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Showing posts from April 19, 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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ODDZ Listing on AscendEX

PRESS RELEASE. AscendEX, formerly BitMax, an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of the Oddz Protocol Token (ODDZ) under the pair USDT/ODDZ on Apr 19 at 1:00 p.m. UTC. Oddz Finance is the world’s first on-chain option trading platform built on the Binance Smart Chain, Polkadot, and Ethereum Blockchains with a built-in oracle solution. Its distinguishing features include instant trades, interoperable options trades, transparent premium discovery methods, and custom option trading techniques. The Oddz Protocol’s native token is ODDZ, which is designed to incentivize and promote the community’s active participation. The ODDZ tokens represent power for users and are central to the incentive structure and governance of the Oddz Protocol. The ODDZ token holders represent an integral part of the Oddz ecosystem. They vote on various proposals for the protocol’s growth. Moreover, the primary motive of ...
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Oracle Service API3 Partners With the Open Banking Project, Plans to Connect 400 Banking APIs to Blockchain

On Monday, the oracle provider API3 announced a ten-year partnership with the Open Bank Project in order to connect more than 400 banking APIs to blockchain smart contracts using API3’s Airnode. The collaboration between API3 and the Open Bank Project aims to bridge conventional banking with blockchains and Web 3.0 applications. API3 DAO Partners With the Open Banking Project Connecting Over 400 Banking APIs to Blockchain During the last few months, there’s been greater interest in oracle providers like Chainlink, Band Protocol, API3, and DIA. Recently, Bitcoin.com’s news reported on a number of oracle-based tokens gathering two-digit gains. Further, our newsdesk covered how Chainlink’s modular oracle for the Substrate framework aims to empower developers and decentralized finance (defi) applications with trusted off-chain information. On April 19, API3, the project that claims to provide “decentrally governed and quantifiably secure data feeds,” revealed a partnership with the...
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Cardano and Polkadot extend staked capitalization dominance

While Cardano and Polkadot are extending their staking dominance, Tezos has plummeted from the top ten by staked capitalization. The stakes have been upped for Cardano and Polkadot, with the two networks continuing to dominate the staked capitalization rankings. According to data from StakingRewards , Cardano is currently the top blockchain in terms of staked value, with roughly $26.4 billion worth of ADA allocated to securing the network. With Cardano’s entire capitalization tagging $36.6 billion, 73% of circulating ADA are being staked. StakingRewards estimates Cardano stakers are earning an annual reward of 7.22%. The second-largest crypto asset by staked value is Polkadot with $22.7 billion worth of DOT locked — representing 64% of its circulating supply. Average annual staking rewards for DOT are estimated at more than 13%. Cardano and Polkadot currently represent 7.9% of the $620.6 billion in crypto assets currently designated for staking across the crypto asset sector com...
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Nasdaq to launch options trading for Coinbase Global

Equity options for COIN stock are coming to Nasdaq today. Less than one week after the largest crypto exchange in the U.S. was listed, Nasdaq is set to start trading options for Coinbase Global. According to an April 19 Reuters report , a representative for Coinbase stated that the COIN.O options will start trading on Nasdaq on Tuesday, April 20. The launch of equity options will offer a new way for investors to bet on the fortunes of Coinbase. Equity options represent the right, but not the obligation, to buy or sell a stock at a certain price, known as the strike price, on or before an expiration date. The news follows Coinbase’s direct listing, which saw the firm's stock fluctuate between a valuation of $429.54 and $310 on its first day of trading. Reuters estimates that Coinbase Chief Executive Brian Armstrong sold around $292 million in shares on COIN's first day of trading . According to filings made with the U.S. Securities and Exchange Commission, Armstrong sold 7...
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Bibox beats lawsuit alleging unregistered securities issuance

