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Showing posts from March 21, 2021

Another Binance Smart Chain Project Turtledex Rug Pulls With Tokens Worth $2.5M Confirmed Stolen

The team behind Turtledex protocol, a Binance Smart Chain (BSC) project has reportedly rug pulled its investors shortly after raising 9,000 Binance tokens worth $2.5 million. Immediately following the confirmation of the theft, the value of the protocol’s native token TTDX, reportedly plunged to near zero. At the time of writing, the social media accounts associated with the protocol appear to have been deleted. The Rug Pull As one report explains, Turtledex, which touted itself as a decentralized storage platform for users, successfully duped users by claiming it could help them “keep data and preserve files without needing to keep them on their computer.” These claims initially helped the Turtledex team to raise funds via the pre-sale round “in just two hours on Monday 15th.” Next, the team would follow up this successful fundraising round by “opening their liquidity pools on two major BSC Decentralized exchanges (DEXs): Pancakeswap and Apeswap.” The native tokens, TTDX, “were u...

MoonCats users are voting to destroy the keys to its final 160 'Genesis' tokens

The MoonCats community are worried its final 160 "Genesis" collectibles will all be accumulated by bots, with more than 70% voting to destroy the tokens' private keys. MoonCats, the long-dormant tokenized collectibles platform that was re-discovered earlier this month, now has a problem on its hands — trading bots. MoonCats collectibles depict 8-bit cats that live on the moon that can be traded or "adopted" by users. The project was launched on Aug. 9, 2017 by developer Ponderware, with a hard limit of 25,500 MoonCats set to be created through a process similar to Ethereum mining. However, the MoonCats community is now fearing the upcoming release of the final 160 Genesis cats may be hijacked by trading bots, with users complaining that Mooncats has become overrun by bots programmed to accumulate new cats the moment they can be purchased. MoonCats was rediscovered earlier this month amid the booming growth of the NFT industry . When collectors recently beca...

Combined DEX liquidity tags new all-time high of $10 billion

Uniswap’s dominance over the Ethereum DEX sector continues to grow, with the exchange representing more than half of the sector’s combined weekly volume. The amount of collateral on decentralized exchanges is nearing a milestone high of $10 billion, with Uniswap still sitting at the top of the heap. Volumes and liquidity on decentralized exchanges have surged in 2021, with collateral approaching a milestone high of $10 billion, according to research by Messari . Researcher Rahul Rai noted that DEX volumes for February soared to a record $72 billion. Dappradar reports that Uniswap has over half of the total liquidity locked up in DEXes with a TVL of $5.4 billion. Rai added that despite their success, automated market makers face their own set of challenges: “A number of inherent problems such as impermanent loss (IL), capital efficiency, slippage, gas costs, speed, and multi-token exposure are holding them back.” According to Dune Analytics , Uniswap’s dominance over the Ethereu...

Scaramucci’s Skybridge Capital Registers With SEC to Launch a Bitcoin ETF

Anthony Scaramucci’s Skybridge Capital has filed an S-1 registration form with the Securities and Exchange Commission (SEC) for a bitcoin exchange-traded fund (ETF). The prospectus for the “First Trust Skybridge Bitcoin ETF Trust” notes that the ETF aims to list common shares on NYSE Arca. Skybridge Capital Files to List a Bitcoin ETF Skybridge Capital and its founder Anthony Scaramucci have been all about bitcoin (BTC) these days and even more so after the company’s successful launch of the Skybridge Capital Bitcoin Fund. At the end of February, Scaramucci said in an interview that he expects $100k BTC prices this year. On March 19, 2021, Skybridge Capital filed an S-1 registration prospectus for a bitcoin exchange-traded fund (ETF). Skybridge Capital will be among a number of firms such as Vaneck and Valkyrie Digital Assets looking to get their ETFs approved. The S-1 registration filed on Friday notes that the ETF will be dubbed the “First Trust Skybridge Bitcoin ETF Trust” b...

Long-term investors continue to hodl despite $1T Bitcoin market cap

Only 36% of Bitcoin’s supply has moved in the last 6 months, down from 50% during last bull season Bitcoin’s liquid supply continues to shrink, with only 36% of circulating BTC being moved on-chain in the past six months. According to data shared by on-chain crypto data aggregator Glassnode on March 21, the peak of the 2017 bull market saw 50% of Bitcoin’s supply circulating within the preceeding six months. In bull markets old coins tend to move more. This increases the relative supply of younger coins in the network. At previous $BTC tops, around 50% of the #Bitcoin supply was younger than 6 months. We are currently significantly below this level (36%). https://t.co/D40RJ5FlAA pic.twitter.com/OIOnnChpk0 — glassnode (@glassnode) March 21, 2021 The data shows that few long-term investors are tempted to sell their Bitcoin at current price levels, suggesting Bitcoin’s whales are hodling for higher prices and the current bull-trend could have much further to go. Comparing ...

