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Showing posts from January 14, 2021

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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Anchorage Obtains Federal License to Operate as Crypto Bank From the OCC

The U.S. Office of the Comptroller of the Currency (OCC) has granted conditional approval to crypto custodian Anchorage to launch the first federally chartered digital asset bank in the country. In a statement on Jan. 13, 2021, the OCC said the company received the national trust banking charter, which allows it to create Anchorage Digital Bank, following a thorough review of its operations. With the approval, Anchorage will now be expected to comply with the capital and liquidity requirements of the OCC and certain risk management procedures. The firm signed an agreement with the banking regulator to this effect. “By bringing this applicant into the federal banking system, the bank and industry will benefit from the OCC’s extensive supervisory experience and expertise,” said the regulator, a unit of the U.S. Treasury Department. “At the same time, the Anchorage approval demonstrates that the national bank charters were provided under the National Bank Act are broad and flexible ...
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EDM star Deadmau5 teams up with Mad Dog Jones on NFT art collection

EDM artist Deadmau5’s NFT collections highlight the potential of digital artworks to his millions of followers. EDM star Deadmau5 has partnered with digital artist Michah Dowbak — aka Mad Dog Jones — to release two NFT art collections on the Winklevoss-owned Nifty Gateway today.  pic.twitter.com/H2cGuoB1M0 — Goat lord (@deadmau5) January 12, 2021 The artworks have already raised $338,000 with the final auction yet to finish. Block Heater, a single edition NFT, currently has a bid of $20,000 on it with approximately 19 hours remaining. The NFTs are a combination of music from renowned multi-Grammy nominated Deadmau5 and artwork from Dowbak, whose previous NFT collection in collaboration with DJ 3Lau sold out within seconds. Dowbak is a frequent collaborator with high-profile clients, creating artwork for Run The Jewels, Jabbawockeez, Conor McGregor, Maroon 5, and Chromeo. This isn’t Deadmau5’s first NFT rodeo either. In December 2020, he released a 30-second audio-reactiv...
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Respect the Pomp: RSK’s token spikes 30% after founder appears on podcast

RIF got a nice price boost hours after its founder appeared on Pomp’s podcast. RIF, the utility token for smart contract network RSK, shot up over 30% in price after an appearance by its founder on the Jan. 13 edition of The Pomp Podcast . The gain equates to a $36 million increase in market cap for RIF, most of which has occurred in the last 12 hours. $RIF up 20% now and it's just the beginning. Building infrastructure on top of #bitcoin The most secure network in the world. — TradingToolCrypto (@RealTradingTool) January 14, 2021 RIF, short for “RSK Infrastructure Framework,” is the token used as payment for decentralized infrastructure services which operate under the RSK protocol, such as e-commerce solutions and network bridges . Services are purchased at a marketplace hosted by the network and are constructed using RSK’s protocol. This renders them interoperable among a number of smart contract-enabled platforms like Ethereum and EOS. During the hour-long intervi...
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Block.one’s Bitcoin reserves are now worth double the entire EOS market cap

Block.one holds a reported 140,000 BTC which is worth around double the EOS market cap. Does that make EOS a buy? EOS has largely under performed during this crypto rally and has dropped out of the top ten by market cap, but one industry executive believes it could be one of the best risk/reward digital assets right now. Chartered Financial Analyst and Arca CIO Jeff Dorman made the assertion based upon Block.one’s extensive Bitcoin holdings. Before delving into that, Dorman observed that EOS is the only major crypto asset apart from XRP that has not made significant gains during this rally. Over the past twelve months, EOS prices have declined by 26%, with losses recently accelerating due to the resignation of CTO Dan Larimer . But with plenty of “zombie projects” up 300% to 1,000%, he believes EOS provides a good risk/reward opportunity. Block.one owns 140,000 BTC worthh an estimated $5.5 billion at current prices according to data compiled by a financial comparison platform Ban...
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Nigerian Youth Propels the Country to the Top of Google Bitcoin Search Rankings

Nigeria, one of the biggest cryptocurrency markets in the world, recently emerged as the country with the highest number of bitcoin searches globally, according to Google Trends data. The data shows that the West African country has a search score of 100, which is more than double that of its nearest rival. Youth-Driven Interest According to one local report , Nigeria’s rise to the top of bitcoin search rankings signals the growing utility of the crypto in that country. The report also explains that country’s youth have been the decisive force behind this surge in bitcoin searches. This assertion is supported by Senator Ihenyen, the new president of the Stakeholders in the Blockchain Technology Association of Nigeria (SIBAN). In his reaction to Nigeria’s new status, Ihenyen insists this is hardly surprising for a country with a “median age of 18.4.” He contends that in such a scenario, “interest in bitcoin and its adoption should be expected.” As the Google Trends data confirms, ...
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DOT flip: Polkadot overtakes XRP to become the fourth largest cryptocurrency

DOT is on fire today as it surges up the market cap charts to fourth spot. There have been some big movers as the crypto market rally resumes and Polkadot’s DOT token is among them. According to figures from leading analytics portal Coingecko, DOT has flipped Ripple’s XRP in terms of market capitalization following a massive gain of 26% over the past 24 hours. This makes it the new fourth largest cryptocurrency by market cap. The Polkadot token has surged from an intraday low of just below $11 to top out at an all-time high of $14.80 before retreating slightly to $14.45 at the time of writing. The big price move has pushed its market cap to $13.7 billion as reported by Coingecko . XRP, conversely, has only managed a gain of 3.7% over the past 24 hours which has not been enough to take the cross-border transfer token above $0.30. Its market cap is currently just below DOT’s at $13.5 billion. Stats from Polkadot’s own platform estimate it has an even higher market cap of $14.8 bi...
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Did Grayscale push Bitcoin back up to the $40K mark?

