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Showing posts from February 17, 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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Pionex Is a Crypto Exchange With Built-in Automated Trading Tools You Can Trust

The international Pionex cryptocurrency exchange has been one of the fastest growing trading platforms in Asia in 2020 and it is now set to capture even more of the global market in 2021. What makes Pionex so popular is the trustworthy team of professionals behind it and the top notch automated trading tools that it offers for free to all clients. A Professional Crypto Exchange You Can Trust With so many platforms, exchanges and protocols competing for your crypto these days it can be hard to know which to choose. The number one principle that should guide you is to find a company you can trust, and one of the best options for that is Pionex . It has around 100,000 users and it is one of the biggest Binance brokers while it aggregate liquidity from Huobi Global at the same time. Pionex already has a U.S. MSB license and is pending for a Singapore MAS license. It never issued its own token like other exchanges and it is more likely to reach NASDAQ with an IPO than just pull another...
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Nigeria and South East Asia led global crypto adoption in 2020

Statista has found that one-in-three Nigerians held or used crypto assets during 2020. Data published by statistics firm Statista has revealed Nigeria is the leading country per capita for Bitcoin and cryptocurrency adoption, with nearly one in three survey respondents indicating they used or owned crypto assets in 2020. According to the survey , the pre-existing prevalence of mobile phone based peer-to-peer payments has led many Nigerians to explore cryptocurrency. Statista noted that many Nigeria responded they had recently installed crypto payment applications on their devices. The findings also note that many Nigerians are exploring crypto assets for international remittances. Adoption in the country shows no signs of slowing, with demand for crypto assets booming among Africa’s largest population despite the Central Bank of Nigeria enacting a ban on banks providing financial services to crypto exchanges in the past fortnight. On Feb. 17, Cointelegraph reported that BTC was tr...
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New York AG accuses Coinseed of defrauding investors

The New York Attorney General has filed a lawsuit against crypto investment platform Coinseed for allegedly defrauding investors and selling a token that remains unlisted three years later. New York State Attorney General Letitia James has sued crypto investment platform Coinseed Inc for allegedly defrauding thousands of investors out of more than $1 million.  According to the Attorney General , Coinseed and its CEO Delgerdalai Davaasambu and former CFO Sukhbat Lkhagvadorj, traded unlawfully, defrauding investors between 2017 and May 2018: “Rather than selling stock, Coinseed sold digital tokens to raise funds to support the growth of its business. Defendants represented to investors that money raised in the ICO would be used to ‘accelerate [Coinseed’s] growth and global expansion.’” The allegations laid out in the court documents center around Coinseed’s violation of the Martin Act, a New York -based anti-fraud act. In the ICO of their CSD token which launched in December 20...
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Top 3 DeFi lending protocols exceed $20B in deposits

DeFi’s top three lending protocols have reached record levels of collateral lockup above $20B. There has been no slowdown in the amount of collateral pouring into the leading decentralized finance protocols this year. DeFi’s leading three lending protocols have amassed approximately $20 billion according to Dune Analytics. A Messari research report into valuing these platforms suggests they’re on track to generate in excess of half a billion in interest annually. Maker, Compound Finance , and Aave have all seen record levels of lending deposits as crypto yield farmers seek exponentially better returns than traditional banks can offer. Messari posted on Twitter: “The top three lending platforms will generate $660m in interest per year at the time of writing,” Lending deposits reach $20 billion across Aave, Compound, and Maker pic.twitter.com/NSAThXcYy8 — Messari (@MessariCrypto) February 17, 2021 Messari researcher Mira Christanto commented that protocols extract value by bo...
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Token-Driven Karaoke Platform Gets a Boost in South Korea as Pandemic Hits Over 2,100 Singing Rooms

Coronavirus-driven lockdowns and social distancing limits affect people’s way of entertaining themselves, such as going to karaoke. In South Korea, that activity is too popular, and despite the COVID-19 outbreak, the crypto industry is trying to capitalize on it. Somesing: A Blockchain-Based Karaoke App Per Fn News , Somesing, a blockchain-based karaoke app, already hit the 400,000 users’ milestone. The figure is significant, considering that it’s doubling the user base (195,000) for the last six months. Karaoke’s hobby is like the norm in several Asian countries, and the coronavirus pandemic knocked down this sector heavily. In fact, according to figures published by local media, at least 2,137 “noraebang” businesses had to shut down across South Korea since the outbreak started. The number is the lowest level ever recorded, stated the Shopping Center Information Research Institute. “Noraebang” is the Korean name given to private singing rooms, translated into Western countries’...
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Arcade classic Street Fighter II launches NFTs on WAX blockchain

