lion’s share of institutional capital from entering the space.
  • Brazilian toddler makes over 6,500% profit on her first Bitcoin holding News - 1 day ago
    A father’s gift of 1 BTC (roughly $915.80) to his newborn daughter back in 2017 is now worth more than $60,000. A 4-year-old girl has reportedly earned over 6,500% profit on a one Bitcoin (BTC) gift she received on the day of her birth. João Canhada, the founder of a Brazilian crypto exchange Foxbit, gifted 1 BTC to his newborn daughter, roughly worth $915.80. Sharing details on the event, Canhada said:“As soon as my daughter was born, in 2017, I bought 1 Bitcoin for her, not just as a gift, but as a way of investing in this new economy. At the time, BTC cost 5,000 Brazilian Real.”Four years later, the one BTC investment has returned profits of over 6,500% for the child as the price of Bitcoin surges back to the $60,000 mark. The year 2017 was the last chance for investors to purchase Bitcoin under $1000, a fact Canhada was unaware of at the time.Related: British tween earns almost $400K on NFT sales without a bank accountJust last month, a 12-year-old boy from London reportedly made nearly $400,000 during the school holidays by selling a series of nonfungible tokens (NFT).According to a Cointelegraph report on this matter, London-based Benyamin Ahmed created and tokenized Weird Whales, a collection of digital pictures of whale emojis that were then sold in NFT form.While Ahmed was not eligible to open a bank account due to age restrictions, his father clarified that the reported earnings made through NFT sales have been converted to Ether (ETH).
  • Crypto traders fight in WBS Dubai for Amir Khan’s charity boxing match News - 1 day ago
    The event saw friendly boxing matches between prominent crypto Twitter entrepreneurs, with RookieXBT taking the WBC Crypto Champion belt. The World Blockchain Summit in Dubai hosted an exhibition boxing match between top cryptocurrency traders and influencers for the WBC Crypto Belt. The fights were supported by a charity event, featuring an auction of memorabilia including digital currency assets and nonfungible tokens (NFTs).What started off as a conversation for a friendly match with a small audience, saw the involvement of two-time World Boxing Champion Amir Khan and the Super Boxing League (SBL) as the organizer, in association with ByBit crypto exchange and World Boxing Council.Amir khan crypto fight night. 2 of the biggest crypto traders @RookieXBT vs @loomdart go head to head in a exhibition fight, also the heavyweight @wbcmiddleeast title fight. Stay tuned for more info. @BillDosanjh @amirkhanpromo @SBLHitHarder @DubaiSC @dubaitourism @arabnews— Amir Khan (@amirkingkhan) September 13, 2021 The event saw friendly boxing matches between prominent Crypto Twitter entrepreneurs such as Luke Martin (@VentureCoinist) Vs. Louis (@barneytheboi) and RookieXBT (@RookieXBT) Vs. loomlock.eth (@loomdart). The winners of the events were Louis and RookieXBT respectively, with RookieXBT taking the WBC Crypto Champion belt.WBC Crypto Champion hits different— RookieXBT (@RookieXBT) October 16, 2021 Here’s the Cointelegraph footage of RookieXBT’s knockout moment:Aaaannnnddd your winner is @RookieXBT. He wins the first-ever WBC Crypto Belt!— Cointelegraph (@Cointelegraph) October 16, 2021 According to a conversation with Cointelegraph at the WBS press conference, the crypto traders-turned fighters have trained for months day in day out, “no parties, no drinks, just hard work.” In addition, the boxing match attracted many crypto enthusiasts across the world that participated in the charity event, which will be donated to the Amir Khan Foundation.Khan, too, shared his excitement about SBL’s involvement with the crypto community:“By associating with crypto, we will further augment our endeavour to reach like-minded groups who believe in innovation and transformation.”Related: UAE regulators approve crypto trading in Dubai free zoneIn an ongoing bid to showcase Dubai as the future hub of blockchain, on Sept. 22, financial regulators in the United Arab Emirates officially approved the trade of cryptocurrencies in Dubai’s economic free zone. A Cointelegraph report from Sept. 23 shows that the Dubai World Trade Centre Authority (DWTCA) signed an agreement with UAE’s Securities and Commodities Authority (SCA) to allow regulated trading of crypto assets within the DWTCA free zone. Citing the development, SCA acting CEO Maryam Al Suwaidi stated “DWTCA is looking to support businesses underpinned by blockchain and cryptographic technologies.”
  • The crypto industry royally screwed up privacy News - 1 day ago
    Sadly, there are several reasons why the blockchain community has fallen short in making privacy a tier-one priority, and that must be changed. Privacy is a complicated topic. Few would argue that privacy is not important. It’s generally more interesting to talk about things that are disputable. So, the limited arguments against privacy actually make it somewhat boring to discuss and easy to take for granted. As Edward Snowden famously said: “Arguing that you don’t care about privacy because you have nothing to hide is like arguing that you don’t care about free speech because you have nothing to say.”However, what if your privacy is not a priority? What if your privacy is not guaranteed? What if everything you do is under constant surveillance?You might fight back.Unfortunately, this actually is the state of the cryptocurrency industry, and not enough people are in the fight to defend privacy.Transparency vs. privacyWhen I first read the Bitcoin (BTC) white paper in 2011, I fell in love with the vision for a peer-to-peer electronic cash system. Most societies have physical cash — legal tender — so, in a digital society, what is the physical cash equivalent? Satoshi Nakamoto seemed to come up with an elegant answer to that question, and a multi-trillion dollar market has emerged around it. Sadly, Satoshi’s original idea has fallen short in at least one area, and that’s privacy.Legal tender is private. When someone exchanges coins or banknotes (aka “bills” in the U.S. and Canada) for a good or service, that transaction is only known to the two parties involved. Identification is requested if the good or service is restricted to certain age groups (beer runs aren’t for everyone). Further, if you hand a $10 bill to the lady at the local farmer’s market, she can’t look up how much you have left in your bank account.However, transactions on the Bitcoin blockchain are radically transparent. This means transaction amounts, frequency and balances are all open for the entire public to see. The Bitcoin white paper only dedicates a half-page to the topic of privacy with suggested workarounds that don’t always work as intended, especially for second generation account-based blockchains such as Ethereum.There are user guides on how to achieve more privacy using Bitcoin, but they are extremely complicated and generally recommend using tools that can be dangerous for users. There are also a few blockchain networks that have been designed with privacy as the default, but most do not support more complex programmability such as smart contracts, which enable new use cases involving business logic in decentralized finance (DeFi).Related: DPN vs. VPN: The dawn of decentralized web privacyLeaving privacy behindWhy has the blockchain community fallen short in making privacy a tier-one priority? For one, privacy has taken a back seat to three other priorities: security, decentralization and scalability. Nobody will argue that these three components aren’t important either. But do they have to be mutually exclusive to privacy?Another reason privacy has not been prioritized is that it’s very hard to guarantee. Historically, privacy tools such as zero-knowledge proofs have been slow and inefficient, and making them more scalable is hard work. But, just because privacy is hard, does that mean it should not be a priority?The last reason is probably the most concerning. There’s a myth in the media that crypto transactions are completely anonymous. They are not. This means that many people have been actively using crypto under the fallacy that their transactions are private. As blockchain network analysis tools become more sophisticated, the lack of anonymity increases. So, when does privacy become important enough to make it a priority?Related: Bitcoin can’t be viewed as an untraceable ‘crime coin’ anymorePrivacy FinanceA friend of mine who has worked in the crypto industry full-time since 2015 recently asked me, “WTF is PriFi?” PriFi, or “Privacy Finance,” is the crypto industry’s admission that we royally screwed up with privacy. We screwed up so badly that, 12 years into this industry’s evolution, we are just now getting to the point where privacy is important enough to have its own hashtag.So, where do we go from here to build more privacy that protects everyday crypto users and achieves the digital privacy equivalent of cash?The first step is more education. As society becomes increasingly digital, privacy is becoming harder to achieve. This starts with educating the media on the differences between secrecy and privacy. Secrecy is not wanting anyone to know something. Privacy is not wanting the whole world to know something. Secrecy is a privilege. Privacy is a right.The next step is to make privacy simpler. Achieving privacy in crypto should not require clunky workarounds, shady tools or a deep expertise of complex cryptography. Blockchain networks, including smart contract platforms, should support optional privacy that works as easily as clicking a button.The final step is to defend privacy. Privacy is a timely issue. The recent U.S. infrastructure bill includes a clause to extend section 6050I of the tax code, which requires individual counterparties to collect personal information on each other for cash transactions over $10,000, and applies it to cryptocurrencies. Coin Center, a pro-crypto nonprofit advocacy and research group, is preparing to challenge the constitutionality of this change for crypto. You can too, here.Armed with proper education, an intuitive user experience, and motivation to make privacy a priority for crypto, we can defend our rights without being reckless and maintain sensible privacy on our own terms. The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.Warren Paul Anderson is vice president of product at Discreet Labs, which is developing Findora, a public blockchain with programmable privacy. Previously, Warren led product at Ripple for 4.5 years, working on the XRP Ledger, Interledger, & PayString protocols; the RippleX platform; and RippleNet’s On-Demand Liquidity enterprise product. Prior to Ripple, in 2014, Warren co-founded Hedgy, one of the first DeFi platforms for derivatives using programmable, escrowed smart contracts on the Bitcoin blockchain.
