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Showing posts from March 28, 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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Uniswap’s daily fee generation tops Bitcoin’s by $1.7 million

Uniswap is currently the second-ranked crypto platform by daily fee generation after Ethereum. The world’s top decentralized exchange, Uniswap, is currently beating out Bitcoin’s daily fee generation by more than 50%. According to the data tracking website, CryptoFees , the leading Ethereum-powered decentralized exchange Uniswap has generated more than $4.8 million worth of fees over the past 24 hours. This has propelled the automated market maker into second place above Bitcoin — which has generated just $3.1 million. The top network by daily fees is Ethereum with $16.5 million — which beats out the other 30 other networks tracked by CryptoFees combined. It appears Uniswap’s dominance over Bitcoin may be short-lived, with Bitcoin beating out Uniswap for daily fees averaged over the past seven days by nearly 20% — with BTC pushing $4.15 million compared to Uniswap’s $3.5 million. Image - cryptofees.info Uniswap’s high fees are a product of Ethereum’s exorbitant gas prices...
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NY Governor Cuomo launches blockchain-powered vaccination passports

New York Governor Andrew Cuomo has launched of a blockchain-powered vaccination passport built on top of IBM's Digital Health Pass. New York Governor Andrew Cuomo announced the launch of the city's blockchain-powered “Excelsior Pass” vaccination passport on March 26. The passport is issued through a free and voluntary platform that verifies Covid-19 vaccinations or negative test results via a QR code for smartphone scanning or printing. The Excelsior Pass is intended to assist the process of reopening businesses and public venues across New York. The vaccination passport is built on IBM ’s blockchain-powered Digital Health Pass , which enables a user's identity, vaccination history, and test results to be verified and securely shared without revealing unrelated personal information. In the announcement, Governor Cuomo emphasized the importance of utilizing technology to reopen in a way that caters to both public health and the economy: "As more New Yorkers get ...
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Polkadot moves towards sharding as Acala Network secures first Rococo parachain slot

Polkadot’s vision for a sharded parachain ecosystem is moving toward becoming a reality. The Polkadot ecosystem continues to progress, with DeFi platform Acala Network becoming the first to win a parachain slot on the Rococo testnet. Acala, the self-described decentralized finance hub for Polkadot, announced it had secured the slot on March 26. Acala has won the first parachain slot auction on @Polkadot testnet Rococo, and now Acala occupies the first public parachain slot on Rococo . Keep on building ️ pic.twitter.com/EscaM8dGqQ — Acala - DeFi Hub of Polkadot (@AcalaNetwork) March 26, 2021 Acala was launched in January 2020, with the DeFi consortium striving to create a cross-chain open finance infrastructure for the Polkadot ecosystem. In February, Acala launched an Ethereum Virtual Machine (EVM) based on Polkadot’s Substrate framework, facilitating interoperability with Ethereum-based assets. The official parachain launch takes the platform a step further towards its goa...
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Indian Government Now Requires Companies to Disclose Cryptocurrency Holdings

The Indian government has introduced new cryptocurrency disclosure rules. Companies dealing in cryptocurrencies will have to disclose their crypto holdings, among other disclosures, as part of their financial statements beginning April 1. New Crypto Disclosure Requirements The Indian Ministry of Corporate Affairs (MCA) issued a notification last week mandating companies to disclose crypto trading and investments during the financial year. These disclosures will be required starting on April 1, which is when India’s financial year 2021-22 begins. Every company which “has traded or invested in cryptocurrency or virtual currency during the financial year” must disclose “profit or loss on transactions involving cryptocurrency or virtual currency,” “amount of currency held as at the reporting date,” and “deposits or advances from any person for the purpose of trading or investing in cryptocurrency or virtual currency.” Crypto companies in India welcome the new requirements by the gover...
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Boomers Next to Adopt Crypto, a Trillion Dollars Could Flow Into Bitcoin Over the Next Year, Says Novogratz

Galaxy Digital CEO Mike Novogratz has predicted that as much as a trillion dollars could flow into bitcoin over the next year as wealthy baby boomers get into cryptocurrency. With the example of Morgan Stanley, he says that more banks will start offering bitcoin exposure to their customers. $1 Trillion Could Flow Into Bitcoin Michael Novogratz, a longtime bitcoin bull and founder of Galaxy Digital, talked about the future outlook for bitcoin last week in an interview at Reuters Digital Assets Week. He explained that as cryptocurrencies become more mainstream, wealthy baby boomers will be the next generation to get into cryptocurrencies, elaborating: It could be as much as a trillion dollars comes over the next year from that giant group of wealth. Following the announcement by Morgan Stanley to offer access to bitcoin funds to its wealthy clients, Novogratz predicted that other major banks and trading platforms will follow suit. This will likely spark the rush from wealthy baby...
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PancakeSwap (CAKE) aims to take a slice out of Uniswap’s DeFi dominance