It's shaping up to be the year in which NFTs go mainstream, thanks to successful releases by a number of household names. Video game developer Capcom is the latest pop culture brand to enter the crypto collectibles space, launching a series of Street Fighter II-inspired NFTs on the WAX blockchain on Feb. 18.  The digital trading cards feature renderings of characters from the ever-popular arcade game, first released 30 years ago in 1991. DATE CONFIRMED: Official @StreetFighter will arrive on February 18th @ 12pm EST on the WAX #Blockchain ! Are you excited as we are? Get yourself a free & exclusive sticker #NFT every day until launch: https://t.co/PwA13QYZvx Join us Telegram and get notified for new drops: — WAX Blockchain | WAX.io (@WAX_io) February 8, 2021 Digital packs containing 10 and 60 Street Fighter II cards will be available for purchase via credit card only. Cards are released from packs in an “unpacking” process that simulates the opening of a physical...
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Elon Musk’s Tesla Faces Scrutiny Over Potential Conflict of Interest in $1.5 Billion Bitcoin Purchase

Tesla is facing more scrutiny over its $1.5 billion dollar bitcoin purchase. A Tesla board member who reportedly approved the company’s bitcoin buy deal is a cryptocurrency investor who also sits on the boards of two major crypto firms. Experts Question Conflict of Interest in Tesla’s Bitcoin Purchase Tesla is further under scrutiny over its bitcoin purchase as experts now question whether there is a conflict of interest surrounding a director who approved the company’s big bitcoin purchase, the Telegraph reported Tuesday. Tesla recently revealed that it bought $1.5 billion worth of bitcoin in January and plans to accept the cryptocurrency as a form of payment for its products in the near future. The conflict of interest question surfaced when it emerged that a Tesla director who approved the company’s bitcoin buy is also a crypto investor with ties to two crypto firms, the publication described. Antonio Gracias is listed on the Tesla website as an independent director and a member...
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DeFi aggregator growth 'set to dwarf 2020’s volume'

DeFi users are increasingly turning to aggregators to get the most cost effective trades. Decentralized finance aggregators are growing in popularity in 2021 as the embryonic industry continues to expand. Delphi Digital analyst Ashwath Balakrishnan has observed that year-to-date growth for DeFi aggregators puts the sector on track to dwarf 2020’s figures. The researcher noted 1inch, Matcha, and Paraswap facilitated a total $9.3 billion of volume across 2020 — but that as of Feb. 16, the 1inch exchange alone had recorded close to $10 billion in volume in just the first 46 days of 2021. 1/ Aggregators had a breakout year in 2020, with platforms like @1inchExchange and @zapper_fi recording significant growth The best part? YTD numbers indicate 2021's growth is about to dwarf 2020's https://t.co/MC4ZlkEzVo — Ashwath Balakrishnan (@ashwath_22) February 17, 2021 With liquidity being the lifeblood of decentralized finance markets, competition for collateral increases, and...
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Motley Fool adding $5M in Bitcoin to its ‘10X portfolio’ — has a $500K price target

“We plan to hold this Bitcoin investment for many years and we'll wait for all of our members in our new 10X service to be able to buy before we do.” Financial and investment advisory giant The Motley Fool has announced it will invest $5 million into Bitcoin with the expectation that it will rise to $500,000. Announced earlier today via a blog and Twitter post, the firm stated it won’t be “buying overpriced ETFs” but will be “buying Bitcoin directly.” Currently ranked fifth globally in the investing category according to  SimilarWeb , and with 87 million website visits a month, The Motley Fool outlined three core reasons behind the purchase: that Bitcoin is a better store of value than gold, it's an effective hedge against inflation and that it has the potential to become a transactional asset. Here’s why: 1. We believe it will store value more effectively than gold over the long term. 2. We believe it may become a medium for transactions, as/if pricing stabilizes in ...
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Robinhood announces plans to offer crypto deposits and withdrawals