Bitcoin mining stocks have outperformed BTC by 455% over the past 12 months

While Bitcoin is up 900% in the last 12 months, shares in the four largest publicly-traded mining firms are up 5,000% over the same period. Despite the top publicly-listed Bitcoin mining firms operating at losses, their share prices have dramatically outperformed BTC over the past 12 months. Appearing on CNBC, Fundstrat’s vice president of digital asset strategy, Leeor Shimron, shared his analysis into the market performance of the four-largest publicly-traded mining firms — Marathon Digital Holdings, Riot Blockchain, Hive Blockchain, and Hut 8, each of which represent a market cap of more than $1 billion. Over the past 12 months, Shimron found the average return for shares in the mining firms to have been 5,000%, while BTC has gained 900% over the same period. Unsurprisingly, the stocks were found to have a “high positive correlation” with BTC. The researcher concluded that for every 1% price move in BTC, Bitcoin mining shares move by 2.5% on average. However, the observation ap...

Deutsche Bank: Bitcoin Now 3rd Largest Currency, Too Important to Ignore

Deutsche Bank has published a report stating that bitcoin is too important to ignore, noting that it is now the third-largest currency in terms of the total value in circulation. In addition, the bank says that governments and central banks know that cryptocurrencies are here to stay and are expected to start regulating the industry this year. Bitcoin Is Too Important to Ignore Deutsche Bank Research published a report last week entitled: “Bitcoins: Can the Tinkerbell Effect Become a Self-Fulfilling Prophecy?” It is part three of “The Future of Payments: Series 2.” The report author, research analyst Marion Laboure, Ph.D., wrote: Bitcoin’s market cap of $1 trillion makes it too important to ignore. As long as asset managers and companies continue to enter the market, bitcoin prices could continue to rise. At the time of writing, the price of bitcoin stands at $57,455 and the cryptocurrency’s market cap is approximately $1.07 trillion based on data from markets.Bitcoin.com. The ...

China social media star Bart Baker to drop 8 NFTs with DeFine Art

NFT mania is reaching Asia as one of the region's most popular social media influencers is set to tokenize a series of videos. Baker, who has around 24 million followers across multiple Chinese social media platforms, will auction eight unique NFTs as part of the collaboration. One of the NFTs, called The Bart Baker Experience, will allow the winner of the auction to make a video with Baker that will be circulated on social media and minted into an NFT. The other seven auctions will be of Baker’s most popular videos minted in NFT format. Commenting on his collaboration with DeFine Art and the growth of NFTs, Baker said: “NFTs are gaining massive adoption in western markets, but have not yet gained meaningful traction in Asia. With this NFT drop in partnership with DeFine Art, not only do I want to change that, but also do it in an innovative way by launching the first video in NFT form.” DeFine commented: “The partnership with prominent Asia influencer Bart Baker could be the...

Bridgewater’s Ray Dalio Warns Government Could Restrict Bitcoin Investments, Impose ‘Shocking’ Taxes

The founder and chief investment officer of Bridgewater Associates, the world’s largest hedge fund firm, has warned that the government could “impose prohibitions against capital movements” into assets such as bitcoin. He added that regulators may also impose changes in taxes that “could be more shocking than expected.” Ray Dalio Warns About Government Prohibitions and Taxes Ray Dalio, founder and chief investment officer of Bridgewater Associates, wrote a post on Linkedin last week entitled: “Why in the World Would You Own Bonds When…” He pointed out that the bond markets currently offer “ridiculously low yields,” which “do not meet these asset holders’ funding needs.” The executive wrote, “There is now over $75 trillion of US debt assets of varying maturities,” adding that their holders will at some point want to sell them to get cash to buy goods and services with. However, Bridgewater’s chief investment officer estimates that “at current valuations, there is way too much money...

Top 5 cryptocurrencies to watch this week: BTC, UNI, LUNA, THETA, FIL

If bulls can propel Bitcoin to a new all-time high, UNI, LUNA, THETA and FIL are likely to outperform their competitors. Bitcoin ( BTC ) has been facing stiff resistance near the $60,000 level for the past few days. This suggests that market participants are cautious at these levels and a positive trigger may be needed to drive the price higher and start the next leg of the uptrend. One of the developments that could be bullish for Bitcoin is that Brazil followed in the footsteps of Canada and gave the green light for the launch of a Bitcoin exchange-traded fund. The ETF will be managed by QR Asset Management and is expected to start trading in Q2 2021. The Bitcoin ETFs launched by various countries are likely to put pressure on the U.S. Securities and Exchange Commission to approve a Bitcoin ETF because if they do not do that, institutional investors may use the alternatives available in neighboring countries. Crypto market data daily view. Source: Coin360 Although...