PancakeSwap has emerged as one of the top DeFi platforms and its Binance Smart Chain integration makes it a liquidity magnet against competitors like Uniswap and SushiSwap. Decentralized finance has taken a back seat to nonfungible tokens over the past month but this hasn’t stopped the top DeFi projects from developing and strategizing how to grow their ecosystems and market share.  One project that has outperformed the field as of late is PancakeSwap (CAKE), the Binance Smart Chain-based automated market maker (AMM) that allows users to exchange tokens and earn a portion of fees through yield farming. Monthly trading volume on PancakeSwap. Source: Delphi Digital According to a recent report from Delphi Digital, several factors have played a significant role in helping the PancakeSwap ecosystem grow in recent months and analysts predict that the protocol will continue to be a serious competitor to Uniswap. Users flee high Ethereum fees Anyone who has tried to transact on ...
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The Fed Plans to Unveil Digital Dollar Prototypes in July

The Federal Reserve is actively working on a central bank digital currency and some prototypes are near completion. The Federal Reserve Bank of Boston and the Massachusetts Institute of Technology (MIT) plan to unveil two prototypes of a digital dollar as early as July. Digital Dollar Prototypes Coming Soon Federal Reserve Chairman Jerome Powell said last week as part of an event held by the Bank for International Settlements (BIS) on central bank digital innovation that the U.S. central bank is actively exploring the launch of a digital dollar. The U.S. Federal Reserve has been actively working on a central bank digital currency (CBDC). At least two prototypes of a digital dollar are near completion, developed by officials at the Federal Reserve Bank of Boston and the Massachusetts Institute of Technology (MIT). They plan to unveil their research as soon as July, said James Cunha, who leads the project for the Boston Fed. He told Bloomberg: The Boston Fed and MIT hope to unveil...
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NFTs come to Saturday Night Live in rap sketch

"Everyone’s making so much money — can you please explain what’s an NFT?" asked Pete Davidson's Eminem. The craze behind non-fungible tokens, or NFTs , has seemingly reached peak parody after NBC's famed Saturday Night Live sketch comedy featured it in a skit with United States Treasury Secretary “Janet Yellen." In last night’s show hosted by former cast member Maya Rudolph, Yellen — portrayed by comedian Kate McKinnon — is speaking at a university economics class when a student asks her to address exactly what are non-fungible tokens through the medium of rap. “What the hell’s an NFT? Apparently cryptocurrency. Everyone’s making so much money — can you please explain what’s an NFT?” The sketch features an absurd list of some real and invented NFTs in the crypto space, including images of U.S. Supreme Court Justice Chuck E. Cheese and  Family Guy character Peter Griffin dunking a basketball. The cast of characters mainly consists of Peter Davidson as the...
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Top 5 cryptocurrencies to watch this week: BTC, KLAY, VET, SOL, KSM

Bitcoin appears to be preparing for a move toward $60,000, while KLAY, VET, SOL and KSM are attempting to find bullish momentum. In trading, selling a position is as important as buying it at the right time. Therefore, the big question that could be troubling traders is whether or not Bitcoin ( BTC ) price will enter a bearish phase or will the bull run continue after this week's pullback. PlanB, the creator of the popular Bitcoin stock-to-flow model, recently tweeted that the crypto bull run has only started and is “nowhere near the end of it.” PlanB is not the only voice that is hugely bullish on Bitcoin. Mike McGlone, the senior commodity strategist at Bloomberg Intelligence, believes that if previous behavior is considered, Bitcoin’s 2021  peak  could be nearer to $400,000. Crypto market data daily view. Source: Coin360 One of the main reasons that could be drawing institutional investors to cryptocurrencies is the possible debasing of the U.S. dollar. In an inte...
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Interest from China, Co-Mining and a Grayscale Trust Gives Filecoin’s Market Cap a Valuation Lift

Over the last seven days the project filecoin, a cryptocurrency, and blockchain-based cooperative digital storage network climbed 61% in value and 493% during the last three months. Regional reports from China also show that the computer hardware giant based in Shenzhen, Xinyuan Technology Co., has invested $89 million into the filecoin mining ecosystem. Filecoin Market Cap Swells, Computer Hardware Giant Xinyuan Technology Invests in FIL Miners Filecoin , the decentralized storage project designed by Protocol Labs and built on top of the Interplanetary File System (IPFS), has seen quite the demand during the last 90 days. During the last week, the crypto asset has spiked 61%, while a number of other cryptocurrencies have been down. At the time of publication, Filecoin is trading for $127 per unit and has a $7.54 billion market valuation. 30-day price statistics show filecoin (FIL) is also up over 270% as well. The Filecoin project aims to make it so people can control their own d...
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Smells like NFT spirit? Look Labs launches first digital fragrance

An NFT version of Cyber Eau De Parfume is now available for auction on Rarible. The NFT was designed in collaboration with Montreal-based artist Sean Caruso. Look Labs, a contemporary beauty and lifestyle studio founded in Berlin, Germany, has launched the first digital fragrance encoded into a non-fungible token , or NFT, offering further evidence that the digital art craze continues to grow.  The fragrance is a digital version of the unisex Cyber Eau de Perfume, which was launched in October 2020 with a strong focus on environmental sustainability. The NFT collectible was designed in collaboration with Montreal-based artist Sean Caruso. The scent of physical Cyber Eau de Perfume was “extracted using near-infrared spectroscopy and is represented in the art piece itself in the form of spectrum data,” Look Labs explained. Regarding the NFT design, Caruso said he was inspired by the original packaging of the physical perfume bottle. He explained:  “For the NFT, I was inspi...
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Crypto user modifies old school Game Boy for Bitcoin mining

