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Showing posts from March 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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Investor 'stumbles' into 30,000% gain after buying Beeple NFT for $969

An investor who purchased an NFT from popular digital artist Beeple for $969 initially hoped to double their investment within two years. The NFT is now worth $300,000. Edward Fairchild, one of the founders of LA-based cannabis company THC Design, revealed that he "stumbled" into buying an NFT from acclaimed digital artist "Beeple" that has since increased in value by 30,000% since he purchased it in December. Recounting the story in an article published by  Business Insider  on March 14, Fairchild noted that despite being a long-time fan of Beeple, he didn't have any knowledge about NFTs and had little faith that anybody would want to collect tokenized art at the time of the purchase. “I had no idea what an NFT was and I'd never heard of Nifty Gateway [...] I really didn't see the point,” he said, adding:  “I had no idea that spending $969 on a work of art would, within three months, turn into an asset valued around $300,000” Fairchild recalls stu...
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Alameda Research invests $2M into crypto market maker Efficient Frontier

Alameda Research has invested $2 million in a Tel-Aviv-based market maker claiming to process nearly $10 billion in volume monthly across 50 crypto exchanges. The news was announced by Efficient Frontier on March 15, with the company stating the funding will be used to “expand its balance sheet” and build its position within the crypto asset sector. Efficient Frontier chief executive, Roei Levav, stated: Sam Bankman-Fried ’s Alameda Research has invested $2 million in Tel-Aviv-based algorithmic crypto market maker, Efficient Frontier. “This funding, coming from such a strong team, is humbling and will help us to further improve our value proposition to our partners.” “Efficient Frontier is one of the most advanced trading companies in our space,” said Alameda’s co-founder and CEO, Sam Bankman-Fried. “We have been working together since the early days and their team, technology, and outlook on the industry is what made us so excited to join their ride.” Efficient Frontier is a...
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New EIP hopes to quell tensions between Ethereum’s miners and developers

A new Ethereum Improvement Proposal could offer a path to compromise between Ethereum’s miners and developers, but few in the community appear to support the EIP. A new Ethereum Improvement Proposal, or EIP, has emerged amid opposition from miners to scheduled changes to the network’s fee market. While some are looking to the proposal as a means to cool flaring tensions between Ethereum’s miners and developers, the EIP appears to have secured little support from the community. In recent weeks, tensions have escalated over EIP-1559 — an upgrade slated for integration in July that is expected to discipline Ethereum’s volatile fee market while significantly impacting miner revenues. The new proposal, EIP-3368 , advocates that block rewards immediately be increased to 3 Ether and then reduced to 1 Ether over the two years following 1559’s implementation to ease the impact of Ethereum’s transition to Proof-of-Stake on miners. On March 13, Ethereum developer Tim Beiko took to Twitter t...
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NFT auction celebrating NFL star Rob Gronkowski drives $1.8M in sales

NFL star Rob Gronkowski’s debut NFT drop generated more than $1.8 million in primary sales on OpenSea. NFL star Rob Gronkowski’s NFT drop has generated more than $1.8 million in primary sales on NFT market OpenSea . The Rob Gronkowski Championship Series NFT Collection includes five different tokenized cards depicting in-game action shots of the player during championship-winning games. The championship series consists of five unique collectibles, including a single one-of-a-kind token, and four NFTs of which 87 copies each were  minted and auctioned from March 11 until March 13. The auction’s terms notably stipulated that any bids made in the last 10 minutes extended each auction by another 10 minutes. The one-of-one “GRONK Career Highlight Refractor Card” is a collage of the four illustrations comprising the other tokens in the collection, and is digitally signed by Gronkowski. The token ’s purchaser will receive the opportunity to meet the star, in addition to two tickets...
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A Variety of Popular Celebrities Are Selling NFT Collections and Raking in Millions

In 2021, celebrities have been flocking to the cryptocurrency space in great numbers, and the non-fungible token (NFT) asset craze has swelled with luminaries as well. During the last few weeks, musicians, artists, professional sports players, and more have dipped their toes into the NFT ecosystem. Celebs Have Noticed the NFT Hype and Want In Data from nonfungible.com ’s market history shows that there’s been 27,850 non-fungible token (NFT) asset sales in the last seven days. The 27,850 sales had settled for $42 million and the average price per NFT sale was $1,520 using March 14, 2021 stats. Now nearly every single day, there’s a new NFT milestone sale, a new celebrity creating an NFT, and a myriad of new NFT markets. The NFT hype also comes with significant controversy as well due to how these pictures, music files, and other types of collectibles are stored. In March, the NFT hoopla has spurred a decent number of celebrities to drop their own non-fungible token assets. For inst...
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BTC was best-performing asset of past decade by 900%

