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Showing posts from March 23, 2021

‘Castle’ production company’s new TV crypto comedy to drop an ep as an NFT

A crypto-funded TV comedy series intends on releasing a full episode as an NFT. A scripted TV series that's about crypto — and funded by it — is in development at Beacon Pictures, the independent production company behind “Bring It On”, and popular ABC drama “Castle.” According to Deadline Hollywood , the 10 part TV crypto-comedy series “Hold on for Dear Life” — a reference of sort to the slang term 'Hodl' — aims for principal photography to shoot in Puerto Rico from August. The show, which was created by anonymous crypto insider calling themselves ‘Suhh Toshee’, will look to reflect the lives of crypto entrepreneurs, and hopefully be funded by them. Beacon CEO Mark Pennell, told Deadline that: “Crypto is about community. The show is an extension of that community. So, we embraced the innovation by creating an opportunity for crypto entrepreneurs to participate in a show that reflects many of their own stories.” The project is raising funds via crypto by tokenizing...

TimeCoin’s Off-Market Token Sale

PRESS RELEASE. The Special Token Sale of TimeCoin (TMCN) was launched on February 15th, 2021, with a 93% discount on the token’s current market value. The token was launched on November 11th, 2020 on BitForex as an IEO, at an initial price of $0.7. After the launch, the price rose to $11, and it has continued to rise. TMCN’s price hit a record high of $8,500 on February 18th, 2021 and that price was more than 12,142 times the initial price. Also, TimeCoin is listed on BitMart on March 24th, 2021 and will be listed on other exchanges near the future. The project, the TimeCoinProtocol , was initially financed by a few investors who invested around $4 million, and only a very limited number of tokens were placed on the market. Now with the Special Token Sale, the tokens will be sold on the OTC market. The project bought back most of the tokens available on the market so as not to increase the selling pressure. The tokens will also be made available for trading on other crypto ...

Tipb.ch App Allows You to Share a Short URL Rather Than a BCH Address on Social Media

On March 23, the creator of the blog platform read.cash and the social media application noise.cash revealed a new project called tipb.ch. The application allows anyone to create a customizable short address that can be used for tips rather than having to share a long BCH address on social media platforms. Platform Tipb.ch Allows You to Share a Short URL Rather Than a Long Bitcoin Cash Address The founder of the blogging platform read.cash announced a new project on Reddit this Tuesday revealing a service called tipb.ch ( https://tipb.ch ). The Reddit post led to another post on the social media application noise.cash which described what tipb.ch does. Essentially, the program allows anyone to create a short URL and tether it to a public bitcoin cash ( BCH ) address. This way, instead of having to share a long BCH to others on social media, the person can create a short address to post on Instagram, Twitter, Noise.cash, Facebook, or Read.cash. Rather than leveraging a long BC...

'No loss' lottery protocol PoolTogether among most utilized protocols in DeFi: Messari

Since launching its V3 iteration in October, PoolTogether has paid out more than $750,000 in risk-free lottery returns. Data published by crypto analytics provider Messari indicates that PoolTogether’s V3 no-risk lottery platform has amassed more than 6,000 users since launching in October. Messari asserts that PoolTogether’s user base ranks it “one of the most utilized protocols” in DeFi excluding decentralized exchanges. To date, PoolTogether's V3 has garnered over 6,000 continuous lottery players, making it one of the most utilized protocols excluding DEXs pic.twitter.com/KLK2K63pRl — Messari (@MessariCrypto) March 23, 2021 In a separate report published on March 23, Messari notes PoolTogether V3 has amassed a $134 million TVL since launching incentives for liquidity providers, ranking the platform as the 30th-largest DeFI protocol above Hegic and PieDAO. PoolTogether offers risk-free stablecoin lotteries by using ticket-buyers’ and liquidity providers' capital t...

Coinbase's Reddit AMA: ‘It’s like Amazon in the early days’

Brian Armstrong compares Coinbase to Amazon in the early days in terms of innovations that will benefit customers. The CEO of U.S. crypto exchange Coinbase Brian Armstrong has apologized for poor customer support and revealed the company could integrate with DeFi protocols in a comprehensive Ask Me Anything session on Reddit. The Reddit AMA (Ask Me Anything) posted on March 17 had amassed over a thousand questions and responses from members of the social media platform. Company CEO Brian Armstrong and CFO Alessia Haas finally got around to responding to a few of them a week later on March 23. There was also a video that accompanied the AMA, which was a first for a company going public, in which the firm chose to address the questions with the most votes, value to the community, and relevance to its upcoming listing. One of the most popular questions was from a Coinbase customer of four years regarding poor customer service with the user (Reverseengineer_24) claiming that su...