Robinhood’s reputation has taken a battering lately but it hopes to regain credibility among the crypto community by introducing cryptocurrency transfers. The controversy laden trading platform Robinhood announced today it intends to implement cryptocurrency deposits and withdrawals. While customers have been able to buy and sell cryptocurrency via the platform for some time, they are unable to access the coins themselves to transfer them to other wallets. According to a series of tweets published from the company’s Twitter account, work on integration of cryptocurrency transfers has already begun, though no dates or specifics were provided on when it will go live. Robinhood also clarified that crypto deposits would be custodied by their own wallets and added the company does not invest in cryptocurrency and will not use customer funds for its own benefit. So much interest in Crypto! To be crystal clear , we fully intend to provide the ability to deposit and withdraw cryptocurre...
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German Cannabis Firm Hedges Bitcoin to Protect from Massive Currency Devaluation

On Tuesday, the cannabis firm Synbiotic SE, a publicly-traded company in Germany that’s listed on the Frankfurt Stock Exchange and Xetra, has announced it is leveraging bitcoin to hedge against the euro. Synbiotic’s chief executive officer, Lars Müller explained that the company decided to hedge with the leading crypto asset in order to protect the firm from further risk of euro and dollar devaluation. Synbiotic CEO: ‘Bitcoin Is the Exact Antithesis of Traditional Currencies’ A German cannabis company is joining the growing list of firms that are adding bitcoin ( BTC ) to their treasuries. Synbiotic SE announced on Tuesday that it is holding BTC in order to hedge against fiat currency inflation. Synbiotic’s CEO, Lars Müller explained that the cannabis firm has already started to shift “free liquidity into bitcoin.” “Our decision focused less on price fluctuations than the risk of devaluation of euro and dollar. Bitcoin is the exact antithesis of traditional currencies: its volume...
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Dubai Government Licensing Entity Now Accepts Bitcoin for Payments

A government-owned entity in Dubai has started accepting bitcoin, ether and tether as payment for its services, according to local media reports. Kiklabb is a free trade zone that helps companies set up shop in Dubai, a wealthy city and emirate in the United Arab Emirates (UAE). Kiklabb issues trade and other licenses as well as processes visas. The entity also leases office space to its customers on-board the Queen Elizabeth 2 cruise liner anchored at Port Rashid in Dubai. Payments for these and other services can now be made in bitcoin ( BTC ), the Gulf News reported on Feb. 16. Tasawar Ulhaq, chief executive officer of Kiklabb, said the decision was made in response to a “growing interest in cryptocurrency with several customers in blockchain and fintech (financial technology) sectors.” He noted that crypto-based payments allowed for more accessibility for global entrepreneurs looking to start a business in the UAE. “It really was just a matter of time before we recognized bi...
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Bitcoin selling at 36% premium in Nigeria

In the wake of the recent ban on Nigerian banks' servicing of crypto exchanges, Bitcoin's price in the country has seemingly spun out of control. It's been roughly 11 days since the Central Bank of Nigeria banned all regulated financial institutions from providing services to cryptocurrency exchanges in the country. At the risk of stiff penalties, all banks and institutions were directed to close crypto-related firms' accounts immediately.  In the wake of the controversial move, public interest in Bitcoin ( BTC ) in Nigeria continues to outstrip other countries, according to the latest available data from Google Trends. Even more stark is the hefty 36% premium on Bitcoin's price as of the time of writing, Feb. 16. The premium translates into a $71,150 price tag per Bitcoin, as compared with the average spot market price of $51,314  calculated in Cointelegraph's price index. The premium is also incomparable to the five next largest premiums globally at pre...
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German cannabis company hedges with Bitcoin in case euro crashes

SynBiotic SE cites "legitimate concern" about a "massive devaluation of fiat money." SynBiotic SE, a German cannabis company, has announced that it is following the lead of companies like MicroStrategy and Tesla in shifting part of its liquid cash holdings into Bitcoin ( BTC ). In a Feb. 16 update on its website, the company stated that the move was spurred by “legitimate concern about a massive devaluation of fiat money,” due to an “excessive increase” in both euro and U.S. dollar money supply. CEO Lars Müller went further, stressing that the decision was not driven by recent price appreciation, but that, “we have more long-term confidence in bitcoin than in euros or dollars, where a central institution, influenced by politicians, can expand the money supply immeasurably.” He went on to say that the cannabis industry in particular has had “very positive experiences with Bitcoin as a simple and digital means of payment,” and that several SynBiotic subsidiaries...
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GPU hardware firm riles gaming community by flirting with crypto miners