Bitcoin’s annualized returns have eclipsed all other asset classes by a big margin. Over the past ten years, Bitcoin has beaten out all over asset classes by at least a factor of 10. The milestone was noted by Compound Capital Advisors’ CEO and founder, Charlie Bilello, who compiled the performances of the top asset classes using data from Ycharts. Responding to the findings, Messari researcher Roberto Talamas highlighted that Bitcoin has produced an annualized return of 230% on average — more than 10 times higher than the second-ranked asset class. Asset Class Returns over the Last 10 Years... Data via @ycharts pic.twitter.com/yRvdkIX1BV — Charlie Bilello (@charliebilello) March 13, 2021 The U.S. Nasdaq 100 Index ranked second with an annualized return of 20%, followed by U.S. Large Caps — shares in U.S.-based companies with market caps exceeding $10 billion — with an average annual performance of 14%. U.S. Small Cap stocks were the only other asset class to post double-d...
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Fund Manager Warns Bitcoin Is Pointless and ‘a Particularly Vile Asset Class’

Tim Bond, a portfolio manager at Odey Asset Management, has warned that bitcoin is pointless, calling the cryptocurrency “a particularly vile asset class.” He claims that bitcoin has no real social utility other than as a tool for speculation and a means to launder the proceeds of crime. Fund Manager Sees Bitcoin as a Vile Asset Class Tim Bond, a partner and portfolio manager at Odey Asset Management, warned about bitcoin in a recent interview with Marketwatch. Established in 1991 by billionaire Crispin Odey, the firm currently has over $3 billion in funds under management. Before joining Odey Asset Management in 2010, Bond spent 12 years at Barclays Capital as managing director and head of global asset allocation. He previously worked at Moore Capital as a portfolio strategist and spent 10 years as a strategist and trader for Tokai Bank Europe. As the price of bitcoin hit all-time highs several times this month, Bond was quoted as saying: To my mind, bitcoin is a particularly v...
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Supply chain tokens see triple-digit gains as the global economy recovers

Supply chain projects like OriginTrail, Waltonchain and Wabi have rallied in excess of 250% as blockchain interoperability comes into focus. Over the last few weeks, blockchain projects focused on supply chains and logistics have seen tremendous growth as the coronavirus-induced economic gridlock begins to loosen and future concerns related to the global pandemic subside. Three logistics projects that have benefited from the improving economic outlook are OriginTrail (TRAC), Waltonchain (WTC) and Wabi (WABI). Since early February, each has seen its token price increase by up to 300%. TRAC/USD vs. WTC/USD vs. WABI/USD 1-day chart. Source: TradingView TRAC/USD OriginTrail is a self-described “ecosystem dedicated to making global supply chains work together by enabling a universal, collaborative and trusted data exchange.” The project was established in 2011 with the goal of providing enterprise users with the ability to streamline their supply chains with added data protection ...
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Elon Musk Wants Coinbase to List Dogecoin as the Cryptocurrency’s Adoption Grows

Spacex and Tesla CEO Elon Musk has once again tweeted in support of dogecoin. He wants the crypto exchange Coinbase to list the cryptocurrency and says he will get a Shiba Inu, the dog breed featured as the face of dogecoin. Meanwhile, the coin’s adoption is growing, advocated by celebrities like Mark Cuban. Elon Musk Wants Coinbase to List Dogecoin Elon Musk wants cryptocurrency exchange Coinbase to add dogecoin to its list of supported cryptocurrencies. A question was directed at Musk on Friday on Twitter about Coinbase listing dogecoin. The user wrote: “Hi Elon, I saw a report that Coinbase was used for the Tesla BTC purchase (nice entry btw). Do you think Coinbase should enable dogecoin on their platform? It would enable many folks to easily access DOGE.” The Spacex CEO simply answered: “Yes” with an exclamation mark. Coinbase currently does not support dogecoin, a meme coin featuring a Shiba Inu. The crypto exchange is set to go public via a direct listing on Nasdaq. Its v...
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Reported volume of top South Korean crypto exchanges surpasses that of the country's stock market

The increase in volume came as the price of Bitcoin rose to a new all-time high of more than $61,000 Saturday. The volume of transactions in the South Korean digital currency market briefly exceeded the daily average transaction amount of the country’s stock market on Sunday. According to data from CoinMarketCap, the combined 24-hour volume of major South Korea-based crypto exchanges UPbit, Bithumb, Coinone, and Korbit was more than $14.6 billion on Sunday. On Friday, the same metric was roughly $14.5 billion on the Korea Composite Stock Price Index, or KOSPI, and $10 billion on the Korean Securities Dealers Automated Quotations, or KOSDAQ. The increase in volume came as the price of Bitcoin ( BTC ) rose to a new all-time high of more than $61,000 Saturday before dipping under $60,000 again. It should be noted that trade volumes appearing on CoinMarketCap are not always believed to be accurate due to the prevalence of volume inflation. CoinMarketCap has introduced several init...
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French Lawmaker Signs Petition to Allow Central Bank to Buy and Hold Bitcoin

A French parliament member has signed a petition to amend the laws to enable the central bank of France to buy and hold bitcoin as well as other cryptocurrencies. The petition urges lawmakers to urgently consider the matter, warning that not owning bitcoin will put France “in a financially weak position within 5-10 years.” Petition to Allow Central Bank to Buy Bitcoin Jean-Michel Mis, a member of the French National Assembly, the lower house of parliament, announced in a tweet Friday that he has signed a petition to amend the laws to enable the Banque de France, the country’s central bank, to buy and hold bitcoin, as well as other cryptocurrencies. The petition residing on the French Senate’s e-petitions platform was started on March 5 by François-Xavier Marie Jean Elder Thoorens; it can be signed until Sept. 5. Petitions with at least 100,000 signatures within six months are forwarded to the Conference of Presidents, which will decide whether to follow up on the matter. At the tim...
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Top 5 cryptocurrencies to watch this week: BTC, ETH, VET, XMR, FTT