  • Binance launches $1B BSC fund, BTC futures ETF approval could arrive soon, and Celsius raises $400M: Hodler’s Digest, Oct. 10-16 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 to launch $1B fund to develop BSC ecosystemBinance, the worlds biggest cryptocurrency exchange, announced an accelerator fund worth a whopping $1 billion this week. The funds will go toward supporting the development of the Binance Smart Chain ecosystem.Binance outlined that the 10-figure sum will be part of a tiered development model across four specialist areas: Talent Development, the Liquidity Incentive Program, the Builder Program and the Investment & Incubation Program.The largest benefactor of the fund is said to be the Investment & Incubation Program, which will receive around $500 million, according to Binance. The branch will focus on multichain expansion in areas such as metaverses, gaming, virtual reality and artificial intelligence. Coinbase follows FTX and Binance in launching NFT marketplaceCoinbase announced on Tuesday that it is launching an NFT marketplace later this year. The platform will initially support tokens from the Ethereum blockchain and will be launched in the U.S. before being expanded globally.Given that Coinbase tallied around 68 million verified users and 8.8 million monthly active users in Q2, the firms new NFT platform could soon mount some serious competition to giants such as OpenSea.Evidence of this was seen after the announcement, as sign-ups for the waitlist reached almost 1.1 million people within 48 hours. In contrast, data from DappRadar shows that OpenSea has a rolling 30-day average of 261,000 active users. G7 leaders issue central bank digital currency guidelinesThe Group of Seven (G7) forum, composed of the worlds seven largest advanced economic nations, discussed a totally centralized form of digital assets called central bank digital currencies (CBDCs) this week. The meeting resulted in the endorsement of 13 public policy principles regarding their implementation.The G7 determined that any newly launched CBDCs should do no harm to the central banks ability to maintain financial stability, suggesting that harm to individual sovereignty by tracking ones spending habits and programming their money is on the table.Some of the CBDC-focused policies included mandates that the digital currencies must be energy efficient and fully interoperable on a cross-border basis, along with complementing the current cash-based system. Crypto lending firm Celsius Network raises $400MCrypto lending platform Celsius Network raised $400 million in an equity funding round led by Caisse de dpt et placement du Qubec and WestCap. The firm said it will use the fresh capital to double its headcount to around 1,000 employees and expand its offerings and products.Its not $400 million. Its the credibility that comes with the people who wrote those checks, Celsius Network co-founder Alex Mashinsky said in an interview with the Financial Times on Tuesday.Another firm to close a capital raise was crypto risk management company Elliptic, which raised $60 million in Series C funding. The round was led by Evolution Equity Partners and included support from SoftBank Vision Fund 2, AlbionVC, Digital Currency Group, Wells Fargo Strategic Capital and SBI Group, to name a few. Top engineers working on Facebook’s wallet jump ship to A16z’s crypto fundReports surfaced on Monday that two of the top engineers working on Facebooks spooky digital currency project packed their bags and took a hike to venture firm Andreessen Horowitz (a16z).The engineers who escaped the clutches of Mark Zuckerberg are named Nassim Eddequiouaq and Riyaz Faizullabhoy. The duo spent two years working on Facebooks digital wallet dubbed Novi. Faizullabhoy will serve as the chief technology officer of a16z’s crypto division, while Eddequiouaq will take on the role of the chief information security officer.Andreessen Horowitz has shown an impressive dedication to advancing the entire crypto ecosystem over the past decade, and we jumped at the chance to join their premier team and provide technical support to their rapidly expanding portfolio, Faizullabhoy said.  Winners and Losers  At the end of the week, Bitcoin (BTC) is at $60,687, Ether (ETH) at $3,817 and XRP at $1.13. The total market cap is at $2.44 trillion, according to CoinMarketCap.Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Stacks (STX) at 38.94%, Perpetual Protocol (PERP) at 30.55% and Telcoin (TEL) at 24.63%.The top three altcoin losers of the week are Arweave (AR) at -21.68%, Terra (LUNA) at -17.50% and Fantom (FTM) at -15.41%.For more info on crypto prices, make sure to read Cointelegraphs market analysis.   Most Memorable Quotations Bitcoin is a lot less risky at $43,000 than it was at $300. Its now established, huge amounts of venture-capital money have gone into it, and all the big banks are getting involved.Bill Miller, founder of Miller Value Partners I think the big difference between Ethereum and Bitcoin is that Bitcoin is a platform where the value of the ecosystem comes from the value of the currency but, in Ethereum, the value of the currency comes from the value of the ecosystem.Vitalik Buterin, co-founder of Ethereum I can say I have a gold ETF or a Bitcoin ETF, but Im storing that gold in my basement. Is the SEC going to allow that? Probably not. Unless companies can show they can custody it and actually address a lot of the issues Gensler specifically mentioned, its not going to work.Tad Park, founder and CEO of Volt Equity Im not a student of Bitcoin and where its going to go, so I cant tell you whether its going to $80,000 or zero. But I do believe that there is a huge role for a digitized currency, and I believe thats going to help consumers worldwide whether its a Bitcoin or something else, or more of a governmental official digital currency, a digital dollar, that will play out.Larry Fink, chairman of BlackRock We haven’t even gotten to the parabolic growth part of Web 3, which is going to create untold wealth.Mark Yusko, CEO of Morgan Creek Capital The reason I own Bitcoin is because the U.S. government and every government in the western hemisphere is printing money now to…
  • The crypto industry is still waiting for its ‘iPhone moment’ News - 1 day ago
    The most important innovation that the iPhone brought — which the crypto space needs to gain mass adoption — is the user experience. This year, a great crypto cycle has played out with new all-time highs, euphoria and mainstream media paying lip service to the crypto trend du jour. However, the uncomfortable truth for us in the industry is that crypto is no more present in most people’s daily lives than it was in 2017. Four years have passed — what stalled its progress?2017 marked my first professional foray into the blockchain space when I joined (then known as Monaco) as its first chief marketing officer. The company grew to become one of the largest crypto service providers and fiat-to-crypto gateways in the world.During that time, the crypto space changed. Payments are much less of a focus and many of the projects aimed at crypto adoption have been sidelined. Decentralized finance (DeFi) and nonfungible tokens (NFTs) have taken the spotlight, but they’re ultimately focused on crypto trading and unable to help the real world in any meaningful way — at least, for now.Related: Is crypto approaching its ‘Netscape moment’?The situation reminds me of the mobile industry before the advent of the iPhone and the revolution spearheaded by Steve Jobs. Technology and features were being stacked on top of each other but with no additional impact for the end-user, even though there was plenty of buzz.A mobile marketing pioneer, I worked with the Mobile Marketing Association for more than ten years in Asia (served as chair during 2009–10) and saw firsthand the development of the industry. One thing that people misunderstand about that revolution is that Apple did not “invent” the smartphone to any meaningful extent.From zero to hero with just one innovationIf you ask someone on the street what made the iPhone so successful, you’ll get at least half a dozen different answers. It was apps and the App Store, some people say. For others, it was Gorilla glass and the touchscreen. It was 3G (actually, the first iPhone did not even have it), the Wi-Fi connection, the camera, the comfortable size, the sleek design…Of course, all of these factors contributed. But consider that, in some form, all of those features already existed in other phones. Nokia had the Symbian OS and it featured a quite rich ecosystem of apps. The same thing goes for BlackBerry, which was quite advanced for its time in terms of hardware and software — for example, in 2005, it released BBM, the proto-WhatsApp/iMessages. Palm and plenty of other companies were making “pocket computers” with stylus touchscreens. Nokia excelled with camera phones and predictive text, Motorola dazzled everyone with the Razr’s design, and so on.The only independent innovation that the iPhone brought was the user experience (UX), and more specifically, the multi-touch capacitive screen. It introduced gestures, on-screen QWERTY keyboards, and the basic smartphone design we know today, but nothing else in the iPhone was, by itself, new. It simply was the ultimate phone — as Steve Jobs said at the time, “An iPod, a phone, and an internet communicator… not three separate devices. This is one device,” — which offered a simple to use, sleek and good-looking device, packed with features. The rest, as they say, is history.Crypto has yet to have its iPhone moment.Reframing crypto as the means, not the endWhen we talk about crypto adoption, we need to recognize the utilitarian considerations of the average person. The vast majority think about cost and utility well before any idealistic concern. Organic food has its place, but it’s a small niche — most people buy food based on its taste and cost. Electric cars struggle because they offer a significant number of practical disadvantages and because they’re generally much more expensive.Positioning crypto as an amazing tool for financial freedom and decentralization will ring hollow to most people. By far, the most significant reason why people get into crypto now is price gains, not its utility. Crypto is useful in certain applications, such as cheap global transfer of value. But there are many practical disadvantages to using crypto for payments, which mostly have to do with the integration with existing financial rails. The user experience of using crypto to pay for stuff has been, frankly, atrocious — with complicated fees, confirmation times and difficult units compounding the adoption struggle.Related: Mass adoption of blockchain tech is possible, and education is the keyThere are no perfect analogies but I think that the “multi-touch capacitive screen” of crypto is reframing it as a means, and not the end. The average person does not care about crypto, itself, they care about what it gives them. If you promise them Lambos and moons, they will listen but that only gets you so far.What if you used crypto to cut out the middleman between you and your money to deliver (nearly) free transfers of money, foreign exchange, interest rates that a normal person can only hope to pay, not receive, and other benefits that would make Black Cardholders jealous?You can bet the average person would be interested.This is the strategy we adopted: a redeemable membership fee granting access to a suite of useful financial, travel and lifestyle services, which are easily accessible from both mobile and web apps, and even chat services like WhatsApp or Telegram. We acted in two directions: removing any friction of using our product and making it immensely useful to everyone. Just like the iPhone back in the day.Of course, there is a long journey ahead. But if more projects in crypto operated outside of the box and focused on utility and not just crypto for speculation’s sake, it just might bring us back onto the path of mainstream adoption we embarked on in 2017.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect…
  • Truly decentralized finance will be beyond siloed blockchains News - 1 day ago
    To be the future lifeline of industries, blockchain technology needs to embrace the old-fashioned quality of interconnectivity. “Yahoo users will not be able to interact via mail with Google email (Gmail) users,” — If tomorrow’s headlines sounded like this, the earth would come to a halt. This headline shall never see the light for all the right reasons. However, blockchain tech and its favorite son, decentralized finance (DeFi), are heading towards this rabbit hole.Siloed blockchains with no window for external communication are dominating the nascent space. Interconnectivity is elementary and synonymous with the primitive human quality of being social. From the days of the barter system, transfer and exchange have been the two core practices on which the world has been built.Networking among blockchains and the need for IBCCurrently, blockchain applications and the DeFi juggernaut are nothing but a balkanized group of solutions failing to realize their true potential. To resolve this concern, blockchain networks need to shake hands with other networks and be open to a sovereign network of interconnected blockchains.The Inter-Blockchain Communication (IBC) protocol shall facilitate this shaking of hands. It lays the platform that can transfer data across different networks and facilitates the cross-chain transfer of assets and tokens. And since IBC is a blockchain agnostic protocol, it has no native network and offers an unbiased solution to the entire world of blockchain solutions.Major blockchains, like Bitcoin and Ethereum, are siloed without a transport layer. This limits their capabilities. Imagine Bitcoin being able to power Ethereum-based smart contracts in a permissionless manner. Had this been so, users would have been able to embrace the boundless functionality of Ethereum’s smart contract alongside the world’s popular currency in Bitcoin (BTC).Related: A multichain approach is the future of the blockchain industryAlso, Ethereum’s scalability concerns are a testament to why siloed blockchains need Inter-Blockchain Communication. By making networks interoperable, transactions can be parallelized to avoid network congestion. Using IBC, Ethereum can validate transactions quickly with fewer gas fees, attracting more people to use the network and its applications.Moreover, blockchains seeking to be enterprise-level solutions need IBC and interoperability to cater to their clients at scale. By enabling cross-chain transactions, networks like Ethereum and Bitcoin can enjoy institutional adoption. How? To date, these networks work on the probabilistic conduct of transactions, i.e., the finality of blocks. But with IBC, chains and peg-zones can be used to guarantee finality.With blockchain tech desirous of revamping the working of huge industries like supply chain and healthcare, IBC injects a potion of reliability into the technology and its solutions.Prior efforts to achieve IBC were unitedly fragmentedInter-Blockchain Communication and interoperability are not novel concepts in the blockchain world. Efforts to achieve them have been in the talks for years now and there have been multiple projects working towards connecting different blockchain networks. But the projects championing interconnectivity were themselves fragmented as their approaches, designs and use cases differed.Related: Professional traders need a global crypto sea, not hundreds of lakesProtocols like Cosmos with its Tendermint core, Polkadot and Chainlink have championed IBC and interoperability in their solutions. The emergence and adoption of these solutions are a giant stride towards an interoperable future.Blockchain agnostic and omnichain is the way forwardMoving forward, exclusivity will be the biggest enemy of blockchain tech. In times of decentralization and community-first approaches, exclusive networks tread a dangerous path. Protocols must embrace IBC and provide solutions at scale.Besides integrating IBC, two weapons with which future protocols can equip themselves are blockchain agnostic and omnichain. This would remove the element of exclusivity and open them to limitless utilities across networks. It would also improve the feasibility and reliability for institutions, corporations and maybe even governments to adopt blockchain-based solutions.The DeFi juggernaut catalyzed the growth of blockchain and crypto space in 2021. Interoperability and IBC are the ones to look out for in the future.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.Jared Moore is the director of marketing at Sifchain, the omnichain solution for decentralized exchanges. Jared has extensive experience in the crypto space, especially with exchanges.
