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Showing posts from April 17, 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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Player Bags Big Win on ‘Elvis Frog in Vegas’ Slot at Bitcoin.com Games, Encashes $110,000 in BTC

Bitcoin.com Games brings $110,000 worth of smiles and happiness to this player! Massive Win on ‘Elvis Frog in Vegas’ Earlier in March, a fortunate player cashed out $160,000 in two epic winning rounds on The Dog House Megaways slot at Bitcoin.com Games . Now, another lucky player has bagged over $110,000 from a small bet of 0.0015 BTC on one of the most popular slot games on the casino – Elvis Frog in Vegas . With a 5×3 layout, this entertaining slot sees the titular character taking to the microphone with his female frog side-kick to put players in just the right mood for big wins. 1,195x multiplier applied to player’s bets resulting in a total win amount of $110,000 on Elvis Frog in Vegas slot! . The big win left the player with an experience that is reported to be one of the happiest moments in the player’s life. Astonishing that a bet worth such a small amount of BTC can flip the fortune in anyone’s favor. The game that the player landed a winning round in, is able t...
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Court Summons Mirror Trading International Executives Over BTC Global Scam Allegations

Two executives of Mirror Trading International (MTI) have been summoned by a high court in connection with another cryptocurrency investment scam called BTC Global. The court summons followed a civil lawsuit filed by 18 plaintiffs demanding compensation from them. Two MTI Executives Linked to BTC Global Scam A High Court summons was issued to Clynton Marks, Cheri Marks, and Andrew Caw in connection to a bitcoin investment scam called BTC Global, South African news outlet Mybroadband reported last week, noting that it has seen the court document. The court summons followed a civil lawsuit filed by 18 plaintiffs demanding compensation of R2.5 million (approximately $174,662) plus 7% annual interest for the losses they have suffered from the BTC Global scam. In addition, they asked the court for “further and alternative relief” and the legal costs they have incurred as part of the lawsuit. The court document explains that between September 2017 and March 2018, the defendants “con...
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Silicon Valley ‘Super Angel’ Investor Ron Conway Says Crypto Economy Is the Next Multitrillion Dollar Opportunity

Famed Silicon Valley “super angel” investor Ron Conway sees the crypto economy as the next multitrillion-dollar opportunity in innovation. The Silicon Valley legend likens Coinbase to Google after the company’s IPO via a direct listing on Nasdaq. Crypto Is the Next Multitrillion Dollar Opportunity in Innovation Legendary investor Ron Conway, who is often described as a Silicon Valley “super angel,” discussed the state of the crypto market and its future outlook in an interview with CNBC Wednesday. Conway, an early investor of Coinbase, likens the company to Google. An American venture capitalist and philanthropist, who is considered the “Godfather of Silicon Valley,” Conway has placed more bets on Internet startups than anyone else in Silicon Valley. He was an early angel investor in Google, Facebook, Twitter, Reddit, Paypal, Airbnb, Square, and Pinterest to name a few. Regarding the crypto market, the famed investor said: “If you start at the very top of the funnel. Look at the m...
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Shark Tank’s Barbara Corcoran Advocates Getting Rich by Investing in Real Estate, Not Cryptocurrencies

Shark Tank star Barbara Corcoran, the entrepreneur who turned a $1,000 loan into a billion-dollar real estate empire, says she will get rich by investing in real estate, not cryptocurrencies. The American investor takes every extra dime she has and puts it in real estate, emphasizing that she will get rich nice and slow this way. Investing in Real Estate vs. Cryptocurrency Real estate entrepreneur Barbara Corcoran shared her view on cryptocurrency and bitcoin in an interview with TMZ this week while out and about in Union Square in New York City. Corcoran is the American investor famed for building a billion-dollar real estate empire with just a $1,000 loan. She is also a star of the popular ABC television show “Shark Tank” and the author of the best seller book “Shark Tales: How I Turned $1,000 into a Billion Dollar Business.” Firstly, she was asked if “Cryptocurrency is all the rage right now.” The shark tank star promptly replied, “of course.” Given that she is an old-school i...
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Venus (XVS) price aims for $100 amid rising TVL and surge in DeFi users

The total value locked in Venus soared to a record $11.1 billion as DeFi users flock to the platform in search of attractive yields. Binance Smart Chain (BSC) has rapidly risen to prominence in 2021 as high transaction costs and congestion on the Ethereum ( ETH ) network led smaller-size investors to search for cheaper alternatives. One of the top choices to earn a yield on the BSC is Venus (XVS), an algorithmic money market and synthetic stablecoin protocol that provides a lending and borrowing solution for the decentralized finance (DeFi) ecosystem. XVS/USDT daily chart. Source: TradingView Data from Cointelegraph Markets and TradingView shows that the price of Venus catapulted 3,000% in the first two months of the year, going from a low of $3.20 on Jan. 1 to an all-time high of $103 on Feb. 19 before correcting to $35 on March 25. At the time of writing, XVS price is trading for $98.   Traders seek stable yield with less risk When comparing different protocols a...
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Coinbase frenzy, DOGE dazzles, Bitcoin breaks records, Jim Cramer sells: Hodler’s Digest, April 11–17

