Skip to main content

Posts

Showing posts from February 21, 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...
Post a Comment
Read more

CyberFi – An Intelligent Trading and Automation Platform for DeFi

While the decentralized finance (DeFi) space is not new, it has experienced massive growth to surpass $37 billion. Consequently, the sector attracted a lot of attention, which, in turn, led to the unearthing of multiple deficiencies that the industry has. As a result, many projects have been continuously cropping up to address these issues. While the projects are working at a record pace to tackle these challenges, the industry still has a lot of upgrading to do. Enhance the DeFi Experience Chipping in to help solve one of DeFi’s insufficiencies is CyberFi , a startup that seeks to offer intelligent trading and enhanced automation to make DeFi user-friendly. The project is a new-gen intelligent trading and automation platform (ITAP). It is described as a multi-product ecosystem that comprises automation products, seeking to enhance the DeFi experience. CyberFi is the first platform of its kind that aims to fill a gap in DeFi trading by addressing a variety of issues, including hig...
Post a Comment
Read more

Bitcoin Hashrate Hits 180 Exahash, Mining Difficulty Climbs Higher, Pools Jump by 35%

The price of bitcoin has climbed to phenomenal heights during the last few weeks and this has fueled the crypto asset’s mining sector a great deal. Despite the fact that the Bitcoin network’s mining difficulty has never been higher at 21.72 trillion, the hashrate has climbed to a whopping 180 exahash per second (EH/s) and there’s 23 mining pools dedicating significant hashrate to the Bitcoin blockchain. 180 Exahash and a 21.72 Trillion Difficulty Bitcoin (BTC) continues to climb higher and higher in value and on Sunday the crypto asset tapped another all-time price high. BTC reached a whopping $58,300 price per unit on February 21, and the asset’s market valuation captured 1.09 trillion in value. The price of BTC has made bitcoin mining extremely profitable as next-generation mining rigs are making bountiful profits. For instance, the Microbt manufactured Whatsminer M30S++ with 112 terahash per second (TH/s) gets $37 a day. The popular Bitmain Antminer S19 Pro (110 TH/s) gets a...
Post a Comment
Read more

Skybridge Capital Founder Predicts $100K Bitcoin Price This Year Due to ‘Heavy Demand’ and Diminishing Supply

The founder of asset management firm Skybridge Capital, Anthony Scaramucci, has predicted that the price of bitcoin will reach $100,000 before the year-end simply due to supply and demand. “You don’t have a lot of supply out there and very heavy demand,” he said. His firm currently has over half a billion dollars in bitcoin. Skybridge’s Founder Expects $100K Bitcoin Before End of Year Skybridge Capital founder and managing partner Anthony Scaramucci talked about his expectations for the price of bitcoin and his firm’s investment in the cryptocurrency during an interview with CNBC last week. Noting that he sees ferocious demand in bitcoin while its supply is decreasing, Scaramucci expects the price of the cryptocurrency to double by the end of the year. The Skybridge Capital founder remarked: I do think we see $100,000 in this coin before year-end … It’s just a supply and demand situation. You don’t have a lot of supply out there and very heavy demand. Bitcoin’s price has been c...
Post a Comment
Read more

‘Big Short’ Investor Michael Burry Warns Governments Could ‘Squash’ Bitcoin

Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, has warned that governments could “squash” bitcoin in an inflationary crisis. Expecting more massive stimulus from the government, he said to “prepare for inflation.” Michael Burry Shares His View on Bitcoin American investor Michael Burry has warned that governments could “squash” bitcoin and even gold to protect their own currencies. Burry founded hedge fund Scion Capital and is best known for being the first investor to foresee and profit from the U.S. subprime mortgage crisis that occurred between 2007 and 2010. In a series of tweets Thursday night, Burry wrote, “Prepare for inflation.” He expects more stimulus from the government to drive up prices, fuelling inflation, as the economy tries to recover from the coronavirus pandemic. He tweeted: In an inflationary crisis, governments will move to squash competitors in the currency arena. $ BTC #gold Burry became famous after his billion-dollar...
Post a Comment
Read more

DEX goals diverge as SushiSwap (SUSHI) and Uniswap (UNI) rally to new highs

The goals and development of SushiSwap and Uniswap are diverging as each exchange’s governance token reaches new all-time highs. Uniswap and SushiSwap have emerged as two of the top decentralized exchanges (DEXs) that are leading the current DeFi bull run higher . Despite a controversial start for SushiSwap, the last few months have seen it catching up to Uniswap in terms of activity on the platform, total value locked, and the price of its SUSHI governance token. A recent report from Delphi Digital took a closer look at the two projects and broke down the fundamental differences in the way that each has diverged in their development since SushiSwap’s vampire attack on Uniswap. SUSHI vs. UNI price. Source: TheTIE SushiSwap originally emerged as a fork of Uniswap v2 with the inclusion of the SUSHI governance token which was distributed to participants of the community. At the time, Uniswap had yet to launch the UNI token which would subsequently be airdropped to users who had...
Post a Comment
Read more

