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Showing posts from February 5, 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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Blockchain Firm Labs Group Taps Enjin to Tokenize Real Estate Assets

The year has started with a batch of announcements regarding tokenization in various sectors. On this occasion, a blockchain gaming platform announced its collaboration with Labs Group to issue non-fungible tokens (NFTs) of real estate assets. Global Real Estate Market Is Valued at $228 Trillion According to the announcement , the blockchain real estate company will use the Enjin platform to mint and issue NFTs. People will be able to buy fractionalized real estate assets starting at $100, making the first step into real estate-related investments. As the global real estate market represents the world’s largest asset class, valued at $228 trillion so far, Enjin expects that tokenization of fractional share increases its liquidity. All tokens processed on the Enjin platform will pass through the Ethereum blockchain. Enjin also clarifies that it can avoid settlement periods by channeling such transactions on that network. Maxim Blagov, Enjin’s CEO, commented on the blockchain gamin...
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Youtuber Logan Paul Releases a Limited Edition of His NFT Artwork Ahead of Mayweather’s Fight

A famous Youtuber and now boxer is making inception into the non-fungible token (NFT) industry to promote his artwork. Logan Paul will gift NFT-based cards as part of an auction of the rare “Pokemon 1st Edition Booster Packs” game collection. NFTs Feature Logan’s Holographic Image With His Boxing Gear According to the announcement , Paul acquired packs of Pokémon cards after spending $2 million on them. The set of cards was released in 1999 by Wizards of the Coast, which contains 102 cards. Paul will be auctioning all 36 packs of the Pokémon game cards from February 4 until February 11. The auction will also take place through the sports collectibles platform, Goldin Auctions. On the other hand, the unboxing is scheduled to take place on February 27. Along with each product auctioned, the Youtuber will give one of the 44 NFTs that feature a “holographic” image of himself with his boxing gear. However, if people are unable to make a bid on the auction, Paul is selling a limited edi...
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Paypal Launches Business Unit Dedicated To Cryptocurrency

Paypal is launching a new business unit dedicated to cryptocurrency services, the company chief executive officer Daniel Schulman announced this week. In an earnings call on February 3, 2021, Schulman said the existing financial system is outdated and that his firm will be investing a lot of money into blockchain and digital currencies. Schulman explained: We all know the current financial system is antiquated, and we can envision a future where transactions are completed in seconds, not days; a future where transactions should be less expensive to complete; and a future that enables all people to be part of the digital economy, not just the affluent. We are significantly investing in our new crypto, blockchain, and digital currencies business unit in order to help shape this more inclusive future. The new crypto business unit is expected to launch later this quarter. The CEO also revealed that customers will be able to use crypto to pay for goods and services at Paypal’s 29 mil...
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Record $6.5B futures open interest signals traders are bullish on Ethereum

The open interest on Ethereum futures hit a record $6.5 billion as ETH rallied to $1,750 and traders increased their leverage. Ether ( ETH ) price has rallied by 33% over the last five days and data shows that as this occurred some buyers began to use excessive leverage.  Although this is not necessarily negative, it should be considered a yellow flag as a higher premium on futures contracts for short periods is normal. ETH/USD 4-hour chart. Source: TradingView Although Ether’s upward movement has been going for an extended period, it was only in February that Ether finally broke the $1,500 psychological barrier and entered price discovery mode. To assess whether the market is overly optimistic, there are a few essential derivatives metrics to review. One is the futures premium (also known as basis), and it measures the price gap between futures contract prices and the regular spot market. The 3-month futures should usually trade with a 6% to 20% annualized premium, which ...
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An Aggregated List of Cryptocurrency ‘Fair Values’ in 2021 Gives a Different Perspective

During the last decade, cryptocurrency users have leveraged a number of coin market capitalization aggregators, in order to check in on a crypto asset’s price and the project’s overall market valuation. However, there’s also a number of crypto price aggregators that follow a different method of recording market caps, in contrast to multiplying the supply by the price of each unit. The web portal coinfairvalue.com attempts to measure ‘fair values’ by using the current usage of each coin and without any implied speculation. Coinfairvalue.com Is a Lot Different Than Traditional Market-Cap Aggregators Crypto price aggregators measure the spot price of each crypto asset and then multiply that number times the circulating supply of each digital currency. Then an aggregator like our web portal markets.Bitcoin.com , lists each crypto market cap in order from the largest valuation to the least. There are also market cap aggregators that measure cryptocurrencies like bitcoin ( BTC ) and ethe...
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Estonia's crypto honeymoon at an end as stricter regulations loom