FBI Arrests 6 Free Keene Members Operating Cryptocurrency Exchange

Six people involved with the Free Keene movement have been arrested and charged for allegedly operating an illegal cryptocurrency exchange business. “They operated their virtual currency exchange business using websites, as well as operating virtual currency ATM machines in New Hampshire,” the U.S. Department of Justice (DOJ) said. FBI Raids Properties and Charges 6 People The DOJ announced this week that it has charged six New Hampshire residents with crimes related to a cryptocurrency exchange business. The Federal Bureau of Investigation (FBI) raided several Keene properties associated with members of the liberty-minded Free Keene movement on Tuesday and arrested the six defendants. The individuals charged are Ian Freeman (formerly Ian Bernard), 40, of Keene; Colleen Fordham, 60, of Alstead; Renee Spinella, 23, of Derry; Andrew Spinella, 35, of Derry; Nobody (formerly Richard Paul), 52, of Keene; and Aria DiMezzo (formerly James Baker), 34, of Keene. DiMezzo is the self-describe...

Nigeria's central bank not discouraging people from trading crypto, says governor

The governor of the Central Bank of Nigeria has seemingly softened his stance on crypto for individuals, if not banks. Godwin Emefiele, governor of Nigeria’s central bank which previously banned banks from servicing crypto exchanges, has reportedly clarified the bank’s position on the use of cryptocurrencies in the country. According to local news outlet TodayNG, Central Bank of Nigeria, or CBN, deputy governor Adamu Lamtek said on behalf of Emefiele that the bank had not banned Nigerian residents from buying, trading, or selling crypto, but “[protected] the banking sector from the activities of cryptocurrencies.” Lamtek spoke at a seminar for the Finance Correspondents and Business Editors in the capital, Abuja. “The CBN did not place restrictions from use of cryptocurrencies and we are not discouraging people from trading in it,” said Emefiele. “What we have just done was to prohibit transactions on cryptocurrencies in the banking sector.” The statement follows the CBN announci...

SelfKey (KEY) gains 450% after DeFi pivot and data management upgrades

The rollout of new identity management platforms and a pivot toward DeFi appear to have triggered a 450% in the price of SelfKey. Data has become one of the most valuable resources on the planet and its analysis, collection and monetization have helped companies like Google and Facebook achieve blue-chip status in the eyes of investors. With monetization comes risk and privacy protection is one of the biggest challenges companies and data producers face. One cryptocurrency project that focuses on helping individuals and companies manage personal data is SelfKey (KEY), a blockchain-based identity platform that seeks to revolutionize the KYC process and embody the ethos of Self-Sovereign Identity. Data from Cointelegraph Markets and Tradingview shows that the price of KEY has vaulted 470% over the past month, climbing from a low of $0.00495 on Feb. 17 to a high of $0.0283 on March 20 as trading volume surged 450% in 24 hours. KEY/USDT 4-hour chart. Source: TradingView As ...

Fire Protocol to List FIRE on BitMax

PRESS RELEASE. BitMax.io (BTMX.com), an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of Fire Tokens (FIRE) under the trading pair of FIRE/USDT on March 19th at 9:00 a.m. EDT. Fire Protocol is the first infrastructure project built based on the Huobi Eco Chain (HECO). Fire Protocol seeks to build more comprehensive functionality and use cases than other DeFi projects in the marketplace by combining various components on one platform. In the future, Fire Protocol will also be supporting Cross-chain functionalities to bridge assets between various blockchains such as Polkadot and BSC. The native token of Fire Protocol, FIRE, is a governance token, used to power the economic incentive mechanisms, support community proposals, and voting. Fire Protocol’s key products include Fireswap, a fast and secure trading service and Liquidity Mining feature, Cross Chain Wrapping solutions to bring non-Huobi Chain assets in...

Opioid Premiums, Jobseekers and Vaccines: Covid-19 Fuels Darknet Markets in a Different Way

The impact of the Covid-19 pandemic has found its way onto the deep web and during the last few months, researchers have found a great number of individuals turning to darknet markets (DNMs) for employment. The organization Check Point Research has recorded a rising trend of people looking for jobs on hacking forums and DNMs. Additionally, alleged versions of the coronavirus vaccines from the top manufacturers are being sold on DNMs alongside vaccination records. Mass Darknet Market Closures in 2020 Invoked Opioid Product Premiums In 2020, a great number of darknet markets (DNMs) went dark by either voluntarily closing, exit scamming, or getting busted by global law enforcement. Despite the loss of many DNMs, the vast amount of spontaneous underground markets saw record revenues in 2020. However, the numerous amounts of DNMs disappearing have led to an increased demand for opioids. A new report from the Australian National University (ANU) shows that the effects of global law enfo...

Actionists reinventing art: As it ever was, so shall it ever be (even in crypto)

Tokenizing art could make paintings a more liquid vehicle for investment, engaging people who don’t have access to the high-end art market. Art trumps money. Always. It is important to remember this amid the current crypto art hype. Nonfungible tokens have given digital art the benefit of provable ownership, scarcity and programmability, allowing digital creators to promote and sell their work in ways never before possible. With the blockchain industry growing and markets becoming more liquid, crypto art has seen a flurry of incredible primary market sales. The ICO-like fear of missing out has inspired collectors and artists to chase scarcity, and even destroy art in the process, as was the case with the creation and auction of the Banksy print NFT . Still, what may seem like a marketing ploy may be one of the greatest actionist performances the art world has seen to date. Chasing scarcity The rarer something is, the more it is coveted. That seems to be the basic principle of any...