  • Finance Redefined: Celsius raises $400M, and Rari’s 7.5K% yields, Oct. 11—15 News - 1 day ago
    Lending firm Celsius raised $400 million, Rari Capital exceeded $1 billion in TVL, and North America witnessed surging crypto volume — all included in this week’s Finance Redefined. Welcome to the latest edition of Cointelegraph’s decentralized finance (DeFi) newsletter.In a week where Rari Capital achieved the $1billion TVL milestone, read on to discover why OlympusDAO is yielding four-figure sums on its most popular protocol. 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.Celsius Network raises $400M to expand institutional serviceCryptocurrency lending platform Celsius Network announced a $400 million equity fundraise this week led by Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ) and equity firm WestCap, taking the company’s valuation in excess of $3 billion.The firm has expressed intentions to utilize the funds in a two-fold strategy: enhance its institutional product and service offering, as well as doubling the workforce to nearly 1,000 employees across the globe.Celsius Network CEO Alex Mashinsky revealed to Cointelegraph the financial impact the platform is having on the lending sector:“With more than $25 billion in assets and over $850 million in yield paid to over 1.1 million users, Celsius has distributed 10x more yield for the crypto community than any other lender.”This funding news coincides with enhanced political scrutiny for crypto lending platforms in the United States. In September this year, Celsius encountered legislative resistance from the Texas State Securities Board and New Jersey Bureau of Securities, which threatened to terminate activity due to the alleged selling of unregistered securities.Despite this, Celsius has consistently maintained its innocence of wrongdoing and has been willing to communicate and cooperate with regulatory agencies.Rari Capital smashes $1B in TVL DeFi protocol Rari Capital surpassed $1 billion in total value locked (TVL) this week to reach an all-time high of $1.225 billion according to analytical data from ranking platform DeFi Pulse.The eight-figure total marks a monumental rise from $500 million two weeks ago and just $100 million three months ago. Launched in July 2020, Rari provides an automatic yield optimizing strategy to participants in the DeFi space seeking to secure the highest possible return from their investment.A number of its liquidity pools have garnered noticeable attention for their lucrative returns, such as the USDC deposits, which offer a 21.67% annual percentage yield (APY), and the Dai pool, which offers 26.43% APY.Despite these higher-than-average returns in comparison to the industry standard, it has been the OlympusDAO within the Fuse Protocol’s Tetranode’s Locker that has truly stolen the headlines over the past few months.OlympusDAO is an algorithm-centric rebase model whereby token balances fluctuate over time depending on changes in the token price and the supply in circulation. As of writing, the OlympusDAO sOHM token is yielding a seismic 7,594% APY. North America’s surging DeFi volume Monthly cryptocurrency transaction volume in the North American region expanded 1,000% over a one-year period from July 2020 to June 2021 by virtue of the flourishing DeFi sector according to data released this week by analytics platform Chainalysis.The annual Geography of Cryptocurrency Report revealed that monthly volume peaked at $164 billion during May 2021 before descending to $100 billion in June. In addition, DeFi transactions equated to 37% of the region’s total volume at $276 billion.David Gogel, growth lead at decentralized derivatives exchange dYdX, commented on the findings that the biggest volume recorded was driven by retail consumers:“Right now, DeFi is targeted towards crypto insiders. It’s people who have been in the industry for a while and have enough funds to experiment with new assets.”Token performancesAnalytical data reveals that DeFi’s total value locked has increased 8.11% across the week to a figure of $146.89 billion.Data from Cointelegraph Markets Pro and TradingView shows that DeFi’s top 100 tokens by market capitalization performed varied across the last seven days.Perpetual Protocol (PERP) secured the podium’s top spot with a respectable 29.7%. RenBTC (renBTC) came in second with 6.03%, while Wrapped Bitcoin (wBTC) came a close third with 6.00%.Analysis and deep dives from the last week:DeFi picks up the pace as alternate blockchains and NFTs boomDo you still compare Bitcoin to the tulip bubble? Stop!Survivorship bias has led to an imbalance in the crypto ecosystemThanks for reading our summary of this week’s most impactful DeFi developments. Join us again next Friday for more stories, insights and education in this dynamically advancing space.
  • Bitcoin entering final stage of major bull trend, crypto analyst says News - 1 day ago
    According to crypto analyst and trader Alessio Rastani, Bitcoin will finalize its upward trajectory toward $100,000 in the next few months. Trader and cryptocurrency analyst Alessio Rastani believes Bitcoin (BTC) is entering the final stage of the current bull market, which will propel the leading cryptocurrency to a $100,000 price target. To explain his prediction, Rastani cited the Elliott Wave Theory, which divides upward price trends into five waves. Rastani believes we have entered the final wave of a bull trend that started at the beginning of 2019 and that should see its top at some point next year. “When this five-wave move completes, then I’m expecting a bear market,” he said. Elliott Waves Model. Source: leadingtrader.comCiting research by behavioral finance expert Jason Goepfert, Rastani predicted that the next Bitcoin bear market may coincide with a broader downtrend in traditional markets, which could come “in the next couple of years.” Rastani pointed out that Bitcoin would be negatively affected by a stock market correction, given that both stocks and BTC are risk-on assets. “When there’s an appetite for risk, both markets go up. But when there’s low appetite, when there’s little appetite for risk, they go down.”Check out the full interview on our YouTube channel, and don’t forget to subscribe!
  • Why HODL for 48 hours? Because your altcoin wallet will thank you News - 1 day ago
    Even in the fast-paced cryptocurrency market, favorable conditions that fuel massive rallies often take days to materialize. It might seem that the volatility of digital assets’ prices and the lightning speed with which crypto markets move would mean that those who act fastest secure the heftiest rewards. And, in certain cases, this holds true. For example, when an announcement of a token’s listing on Coinbase or Binance first goes public, and the asset’s price line becomes all but vertical.But, in many cases, the tortoise beats the hare.This principle is clearly at work when it comes to traders using quant-style tools to enhance their decision-making. One example is the VORTECS™ Score, an algorithmic comparison between historic and present patterns of market and social activity around a coin.While the VORTECS™ algorithm is trained to detect historically bullish conditions around crypto assets, high scores are rarely followed by price surges immediately. In fact, the highest returns consistently arrive over the next few days after peak scores show up. What does it reveal about the nature of the crypto market?The early bird gets the worm (but waits to eat it)Exclusively available to the subscribers of Cointelegraph Markets Pro, the VORTECS™ Score is an artificial intelligence-powered indicator that looks for historic similarities across a multidimensional set of variables. These include changes in the price of a crypto asset, trading volume, social sentiment and tweet volume, among others. The higher the VORTECS™ Score, the more confident the model is that the observed combination of the key metrics around the token resembles past conditions that foreshadowed significant price hikes. Scores above 80 are considered confidently bullish, while a rarer sight of a 90+ Score suggests that the asset’s outlook is tremendously favorable, judging by its historic record of price action.The timing, however, is intentionally fuzzy, as the model is designed to detect conditions that had previously preceded rallies by 12 to 72 hours. In fact, although the algorithm is designed to flag bullish conditions as early as possible, it consistently delivers best results to crypto traders within days, rather than hours.Historical data show that, on average, assets that score high on the VORTECS™ Score deliver consistent small returns as soon as six hours after reaching the Scores of 80, 85 and 90. Thus, crypto investors who rely on Markets Pro data to refine their trading strategies are often tempted to lock in profits early. The same data, however, suggests that it often makes sense to hold steady rather than grab the initial gains.HODL, if only for a day or two?The table below presents average returns after a crypto asset cleared a score of 80, 85, or 90 over a week. Each asset could only yield one observation per day, i.e. if a coin went from 79 to 81, then back to 79 and then to 80 once again in a few hours, only its first entry to 80+ would count.As visible in the table, the more time passes after assets clear the threshold of 80, 85, or 90 VORTECS™ Score, the more likely they are to deliver larger returns. While these stats only reflect price movement from a single week, the pattern is actually observed very consistently throughout Markets Pro history, dating back to early 2021.In fact, 48 hours is not the limit. When it comes to ultra-high scores above 90, some Markets Pro subscribers report generating consistently large gains from holding such coins for a full week, or 168 hours.These observations suggest that the crypto market could be not as chaotic and whimsical as many believe. Although many moves are clearly driven by waves of FUD and hype, the wider marketplace of digital assets exhibits identifiable regularities and recurring patterns of trading and social activities that can take days and weeks to build up before they move asset prices.Cointelegraph Markets Pro’s VORTECS™ Score is simply one way to identify the conditions that lead to these moves — as early as possible. It’s up to the individual trader to decide when to take the profits.Cointelegraph Markets Pro is available exclusively to members on a monthly basis at $99 per month, or annually with two free months included. It carries a 14-day money-back policy, to ensure that it fits the crypto trading and investing research needs of subscribers, and members can cancel anytime.Cointelegraph is a publisher of financial information, not an investment adviser. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and charts are correct at the time of writing or as otherwise specified. Live-tested strategies are not recommendations. Consult your financial advisor before making financial decisions.
  • Guernsey regulator approves Jacobi Asset Management’s Bitcoin ETF launch News - 1 day ago
    GFSC-approved Jacobi Bitcoin ETF is a centrally cleared crypto-backed financial instrument with custody supported by Fidelity Digital Assets. Jacobi Asset Management, a London-based multi-asset investment platform, received approval from the Guernsey Financial Services Commission (GFSC) to launch a Bitcoin (BTC) exchange-traded funds (ETF). Speaking to Cointelegraph, Jacobi Asset Management CEO Jamie Khurshid said that the regulatory clarity helps corporations and institutions to get involved in Bitcoin investments safely without all the risks associated with the technology and counterparties.According to an official statement, Jacobi Bitcoin ETF is a centrally cleared, crypto-backed financial instrument that is supported by Bitcoin custody provided by Fidelity Digital Assets. The approval from GFSC allows investors to trade Jacobi Bitcoin ETFs on traditional stock markets across “all jurisdictions outside of America and others with similar restrictions.”Khurshid, who is also a former Goldman Sachs investment banker, highlighted that the funds are “centrally cleared with securities held at the leading central securities depository (CSD),” a process familiar to traditional asset managers. Addressing investors across the authorized jurisdictions, Khurshid said:“We have feeder funds being set up around the world that will be investing solely in Jacobi Bitcoin ETF to service their domestic demand.”Moreover, the company intends to list the Jacobi Bitcoin ETF on the Cboe Europe equity exchange, which has yet to be granted listing approval by Financial Conduct Authority (FCA), a financial regulator in the United Kingdom.Related: Regulating crypto could give it ‘halo’ of legitimacy, says UK watchdogOn Sept. 6, Charles Randell, chair of the FCA and Payments Systems Regulator, raised concerns about the lack of risk awareness among crypto investors in a speech written for the Cambridge International Symposium on Economic Crime. Randell highlighted the role of influencers such as Kim Kardashian promoting unverified tokens on Instagram, which according to him could potentially mislead underinformed investors. “Why should we regulate purely speculative digital tokens? Will the involvement of the FCA give them a ’halo effect’ that raises unrealistic expectations of consumer protection?”On the other hand, the United States Securities and Exchange Commission has taken a proactive approach to allow ETF offerings on traditional exchanges. Crypto financial services company Bakkt will become the latest company to be listed on the New York Stock Exchange, under the ticker symbol “BKKT.”