Hungry for coin? A computing hardware firm has angered gamers after apparently marketing the already scarce Nvidia RTX 30 series to cryptocurrency miners. Computing hardware manufacturer Zotac angered a customer base of loyal gamers on Feb. 16 after it posted a tweet apparently marketing its new Nvidia 30 series graphics cards to cryptocurrency miners. Zotac’s post showed a stack of what looks to be GeForce RTX 3070 White Edition GPUs, along with the caption, “An army of ZOTAC GAMING GPUs hungry for coin!" An army of #ZOTACGAMING GPU's hungry for coin! IG: @pc .lad #ZOTAC #PcGaming #Gaming #Gamers #Tech #PcHardware #PcComponents #PCMR #PcMasterRace #RTX pic.twitter.com/8vFtgPZvP4 — ZOTAC USA (@ZOTAC_USA) February 16, 2021 The availability of Nvidia’s 30 series graphics cards plunged moving into the new year, while their cost exploded. By late December 2020, Ether ( ETH ) miners could make $12,000 a month (depending on electricity costs) by combining 78 o...
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Microsoft has no plans to make Tesla-like move into Bitcoin, says president

Microsoft president Brad Smith did not exclude the possibility of the company putting Bitcoin on its balance sheet one day. Microsoft, the second-largest company in the United States, does not apparently have any short-term plans to put Bitcoin ( BTC ) on its balance sheet, according to the firm’s president Brad Smith. In a Feb. 16 interview with CNN’s Julia Chatterley, Smith still hinted that Microsoft could still change its mind about a Bitcoin investment. When asked whether Microsoft is discussing any cryptocurrency diversification plans following Tesla’s $1.5 billion investment in Bitcoin , the Microsoft president said that he is not aware of such discussions: “I haven’t heard any new conversation about Bitcoin. But let me just say, if we change our investment policy on Bitcoin, Julia, you will be the first or at least the second to know.” Bitcoin's market capitalization is inching higher to overtake some of the largest American companies. As previously reported, Bitcoin...
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Bitcoin hits a new high of $51.3K as analyst declares 'historic' parabolic advance

It's all systems go for Bitcoin as bulls look to cement $50,000 as support and create the "new normal" for BTC/USD. Bitcoin ( BTC ) hit new lifetime highs of more than $51,200 on Feb. 17 as it tackled what trader Peter Brandt confirms is a “parabolic advance.” BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin enters uncharted $50,000 zone Data from Cointelegraph Markets and TradingView showed BTC/USD passing the $50,000 resistance level again on Wednesday, this time continuing into uncharted territory. Tuesday had seen Bitcoin hit $50,000 for the first time ever, that level nonetheless failing to hold for more than a matter of minutes. With its return, the largest cryptocurrency is in a "parabolic advance" — the fourth in its twelve-year history, analysts say. "Big picture $BTC Bitcoin is undergoing its third parabolic advance in the past decade," Brandt tweeted alongside an annotated price chart. "A parabolic adva...
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Ethereum joins the $200 billion club — But is it worthy?

Ethereum broke the $200 billion market cap mark, surpassing secular companies such as Novartis and AT&T. Ether ( ETH ) is up 150% in 2021, causing its market capitalization to soar above $200 billion. Most traders are fixated on the unitary price, even though it is entirely arbitrary, therefore missing relevant milestones and comparables. Ether and Bitcoin YTD performance. Source: Digital Assets Data Investors, mainly those coming from the traditional industry, are used to compare multiples of earnings, sales, and market share. Meanwhile, when valuing a cryptocurrency with multiple use cases, there is no single metric to gauge its potential. Ether might simultaneously act as a digital store of value while functioning as the token required to access the Ethereum network. ETH market cap, in USD billion. Source: TradingView To evidentiate the myopia caused by unitary prices, Cardano ( ADA ) is priced below $1, although its market capitalization is over $26 billion. Therefore...
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