Skip to main content

Posts

Showing posts from February 27, 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

Report: Asia’s Cryptocurrency Landscape the Most Active, Most Populous Region ‘Has an Outsize Role’

Recently, Messari Crypto Researcher, Mira Christanto published a report that looks into Asia’s cryptocurrency landscape in-depth, as 60% of the world’s population resides in the region. Christanto’s study shows that six out of the top ten largest cryptocurrency unicorns are located in Asia. Moreover, 98% of ethereum-based futures and 94% of bitcoin futures volumes stem from Asia. Asia’s Financial Landscape Is Ripe for Disruption When it comes to cryptocurrencies, Asia accounts for a huge number of crypto users, companies, miners, traders, and more. The cryptocurrency and blockchain researcher from messari.io , Mira Christanto , explains that Asia has a “history of dictators, currency depreciation, [and] capital controls – all ripe for disruption.” This has likely led to Asia being the most active cryptocurrency markets, according to Christanto’s recent findings. Her recently published study called “ Asia’s Crypto Landscape ” covers the “key exchanges, funds, and market makers that...
Post a Comment
Read more

JPMorgan Says Investors Can Put 1% of Their Portfolios in Bitcoin Despite Calling It a Poor Hedge

After saying that cryptocurrencies “rank as the poorest hedge for major drawdowns in equities, with questionable diversification benefits,” JPMorgan says investors can put 1% of their portfolios in cryptocurrencies. This can help “achieve any efficiency gain in the overall risk-adjusted returns of the portfolio,” the firm’s strategists explained. Investors Can Allocate 1% of Portfolios to Bitcoin, Says JPMorgan JPMorgan Chase now sees benefits in adding a small percentage of bitcoin to a multi-asset portfolio. The firm’s global head of research, Joyce Chang, and vice president of strategic research, Amy Ho, wrote in a note to clients Wednesday: In a multi-asset portfolio, investors can likely add up to 1% of their allocation to cryptocurrencies in order to achieve any efficiency gain in the overall risk-adjusted returns of the portfolio. However, the strategists clarified: “Cryptocurrencies are investment vehicles and not funding currencies. So when looking to hedge a macro even...
Post a Comment
Read more

Inverse Finance seizes tokens, ships code: Launches stablecoin lending protocol

One of DeFi's strangest experiments continues to push the envelope in both governance and architecture. Shortly after culling its community of inactive members, one of decentralized finance’s (DeFi) strangest experiments is launching a new stablecoin lending product. On Wednesday Inverse Finance revealed the Anchor Protocol, a money market built around DOLA, a protocol-native synthetic stablecoin. Based on “a modified fork of Compound,” in a blog post Inverse Finance founder Nour Haridy compares Anchor to Synthetix, which issues credit in the form of synthetic assets back by overleveraged collateral, and Compound, which issues credit in the form of crypto asset loans also backed by overleveraged collateral. Ultimately, Haridy sees these models as providing the same utility . “Lending and synthetic protocols both offer the same service: credit. Anchor brings the gap between them by combining them into a unified borrowing protocol.” Anchor aims to accomplish this with a uniqu...
Post a Comment
Read more

Harvard Professor Kenneth Rogoff Warns Central Banks Will Never Allow Bitcoin to Go Mainstream

Harvard Professor of Economics and former chief economist at the International Monetary Fund (IMF) Kenneth Rogoff says that central banks won’t allow bitcoin and other cryptocurrencies to become mainstream. “Eventually over the long course of history, the government first regulates and then it appropriates, and I think we can see that happening here,” he warned. Harvard Professor’s Warning About Bitcoin American economist Kenneth Rogoff shared his views on the future of bitcoin, its regulation, and the recent bull run in an interview with CNBC TV18 last week. Rogoff is the Thomas D. Cabot Professor of Public Policy and a professor of economics at Harvard University. He also served as chief economist at the International Monetary Fund (IMF) from 2001–2003. “Zero interest rates can produce a lot of funny asset valuations. So that is certainly part of it,” he responded to a question about the rise in popularity of bitcoin and its recent bull run. “Clearly, there are a lot of wealthy p...
Post a Comment
Read more