  • Asian CBDC projects: What are they doing now? News - 1 day ago
    Governments in Asia are quickly researching or implementing CBDCs. What does this mean for the region’s overdependence on the U.S. dollar? The rapid growth of mainstream attention toward cryptocurrencies has forced the hands of numerous governments to create their digital alternatives. Over the past few years, interest from various jurisdictions has been pointed towards central bank digital currencies (CBDCs) — digital versions of government-issued fiat.Given their capacity to use blockchain technology to facilitate a simplified fiscal policy — not to mention calibrate privacy features and even provide cross-border banking services to the unbanked — CBDCs continue to gain even more attention from various governments worldwide.Already, surveys show more than 80% of central banks are researching CBDCs, with some working on proofs of concept that could eventually lead to the introduction of fully functional CBDCs. Out of the surveyed central banks, 10% plan to offer a retail version of a CBDC in the next three years, with another 20% set to make the move in under six years. In Asia, these efforts have been compounded by China’s release of the world’s first CBDC after setting up a task force as early as 2014. By 2016, the People’s Bank of China (PBoC) had already established a Digital Currency Institute, which developed a prototype CBDC.Major Asian banks have shown great interest in CBDCs as reports show collaborative efforts by Thailand’s, Hong Kong’s and China’s central banks to create a digital ledger technology (DLT) for a CBDC prototype designed to bridge cross-border gaps. In this article, we give you a brief look at some developing CBDC projects on the Asian continent.ChinaChina ranks among the world’s top economies to embrace digital currencies with the release of the digital yuan — a CBDC project issued by the PBoC. Dubbed the Digital Currency Electronic Payment (DCEP) China’s digital yuan (e-CNY) is set to completely replace cash payments and has been rolled out in the country’s major cities since April 2020. China’s DCEP, while sporting some anonymity features, is controlled, tracked and registered on smartphone apps by the Chinese government, giving them the ability to freeze accounts at will. Perhaps one of its advantages is the fact that users on China’s DCEP network can reverse or correct erroneous transactions, which is one of the features that is non-existent on decentralized digital currencies like Bitcoin (BTC). As China’s CBDC takes shape, various countries (especially the United States) have grown increasingly concerned that the new CBDC initiative will help China tighten increased surveillance on its citizens and private companies. The move is also seen as an attempt to supplant the dominance the U.S. dollar enjoys in international trade. Even so, China’s e-CNY remains highly localized with no significant attempts by the Asian nation to take its CBDC international.Hong KongJust recently, the Hong Kong Monetary Authority (HKMA) released a white paper discussing plans to experiment on the benefits of retail CBDCs for the city’s cross-border markets. Hong Kong is now governed under a one-country, two-system framework where it maintains its own financial and judicial system separate from mainland China. However, HKMA is working with China’s central bank to explore the infrastructure development of its digital Hong Kong dollar (e-HKD).According to the white paper, “The architecture proposed in Hong Kong’s e-HKD features a flexible and efficient two-tier distribution model of a CBDC that enabled privacy-preserving transactions, traceability and cross-border synchronizations of ledgers.”The white paper is the result of CBDC research by Hong Kong’s major financial authority that has been ongoing since 2017 under the aegis of “Project LionRock.” The HKMA considered the opinions of academic and industry experts and plans to conduct more trials to ensure the readiness of both a retail and wholesale CBDC.South Korea South Korea’s latest move towards a CBDC has seen the Bank of Korea (BoK) make calls for a technology partner to help pilot a CBDC program set to run till the end of the year. In a report published by BoK in February this year, the central bank announced plans to test and distribute a digital won while outlining the legal challenges that accompany a state-issued digital currency.Apart from selecting a technology partner to help with the project, BoK has also announced that its CBDC will first operate in a limited test environment in order to analyze the functionality and security of the CBDC.According to previous remarks by a BoK official, South Korea’s cash transactions are on the decline, and the central bank is only taking steps in preparation “for the expected changes in payment settlement systems [worldwide].”The PhilippinesIn the summer of 2020, the central bank began to consider the creation of a CBDC by forming a committee task force to study the issue.Bangko Sentral ng Pilipinas had confirmed in a virtual briefing that a committee was set up to look into CBDCs. In the briefing, Governor Benjamin Diokno explained that a feasibility test and an evaluation of the policy mechanisms of issuing a CBDC were underway. Like most governments and traditional financial institutions, the officials in the Philippine government were not shy to admit to the significance of blockchain technology. Diokno said, “Cryptocurrency for us has always been beyond the asset itself but more on the blockchain technology that underpins it.” In line with these remarks, the Philippine Bureau of the Treasury, in partnership with the Philippines’ Digital Asset Exchange and UnionBank, had launched a mobile application built on blockchain tech for distributing government-issued treasury bonds.A few months later, however, saw the Philippines’ central bank reject the possibility of issuing a CBDC any time soon. Citing the need for ongoing research and study, the country’s central bank noted that its CBDC research so far could benefit from looking at established use cases of digital currencies in the private sector as well as other industrial applications.Singapore From as early as 2016, the Monetary Authority of Singapore had been looking into CBDC initiatives and is now seeking commercial partners to help develop the currency.By setting up challenges and competitions to discover and develop a retail CBDC, Singapore was able to establish a healthy diversity of solutions with the participation of…
  • BTC price hovers above $61K amid fresh concerns over fate of physical Bitcoin ETF News - 2 days ago
    Suspicions arise over U.S. regulators’ acceptance of physical Bitcoin ETF products later this year, amid reports than investors are voting with their feet. Bitcoin (BTC) saw some rare calm on Oct. 16 as the market continued to digest the approval of the United States’ first exchange-traded funds (ETFs).BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewLack of faith over non-futures ETF approvalsData from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $61,500 on Saturday, still up by 4% in 24 hours. The pair had hit $62,940 hours after the Wall Street open on Friday as news hit that regulators had green-lit two ETF applications after years of failed applications.These ETFs will have CME Bitcoin futures as the underlying asset, rather than Bitcoin itself, with the Securities and Exchange Commission (SEC) set to begin deciding the fate of “physical” ETFs next month.Futures-based ETFs have had a mixed reception, with opinions varying considerably on their market impact and overall effect on Bitcoin price action.”We are not sure if these futures-based ETFs will be able to draw enough new money to trigger an exponential move higher like the one we saw in Q4 2020,” crypto trading firm QCP Capital stated in its latest market update. “We do expect inflow from investors switching out of Gold ETFs into BTC. However, with BTC above 60k, the market capitalisation is above $1.1 trillion. It’s going to take a lot to move the needle.”QCP pointed out that the nature of futures ETFs meant that the products would likely appeal more to retail rather than institutional investors, with the lion’s share of potential capital inflow into Bitcoin thus reserved for physical products.These, however, may be a long time coming, as investors pile into existing Canadian and European physical Bitcoin ETFs instead of waiting for a potential change of play from the SEC and its new Chair, Gary Gensler.”We suspect that after SEC Chair Gensler indirectly ruled out a physical BTC ETF in the US for the foreseeable future, investors able to access these overseas markets have decided to participate there rather than investing in the upcoming futures ETFs in the US,” QCP added.Bitcoin futures open interest chart. Source: BybtBulls out in force despite “priced in” ETFAs Cointelegraph reported, the outlook for the rest of 2021 nonetheless remains rosy in the eyes of analysts, with Bitcoin tipped to reach anywhere up to $300,000.Related: Bitcoin gets green light for price discovery with ‘almost no supply’ on exchanges above $59KA subsequent bearish phase, even on a macro scale, will likely have a floor of no less than $47,000, data suggests.One day, a #BTC Bear Market will comeBut today is not that day$BTC #Crypto #Bitcoin— Rekt Capital (@rektcapital) October 16, 2021 Meanwhile, institutional trading firm Bakkt is set to begin trading on the New York Stock Exchange next week.
  • Crypto finserv firm Bakkt to soon trade publicly on New York Stock Exchange News - 2 days ago
    Starting Oct. 18, Bakkt’s common stock and warrants will be listed on NYSE under the ticker symbols “BKKT” and “BKKT WS,” respectively. Bakkt Holdings, the digital assets management arm of Intercontinental Exchange (ICE), has announced it will soon become a publicly traded company on the New York Stock Exchange, starting Oct. 18. The public listing for Bakkt comes as a result of a merger with VPC Impact Acquisition Holdings, a Chicago-based special purpose acquisition company. According to an official statement, a shareholders meeting regarding the merger saw approximately 85.1% approval for the business combination:“Upon closing, the combined company’s Class A common stock and warrants are expected to begin trading on the New York Stock Exchange (“NYSE”) under the ticker symbols “BKKT” and “BKKT WS” respectively.”Additionally, the business combination resulted in gross proceeds of approximately $448 million to Bakkt, which it plans to reinvest in growing the company’s capabilities and partnerships.Just last week, Bakkt announced a partnership with Google to allow the purchase of goods and services using Bitcoin (BTC) and other cryptocurrencies via the Google Pay platform. According to Bakkt CEO Gavin Michael, the partnership “is a testament to Bakkt’s strong position in the digital asset marketplace, to empower consumers to enjoy their digital assets in a real-time, secure, reliable manner.”Back in March, Bakkt launched a payments app that allows users to make purchases via cryptocurrencies, prior to which the exchange offered BTC futures contracts exclusively to accredited investors. Related: US lawmaker proposes safe harbor for digital tokens in new billMeanwhile, mainstream crypto adoption in the United States continues to see increased support from lawmakers as a new bill demands a safe harbor for certain token projects. A new draft bill proposed by Representative Patrick McHenry, “Clarity for Digital Tokens Act of 2021,” suggests an amendment to the Securities Act of 1933 to allows projects to offer tokens without registering for up to three years. The bill was based on an older initiative from SEC Commissioner Hester Peirce highlighting that “safe harbor could be the most groundbreaking development for the U.S. cryptocurrency market to date.”
  • Jack Dorsey’s Square plans to build an open-source Bitcoin mining system News - 2 days ago
    Jack Dorsey wants to build a single system that can improve accessibility to Bitcoin mining and further decentralize the BTC network. American financial service provider Square will soon begin investigating technical requirements for building an open-source Bitcoin (BTC) mining system, according to CEO Jack Dorsey.Dorsey shared a series of tweets explaining his intent to follow a collaborative approach in further decentralizing Bitcoin mining. He said:“Square is considering building a Bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide. The more decentralized this is, the more resilient the Bitcoin network becomes.”Dorsey believes that further decentralizing the Bitcoin network will be critical for securely settling the transactions “well after the last bitcoin is mined.” Moreover, Square’s system aims to deliver energy-efficient mining solutions by innovation in silicon, software and integration.The initiative will be led by Jesse Dorogusker, Square’s hardware lead, who previously helped launch Square’s hardware wallet and custody service. According to Dorsey, the company will build the mining system following a similar collaborative approach that was used to develop its “assisted custody” BTC hardware wallet.The announcement also called out issues related to silicon shortage and vertical integration that the project will have to overcome in order to become successful. Dorsey further shared the intent to build a single system that can improve accessibility to Bitcoin mining:“Mining isn’t accessible to everyone. Bitcoin mining should be as easy as plugging a rig into a power source. There isn’t enough incentive today for individuals to overcome the complexity of running a miner for themselves.”Related: Twitter launches crypto tipping for all usersDorsey belongs to a group of American billionaires that support the Bitcoin community through various business initiatives, with the latest being the launch of a cryptocurrency-based tipping service on Twitter. The rollout of Twitter’s crypto tipping jar allows users of the social media platform to link third-party apps such as Cash App and Venmo to receive funds from other members of the platform. According to Twitter staff product manager Esther Crawford, the new feature provides access to pathways to get paid:“Digital currencies that encourage more people to participate in the economy and help people send each other money across borders and with as little friction as possible — help us get there.”