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 Coinbase gets off to a rocky start as it lists on the Nasdaq It was billed as a watershed milestone for cryptocurrency the industrys Netscape moment . This week, Coinbase made its stock market debut. There was no shortage of excitement in the run-up to Wednesdays direct listing on the Nasdaq, with Bitcoin rallying to $64,863.10 before the open. COINs reference price was set at just $250, with all 1,700 staff pocketing 100 shares each . In true crypto form, it was a volatile debut. Coinbases stock quickly rose to $430 before falling sharply within the first few minutes of trading, closing its inaugural session at a still-impressive $328. It wrapped up Friday at $342 , with a market cap of ...
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Canada Approves Three Ethereum ETFs, Ether Funds Set to Launch on TSX Next Week

Canada has been approving crypto exchange-traded funds (ETF) more quickly than the United States and after three successful bitcoin ETFs, the country has approved three ethereum-based ETFs. The three ether ETFs in Canada will debut on Toronto’s stock exchange (TSX) on April 20, 2021. Three Ethereum ETFs Set to Launch in Canada Next Week Back in February, Bitcoin.com News reported on the launch of the first North American bitcoin exchange-traded fund. A few days later, the fund called the “Purpose Bitcoin ETF” captured massive volume with $165 million traded at the time. The three new ether-based ETFs will be provided by CI Global Asset Management, Purpose Investments, and Evolve ETFs. All three will appear on Toronto’s stock exchange (TSX) this Tuesday. Both Purpose and Evolve already sponsor crypto ETFs, and CI Global Asset Management aims to join the fray. CI Global is working with Bitcoin bull and billionaire investor Mike Novogratz’s Galaxy Digital. Novogratz’s organization ...
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Bitcoin dips under $60,000 — What's pulling down BTC price?

The price of Bitcoin suddenly dropped below $60,000 days after the Coinbase public listing. The price of Bitcoin ( BTC ) declined below $60,000 on April 17 after a strong rally throughout the past week in anticipation of the Coinbase public listing on Nasdaq. However, after the COIN listing , which is the ticker of the Coinbase stock, the cryptocurrency market started to correct. BTC/USDT 1-day price chart (Binance). Source: TradingView.com An expected Bitcoin sell-the-news drop Coinbase's public listing brought significant attention to the cryptocurrency market. It marked the first public listing of a major cryptocurrency exchange, leading to high institutional demand. As a result, the cryptocurrency market rallied leading up to the listing with BTC price hitting new all-time highs above $64,00 . However, it was almost expected to see Bitcoin and Ether ( ETH ) drop after the fact, considering the tendency of cryptocurrencies to sell off after a major event. Another major...
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Is Bitcoin becoming the 'Google' of crypto as BTC market cap nears new milestone?

Bitcoin is nearing the market capitalization of Google, but why is this an important trend to observe? Holger Zschaepitz, a market analyst at Welt, emphasized that Bitcoin ( BTC ) is nearing the valuation of Google, as it heads toward $1.5 trillion in market capitalization. Currently, as of April 17, the market cap of Bitcoin is hovering at around $1.12 trillion as the entire valuation of the crypto market remains comfortably above $2 trillion . What is the similarity between Bitcoin and Google? The similarity between Bitcoin and Google that Zschaepitz pointed out is that both have dominance in their respective sectors. Bitcoin vs. Google market cap. Source: Bloomberg, Holger Zschaepitz Bitcoin has the strongest network effect in the cryptocurrency market, accounting for more than 51% of the global cryptocurrency market. Google has dominance over the search engine market and has a massive share of the video-sharing and streaming sector with its ownership of YouTube. Zschaepi...
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Coinbase insiders dump nearly $5 billion in COIN stock shortly after listing

After an edict to remain "mission focused," Coinbase executives have succeeded in making themselves a fortune. Insider activity reports for Coinbase’s COIN stock indicate that multiple early investors and executives dumped billions in equity shortly after COIN’s direct listing, with at least one C-suite director cashing out their stake in the cryptocurrency exchange entirely.  Data from Capital Market Laboratories and confirmed by filings on Coinbase’s Investor Relations website shows a total of 12,965,079 shares sold by insiders, worth over $4.6 billion at COIN’s $344.38 per share Friday close. Notable transactions include Coinbase CFO Alesia Haas selling all of her 255,500 shares at a price of $388.73, while CEO Brian Armstrong sold 749,999 shares in three transactions at various prices, netting a total of $291,827,966. He retains 300,001 shares worth over $1 billion.  Capital Market Laboratories' data did not indicate that any directors or insiders purchased ad...
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After a remarkable run, social media sentiment sours on DOGE