Here’s how multi-leg options allow traders to profit from $2K Ethereum price

Using multi-leg options can give traders a less risky way to invest in Ethereum price as it pushes above $2,000. This week Ether ( ETH ) price finally broke through the $2,000 level as aggressive institutional inflow through Grayscale Investments products and declining exchange reserves signaled that buying pressure was increasing. While many traders are skilled at using perpetual futures and the basic margin investing tools available on most exchanges, they may be unaware of additional instruments that can be used to maximize their gains. One simple way, albeit expensive, is buying Ether call option contracts. Ether 60-day historical volatility. Source: TradingView For example, a March 26 call option with a $1,760 strike trades at $340. In the current situation, the holder would only profit if Ether trades above $2,180 in 39 days, a 21% gain from the current $1,800. If Ether remains flat at $1,800, this trader will lose $300. This is certainly not an excellent risk-reward pro...
Post a Comment
Read more

Federal Reserve Bank President James Bullard Confident Bitcoin Not a Threat to US Dollar

The president of the Federal Reserve Bank of St. Louis, James Bullard, has shared his view on the future of bitcoin. He is confident that the cryptocurrency poses no threat to the U.S. dollar. Referencing the unpopularity of various versions of dollars issued before the Civil War by banks, Bullard predicts the same fate will happen to bitcoin. St. Louis Fed’s President Says Bitcoin’s Popularity Won’t Threaten the Dollar James Bullard said in an interview with CNBC last week that increasing interest in bitcoin, coupled with all-time high prices, does not pose a threat to the U.S. dollar as the world’s reserve currency. Bullard is an economist who has been the president of the Federal Reserve Bank of St. Louis since 2008. “I just think for Fed policy, it’s going to be a dollar economy as far as the eye can see — a dollar global economy really as far as the eye can see — and whether the gold price goes up or down, or the bitcoin price goes up or down, doesn’t really affect that,” the ...
Post a Comment
Read more

Bitcoin pizza all over again — delivery driver reportedly cashes in on $400 BTC tip

"I let the pizza guy choose between $5 in fiat or BTC. Needless to say, he chose wisely," said the Redditor. A driver who held $5 in Bitcoin ( BTC ) as a tip for his pizza delivery services has reportedly resurfaced after seven years. According to a post from Redditor btcbible, the Bitcoiner ordered a pizza on Dec. 28, 2013 and gave the delivery driver two options for his tip: a $5 bill, or 0.0069 BTC on a paper wallet. The value was roughly the same at the time, given the price of the crypto asset was $774. However, the driver reportedly contacted btcbible this week for help on getting the funds into a hot wallet. With Bitcoin’s recent rise to a new all-time high of more than $58,000, the BTC is now worth roughly $400, an increase of more than 7,000% since the pizza was delivered hot. "I let the pizza guy choose between $5 in fiat or BTC,"  said btcbible. "Needless to say, he chose wisely. I've responded with instructions on how to import the priv...
Post a Comment
Read more

Former BoE, BoC Governor Mark Carney joins Stripe board of directors

Mark Carney, one of the most prominent central bankers of the post-financial crisis era, has officially joined the digital payments company. Stripe has all but abandoned cryptocurrency payment solutions for the time being, but its founders are positive about the emerging industry. After paving the way for digital currency innovation at the Bank of England , or BoE, Mark Carney has officially joined the board of directors at Stripe — a company that’s committed to building new commerce solutions for the internet.  Stripe introduced Carney as board member on Sunday, where he joins Christa Davies, Diane Greene, Jonathan Chadwick, Sir Michael Moritz and Stripe co-founders Patrick and John Collison. The U.S. digital payments company says it will benefit from Carney’s “extensive experience of global financial systems and governance,” especially as it rolls out new climate efforts. “The very nature of commerce has changed over the past decade," Carney said . "Stripe has been at ...
Post a Comment
Read more