  • The responsibility behind a crypto lender’s asset listing News - 2 days ago
    With the lack of regulation and common standards, a lot depends on crypto companies’ social responsibility and blockchain-based CSR. Crypto lenders are the institutions situated between consumers and the untamed, blockchain-based, and often unregulated space of cryptocurrencies. As such, they are in a peculiar position when it comes to responsibility towards their customers and the assets for which they provide services. Consequently, when choosing which currencies to support, lenders lead a delicate dance of responsibility, a balancing act between catering to popular demand and adding cryptocurrencies that are sustainable, worthwhile and safe.Demand vs. approval: The question of endorsementIt’s unsurprising that in a nascent industry full of new investors, a lender’s asset integration is often taken for endorsement. What tends to be overlooked when companies add new assets to their range of services is that crypto lending is, in fact, a business, and any asset integration is ultimately a response to demand — a good market opportunity that generates gains for business and clients, alike. Perhaps this is due to lenders being influential entities in a space that has historically lacked the institutional stamp of approval and looks for it through the pioneering businesses shaping the industry.In June 2021, Coinbase CEO Brian Armstrong issued a series of tweets concerning the exchange’s rapid integration of multiple assets and its intention to keep up this pace. Armstrong wrote that “one should not take being listed on Coinbase as an endorsement of that asset”, denoting the fine discrepancy between working with an asset and endorsing it. Even though their operations are different from that of an exchange, the same principle applies to crypto lenders: It is not an endorsement, it’s just business. And there are many ways to create client-centric and socially responsible businesses.If not an endorsement, then what?Listing an asset on a lending platform may not be an endorsement but it is an indication of a certain degree of its legitimacy, stability and security. A crypto lender’s operations with a given coin mean that owning it, investing with/in it and using financial services for it is regulatorily and technically sound. Lenders have a lot to lose from working with unreliable cryptocurrencies including funds as well as their customers’ trust and the future of their business; hence, they maintain high standards for an asset’s technical robustness, market-wide liquidity, price stability and legality. While the due diligence of these companies cannot serve as the aforementioned stamp of approval for investors, they can be a crypto wind indicator of sorts, providing a general indication of an asset’s stability and safety without endorsing it.Crypto lenders have thus become the bellwether for regulatory action and it is worth noting that this intricate inter-dependence goes both ways — suspending services for cryptocurrencies immediately upon even the potential for new regulatory issues with a coin or token. This exact scenario played out on December 23, 2020, when multiple major exchanges and crypto lenders halted their XRP services in light of the U.S. Securities and Exchange Commission lawsuit of Ripple Labs. The valuable takeaway is that these institutions’ immediate reactions to even the possibility of legal issues with XRP demonstrate a tendency towards full compliance, competent legal counsel, and readiness for immediate action in accordance with given circumstances. Essentially, responsible crypto companies are the industry’s first reactors and can be useful to watch when navigating the space.Related: SEC vs. Ripple: A predictable but undesirable developmentListings and the [Insert company name] effect Although coin integrations on lending platforms do not denote endorsement, companies’ actions still have a strong collateral effect on cryptocurrencies. The biggest crypto exchanges in the world both have their respective so-called “Coinbase-effect” and “Binance-effect” that cause newly-listed coins to appreciate significantly in value. On one hand, this is because they suddenly become available to a wider audience of investors but in addition, their inclusion by these exchange giants gives buyers a sense of credibility.A similar phenomenon was observed in 2020 when PayPal announced its plans to operate with Bitcoin (BTC): News spread quickly and had an overall uplifting effect on the market. This year, the predominant example was the “Tesla-” or “Elon-effect” which began with Tesla accepting Bitcoin as payment for its vehicles in March 2021 and then retracting this opportunity — needless to say, both actions caused a ripple in the crypto industry. A couple of months later, Elon Musk, himself, arguably triggered a market downturn that lasted nearly two months with a single tweet.Related: Experts answer: How does Elon Musk affect crypto space?These examples of non-crypto native companies’ influence on crypto prices are not even close to exhaustive and portray the sway big brands can have on the volatile crypto market. They signal a need for responsibility on part of all companies operating in the blockchain space, especially for crypto lenders who are set to become the banks of the new financial system. It is a volatile market with many smaller retail investors and new players. In the absence of regulation, the industry must self-regulate, recognizing and moderating the gravity of their listings, investments, statements and even tweets.The technical side of listing assetsGenerally speaking, there are two main approaches to adding new assets to crypto lending platforms. The first is a full blockchain integration and the second is a more internal-facing implementation. The former, enables users to deposit and withdraw assets from their wallets, giving them more overall flexibility. The trade-off is that such integrations take slightly longer, require scarce tech talent, and depend on finding appropriate and reliable third-party custodians to ensure the complete security of assets at all times.The alternative to full integration is an approach akin to Revolut’s crypto offering wherein users may purchase cryptocurrencies and digital assets only on the lender’s platform, cannot withdraw them to an external wallet and therefore don’t have access to their private keys. Behind the scenes, the provider deals with the assets in their client’s name, producing user-friendly exposure to crypto investments that can be implemented on the crypto lender’s platform much faster than a standard integration. While…
  • Salvadorans are now selling ‘way more’ US dollars to buy Bitcoin News - 2 days ago
    President Bukele confirmed that Chivo has recorded 24,076 remittance requests, which has added up to $3,069,761.05 in one day. El Salvador’s mainstream Bitcoin (BTC) adoption is gaining momentum during the ongoing bull run as citizens are increasingly exchanging their U.S. dollar savings for BTC. President Nayib Bukele shared this new development on Twitter, based on data acquired from El Salvador’s in-house wallet service, Chivo. Bukele said:“People are inserting way more USD (to buy #BTC) than what they are withdrawing from the Chivo ATMs.”He also urged media outlets to independently confirm the above information by visiting the ATMs. President Bukele further stated that Chivo has reported 24,076 remittance requests, “adding up to $3,069,761.05 in one day.”2 new Chivo Facts:1. People are inserting way more USD (to buy #BTC) than what they are withdrawing from the Chivo ATMs (any media outlet can independently confirm this by visiting the ATMs).2. Today, we received 24,076 remittances, adding up to $3,069,761.05 (in one day).— Nayib Bukele (@nayibbukele) October 16, 2021 The increase in dollar-to-Bitcoin conversions within the jurisdiction reflects a change in investor sentiment, which initially faced resistance during adoption from the general public. Moreover, the Salvadoran government offers various subsidies for using Bitcoin such as fuel subsidies and tax exemptions. Related: El Salvador ranks third in global Bitcoin ATM installations, data findsEl Salvador has installed over 200 ATMs after adopting Bitcoin as a legal tender, making it the third-largest network of crypto ATMs after the United States and Canada. As Cointelegraph reported, El Salvador exceeded United Kingdom’s crypto ATM count after deploying 205 crypto ATMs, mainly to facilitate local Bitcoin transactions and Bitcoin-to-dollar conversions. Recently, the Salvadoran government announced it will build a $4 million veterinary hospital using the profits attained during the Bitcoin bull market. According to President Bukele, the veterinary hospital will host four operating rooms, four emergency clinics, 19 offices and a rehabilitation area. “We decided to invest a part of that money in this: a veterinary hospital for our furry friends.”
    • Rich Dad Poor Dad’s Robert Kiyosaki Sees ‘Very Bright’ Future for Bitcoin, Plans to Buy More BTC After Next Pullback
      Bitcoin News - 11 hours ago
      Robert Kiyosaki, the best-selling author of Rich Dad Poor Dad, now says bitcoin’s future is “very bright,” after predicting a “giant stock market crash” that could also tank the crypto market. He further revealed that he is waiting for the next pullback before investing more in bitcoin. Bitcoin’s Future Is ‘Very Bright,’ Says Kiyosaki Famous […]
    • Coinbase Publishes Proposal for Crypto Regulation Pushing 4 Core Recommendations
      Bitcoin News - 13 hours ago
      Cryptocurrency exchange Coinbase has published its proposal for crypto regulation after “more than 75 meetings with stakeholders in government, industry, and academia,” CEO Brian Armstrong revealed. In its Digital Asset Policy Proposal, the company recommends “four core pillars to inform future U.S. regulation.” Coinbase’s Proposal for Crypto Regulation The Nasdaq-listed cryptocurrency exchange Coinbase published its […]
    • The ‘Holding Billionaires Accountable’ Lie — Media, Big Tech Fact Checkers Mischaracterize Angst Toward Biden’s Tax Proposal
      Bitcoin News - 15 hours ago
      U.S. citizens and financial institutions are concerned about the Biden administration’s goals to get banks to report to the Internal Revenue Service (IRS) aggregate inflows from a customer’s bank account annually that exceed $600. Mainstream media is reporting and Big Tech’s swarm of fact-checkers have said that some lawmakers are mischaracterizing the proposal. Biden Administration’s […]
    • Valve Bans Games Built on Blockchain, NFTs, and Cryptocurrencies From Steam Gaming Platform
      Bitcoin News - 17 hours ago
      This past week, Valve, the parent company of the video game digital distribution service Steam updated its distribution onboarding guidelines. According to the newly updated rules, the company is banning any “applications built on blockchain technology that issue or allow exchange of cryptocurrencies or NFTs.” Newly Updated Onboarding Guidelines for Steam Says ‘You Shouldn’t Publish’ […]
    • Salvadoran President Nayib Bukele Taunts Economist Steve Hanke After Bitcoin’s Price Skyrockets
      Bitcoin News - 19 hours ago
      On October 15, the day bitcoin’s price surpassed the $60K per unit handle, Salvadoran president Nayib Bukele taunted the professor of applied economics at Johns Hopkins University, Steve Hanke, over his recent statements. At the time, the well known economist warned that El Salvador faces “financial ruin” with “Bukele at the helm,” after El Salvador’s […]
    • Bitcoin’s Unknown Creator Satoshi Nakamoto Is Now the 20th Wealthiest Person on Earth
      Bitcoin News - 21 hours ago
      In mid-April the creator of the Bitcoin network, Satoshi Nakamoto entered the world’s top 20 richest billionaire list but after bitcoin’s price dropped, the inventor’s wealth plummeted. This week, Nakamoto has once again joined the top 20 richest people on the face of the earth. The last time, Nakamoto made the 19th position, and this […]
    • Digital Asset Firm Bakkt to Go Public After Completing Merger — BKKT Shares Set to Trade on NYSE Monday
      Bitcoin News - 1 day ago
      The digital asset company Bakkt Holdings has completed a merger with a firm called VPC Impact Acquisition Holdings and the combined business will be listed on the New York Stock Exchange (NYSE) on October 18. Bakkt revealed it was aiming to go public last January, and the Bakkt listing on Monday will leverage the ticker […]
    • President of Mexico Denies Having Interest in Adopting Bitcoin as Legal Tender
      Bitcoin News - 1 day ago
      The President of Mexico, Andres Manuel Lopez Obrador, denied having any interest in adopting cryptocurrencies as legal tender in the country. The statements, offered in a press conference in the National Palace this week, also confirmed that the Mexican government will keep dealing with the financial matters of the country in a traditional and orthodox […]
    • JMP Securities Sees Crypto Entering the Mainstream, Says Adoption Has Hit Escape Velocity
      Bitcoin News - 1 day ago
      Investment banking and asset management firm JMP Securities says that “The crypto economy is entering the mainstream,” emphasizing that crypto “adoption and early use cases have established ‘escape velocity.” However, the firm’s analysts noted that “the industry is still in its formative stage.” ‘The Crypto Economy Is Entering the Mainstream’ JMP Securities recently published […]
    • US Senator Lummis Thanks God for Bitcoin as Congress Discusses Raising Debt Ceiling
      Bitcoin News - 1 day ago
      U.S. Senator Cynthia Lummis said, “Thank God for bitcoin,” during her speech to the Senate about raising the U.S. debt limit. “Bitcoin is not issued by a government, so it is not beholding to the debts that are run up by governments,” she explained. US Senator to Congress: ‘Thank God for Bitcoin’ Senator Cynthia […]
    • Grayscale Investments Set to File for Bitcoin Spot ETF as Competition Heats Up 
      NewsBTC - 14 hours ago