Americans carried the digital currency higher, but their enthusiasm may be waning. It was a Shiba Inu shooting across the sky: Dogecoin’s run over the past week will be one for the history books. However, for all the fireworks social media data is indicating that the meme’s run may have met its end.  The digital currency, which originally launched in 2013 and has been at the center of a number of absurd headlines and scams over the years, notched another chapter in its often puzzling history over the past few days. On Friday, DOGE managed to eclipse Ethereum in total exchange volume (doubling, in fact), the capstone to a remarkable run that saw it double in price in a day, capping over 5000% gains on the year . However, at its core DOGE is a meme, and memes are propagated by and fundamentally rely on social media. When the meme can’t spread, the price will crash. At the time of publication, DOGE is down 35% on the day to $.26, retreating from $.40 highs — and social media se...
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Blockcap Mined $33M in BTC in First Quarter, Q1 Bitcoin Revenue Outshines US Competitors

The Texas-based Blockcap Incorporated revealed the blockchain and mining firm has mined approximately 544 bitcoins during the first quarter of 2021. Blockcap says the $33 million worth of bitcoin stems from the firm’s fleet of 12,176 mining rigs. Blockcap Rakes in 544 Bitcoins During the last three months, bitcoin ( BTC ) markets have seen phenomenal gains and alongside the price rises bitcoin miners are pulling in profits. This week the Austin-based firm Blockcap revealed its Q1 earnings in terms of bitcoin ( BTC ) revenue. The company has acquired $33 million or 544 bitcoins during the first quarter. Bitcoin.com News recently reported on Blockcap moving its headquarters to Austin. At the time, former governor of Texas, Rick Perry welcomed Blockcap for bringing tech innovation to Texas. The company acquired the 544 bitcoins this year by leveraging 12,176 mining rigs and Blockcap hopes to deploy more machines. Blockcap says by next year it hopes to get 43,000 bitcoin mining rig...
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Bitcoin to close April above $90K? When & where this bull wave will top

Stock-to-flow model creator PlanB has calculated Bitcoin could reach $92K by the end of April...but will it actually get there? The cryptocurrency markets experienced a monumental green wave this week. Bitcoin and Ether calmly made new all-time highs on the back of Coinbase’s direct listing and the Berlin hard fork . Meanwhile, meme-cryptocurrency Dogecoin blasted off to more than 400% gains , briefly claiming a spot as a top 5 cryptocurrency by market capitalization.  Despite the media hype and market movements of this week, PlanB showed Bitcoin still isn’t as overbought as it was at the peaks of the 2017, 2013, and 2011 bull cycles. He calculated that if Bitcoin were to reach those levels by April's end, its price would clear $90K. Yet, this explosive week still has many wondering, “Does the market have enough steam to continue this bull wave?” Experienced trader and market analyst Eric Crown thinks so: “Until I see a weekly reversal, I will not be calling a high. I wil...
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VORTECS Report: Markets Pro sounds the alert as RUNE, DOGE and XRP skyrocket

Although VORTECS Scores that touched the 90 threshold failed to lift off this week, Markets Pro subscribers received bullish alerts on Dogecoin, XRP and THORChain ahead of massive price rises. It’s been a spectacular week for the Cointelegraph Markets Pro VORTECS™ Score, which alerted subscribers to several of the top crypto asset price movers hours before the price began to climb. DOGE analysis Dogecoin (DOGE) has been the standout performer of the week, confounding analysts who look for fundamental strengths in an asset — the meme coin may not have much of a team, or a genuine use-case, but it has Elon Musk, Mark Cuban… and the support of their millions of fans. Dogecoin crossed the 80 VORTECS™ line on the morning of April 13, when the price curve was still flat at around $0.073 (first red circle). Apparently, the model has recognized a familiar confluence of celebrity tweets and rising trading volume. Closer to the early hours of April 14, the price line followed suit, pumping...
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The crypto FBAR: Implications beyond

What crypto owners should know if crypto accounts fall within the new Foreign Bank and Financial Accounts regulations. The United States Department of Treasury is again sharpening its sword upon crypto. In January 2021, the Department of Treasury’s Financial Crimes Enforcement Network issued Notice 2020-2 . The Notice states that FinCEN intends to amend its regulations concerning the reporting of foreign financial accounts to include digital currency as a type of reportable account.  In simple terms, this means FinCEN may soon require crypto users to file annual Reports of Foreign Bank and Financial Accounts, or FBARs , for crypto held on foreign exchanges. The effects of such an amendment are expansive. A mere paragraph long, the notice carries several implications that affect crypto owners — well beyond a simple FBAR report. Presently, cryptocurrency accounts are not reportable accounts within the meaning of the FBAR regulations. Should a change occur, crypto owners — already...
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