Jeff Garzik’s DeFi protocol Vesper Finance tops $1B TVL in six weeks

Within six weeks of launching, Vesper Finance, a DeFi yield platform co-founded by former Bitcoin Core developer Jeff Garzik, has amassed a $1 billion TVL. Vesper Finance, a recently launched DeFI yield suite co-founded by former Bitcoin core developer Jeff Garzik , has surpassed a TVL of $1 billion within six weeks of launching on mainnet. Garzik, also an executive of blockchain technology firm Bloq Inc, tweeted the news on March 23 while also revealing the team had open-sourced its smart contracts. Vesper’s CEO also noted the protocol’s open source transferable NFT container can be used to package, transfer and auction any amount of non-fungible tokens and ERC-20s. Another #OpenSource #Ethereum #DeFi component is our #NFT container. This is a transferable NFT, which can hold any amount of ERC20s and NFTs. It is used to package, transfer, auction a distinct, auditable financial and non-financial assets. https://t.co/VP9Y9px8us — Laird Jeff Garzik (@jgarzik) March 23, 2021 ...

Nifty News: NFT searches at ICO-mania levels, a robot and Snoop Dog drop NFTs, plus more

NFT Searches are on track to surpass the levels last seen for ICO searches in 2017, as Snoop Dog, Aston Martin, and an autonomous robot ready their own NFT drops. Interest in non-fungible tokens, or NFTs, has surged to almost the level of searches for the term 'ICO' during the 2017 bull market mania, according to data from Google Trends. With eight days left in March, the current spike in interest could even surpass interest in ICOs back then, which would be an impressive feat indeed. The Initial Coin Offering mania in 2017 was partly the cause, and partly the result, of the 2017 bull run that culminated in Bitcoin peaking just shy of $20,000. Given NFTs span gaming, music, art, virtual land — and can even represent real world objects like houses — they potentially have a much larger audience than the predominately finance and tech people who were drawn to ICOs. Search interest for NFT vs. ICO. Source: Google Trends Search interest has no doubt been sparked by the main...

Digital Yuan Won’t Be Fully Anonymous but Offers ‘Controllable’ Privacy Protection, Says Official

Privacy has been a discussion that has not gone unnoticed when it comes to the forthcoming launch of the digital yuan. The head of the People’s Bank of China-run Digital Currency Research Institute had firmly pointed out that anonymity cannot be guaranteed at all. Feature Seeks to Avoid Tax Evasion and Finance Terrorism During an interview with the Securities Times , Ma Changchun told the 2021 China Development Forum that a fully anonymous central bank digital currency (CBDC) is impossible. The reason, said the official, is that the government needs to make it compliant with the anti-money laundering (AML), know-your-customer (KYC), and counter-terrorist financing (CTF) measures. Per the official, such transactions should also be scrutinized to avoid tax evasion schemes through the upcoming Chinese CBDC, developed by the PBoC. However, Ma clarified that there would be a “controllable anonymization” technology implemented in the digital yuan. Although he didn’t explain in-depth t...

Ethereum's high gas fee crisis won't be solved by EIP-1559: Coin Metrics report

Consistently full blocks are the primary reason that gas prices have reached all-time highs. A report by analytics provider Coin Metrics has delved into the world of Ethererum transaction fees noting that they’re still at highest-ever levels and even a much touted approaching network upgrade is unlikely to alleviate the problem. According to the Ethereum Gas Report by Coin Metrics, median fees on Ethereum have been consistently over $10 for most of 2021. Comparatively, the average Ethereum transaction fee reached just $5.70 at the height of the 2017/2018 bull run. It attributed some of this increase to the increase in ETH prices themselves which will make gas more expensive. Since the beginning of 2021, ETH has surged 125% to current prices despite a correction of 19% from its all-time high of $2,050. However, over the same period, the median gas price has increased by 532%. Different types of transactions require different amounts of gas — a simple ERC-20 token transfer uses mu...

FTX set to secure naming rights to Miami NBA stadium until 2040

Cryptocurrency exchange FTX is on the brink of securing naming rights to Miami Heat’s stadium until 2040. FTX has reached an agreement with Miami-Dade County on a 19-year partnership worth $135 million, to name Miami Heat’s home stadium the FTX Arena. The cryptocurrency derivatives exchange backed by Alameda Research , is set to become the first member of the crypto industry to secure NBA naming rights, pending approval from the Miami-Dade County Board of County Commissioners on March 26. The deal marks a significant mainstream partnership for a crypto-based platform, which will see FTX tied to the Miami Heat until 2040. As part of the Miami-Dade County’s press release on March 23, FTX CEO Sam Bankman-Fried noted: “This opportunity is more than putting our name on an iconic building. It is a chance to provide value to the growing and diverse community in Miami and its surrounding cities, as well as join a championship community, a championship organization, and a championship cu...