      Grayscale Investments, known for its Grayscale Bitcoin Trust (GBTC), is planning on filing an application to convert its flagship fund into a spot ETF early next week. Grayscale, which has been the dominant player in the digital asset space, is now looking to revamp its fund due to competition.  First Bitcoin Futures ETF Set to Trade Early Next Week, Adding More Competition for Grayscale Last Friday, the Securities and Exchange Commission (SEC) approved the first ever Bitcoin futures ETF, which is set to trade on the New York Stock Exchange early next week. The move has been hailed as a “watershed moment” by many, where Bitcoin is finally solidifying its legitimacy as an asset class to Wall Street and mainstream investors.  Related Reading | Bitcoin ETF Receives Approval from SEC, Marking Historic Day for Crypto  The ETF, managed by investment firm ProShares, will feature a low management fee of 0.95%, compared to Grayscale’s 2%. Another benefit that the new ETF provides is the lack of redemption periods – something that has plagued GBTC’s investors since its very inception.  Why Grayscale’s Potential Spot Bitcoin ETF May Outperform Futures ETFs The Bitcoin-futures ETF is a step in the right direction in making cryptocurrencies more accessible for the everyday investor; however, many crypto investors have argued that the ETF’s utilization of derivative contracts, which are traded on the Chicago Mercantile Exchange (CME), would prove to be far inferior compared to a spot ETF holding actual Bitcoin.  Related Reading | Grayscale Looks to Bolster Investment Offerings with 13 more Cryptos, Including Polygon, Solana, and ICP  Contango, which is a phenomenon that occurs when futures prices are above expected future spot price, means that investors will lose out potential gains due to the Bitcoin futures contracts expiring higher than the cryptocurrency’s spot price. Joe Orsini, director of research at Eagle Brook Advisors, explained the following disadvantages in his Twitter thread:  Futures-based #bitcoin ETFs? Buyer Beware. A thread on contango, using USO ETF (a futures-based ETF on crude oil) to compare performance of Spot WTI Crude, 1st-month Crude Futures, and a futures-based ETF. 1/n — Joe Orsini, CFA (@JoeOrsini_) October 15, 2021 If approved, Grayscale’s spot Bitcoin ETF would be backed by actual Bitcoins, rather than derivatives that track the cryptocurrency’s price. Grayscale already has a significant portion of the world’s circulating Bitcoin supply.  Barry Silberts, the founder of Digital Currency Group and Grayscale Investments, took to Twitter to hint at upcoming changes for GBTC. He joked, “[f]riends don’t let friends buy and hold futures-based ETFs.” Though, there may be some truth behind the statement yet.  Featured image from UnSplash
    • Bank Of England Will Scramble To Buy BTC Before It Hits $1 Million, Says Bitcoin Maximalist
      NewsBTC - 20 hours ago
      Bitcoin expert Max Keiser has said that the Bank of England (BoE) will scramble to buy Bitcoin before the digital asset trades at $1 million. His comments come after Bank of England’s deputy governor for financial stability, Jon Cunliffe, warned that cryptocurrencies could spark a global financial crisis unless tough regulations are introduced. Although regulators in many countries have started putting policies in place to manage the rapid growth of cryptocurrencies, Cunliffe said this must be pursued as a matter of urgency. Bank of England Warns Against Crypto The deputy Bank of England governor has called for strict regulations on Bitcoin and other cryptocurrencies. According to the Guardian, Cunliffe has played a central role in monitoring cryptocurrencies over recent years as an adviser to the G20’s financial stability board and the central banks’ overarching advisory body, the Geneva-based Bank of International Settlements. Related Reading | Bank Of England Seeks To Strengthen Cryptocurrency Regulations In a speech on Wednesday, October 13, Cunliffe compared the growth rate of the crypto market, from $16 billion five years ago to $2.3 trillion today, to the $1.2 trillion subprime mortgage market before the 2008 financial crash. He said there was a probability that financial markets could be rocked in a few years by an event of similar magnitude. “When something in the financial system is growing very fast and growing in largely unregulated space, financial stability authorities have to sit up and take notice,” he said. He also spoke about the majority of crypto-assets having no intrinsic value and could be worthless overnight. He stated emphatically how the crypto world is beginning to connect to the traditional financial system even though the space is still largely unregulated. The banking chief added that there were “Financial stability risks currently are relatively limited, but they could grow very rapidly if, as I expect, this area continues to develop and expand at pace. How large those risks could grow will depend in no small part on the nature and on the speed of the response by regulatory and supervisory authorities.” Related Reading | Bank of England Governor Still Isn’t a Fan of Bitcoin His comments are similar to those of Bank of England Governor Andrew Bailey. In May, Bailey called crypto dangerous and warned that investors should be prepared to lose all their money due to the digital assets’ lack of intrinsic value. Bitcoin Expert’s Response Bitcoin expert Max Keiser responded to the Bank of England’s deputy governor’s recent warning about cryptocurrencies in a statement to He said, “Bitcoin is designed to trigger a meltdown of the current fiat money banking system. This is a mathematically guaranteed outcome.” BTC trading at over $60.8K | Source: BTCUSD on Keiser implies that the BoE is grieving because Bitcoin killed central banks. “Bitcoin killed central banks. The Bank of England is in the second stage of the five stages of grief, the anger phase.” He further pronounces that the Bank of England will eventually consider adopting Bitcoin. “The bargaining phase will be their central bank digital currency stage and when that fails comes depression as the price tops £363,000 ($500,000) and then acceptance with the Bank of England scrambling to buy Bitcoin before it tops £727,000 ($1million) per coin,” Keiser says. Featured image by Proactive investors, Chart from
    • How Intellectual property could be Transferred through the Blockchain Ecosystem
      NewsBTC - 1 day ago
      While the world has evolved from storing and transferring information from paper to cloud storage, data is still not entirely protected. The existing cloud storage system used for sharing information while encrypted is centralized, and centralized systems have the inherent disadvantage of being vulnerable to hacks and attacks. However, decentralized solutions such as blockchain technology have become an excellent alternative because of their immutability. Sharing intellectual property through the blockchain network can create a more secure and reliable system because of its several advantages. The Inefficiencies in Centralized IP Storage Systems The centralized intellectual property storage and management system suffer from outdated technology, improper management and recording of the files. Most of these systems rely on manual input of data which is not only prone to error but also lacks the precise and efficient output. Moreover, most of the centralized IP storage systems utilize cloud storage or offline storage as paperwork, which both limit interconnectivity and are insecure methods. Cloud storage systems are prone to hacking because of a lack of a robust encryption mechanism and are not considered to be legally accepted when proving a chain of custody. On the other hand, the paper trail can easily be manipulated making it less reliable which is a growing concern in the Intellectual Property management industry. The world is quickly moving to a more reliable and secure means of storing, managing and validating intellectual property, which is using blockchain. Blockchain in the Intellectual Property industry Blockchain is a digital ledger used to record information such as cryptocurrency transactions. As the name suggests, Blockchain is a growing list of blocks that stores record linked using cryptography. Every block contains a cryptographic hash linked to the previous block, transaction data, and a timestamp for the data. While created as a peer-to-peer electronic cash system, blockchain has found use cases beyond the original intention. The data recorded on the blockchain has a timestamp and cannot be edited once registered; it creates a perfect solution to record data. Time-consuming and costly disputes about the origin of an invention or copyright of intellectual property can quickly be resolved if recorded on the blockchain as they have a timestamp. Moreover, licensing agreements can be created and recorded using smart contracts to develop immutable proof. Moreover, blockchain offers expert security as it is maintained by validators or nodes based in different parts of the world to keep the network decentralized. It can also be used to identify counterfeit goods by attaching blockchain tags to them. NFTs are a product of blockchain technology widely used to secure the ownership and copyright of an asset or intellectual property. Blockchain is also helpful in speeding up the contract signing process, due diligence and file validation processes, as expertly demonstrated by KwikTrust. KwikTrust is a due diligence software-as-a-service platform that offers self-certified and third-party files verification by storing the results securely on blockchain to provide an irrefutable record. KwikTrust offers several services such as recording, signing and validating contracts, invoices, accounts, references, identities, qualifications, intellectual property, audio and video files in a decentralized and secure environment. The platform also helps in maintaining records by reminding the users of their expiry date. KwikTrust has developed the perfect alternative to the unreliable means of storing and managing intellectual properties with the help of blockchain technology. Not only does the platform create an irrefutable record of the IP, it also helps in smooth and easy management of the data. KwikTrust aims to create a secure and fast method to create, store and validate files leveraging blockchain technology. To learn more about KwikTrust, visit    
    • Virtual Landowners Donate With a Decentralized Charity
      NewsBTC - 1 day ago
      Next Earth, the NFT-based replica of Earth, announced that over $64,000 in proceeds from the sale of its virtual land will be donated to four environmental charities. The Ocean Cleanup, SEE Turtles, Kiss the Ground, and Amazon Watch will each receive funds allocated by a community-based vote. The allocation of funds across these four charities took place in a Decentralized Autonomous Organization (DAO), which enables Next Earth’s community to decide how to allocate funds raised from virtual real estate sales. DAOs are a new form of governance structure where token holders can vote for the allocation of resources via decentralized governance, rather than through traditional boardrooms. The virtual land funds were pre-allocated, with 10% of the total raised being allocated for charitable contributions. The Ocean Cleanup received the largest share of votes, and will get 86 BNB, while SEE Turtles will receive 24.57 BNB, and Kiss the Ground and Amazon Watch will each receive roughly half of the remaining 51 BNB. The four charities Next Earth’s decentralized charity initiative is allocating funds across four important environmental groups. Let’s look at each of these in brief. The Ocean Cleanup is an organization that intends to clean up the world’s oceans using a system that employs floating barriers, which will remove ocean plastic as it is collected, while also collecting plastic from river streams. Ocean plastic is an enormous environmental problem, and The Ocean Cleanup’s system is a promising potential solution to this ongoing crisis. The Ocean Cleanup has prevented over 1 billion bottles from reaching the oceans. Their goal of cleaning up 90% of the world’s floating ocean plastic is ambitious, but not impossible. Amazon Watch works to conserve biodiversity and human rights in some of the most fragile ecosystems on Earth – the Amazon Rainforest. They collaborate with indigenous people to drive change. The rainforest is one of the largest carbon sinks on Earth, but it is also home to many endangered species, as well as massive deforestation projects. SEE Turtles is a non-profit organization that protects endangered sea turtles with conversation tours, supporting nesting beaches, helping to end demand for turtleshells, and cleaning up waste from turtle habitats. These actions are important, complementary efforts to help save turtles. Kiss the Ground empowers regenerative agriculture efforts, which is a conservation and rehabilitation approach that supports food and farming systems. Regenerative agriculture focuses on topsoil regeneration, biodiversity, improving the water cycle, increasing resilience to climate change, and more. Why it matters The most important investment in the world is not buying and selling stocks or bonds. It’s investing in projects that can help us fix our environment. Recently, the IPCC (Intergovernmental Panel on Climate Change) published a new report that underscores how urgent it is for humanity to act. It’s now “code red” for humanity. We are facing a climate crisis. The actions we take today can make or break our future. There is no more important investment than investing in projects that will help us stabilize our climate, adapt to climate change, and get out of the carbon business altogether. The future needs investment now if we want relief from climate change and resource depletion, and it needs it in new ways that will create opportunities for people who haven’t benefited much from capitalism before. DAO-based charitable giving is one of the most promising ways to invest in future environmental projects. DAOs, Decentralized Autonomous Organizations, are organizations that run on smart contracts on blockchains. They are digital entities that can perform many functions normally associated with traditional businesses, including raising money or issuing securities. In the case of a charity, a DAO may allocate funding to various organizations based on community voting. In a DAO, it’s easy for new participants to get involved if they want to help make decisions or invest in projects. It also means that companies can more easily turn their focus from making a profit to making the world a better place. Solving our tremendous global challenges cannot be done solely with traditional means. The billions of people who have been shut out of investing until now may need a better way to support the organizations that are creating change. DAOs can provide a powerful new tool for social engagement and investment, and Next Earth metaverse is using this technology to make a real difference in the long-term health of our planet.   Photo by Drew Graham on Unsplash