Ripple now registered as a Wyoming business

"More crypto companies are realizing Wyoming is a better domicile than Delaware due to our crypto-friendly laws," said Caitlin Long. Blockchain-based payments firm Ripple Labs has now registered a business in Wyoming. According to records from the Wyoming Secretary of State, Ripple Markets WY LLC’s status as a local business is listed as "active" after an initial filing in February 2020. As a limited liability company in Wyoming, Ripple’s registered agent will be based in Cheyenne. “More crypto companies are realizing Wyoming is a better domicile than Delaware due to our crypto-friendly laws,” said Caitlin Long on Twitter. Long is the CEO of digital bank Avanti Bank & Trust and associated with the state legislature’s Select Committee on Blockchain, Financial Technology and Digital Innovation. She said crypto firms like Ripple should consider relocating to Wyoming due to the state not having any corporate or franchise taxes, and cryptocurrencies being exe...
Post a Comment
Read more

Top 5 cryptocurrencies to watch this week: BTC, AAVE, ATOM, NEO, VET

Select altcoins continue to move higher as traders attempt to push Bitcoin price to $60,000. The Purpose Bitcoin ( BTC ) exchange-traded fund debuted on the Toronto Stock Exchange on Feb. 18 and has quickly ramped up trading volumes of about $400 million worth of shares in two days. This is quite impressive, considering that the equity market in Canada is only a fraction of the size of the U.S. markets. This shows strong demand for Bitcoin and investor's preference to take the ETF route to establish fresh positions. Last week, Bitcoin reached another important milestone when it hit the critical $1 trillion market capitalization on Feb. 19, making it the sixth asset on the list of top market cap companies in the world.  The involvement of institutional investors and a market cap of over $1 trillion could allay the concerns of manipulation and liquidity raised by the U.S. Securities and Exchange Commission in the previous years as it rejected Bitcoin ETF applications.  Cr...
Post a Comment
Read more

Canadian Bitcoin ETF predicted to hit $1B AUM by Friday: Bloomberg analyst

Eric Balchunas said the Purpose Bitcoin fund could surpasses all other ETFs in Canada within two months, "barring a nasty selloff." With only two full days of trading under its belt, the first Bitcoin ( BTC ) exchange-traded fund in North America reached more than $400 million in volume and is expected to go even higher. According to a tweet from Bloomberg analyst Eric Balchunas, the Bitcoin exchange-traded fund, or ETF, recently debuted by Canadian firm Purpose Investments is likely to hit $1 billion in assets under management by Feb. 26. His prediction came prior to Purpose reporting its Bitcoin ETF traded $421.8 million between the time when it was first listed on the Toronto Stock Exchange, or TSX, on Feb. 18 and when markets closed Friday. The ETF is listed under the ticker BTCC. Balchunas compared the impressive debut of the Purpose Bitcoin fund to other ETFs currently trading on the TSX. At more than $4.6 billion in total assets, the JPMorgan BetaBuilders Canada ...
Post a Comment
Read more

Gold Bull Jeffrey Gundlach Says ‘BTC Maybe the Stimulus Asset’ Ahead of the Precious Metal

Renowned gold bull and CEO of investment management firm Doubleline, Jeffrey Gundlach says bitcoin may be the “stimulus asset” while adding it “doesn’t look like gold is.” Gundlach, a self-professed long-term dollar bear, had preceded his comments about bitcoin by remarking that “lots of liquid poured into a funnel creates a torrent.” BTC Outperforming Gold In the same tweet , Gundlach suggests that he came to the conclusion after staying “neutral (on both gold and the dollar) for the past six months.” In the past six months, the two stores of value have had contrasting fortunes with BTC appearing to win the battle for supremacy. After starting September 2020 trading at just under $12,000, BTC has since rallied to peak at $57,399 on February 20, 2021, according to Messari. At the time of writing, the crypto asset was trading above $57,000. In contrast, gold, which reached its all-time record high of $2,067.15 per ounce on August 7, 2020, has largely stayed under $1,900 for the...
Post a Comment
Read more

Pricing Gold, Food, and Altcoins With the BTC Denominator: How to Measure an Asset’s Worth in Bitcoin

On February 21, bitcoin touched a lifetime price high at $57,844 per unit after the crypto asset’s market valuation crossed the $1 trillion zone for the first time in history the day prior. Meanwhile, a number of digital assets have seen fiat values increase as coins like litecoin, ethereum, and others gather gains against the U.S. dollar. However, when bitcoin is the base denominator in terms of value, a lot of coins have a long way to go to catch up. Measuring Alternative Crypto Assets With Bitcoin The crypto asset bitcoin (BTC) has seen phenomenal gains and a lot of other digital currencies have seen price increases as well. For instance, ethereum (ETH) is the second-largest digital asset in terms of market capitalization, and ETH has touched the $2,040 price range. Now ETH has seen pretty decent gains against the U.S. dollar, as it up a decent 76.32% during the last month, and 249.90% over the last three months. Traditionally people price everything in their local fiat curr...
Post a Comment
Read more