Some stats indicate Bitcoin’s current rally could be more reliant on institutional investors than ever before. Within 48 hours of Grayscale reopening its services to new investors on January 13, Bitcoin’s price shot up by almostd 20%, to once again hover just under the $40,000 mark.  During the same period, the institutional investment firm added 4,618 BTC to its portfolio at a current value of $182 million. Including last quarter’s intake of $3.3 billion , which is mostly BTC, Grayscale’s crypto portfolio sits at $27.6 billion. Bitcoin isn’t the only coin to see strong support since January 13 with the entire crypto market adding $137 billion to surge once again past a $1 trillion market cap. Grayscale is back！Grayscale gains another 2172 #BTC in 24 hours. Their total AUM now $26.39 billion. https://t.co/r1tmKT6a3r pic.twitter.com/lZlcJdNvTk — Bybt (@bybt_com) January 14, 2021 With the increasing demand from institutional investors, Bitcoin’s available supply is bec...
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Etoro Warns Customers to Brace for Suspension of Crypto Buy Orders due to an ‘Unprecedented Demand’

Etoro, a trading and investing platform, has warned its customers to brace for possible limitations on their buy orders this coming weekend. The company says it might be forced to take this and other steps if the anticipated and unprecedented surge in demand for cryptos occurs. Unprecedented Demand and Limited Liquidity The Israeli company’s warning follows its curb of European investors’ “ability to trade cryptocurrencies on margin” in the past week. The company had reportedly made this decision in “response to soaring risks in the market.” Etoro’s notice, which implies that customer demand for cryptos remains high, comes less than a week after the BTC price plunged by more than 20% in less than 48 hours. This plunge caused the value of the entire cryptocurrency market to drop from over $1.1 trillion to $854 billion. Meanwhile, this recent BTC plunge occurred shortly after the crypto set a new all-time high (ATH) of over $41,900. Still, in its notice, Etoro suggests that deman...
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Exchanges running out of ETH with reserves plunging 27% in 48 hours

Analysts predict Ether may soon hit a new all-time high after ETH reserves on centralized exchanges fell by 27% in two days. The amount of Ether held on exchanges has plunged over the past two days, with CryptoQuant data indicating that just 8.1 million ETH is currently sitting in the reserves of centralized exchanges. The acceleration of ETH being taken off exchanges was highlighted by Nuggets News’ Alex Saunders, who noted a 10% drop in Ether reserves on centralized platforms on Jan.14 — from 11 million to 10 million over 24 hours. “Exchanges will run out of ETH in 10 days at current rate,” he predicted. Earlier today, Saunders noted the decline in Ether reserves had escalated by a further 20% leading him to suggest that centralized platforms may run out of ETH in the next 48 hours. Exchanges could be out of $ETH within 48 hours. Demand has sky rocketed. Exchange reserves fell 20% from 10M to 8M in the last few hours. With targets of $5k, $10k & $20k long term, I doubt ma...
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Bitcoin chases new high as analyst says ‘smart money never stopped’ buying

Increasing trading volume and demand from institutional investors have analysts expecting a new all-time high from Bitcoin price. The total cryptocurrency market capitalization is back above the $1 trillion level as Bitcoin ( BTC ) bulls pushed the price back to $40,000 on Jan. 14. Daily cryptocurrency market performance. Source: Coin360 Bitcoin price rallied to $40,099 in the early trading hours on Jan. 14 according to data from Cointelegraph Markets and TradingView before pulling back to $39,500. This marks a rapid turnaround from the recent drop below $31,000 and shows that professional and retail traders are keen to see BTC price rise higher despite this week’s massive $1.5 billion liquidation . Establishing $40,000 as support is an important psychological level and a key support that traders are watching. If traders are able to flip the level to support, then extension toward $45,000 is the line of thinking followed by many traders. BTC/USDT 4-hour chart. Source: Tra...
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Ledger owners report chilling threats after 20K more records leaked