Crypto Exchange FTX on the Verge of Winning Naming Rights for the Miami Heat’s Arena

Samuel Bankman-Fried’s FTX crypto exchange is reportedly one vote away from winning a naming-rights deal for the arena of the NBA’s Miami Heat. The deal, which is believed to be worth $135 million, is set to be approved on March 26 by the Miami-Dade County Commission. Miami-Dade to Get $5 Million a Year According to a report , as part of this agreement, the venue, which has been known as the “American Airlines Arena” for two decades, will be renamed the “FTX Arena.” In return, Miami-Dade, which controls the naming rights for the building, will receive “an undisclosed amount of yearly payments from FTX.” However, as part of the deal, Miami-Dade is expected to “pay the (Miami) Heat $2 million a year under an option the county exercised in 2018 to find the arena’s next sponsor.” While officials have not yet disclosed the net revenue to accrue to Miami-Dade, journalist Joe Pompliano tweeted the city will realize a net gain of $5 million from the deal. FTX Going Mainstream Mea...

Analysts still 'bullish on April’ despite Bitcoin price drop to $54K

Pro traders and analysts view Bitcoin’s dip below $54,000 as another bullish buy-the-dip opportunity. On March 23 bears managed to push the price of Bitcoin ( BTC ) below the $54,000 support level as various on-chain data suggests that whale wallets have begun slowing down purchases and are transferring the risk to retail investors. Data from Cointelegraph Markets and TradingView shows that the downtrend that began on March 22 and continued into Tuesday s the price retested the $54,000 support level for the second time this week. BTC/USDT 4-hour chart. Source: TradingView Data from Coinshares indicates that BTC remains the chosen asset for institutional investors while the sector as a whole continues to see significant growth as $57 billion in assets is currently being managed by institutions. The uptrend remains intact despite the recent pullback While inexperienced traders and those new to the cryptocurrency space might view the recent downturn as a sign of a beari...

Indian Government May Block IP Addresses of Crypto Exchanges

As the Indian government prepares to introduce the cryptocurrency bill, there are reports that it is considering blocking the IP addresses of cryptocurrency exchanges. Despite ban reports, many people in the Indian crypto community believe that the government will not impose an outright ban on cryptocurrencies, including bitcoin. Blocking IP Addresses of Crypto Trading Platforms The Indian government is reportedly “considering the blocking of internet protocol (IP) addresses of companies/exchanges on which trading in cryptocurrencies is happening,” Business Standard publication reported Monday, citing an unnamed “source in the know.” This measure, if implemented, will be part of the government’s efforts to impose a ban on cryptocurrencies. Indian Finance Minister Nirmala Sitharaman recently said that the cabinet note regarding cryptocurrency legislation is being finalized and will be soon submitted to the cabinet. A bill entitled “The Cryptocurrency and Regulation of Official Dig...

No-collateral lending protocol Teller opens public alpha to NFT holders

Participants of an NFT token sale will be able to use the lending protocol in its early release. Teller Finance, a project building an undercollateralized lending protocol for decentralized finance, has announced the launch of its mainnet alpha stage. This will enable certain users to obtain credit without being required to post collateral, which is the case for most other DeFi lending protocols. The Teller alpha will be accessible only to holders of a special nonfungible token, called the Fortune Teller NFT. The tokens will be sold on Thursday, with half of the proceeds of the sale going to the protocol’s liquidity pools, and the remaining half will be used to fund development. Only $10 million in total value locked will be allowed during the early stage. The Fortune Teller NFTs will also represent artworks by “various well-known artists” commissioned by Teller. The full list will be revealed post-sale. Teller Finance combines a no-collateral lending protocol and a secured loan...

Dvision Network Set to Release Limited-Edition NFT Characters

The NFT sector continues to grow, and it is no surprise that Dvision Network is looking to release NFTs. The Virtual Reality blockchain platform offers users the opportunity to purchase virtual space within its ecosystem, and NFTs are a significant part of this. Limited-Edition NFT Characters Dvision Network , a virtual reality blockchain ecosystem, has announced that it is set to pre-release the designs of five limited-edition NFTs. This information was revealed on March 15 and signaled the first major foray into the Non-fungible tokens sector by Dvision Network. According to the report, the five designs are from the limited-edition NFT originally scheduled to be available before the end of March. The NFT characters are built based on the avatar of major stakeholders within the cryptocurrency industry and will be auctioned in the coming days on NFT Marketplace OpenSea . The NFTs released by Dvision Network are unique and scarce since they are obtained from the limited edition...