    • Over $5 Billion In BTC Paid In Top 10 Ransomware Variants, Says U.S. Treasury
      NewsBTC - 1 day ago
      Ransomware attacks in the U.S. have been on a rise since late 2020, but it is particularly booming in 2021. This year, hackers have hit numerous U.S. companies in large-scale hacks. One such attack on pipeline operator Colonial Pipeline led to temporary fuel supply shortages on the U.S. East Coast. Hackers also targeted an Iowa-based agricultural company, sparking fears of disruptions to grain harvesting in the Midwest. Schools, insurance companies, and police departments have also suffered from these attacks. Related Reading | Questions Linger As FBI Recovers Colonial Pipeline Ransomware Crypto Funds In response to this, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN), charged with safeguarding the financial system from illicit use, released a Financial Trend Analysis. FinCEN published the report on Friday, October 15, 2021. The report analyzed the considerable growth in ransomware payments in the first six months of 2021 and the relative difference from last year. Ransomware Attacks In The U.S. U.S. Treasury Secretary Janet L. Yellen recently noted, “Ransomware and cyber-attacks are victimizing businesses large and small across America and are a direct threat to our economy.” According to the report, FinCEN analysis of Suspicious Activity Reports (SARs) filed during the first half of 2021 indicates that it is an increasing threat to the U.S. Between January 1 and June 30, 2021, 635 SARs were filed, and 458 transactions were reported. This was 30% more than the total of 487 SARs filed for the entire 2020. The total value of suspected ransomware payments during the first half of 2021 was $590 million, more than the $416 million reported for the whole of 2020. Source: FinCEN Financial Trend Analysis The U.S. Treasury Department said the average amount of reported ransomware transactions per month in 2021 was $102.3 million. FinCEN identified bitcoin (BTC) as the most common payment method in reported transactions. Approximately $5.2 billion in outgoing BTC payments tied to the top 10 variants over the past three years. It noted that USD figures cited in this analysis are based on the value of BTC when the transactions occurred. BTC trading at over $60.7K | Source: BTCUSD on If the trends keep up, hackers could make more from ransomware this year than they did in the previous ten years combined. The U.S. Government’s Response The U.S. government has been working to clamp down on attacks from hackers. The Biden administration has made the government’s cybersecurity response a top priority following a series of attacks this year that threatened the U.S. energy and food supplies. Earlier this month, the Justice Department announced the launch of a National Cryptocurrency Enforcement Team to go after the exchanges that expedite crime-related transactions, like ransomware demands. Related Reading | U.S. Recovers Millions Paid In Bitcoin For Pipeline Ransomware In September, Wall Street Journal reported that the Biden administration was “preparing an array of actions, including sanctions, to make it harder for hackers to use digital currency.” Also last month, the Department of the Treasury’s Office of Foreign Assets Control sanctioned crypto exchange SUEX OTC, S.R.O. (SUEX) for facilitating financial transactions for ransomware actors. This action was the department’s first such move against a virtual currency exchange over ransomware activity. Coinciding with the release of the report, the Treasury Department released virtual currency guidance. The guidance said, “the virtual currency industry, including technology companies, exchangers, administrators, miners, wallet providers, and users, plays an increasingly critical role in preventing sanctioned persons from exploiting virtual currencies to evade sanctions and undermine U.S. foreign policy and national security interests.” Featured image by Bitcoin News, Chart from
    • Bitcoin ETF Check, What’s Next For BTC
      NewsBTC - 1 day ago
      The approval of a Bitcoin Exchange Traded Fund (ETF) in the U.S. has come true. Different actors in the crypto space have tried to receive the greenlight from that country’s regulator (SEC) for little less than a decade. Related Reading | Bitcoin ETF Receives Approval from SEC, Marking Historic Day for Crypto Major achievement for the crypto industry, there is a sensation of euphoria in the market with Bitcoin reaching a 24-hour high of around $63,000. There has been some retracement since that peak, but BTC’s price continues to trade north of $61,000, at the time of writing. Investment firm QCP Capital commented on the BTC ETF approval. As reported by NewsBTC, the investment products will track the Chicago Mercantile Exchange (CME) Bitcoin futures. Thus, some have argued that it’ll be a poorly execute product to benefit Wall Street and institutions. QCP Capital said: The approval of a Bitcoin ETF is a positive development. Whatever the case may be, a progressive step from the regulator is good for Bitcoin and the cryptocurrency market at large. Opposite to the opinion of those against the Bitcoin ETF approval, QCP Capital believes this product will “sideline institutional” investors due to its characteristics. Thus, the U.S. retail sector could become the predominant player. Related Reading | Bitcoin “Supertrend” Begins As Buy Signals Stack On All Major Timeframes A BTC ETF based on CME futures will most likely trade at a premium related to Bitcoin’s spot price. Therefore, institutional investors could have little incentive to trade this investment product in step of simply buying CME contracts.  QCP Capital said: We are not sure if these futures-based ETFs will be able to draw enough new money to trigger an exponential move higher like the one we saw in Q4 2020. The market could experience a new inflow of capital, as expected from traders and operators, as investors move “out of Gold ETFs into Bitcoin”. It remains to be seen if this move will be able to sustain a rally. After The Bitcoin ETF, Is Ethereum Next In Line? In addition to the potential lack of sufficient flows to hold BTC’s current levels, operators seem to have price in the Bitcoin ETF approval, QCP Capital added. There have been rumors going around for the past two weeks with the SEC Chair himself Gary Gensler hinting at this positive possibility. This could contribute with a potential retracement and trigger a “buy the rumor, sell the news event”. In the future, QCP Capital expects an Ethereum ETF with similar characteristics to be approved as the CME offers ETH based products. The firm said: (…) this also means that until other coins have a futures contract, the US will only be limited to Bitcoin and Ethereum ETFs for the time being. Other variables might come in to play to change market dynamics: a growth in CME BTC futures trading volume, a focus on other crypto related issues, the firm said, the increase in Bitcoin based instruments to generate yield. However, one of the most important variables might be the potential decline in the Grayscale Bitcoin Trust (GBTC). A favorite tool amongst institutions to gain BTC exposure, an ETF could render it obsolete. Thus, the crypto market could face some uncertainty. Related Reading | Bitcoin Returns To $60K, What’s Holding Off From New ATHs? As seen below, the GBTC has been trading at an important discount since March 2021. QCP Capital added the following: What could happen for GBTC in the future is a possible takeover and delisting. We are not sure what market impact this might have but it would be worth keeping an eye on what happens with the largest private Bitcoins treasury with 680,000 BTC.
    • CryptoPunks Owner Declines Record-setting $9.5 Million Offer, Explains Why 
      NewsBTC - 2 days ago
      Earlier today, the owner of the non-fungible token CryptoPunks #6046 declined a bid of $9.5 million dollars in Ethereum (ETH), which would have been the highest on-chain NFT transaction to date. The bidder, who goes by an ENS of poap.eth, placed the record-setting bid after the CryptoPunks owner tweeted: “My punk is not for sale. Don’t care what anyone offers me.”  CryptoPunks is an NFT collection of 10,000 randomly generated images created by Larva Labs, and is widely touted and recognized as the #1 collection across the entire NFT space.  Related Reading | Cryptopunks are Headed to Hollywood The project is an all-time leader in total transaction volume at 552,073 ETH, or approximately $2.1 billion. Bored Ape Yacht Club (BAYC), which is the next largest collection on OpenSea, has recorded 1/5th of CryptoPunk’s all-time sales volume. According to data from Larva Labs, the most expensive transaction to date was $7.57M for Punk #7804 back on March 11, 2021.  Come on Richerd. Don't you want to go down in history as the top cryptopunk sale to date? — POAP – The bookmarks of your life (@poapxyz) October 15, 2021 If the bid made by poap.eth were to have been accepted, CryptoPunk #6046 would have become arguably the most valuable CryptoPunk by more than 500 ETH. Interestingly enough however, the owner himself admitted that the “value” of his NFT was nowhere near the ballpark of $9.5M: [#]6046 is probably not worth 2500 ETH, it’s a mid tier punk due to its defining 3D glasses traits. So why would someone offer 2500 ETH on it?”  How Exactly are CryptoPunks Valued? Within NFT collections, the value of an individual piece is often determined by the rarity of its traits and characteristics. This is the case for CryptoPunks, with extremely rare traits like Aliens (0.09%) fetching a far greater price than ones with more common traits. In the case of Punk #6046, its trait of 3D glasses (3%) would be worth considerably less than extremely rare traits.  The average price of a CryptoPunk has skyrocketed over the past year, with data from DuneAnalytics showing a 1300% increase in average sales price since the beginning of the year. Despite these meteoric increases in price, the NFT space is still in relative infancy. Related Reading | Forget NFT Avatars: Owning and Trading NFT Colors Could be the Next NFT Trend on OpenSea  Coinbase, which recently announced its plans to release an NFT marketplace, saw over 1.5 million sign ups – a number trumping OpenSea’s user base by several fold. According to dappRadar, OpenSea has a total user base count of 263 thousand. With Coinbase entering the NFT space, there’s little to no doubt that the industry will continue to grow exponentially.  Interestingly enough, @richerd explained the reasoning behind rejecting the offer. He implied that his brand and online persona was largely connected to his CryptoPunk, and selling it would effectively sever this bond. “My identity, along with [the] identity of other iconic Punks, have value beyond the NFT itself. We have our own brands similar to any other brand and that has value. Because I value my personal brand and identity, this was an easy rejection for me.”  Featured image from Larva Labs  
    • MobiePay Rebrands into Mobie Network to Broaden the Scope of Technologies and Products
      NewsBTC - 2 days ago
      MobiePay, a popular service that aims to bridge the gap between blockchain and the mainstream, has recently announced a major change of its brand. The project has now changed its name to Mobie Network. Initially, the project started off as MobiePay, in order for people to know what type of project the team is developing and what kind of service they plan to offer. However, as the development continued, the project decided to broaden the scope of different technologies and products that it aims to build and offer. But, with all the new products in the pipeline, the name MobiePay no longer does it justice, indicating that the project offers less than what it actually has. As a result, its team decided to rebrand into Mobie Network, which is expected to help with more utility within their platform. The change will also help build the Mobie ecosystem into a proper network, instead of being simply a payment/banking functionality. On top of that, the project will also enhance its products with other on-chain and off-chain products. The project’s ultimate goal is to turn its Mobie Network into a hub for all of the crypto-specific innovation that is encompassed under the Mobie umbrella. This is meant to include everything, from MobieSwap, Mobie Bridge, the token side of the app, staking and rewards functionalities, the tokenized community, and more. What Innovations are Coming with Mobie Network? Mobie Network will also build mainstream products with blockchain by bridging the gap between user experience and this emerging technology. One way to do it is to provide a more personalized payment experience. Specifically, the project will offer a personal and business finance app that will be available on the web and mobile alike. Next, they aim to offer an efficient and dependable gateway for crypto and fiat currencies alike. This will allow them to handle anything, from checkouts to transfers. Mobie Network also plans to get involved in gaming payments. Crypto and gaming have been a great match for years now, and Mobie Network can contribute to that relationship further by bringing innovative payments, data, and sophisticated analytics. Speaking of analytics, the firm is bringing consumer and market insights to those who need it, and in doing so, it can help drive loyalty and conversions for retailers in any industry. Finally, with the NFT sector exploding in 2021, it is not surprising that Mobie Network is eyeing that space as well.  In terms of NFTs, it will support users with creation, purchasing, storing, or swapping them, with all of the transactions being effortless, efficient, and with a seamless interface. Of course, the network will continue to allow users to spend, send, earn, or give cash or cryptocurrencies instantly. There is a clear advantage to being able to do all of this from one spot. However, Mobie Network is going even further than that now, offering users to use crypto for everyday purchases, it offers incentives for adoption and growth through cashback and affiliate revenue, and it simplifies payments for the merchants, making it easier for them to start accepting cryptocurrencies. In doing so, merchants stand to become a part of an extremely popular emerging crypto industry and increase the number of customers through inclusiveness. Conclusion All in all, MobiePay was an important chapter in the project’s history, but now it is time to take the next step, and Mobie Network is the working name for this new segment of the company’s history.