3 reasons why Reef Finance, Bridge Mutual and Morpheus Network are rallying

Strong fundamentals and new partnerships back the strong rallies in Morpheus Network, Bridge Mutual and Reef Finance. As new institutional and retail investors enter the cryptocurrency space on a daily basis, large-cap top performers like Bitcoin ( BTC ) and Ether ( ETH ) attract the lion's share of investor's attention as they are the well-known 'secure' blockchain projects.  Once these new investors get a taste of the mainstay cryptocurrencies and how to navigate the volatile markets, their attention soon turns to smaller cap coins as they search for the up-and-coming projects that could be the next big thing. Currently, CoinMarketCap shows that there are 8,475 tokens and more are added daily. This makes it difficult to keep up with the latest developments and find solid projects with real-world potential. With that in mind, here are some interesting projects that have been gaining strength over the past few weeks.  MRPH/USDT Morpheus Network (MRPH) is a bloc...
Post a Comment
Read more

Institutional Investors Pile Into Crypto Exchange-Traded Products: Managed Assets Rise to $44 Billion This Month

The total assets under management across all crypto exchange-traded products (ETPs) worldwide have risen 50% this month to nearly $44 billion. Among listed products, Grayscale’s bitcoin trust tops the list with the most assets under management while Bitwise’s fund was the best performing bitcoin product by market price over the last 30 days. Cryptocompare published its “Digital Asset Management Review” for the month of February on Friday. The report states that the total assets under management (AUM) across all exchange-traded products (ETPs) increased 50% to $43.9 billion from mid-January to Feb. 23. The price of bitcoin was above $50K on Feb. 23. It has since fallen to $46,876 at the time of writing, based on data from markets.Bitcoin.com. The crypto exchange-traded product with the most AUM was Grayscale Bitcoin Trust (GBTC) with $35 billion in assets under management, according to the report. As of Feb. 26, GBTC’s AUM has dropped to $30.72 billion due to the lower BTC p...
Post a Comment
Read more

Bitcoin plunges, Ethereum suffers, Musk loses billions: Hodler’s Digest, Feb. 21–27

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 Week Increasing stock market volatility drags Bitcoin and altcoin prices lower Bitcoin has had an exceptionally trying week, and it doesnt bode well for March a month thats traditionally bearish for the worlds biggest cryptocurrency. After hitting record highs of $58,300 last Sunday, Bitcoin suffered a dramatic reversal of fortunes crashing to $46,000 on Tuesday. Elon Musk might not have helped matters in the run-up to the correction, he had tweeted that BTC and ETH seemed high. Analysts and investors alike breathed a sigh of relief on Wednesday when Bitcoin managed to retake $50,000 with some proclaiming that the asset had undergone a healthy correction. But this narrative proved shaky when BTC pl...
Post a Comment
Read more

This bullish Bitcoin options strategy lets traders speculate on BTC price with less risk

Hate being liquidated? Here’s how traders use the Long Butterfly options strategy to generate profits with less downside risk. Historical data shows that it is nearly impossible to consistently predict Bitcoin’s price action and many traders that attempt this end up losing money. Now that Bitcoin trades near $50,000, the ultimate goal for most traders is to hold on to their current holdings and incrementally add to them in a way that is not terribly risky.  Options strategies provide excellent opportunities for traders who have a fixed-range target for an asset. For example, using leveraged futures contracts might be a solution for a scenario where one expects a price increase of up to 28% over the next month. Of course, using a tight stop loss lessens the viability of the trade. On the other hand, using multiple call (buy) options can create a strategy that allows gains that are four times higher than the potential loss. These can be used in both bullish and bearish circumstan...
Post a Comment
Read more

Transaction batching protocol Furucombo suffers $14 million “evil contract” hack

The latest attack relied on user permissions granted to the protocol The latest “evil contract” exploit has netted an attacker over $14 million in stolen funds.  Furucombo, a tool designed to help users “batch” transactions and interactions with multiple protocols at once, fell victim to the attack which centered on token approvals from users. The attacker’s address currently has $14 million is various cryptocurrencies, but the attack appears to be larger as they have been transferring ETH to privacy mixer Tornado Cash in batches over the last hour. This attack is conceptually similar to the $20 million “evil jar” attack that struck Pickle Finance last year, as well as the $37 million “evil spell” exploit that hit Alpha Finance earlier this month. In these “evil contract” exploits, an attacker creates a contract that fools a protocol into believing it belongs there, giving them access to protocol funds. So what happened to Furuсombo An attacker using a fake contract mad...
Post a Comment
Read more