Theta Network's token enters top-10 cryptos by market capitalization

The Theta Network’s native token continues to hit new all-time highs. THETA, the native token of the Theta Network — a decentralized blockchain-based video delivery network — has entered the top 10 cryptocurrencies by market capitalization. On March 23, THETA overtook Chainlink (LINK) as the 10th biggest cryptocurrency by market capitalization at nearly $11.5 billion, according to data from CoinGecko. At publishing time, LINK’s market cap amounts to $11.2 billion. Source: CoinGecko THETA has seen propelled growth recently, gaining 70% over the past seven days and hitting new historical highs . The token is trading at $11.8 0, up 17% over the past 24 hours at publishing time, according to data from CoinGecko. The coin has seen consistent growth in 2021 , even outperforming Bitcoin’s ( BTC ) late-2020 rally. THETA 90-day chart. Source: CoinGecko THETA’s entrance to the top 10 coins by market cap comes soon after major altcoin Bitcoin Cash ( BCH ) dropped off the top 10 list...

Forex and crypto investors seek thrills and social status, says FCA study

A new study commissioned by the United Kingdom's Financial Conduct Authority found that the profile of cryptocurrency traders skews towards thrill-seeking, trading on gut “instinct.” Cryptocurrency traders — according to the findings of a new study commissioned by the United Kingdom's Financial Conduct Authority — are a young and diverse bunch who are not always level-headed in their investment choices. The study, conducted by the international strategy consultancy BritainThinks between mid-August 2020 and late January 2021, was based on a sample of 517 “self-directed investors” i.e. those who make investment decisions on their own behalf and don't seek professional financial advice. The findings indicate that 38% of those surveyed don't have a functional reason for their investment choices, giving priority instead to emotional factors such as the thrill of trading and enjoying a sense of ownership towards the companies they invest in, which sustains a perceived s...

The Turkish Lira Plunges Following Removal of a Central Bank Governor, BTC Searches up

The Turkish lira currency plunged by more than 10% on March 22 after the country’s President Recep Tayyip Erdogan unexpectedly fired Naci Agbal, the country’s central bank governor. Having initially touched a new low of 8.280 a dollar, the lira recovered to close at 7.75 a dollar by 20.00 hours GMT. Inflation Fears On the other hand, a day before the lira crashed, bitcoin became the most searched word in Turkey. As Google trends data shows, searches for bitcoin spiked by more than 500% as inflation fears grew following Agbal’s ouster. Before his sacking, Agbal, who favored using higher interest rates to tame inflation, had helped make the lira “one of the best performing emerging market currency this year.” According to a report , satisfied overseas money managers had reacted to Agbal’s policies by pouring funds into the Turkish economy. The report said: Overseas money managers had added a net of $4.6 billion to Turkish stocks and local currency bonds during Agbal’s tenure, bett...

Bitcoin’s lower lows worry traders — But is the BTC bull market really in danger?

Bitcoin bounced off $53,000 support but another leg down should not be ruled out in the near term. Bitcoin’s ( BTC ) price has seen massive gains in recent months as the price of Bitcoin accelerated from $11,000 to nearly $62,000. However, such impressive rallies also include relatively calm periods of price action. These periods are consolidative and are needed for the market to find a new floor. In bull markets, bullish continuation is likely after these periods of ranging before another leg up can happen. Currently, Bitcoin’s price seems to be in such a period just over a week after hitting all-time highs above $61,000. $53K level has to hold to avoid more downside BTC/USD 4-hour chart. Source: TradingView The 4-hour chart for BTC/USD shows a clear downtrend since its recent all-time high in mid-March. This happened after a breakthrough past $58,000. However, this move showed weakness as there wasn’t any sign of new buyers stepping in for more upside. In ...

Experts say new South Korean crypto rules will create a monopolized market

Blockchain industry members claim that smaller-scale startups have struggled to forge partnerships with local banks in South Korea and are therefore unable to register under regulators' new requirements. South Korea is heading into a new period for its crypto industry, with stringent new rules coming into effect on March 25 that will require all cryptocurrency businesses to comply with new crypto reporting regulations and registration rules. As an article from the Korea Herald outlines, industry experts fear that the impact of the new measures — specifically, the incoming Specific Financial Transactions Act — will have damaging consequences for most domestic cryptocurrency firms. The act requires all virtual asset operators to seek official registration, for which they must show evidence that they are operating using real-name accounts at South Korean banks. While this is intended to prevent financial crimes such as money laundering, the vast majority of smaller-scale c...