If Bitcoin can hold $58,000 as support, altcoins like ETH, VET, XMR and FTT may resume their uptrend and hit new highs this week. Bitcoin ( BTC ) has risen more than 1,000% since March 2020 and this shows that the digital asset has outperformed traditional asset classes like equities, commodities and bonds by a massive margin. The resilience of Bitcoin even after the sharp rally continues to attract buyers. Jarvis Labs analyst Ben Lilly said the whales who hold between 100 to 1,000 Bitcoin have added about 63,000 Bitcoin in their combined holdings since Feb. 28. The activities of this group of whales are worth monitoring because Lilly said “this class of wallets were the ones that timed the 2017 rally the best.” Crypto market data daily view. Source: Coin360 In addition to the whales, Bitcoin adoption by companies also continues to increase. RushOrderTees, a t-shirt printing and embroidering company, recently  revealed it had purchased roughly $300,000 worth of Bitcoin a...
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Poltergeist Exchange Partners With Ghost by McAfee to Release a Private Stable Coin and Privacy Exchange

PRESS RELEASE. Poltergeist Exchange has partnered with GHOST by McAfee to bring a private stable coin and privacy dex to the GHOST by McAfee blockchain. Poltergeist Exchange has released their native token GHOUL, and are developing and releasing a side chain with the same name for Ghost by McAfee. Side chains for GHOST will open up a variety of interaction possibilities including a full privacy dex using atomic swaps to flawlessly execute cross chain transactions, a private stabled coin, GHOSTDAI, that is pegged and backed 1:1 with DAI, and more. “When I was setting the vision for GHOST, I didn’t just see a privacy coin, but an ecosystem of products and services that really encompassed the ideas and values that I think are really important about being able to do business and send value privately.” said Josh Case, the founder of Poltergeist Exchange and Co founder of Ghost by McAfee. “Nothing can stop us from bringing these ideas to the world. And a lot of these ideas are closer t...
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Elon Musk's latest canine-themed tweet didn't pump Dogecoin as much as SHIB

The price of the Shiba Inu token rose 300% in the hours following Musk’s tweet. Though the price of Dogecoin ( DOGE ) surged over the weekend to surpass $0.06 again, this time another token based on a cuddly canine benefited from the hype around Elon Musk’s social media posts. In a Saturday night tweet, the Tesla CEO said he would be getting a Shiba Inu dog for his household. The dog — whose breed is native to Japan — was at the center of the popular meme on which Dogecoin was based in 2013. The meme features the dog looking into the camera with a seemingly confused expression as floating text represents its inner monologue. Though Musk’s tweets have likely contributed to the price of DOGE reaching an all-time high of more than $0.08 earlier this year, the token price seemingly didn’t flinch to the billionaire’s acquisition of a new family pet. The Tesla CEO may have been joking, or could also have been referring to Shiba Inu (SHIB), a different token project. According to data ...
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The Token Taxonomy Act of 2021: Preemption of inconsistent state laws

A deep analysis of the proposed definition of digital token, which is likely to be far simpler than the Howey Test. In these hyper-partisan times, any bill that includes sponsors from both sides of the aisle is noteworthy. There is one pending now that is particularly important in the crypto space. On March 8, 2021, H.R. 1628 , the Token Taxonomy Act of 2021, was introduced by representative Warren Davidson. It was co-sponsored by representatives Ted Budd, Darren Soto, Scott Perry and Josh Gottheimer. Terms of the Token Taxonomy Act of 2021 Among other provisions, the bill would exempt “digital tokens” from the definition of security, and it would also preempt inconsistent state regulation. Crypto assets would need to meet certain specified requirements in order to count as “digital tokens” under this act: First, the interest must be created either in response to the verification of proposed transactions, or pursuant to rules for creation that cannot be altered by any single pers...
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Chasing Liquidity Pools: Crypto Assets and Defi Apps Can Give Yields Up to 400% Annually

While cryptocurrency markets have been red hot and gaining in value, demand for certain assets and liquidity has grown massive. At the same time, a myriad of crypto proponents are chasing significant returns by hunting for liquidity pools with colossal yields. These days certain decentralized finance (defi) applications can give a yearly ROI upwards of 100-400% in some cases depending on the applications leveraged. Pools of Crypto Liquidity Are Growing During the last year and a half, decentralized finance (defi) has grown more robust and today there’s $46.24 billion total value locked in defi apps, according to defipulse stats . While digital currencies like bitcoin (BTC) , ethereum (ETH) , and many other crypto assets have seen significant gains, people are also getting large returns for providing liquidity. Additionally, thanks to Web3 wallets like Metamask, providing liquidity without dealing with a centralized third-party is key to decentralized finance. Last month, Bitcoin.c...
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