Economist warns of dystopia if ‘Bitcoin Aristocrats’ become reality

Critics of the digital currency have visions of the future every bit as silly as maximalists'. Not everyone is excited about hyperbitcoinization.  According to a popular copy/paste meme, Bitcoin holders are set to become a neo-aristocracy as Bitcoin becomes the dominant world currency: Only $BTC holders will be permitted to the upper echelons of society. Nocoiners will be shunned, socially and financially. At best forced to become servants to the new upper class. At worst executed for crimes against the #Bitcoin empire. — The Crypto Dog (@TheCryptoDog) January 2, 2021 The meme is part of a larger vision for Bitcoin’s future, a semi-serious but mostly tongue-in-cheek narrative that can be lumped under the “Bitcoin Citadels” umbrella: a vision of the future in which Bitcoin becomes so valuable that hodlers become lords quite literally defending their coins in castles.  Originating from a Reddit post written by someone claiming to be a time traveler (they called for a...
Post a Comment
Read more

6 Questions for Kain Warwick of Synthetix

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 Kain Warwick, the founder of Synthetix. Kain Warwick is the founder of Synthetix, a derivatives liquidity protocol on Ethereum. Synthetix has processed billions of dollars in trading volume. Warwick previously founded Blueshyft, Australia’s largest cryptocurrency payment gateway.   1 Whats a problem you think blockchain has a chance to solve but that hasnt been attempted yet? I might just still be a 2017 idiot here, but I still feel equity settlement, having a decentralized ledger for equity settlement, is a sensible thing that will happen. But it can’t happen until regulators are comfortable with it happening, etc. The efficiencies it will add are just too obvious to be avoided. There are certain things that come with that, that mean it’s gonna take a while before we se...
Post a Comment
Read more

Here are 6 DEX tokens that have seen exponential growth in 2021

These DEX tokens are quietly accruing triple-digit gains as the total value locked in DeFi reaches new highs each week. DeFi has steadily grown in prominence over the past year thanks in large part to the strong foundations established by decentralized exchanges (DEX) that enable easy access to the latest tokens and projects.  While there have been previous iterations of DEX user interfaces, such as IDEX or Etherdelta, it wasn’t until Uniswap launched that trading in the DeFi network really took off and facilitated the launch of the finance tokens. Here are six of the top-performing tokens in the decentralized finance sector. UNI/USDT Uniswap has risen from the humble beginnings of a simple user interface that allowed for a token swap between two ERC-20 tokens, to a rapidly evolving DeFi centerpiece that now sees an average daily trading volume of $1 billion and $3.95 billion worth of liquidity locked on the protocol. Uniswap liquidity and 24-hour volume. Source: Uniswap ...
Post a Comment
Read more

The $282 Million Awakenings: 120 Bitcoin Block Rewards from 2010 and 2011 Woke Up This Year

On February 25, onchain analysts noticed two 2010 block rewards that were transferred after sitting dormant for over a decade. A lot of old blocks have been spent in 2021, and after the large strings of 2010 block rewards spent on January 3rd and 10th, another massive string of 20 block rewards from 2010 were moved on the 25th. In addition to these old bitcoin moves, block rewards from 2011 have started to wake in great numbers as well. 80 Block Rewards from 2010 Spent This Year, 4,000 Bitcoin Worth $188 Million For a good portion of 2020 and into 2021, news.Bitcoin.com and a small group of onchain researchers have been combing the Bitcoin ( BTC ) network for old-school spends. The technical term “spend” or “spent” simply means the bitcoins moved from one address to another single address or group of addresses. It doesn’t necessarily mean the person has relinquished ownership of the bitcoins, but most of our 2020 and 2021 discoveries look as though they have been sold on exchanges....
Post a Comment
Read more