“Are you able to imagine all the possible consequences that can occur to you and your loved ones?” said the scammer. Ledger users are receiving threatening emails in the wake of the hardware wallet manufacturer reporting that 20,000 more of its customers have been affected by another massive data breach. One or more extortionists using the names Darrin Burlew and Denni Hornig have reportedly sent emails to users who say their personal information was released as a result of the data breach at Ledger in June and July of last year. Reddit user Crypthomie, a former flight attendant based in the United Arab Emirates, said his Ledger owning father received a message today. The email included his name, home address, and phone number and demanded 0.3 Bitcoin ( BTC ) or 10 Ether ( ETH ) — worth roughly $12,000 — or he'd face physical violence. Crypthomie made headlines in the crypto space last by being unable to pay back a $100,000 loan to buy BTC at the height of the 2017 bull run. ...
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Oaktree Capital Chairman Warms up to Crypto — Thankful His Son Owns Enough Bitcoin for the Family

Oaktree Capital co-founder Howard Marks is warming up to cryptocurrency. Once a crypto skeptic, he now says “thankfully” his son is “quite positive on bitcoin” and “owns a meaningful amount for our family.” Howard Marks Warming up to Crypto Howard Marks, co-founder and co-chairman of Oaktree Capital Management, talked about bitcoin in a memo published this week. He has been discussing investment strategies with his son, Andrew, a professional investor who focuses on growth and technology companies. In one section of the memo, Marks admitted that he had “a high level of skepticism” towards cryptocurrencies. The Oaktree Capital Management co-founder noted: This view has been a source of much discussion for me and Andrew, who is quite positive on bitcoin and several others and thankfully owns a meaningful amount for our family. “In the case of cryptocurrencies, I probably allowed my pattern recognition around financial innovation and speculative market behavior – along with my nat...
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Grayscale inflows hit $3.3B in record-breaking fourth quarter

Average weekly inflows into Grayscale’s products hit $250.7 million in the fourth quarter, capping off a stellar year for the asset manager. Institutional investors continued to pile into Grayscale products in the fourth quarter, highlighting the continued urgency for exposure to Bitcoin ( BTC ) and Ethereum ( ETH )  Total investments into Grayscale’s family of products reached $3.3 billion in the final quarter of 2020, which translated into average weekly inflows of $250.7 million, the digital-asset manager reported Thursday. That’s a threefold increase from the third quarter when Grayscale products raked in $1.05 billion. Grayscale’s Bitcoin Trust generated $217.1 million in average weekly inflows. The Ethereum Trust saw an average of $26.3 million in new capital invested. Ninety-three percent of new investments came from institutional investors, with asset managers accounting for the largest share, according to Grayscale. That’s a nine percentage point increase from the t...
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$13B Bitcoin futures open interest reflects traders’ strong bullish optimism

Bitcoin price quickly rallied back to $40,000 but key derivatives indicators show traders are happily flirting with overbought levels. Bitcoin ( BTC ) price recovered by 27% just three days after testing the $31,000 support and earlier today bull recaptured the $40,000 level. This quick recovery occurred despite the digital asset facing one of the largest buy-side liquidations in a single day as $1.5 billion was wiped off the books. Interestingly, futures contract traders appear to have returned with an even larger appetite. After such a large liquidation event, an increased appetite from futures traders is somewhat unexpected but professional investors are skilled at hedging their positions and executing complicated strategies involving options. To measure the impact of the recent liquidations and better understand how these futures traders have been positioned, one should start by analyzing the open interest. Large reductions in this indicator could show that traders were caught...
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Pakistan to Set up Two State-Owned Bitcoin Mining Farms to Help Boost Economy

The government of Khyber Pakhtunkhwa (KP), the third largest of Pakistan’s four semi-autonomous provinces, is setting up two state-backed bitcoin mining farms, local media reported last week. Ziaullah Bangash, advisor to the chief minister of KP on Science and Information Technology, said the provincial parliament passed a bill allowing the KP government to use its own money to establish the mining facilities. The province, which has since legalized crypto mining, will be mining bitcoin ( BTC ) for profit, BOL News, a local media organization, reported . No details were given about the capacity of the mining farms nor the funds that the state intends to invest in the project. This particular province has previously advocated friendly crypto laws in Pakistan. According to Bangash, the KP Assembly also passed a separate no-objection certificate allowing individuals to mine cryptocurrency and issue their own digital assets. The development coincided with the launch of a private bitcoi...
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Is a new rally brewing as Bitcoin reclaims $38K and stablecoins 'flooding' exchanges?

Stablecoin inflows into exchanges spiked right as the price of Bitcoin recovered above $38,000, on-chain data shows. The price of Bitcoin ( BTC ) has extended its recovery on Jan. 14, reclaiming the $38,000 level. What's more, the weekly candle has now turned green for the fifth consecutive week despite the 28% crash earlier this week.  BTC/USD Weekly candle chart (Bitstamp). Source: Tradingview Meanwhile, stablecoin deposits are flooding into cryptocurrency exchanges, according to data from CryptoQuant. This inflow may act as a short-term catalyst for Bitcoin as it suggests that sidelined capital is moving back into BTC. Stablecoins inflow on exchanges. Source: CryptoQuant Why are stablecoins indicative of strong buyer demand for Bitcoin? In the cryptocurrency market, many traders sell crypto assets, like Bitcoin, to stablecoins rather than cash. Stablecoins, such as Tether (USDT), is pegged to the value of the U.S. dollar and are tradable across exchanges. Most exch...
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