    • Strike Launches New Feature To Allow Users Convert Salaries To Bitcoin
      NewsBTC - 2 days ago
      Payments processor Strike has announced the launch of a new feature that will allow users to convert their paychecks to bitcoin. This feature brings workers one step closer to collecting their paychecks in bitcoin. Instead of the employer paying out wages and salaries in BTC, employees can take the paychecks they receive and convert them to cryptocurrency in one easy step. Receiving Paychecks In Bitcoin Strike is enabling users to convert all or some of their paychecks into BTC. Instead of cashing into fiat and then having to change back to BTC, users can directly convert to BTC using the paycheck that they receive. The feature is known as “Pay Me in Bitcoin” was announced on Thursday and is one of Strike’s efforts to make BTC readily available to its users. Related Reading | Why We Could See The First Approved U.S. Bitcoin ETF In October Strike is best known for helping El Salvador in their journey to bitcoin adoption, but they are also a bitcoin-focused payments processor that allows users to receive and pay in BTC. And with the new feature, get paid in BTC with no hassles. Strike completely bypasses the need for employers to adopt and start paying their employees in cryptocurrencies. Instead giving employees the power to decide if they would rather convert their paychecks to fiat currency or cryptocurrencies. This also means that employees are not limited by the payments options their employers use. It doesn’t matter the company individuals work for, they can choose to have their paychecks deposited in bitcoin. BTC price trading above $61,300 | Source: BTCUSD on Following The Lead Of Coinbase Strike’s announcement of the “Pay Me in Bitcoin” feature comes only a few weeks after Coinbase launched a similar feature. In the announcement post, Coinbase shared that customers were now able to deposit their paychecks directly to cryptocurrencies to ease their trading activities and just like Strike, streamline the process of users converting their money to cryptocurrencies. The feature has been welcome in the crypto space as investors can now decide to deposit their full paycheck or a portion of it into their cryptocurrency tradings accounts. Customers could also choose to deposit their paychecks directly to U.S. dollars on Coinbase, which they can then use to carry out their trading activities on the platform. Related Reading | Bitcoin Breaks $60,000 Ahead Of SEC ETF Approvals Similar to Coinbase, Strike announced that the feature will initially be available to users in the United States. Roll-outs for other countries may be in the works but there has been no confirmation of these. Although users can only convert their paycheck to bitcoin on Strike, Coinbase offers users a wider variety as they can convert their paychecks to the over 100 cryptocurrencies currently listed on the exchange. Featured image from Inc. Magazine, chart from
    • Bitcoin ETF Receives Approval from SEC, Marking Historic Day for Crypto
      NewsBTC - 2 days ago
      Since the first meteoric rise of Bitcoin in 2017, asset managers and investment firms have looked to seize the opportunity in the growing space, attempting to bring the cryptocurrency to Wall Street. Of course, the majority of these efforts (if not all) were futile – caused by waning demand during downturns, opposition from government entities, or the general uncertainty surrounding crypto’s future as an asset class. But now, with Bitcoin gaining approval from the public, institutions, and even nations like El Salvador, it only seems right for crypto to finally cement its legitimacy.  ProShares’ Bitcoin ETF Gains Approval from the SEC Earlier today, the Securities and Exchange Commission (SEC) finally announced that it had approved the first ever Bitcoin Futures ETF in the United States. This is following months of deliberation and delays, with the commission delaying its verdict on at least a dozen or more additional Bitcoin ETF applications. Proshares, the asset management firm that filed its ETF earlier this summer, is set to launch as early as next week. In its amended prospectus updated on Oct. 15, Proshares stated that its ETF is expected to launch on Monday, Oct. 18.  BREAKING: U.S. Securities and Exchange Commission (SEC) officially approves #Bitcoin ProShares Futures ETF, which is expected to begin trading next week. — Mr. Whale (@CryptoWhale) October 15, 2021 Without a doubt, this is a historic moment for the cryptocurrency space. Serving as a regulated alternative to directly holding the underlying digital asset, an accessible exchange-traded fund will mean an influx of funds from retail and institutional investors alike. ProShares’ Bitcoin ETF will function similarly to that of Grayscale’s GBTC, where the ETF will track Bitcoin futures, rather than the price of the digital asset directly. SEC Chair Gary Gensler stated that future-based products will likely provide stronger investor protections due to the stringent securities laws they must operate under.  As a futures-based product, there may be potential premiums or discounts relative to the net asset value (NAV). However, the Proshares’ ETF has a management fee of 0.95%, which is considerably lower than GBTC’s 2%. This, coupled with GBTC’s stringent redemption periods and deviation from the NAV, will likely lead to a mass rotation of funds from the GBTC to ProShares’ ETF.  Breaking Down Bitcoin’s Price Action The aforementioned news sent the crypto markets higher, with BTC nearing its all-time high price of $63,000. Earlier today, the price of BTC peaked at $62,600. At press time, BTC is priced at $61,300 – up 6.36% in the past 24 hours alone. According to CoinMarketCap, the major cryptocurrency has reclaimed its $1 trillion market capitalization, comfortably sitting at $1.15T. Ethereum and other major altcoins reacted positively to the news, closing in on their respective all-time high prices. Featured image from UnSplash
    • Coinbase Adds Support for Two Ethereum-Based Altcoins Across All of Its Platforms
      The Daily Hodl - 14 hours ago
      Top US crypto giant Coinbase is adding two Ethereum (ETH) powered altcoins to its arsenal of tokens. After their initial launch on Coinbase Pro, BadgerDAO (BADGER) and Rarible (RARI) are now available to buy, sell, convert, store, send and receive on the company’s retail trading platform and its iOS and Android applications. BADGER is […] The post Coinbase Adds Support for Two Ethereum-Based Altcoins Across All of Its Platforms appeared first on The Daily Hodl.
    • These Bitcoin, Ethereum and Solana Price Prediction Charts Are Pure Magic, According to Macro Guru Raoul Pal
      The Daily Hodl - 16 hours ago
      Macro guru Raoul Pal says three price prediction charts for Bitcoin, Ethereum and Solana are working like “pure magic.” In a new Crypto Banter podcast, the co-founder and chief executive officer of Real Vision compares Bitcoin’s current market cycle to that of 2012-13, suggesting a price target of over $250,000 for the end of this […] The post These Bitcoin, Ethereum and Solana Price Prediction Charts Are Pure Magic, According to Macro Guru Raoul Pal appeared first on The Daily Hodl.
    • Here’s Why Billionaire Real Estate Mogul Barry Sternlicht Owns Two Different Crypto Assets
      The Daily Hodl - 18 hours ago
      Billionaire and real estate magnate Barry Sternlicht says that he owns Bitcoin (BTC) and Ethereum (ETH) for a number of reasons. In a new interview with CNBC’s Squawk Box, the chief executive of Starwood Capital says that he’s invested in crypto due to his concerns regarding endless money printing and what he sees as questionable […] The post Here’s Why Billionaire Real Estate Mogul Barry Sternlicht Owns Two Different Crypto Assets appeared first on The Daily Hodl.
    • $69,000,000,000 Pension Fund Considering Allocating Capital to Crypto Space
      The Daily Hodl - 19 hours ago
      Australia’s fifth-largest pension fund is reportedly considering allocating capital to the crypto markets. The Financial Times reports that Queensland Investment Corporation (QIC), which manages $69 billion worth of assets, is open to making cryptocurrency investments in the future even as it remains cautious of the nascent digital asset space. QIC’s head of currencies Stuart Simmons […] The post $69,000,000,000 Pension Fund Considering Allocating Capital to Crypto Space appeared first on The Daily Hodl.
    • Is Solana the Fastest Horse? Veteran Crypto Trader Shows Why SOL May Be Set to Outperform Everything
      The Daily Hodl - 22 hours ago
      A closely followed trader suggests that smart contract platform Solana (SOL) might be the fastest horse in the crypto bull market. The trader known as Cantering Clark shares with his 76,000 followers a snapshot of a collection of different cryptos throughout the day. He notes that even while Bitcoin was receiving all of the attention […] The post Is Solana the Fastest Horse? Veteran Crypto Trader Shows Why SOL May Be Set to Outperform Everything appeared first on The Daily Hodl.
    • Bitcoin Bull Tone Vays Says Pullback Coming – Here’s His New Crypto Outlook
      The Daily Hodl - 1 day ago
      Veteran crypto trader Tone Vays says despite Bitcoin rising very quickly with its daily and weekly charts, a pullback is imminent. In a recent live stream during the rumored approval announcement of a Bitcoin (BTC) exchange-traded fund (ETF), Vays expects BTC to reach a high of around $62,000 by the 19th of October. “We are […] The post Bitcoin Bull Tone Vays Says Pullback Coming – Here’s His New Crypto Outlook appeared first on The Daily Hodl.
    • Ethereum Towers Above Axie Infinity and Altcoin Projects, Earning $777,000,000 in Revenue in Just One Month
      The Daily Hodl - 1 day ago
      Ethereum’s (ETH) protocol revenue is towering over play-to-earn game Axie Infinity and other altcoin projects. Data from Token Terminal shows that the smart contract platform’s protocol revenue in the past 30 days reached $777 million, far surpassing those of Axie Infinity ($183.6 million), non-fungible token (NFT) marketplace OpenSea ($70.1 million), decentralized margin trading platform dYdX […] The post Ethereum Towers Above Axie Infinity and Altcoin Projects, Earning $777,000,000 in Revenue in Just One Month appeared first on The Daily Hodl.
    • Bitcoin Bears Getting Skittish As BTC Threatens All-Time Highs, Says Crypto Analyst Benjamin Cowen – Here’s Why
      The Daily Hodl - 1 day ago
      Crypto analyst Benjamin Cowen says Bitcoin bears are worried as BTC’s technicals continue to look more and more convincingly bullish. In a new strategy session, Cowen says traders that have been anticipating a bear market ever since Bitcoin corrected in May are running out of ways to justify it on the chart. He says that […] The post Bitcoin Bears Getting Skittish As BTC Threatens All-Time Highs, Says Crypto Analyst Benjamin Cowen – Here’s Why appeared first on The Daily Hodl.
    • Bitcoin Will Significantly Underperform Altcoin Market As New Crypto Price Era Unfolds: Pantera Capital’s Dan Morehead
      The Daily Hodl - 1 day ago
      The founder and chief executive officer of Pantera Capital says that investors can expect altcoins to outperform Bitcoin (BTC) in the long term. In a recent edition of Pantera’s Blockchain Letter, the head of the digital asset management firm outlines Dan Morehead’s key quotes from the SALT 2021 conference in New York. During the conference, […] The post Bitcoin Will Significantly Underperform Altcoin Market As New Crypto Price Era Unfolds: Pantera Capital’s Dan Morehead appeared first on The Daily Hodl.
    • Solana Set for New All-Time High While Ethereum Still Has Juice in the Tank – Crypto Analyst
      The Daily Hodl - 1 day ago
      A popular cryptocurrency analyst and trader is outlining the path forward for smart contract platforms Solana (SOL) and Ethereum (ETH). The cryptocurrency analyst pseudonymously known as Smart Contracter tells his 173,800 Twitter followers that SOL is set to surge to a new record high after a period of accumulation. “Sol ATH [all-time high] soon anonymous. […] The post Solana Set for New All-Time High While Ethereum Still Has Juice in the Tank – Crypto Analyst appeared first on The Daily Hodl.
    • XRP Price to Test $1.2 Level !! Will the Altcoin Rise or Crash Below $1 ?
      Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 1 day ago
      The post XRP Price to Test $1.2 Level !! Will the Altcoin Rise or Crash Below $1 ? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide XRP Price Action XRP Price approaches crucial levels as it reaches a higher low of $1.10 was promptly tested, driving XRP higher. As a result, XRP/USD is predicted to continue upward during the next 24 hours, with a target of $1.20. Positive momentum is resuming, which will most likely lead to the $1.20 resistance later …
    • Ethereum Price (ETH) Inches Closer to the $4k Mark! Institutional Investors seem Bullish
      Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 1 day ago
      The post Ethereum Price (ETH) Inches Closer to the $4k Mark! Institutional Investors seem Bullish appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide Over the last 24 hours, the market has been in the green. Ethereum is up 4.04 percent, while Bitcoin is up 3.74 percent. Early on, the Ethereum cryptocurrency entered a little bullish phase, and the price of Ether appears to have breached the level of $3,800. In the previous few days, ETH has made a …
    • Cardano Price Predicted to Hit $15, While ADA Price Is Still Under Bearish Pressure
      Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 1 day ago
      The post Cardano Price Predicted to Hit $15, While ADA Price Is Still Under Bearish Pressure appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide The overall cryptocurrency market traded with mixed results over the last 24 hours. The Flagship currency, Bitcoin breached its 60K mark. On the other hand, Ethereum managed to also regain its uptrend and show another bullrun. However, cardano Price Seems to be still dead !  ADA Price Action The ADA/USD currency pair is presently trading …
    • Is Polygon MATIC back in the race? Is $2 incoming?
      Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 1 day ago
      The post Is Polygon MATIC back in the race? Is $2 incoming? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide Polygon announced an increase in gas fees this week, following which the price plummeted dramatically. Nonetheless, the cryptocurrency has recovered by 28 percent in the last 24 hours, rising from $1.25 to $1.60. The increase happened after the Korean cryptocurrency market Upbit announced that MATIC coin was now available for purchase and trade. The price …
    • The Next 10 Days to Be Massive for Cryptos! Everything You Need to Know!
      Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 1 day ago
      The post The Next 10 Days to Be Massive for Cryptos! Everything You Need to Know! appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide Highlights Approval of futures ETFs is expected to be a game-changer for the space.ALT coins to see growing acceptance and adoption in the industry.   The month has been exciting for the crypto space and possibly holds bundles of joy for traders in the space. The approval of Proshare’s Bitcoin Futures ETF by the U.S SEC. …
    • DOGE Price To Explode 1000x!! This Is When Dogecoin Price Will Hit $1!
      Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 1 day ago
      The post DOGE Price To Explode 1000x!! This Is When Dogecoin Price Will Hit $1! appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide Highlights: The total market cap of the crypto space is anticipating a $3 trillion milestone.Dogecoin price manifests to break a crucial resistance to reach a new milestone. The global crypto space is currently experiencing a decent uptrend momentum which can soon rekindle an altseason. On 16th October 2021, the total market cap of the space …
    • Ravendex, A Cardano-Based Project, Releases its DEX Demo, to start with Tokens Sales soon
      Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 2 days ago
      The post Ravendex, A Cardano-Based Project, Releases its DEX Demo, to start with Tokens Sales soon appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide Ravendex, a new Cardano project has made a demo version of its first decentralized exchange, having features like Swap Pools, Light & Dark Mode. While the company continues to make rapid progress after the private token sale started, which has 100 million $RAVE tokens available for the investors, while 82 million $RAVE tokens are already …
    • Bitcoin’s New ATH Is Imminent This Weekend! But Traders Remain Cautious!
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