YouTuber Stacksmashing estimated his rig would take "a couple of quadrillion years to mine a Bitcoin." An IT security researcher has been able to adapt Nintendo’s first major handheld game console to mine cryptocurrency. According to a recent YouTube video, user Stacksmashing used the hardware from a Nintendo Game Boy first released in 1989 as a starting point to mine Bitcoin ( BTC ). Because the gaming console has no built-in wireless capabilities — and largely predates the internet — the YouTuber said he used a Raspberry Pi microcontroller board attached to the Game Boy’s link port and a USB flash card to establish a connection to a BTC node run from his computer. Screenshot from YouTube "My goal was to use an original, unmodified Game Boy," said Stacksmashing. "I want to plug in a cartridge, and start mining." Stacksmashing wrote his own mining code for the Game Boy’s read-only memory, integrated mining software — modified for the gaming consol...
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Bitcoin HODLers are not selling: Inactive BTC supply hits 3-month low

Bitcoin supply that has not moved for over two years has hit a 3-month low, indicating conviction from long-time HODLers. Long-time Bitcoin ( BTC ) HODLers are refraining from selling their holdings, on-chain data from Glassnode shows. According to Glassnode’s "BTC Percent Supply Last Active 2+ Years" indicator, Bitcoin that was last moved well over two years ago reached a three-month low to 45.364%. BTC Percent Supply Last Active 2+ Years. Source: Glassnode This trend indicates that Bitcoin HODLers who bought around the top of the last bull cycle in 2018 and before are showing deeper conviction as BTC consolidates above $55,000. Interestingly, the spike during December 2020 suggests that many may have sold at a breakeven of around $20,000, or the previous all-time high in late 2017.   Why is Bitcoin consolidating with low volatility bullish? Bitcoin typically tops or sees a severe correction when long-time holders begin to sell rapidly. In previous bull cycles, the...
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Survey Shows 77% of Americans Are Concerned About Rising Inflation, Prices for Goods Are Soaring

Since well before the Covid-19 outbreak was found in America, the U.S. Federal Reserve invoked a number of monetary easing policies. Then throughout 2020, the central bank created a quarter of all the USD ever issued in less than 12 months to help the economy during the outbreak. Despite Fed Chair Jerome Powell and other central bankers showing little concern for inflation, a recent survey shows that 77% of Americans are worried about surging inflation in the months to come. Survey Shows Younger Generations Are Worried About Inflation Hurting Their Purchasing Power During the first week of March, Federal Reserve Chair Jerome Powell did an interview at the Wall Street Journal Jobs Summit and he explained he wasn’t worried about inflation. Further, other members of the central bank have shown little worry about rising inflation as well, even though the Fed created massive amounts of USD last year and into 2021. Atlanta Fed President, Raphael Bostic, recently said that determining...
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Nilicoins, Rare Pepe and Curio Cards- A Look at the OG Collectibles That Started the NFT Madness

During the last few months, the non-fungible token (NFT) scene has exploded with lots of celebrities jumping on the bandwagon, high grossing auctions, and even some controversy on the side. A lot of people don’t realize how old NFT collectibles are, as years ago developers and artists created NFTs like Nilicoins (artcoins), Rare Pepe trading cards, and Curio cards as well. Since the NFT boom has straddled new heights, these old NFTs are in demand again and being sold at auctions. Color Coins and Nilicoins The NFT ecosystem has grown exponentially and it seems everybody is getting in on the trend. Digital artists selling NFTs have made millions at auction and a great deal of celebrities and socialites are minting NFTs now as well. The NFT space is very popular, but the concept is nothing new, as color coin technology has existed on the Bitcoin ( BTC ) network and other chains for years. Color coin tech was first mentioned by Yoni Assia in a post called “ bitcoin 2.X (aka Colored B...
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NFTs are not just for art: As technology matures, more uses will emerge?

Some believe the hype around million-dollar NFT art and digital collectibles is warranted, with new use cases sure to emerge. Before the age of smartphones allowed the average person on the street to snap a selfie with their favorite celebrity, autographs and signed memorabilia were highly sought after by collectors. Naturally, the value of these real-world, authentic and rare keepsakes are high and remain so today. However, thanks to the utility of blockchain technology, digital collectibles are becoming the modern-day autograph or the one-of-a-kind, priceless piece of art. People need to look no further than the $69 million paid at auction for the now-famous “Everydays: The First 5000 Days,” a digital collage created by digital artist Mike Winkelmann, better known as Beeple. The auction of the digital art piece, which featured some 5,000 pieces of digital art created by Winkelmann, is the most expensive NFT ever sold at auction by world-renowned auctioneers Christie’s. In one sw...
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