After revoking licenses for many crypto firms, Estonia’s parliament is considering even stricter cryptocurrency laws. Estonia’s finance ministry is reportedly looking to enact stricter crypto licensing regulations. This comes after the authorities revoked the licenses of about two-thirds of the cryptocurrency businesses operating in the country back in 2020. According to ERR News, the Estonian Ministry of Finance issued draft legislation back in January to tighten the noose on the country’s crypto industry. As part of the proposed rule changes, the Finantsinspektsioon — Estonia’s Financial Supervisory Authority — will oversee the regulation of cryptocurrency businesses instead of the Financial Intelligence Unit. This change will bring crypto oversight under the purview of financial regulators as against the current paradigm where the FIU, which is part of the police department handles the monitoring of cryptocurrency businesses. Crypto firms interested in operating in Estonia wi...
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EY deploys blockchain products on China’s Blockchain-based Service Network

EY is collaborating with major Chinese blockchain projects like BSN and FISCO BCOS to expand its blockchain deployment in China. Ernst & Young, one of the world’s largest professional services networks, is expanding its blockchain services in China in partnership with major local blockchain projects. According to a Feb. 5 announcement, EY will deploy its blockchain products on the Ethereum blockchain and Blockchain Open Source a platform run by Tencent-backed Financial Blockchain Shenzhen Consortium, or FISCO. EY will specifically offer its two blockchain solutions — EY Blockchain Analyzer and EY OpsChain — through the Chinese national blockchain initiative , the Blockchain-based Service Network. The offerings will be available to users in China as well as across the entire EY Asia-Pacific region. Designed for business interaction via public and private blockchains, EY OpsChain will be the first EY solution deployed on BSN. According to the announcement, the service availab...
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'Top around $390K' — New chart shows this Bitcoin bull run is only beginning

Bitcoin could see in excess of 10x growth in the mid term should historical trends repeat for a third time, says ARK Invest's Yassine Elmandjra. Bitcoin ( BTC ) could reach almost $400,000 this bull cycle simply by copying previous behavior, one popular analyst has said. In a tweet on Feb. 4, Yassine Elmandjra, cryptoasset analyst at asset manager ARK, revealed just how early on in its current bull run BTC/USD really is. BTC price to $400,000? Compared to 2013 and 2017, the 2020-21 cycle is barely off the start line, with a hypothetical chart suggesting that the top this time around could be as high as $390,000. “This is how bitcoin’s price would behave if the current bull market dwarfed the 2017 bull market in the same way the 2017 bull market dwarfed the 2013 bull market,” Elmandjra added in comments. “The top would be around $390,000 per bitcoin. The red dot is where we’d be now.” BTC/USD hypothetical chart based on previous bull runs. Source: Yassine Elmandjra/ Twitte...
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Twitter's Jack Dorsey has fired up a full Bitcoin node

The Twitter chief will soon be helping to validate the Bitcoin blockchain after posting a picture of his node synchronization in progress. Twitter founder and CEO Jack Dorsey has fired up his own Bitcoin ( BTC ) node. On Jan. 5, the tech billionaire posted a screenshot of the Bitcoin node software Bitcoind running on his computer, meaning Dorsey now lends a hand in validating Bitcoin transactions. Dorsey posted the screenshot along with the words, “Running #bitcoin”. The photo shows Dorsey’s computer in the midst of synchronizing with the Bitcoin blockchain, which requires that a user download the entire history of the chain to date. The Bitcoin blockchain is around 325GB in size at time of writing. Running #bitcoin pic.twitter.com/W51ga3yrKb — jack (@jack) February 5, 2021 The synchronization process can take weeks depending on the computer and internet speed, and Dorsey’s screenshot shows that he’s only managed to synch up 2% of the chain so far. When asked if he was runn...
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Crypto-Friendly Travel Firm Travala Becomes the First Merchant to Offer Binance Pay as a Payment Method

Crypto-friendly travel website Travala has announced the integration of a brand-new payment application, Binance Pay. With such a move, the travel booking company becomes the first merchant to implement Binance Pay as a payment form after its launch on Feb. 3. Five Cryptos and One Fiat Currency Will Be Offered in the First Stage of Binance Pay Per the announcement , Travala allows its customers to use the new payment application, still in beta mode, to book travel products. They include hotels, homes, flights, among others. With Binance Pay, Travala’s users will have the option to pay straight from their Binance accounts with five cryptos and one fiat currency supported initially: bitcoin ( BTC ), ether ( ETH ), binance coin ( BNB ), binance USD (BUSD), swipe (SXP), and EUR. Changpeng Zhao, founder and CEO of Binance, confirmed via Twitter the integration of the payment application with Travala. The crypto-friendly travel company seeks to expand its portfolio of accepted payment...
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