A U.S. district has rejected a lawsuit alleging that Bibox sold unregistered securities because the lead plaintiff last traded the tokens in question more than 12 months ago. A lawsuit accusing crypto exchange Bibox of selling six unregistered securities was thrown out of a U.S. District Court after Judge Denise Cote ruled the plaintiff had failed to file the complaint within 12 months of trading the tokens. Plaintiff Alexander Clifford filed the class-action complaint on June 3, 2020, seeking to recover investments he previously made into Bibox’s native BIX token, in addition to Eos (EOS), Tron (TRX), Aave (LEND), and Aelf (ELF) on behalf of other investors. The lawsuit alleged that Bibox had selectively withheld information from investors to conceal that the tokens comprised unregistered securities while facilitating trade in the assets during October 2017. The lawsuit emphasized Bibox’s apparent failure to register its BIX token with regulators. However, the case was tossed out...
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Morgan Stanley Says Central Bank Digital Currencies Not a Threat to Cryptocurrencies

Major investment bank Morgan Stanley believes that central bank digital currencies are not a threat to the existence of cryptocurrencies. The bank believes that both types of digital currencies can coexist because they serve different purposes and have different appeals. Cryptocurrencies and CBDCs Can Coexist Morgan Stanley’s analysts, including chief economist Chetan Ahya, discussed the impact of central bank digital currencies (CBDCs) on bitcoin and other cryptocurrencies in a report published last week. They wrote: Cryptocurrencies will still exist, as they continue to serve other use cases … For instance, some cryptocurrencies can function as a store of value … as some segments of the public do not place their full faith in fiat currencies. The analysts explained that the uses and appeals of central bank digital currencies and cryptocurrencies are different. They added that cryptocurrencies can be both a store of value, similar to gold, and a speculative asset. A growing nu...
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Federal Reserve Bank President Says Bitcoin Is Clearly a Store of Value

The Federal Reserve Bank of Dallas president says bitcoin is clearly “a store of value.” Emphasizing the differences between cryptocurrencies, like bitcoin, and central bank digital currencies, he said the latter “won’t necessarily be a store of value.” Fed Bank Chief Calls Bitcoin a Store of Value The president of the Federal Reserve Bank of Dallas, Robert Kaplan, talked about bitcoin and central bank digital currencies (CBDCs) Friday at the Texas A&M Bitcoin Conference 2021 hosted by Mays Business School. Firstly, Kaplan explained that he would distinguish between bitcoin and central bank digital currencies. “I would differentiate between a cryptocurrency, like bitcoin, and the discussions that are being had about digital currency,” such as the digital yuan experiment in China, he described. He proceeded to explain that the challenge on bitcoin is “how widely it will be adopted.” The Federal Reserve Bank of Dallas chief elaborated: Right now, it’s clear it’s a store of val...
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Are we there yet? Here’s why one analyst says its not ‘altcoin season’

Altcoins have been on a real tear for months, but Jarvis Labs analyst Ben Lilly says we’re not in an "alt season" just yet. Few traders would argue against the fact that Bitcoin ( BTC ) is in a bull market, but there is less consensus on whether the market is in the midst of an "altcoin season." A quick view of Crypto Twitter shows the schism between traders who are certain we are halfway through alt season and those who believe it has yet to begin. Typically, traders rely on a wide swath of indicators and metrics, like Bitcoin’s total market capitalization versus the total altcoin market cap, Bitcoin’s dominance rate, and whether low-cap altcoins have rallied by a certain percentage. As is the nature of investing, too much signal can at times produce mixed results, so Cointelegraph decided to have a chat with Ben Lilly, co-founder and analyst at Jarvis Labs, to see where he and his firm think the market currently stands and to determine the most appropriate met...
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Bahamas ranked first for retail CBDC development, according to PwC

Countries like the Bahamas and Thailand are on the leading edge of CBDC development, according to a new research report. A new ranking of global central bank digital currencies, or CBDCs , places the Bahamas at the top of the leaderboard in terms of retail applications – offering an important glimpse in the race to issue government-backed cryptocurrencies. In its 2021 CBDC Index, global consulting firm PwC surveyed the level of central-bank maturity in deploying cryptocurrencies based on two factors: retail applications and interbank applications. Retail applications refer to CBDCs that can be held and transacted directly by individuals and companies in the form of digital cash. Interbank or wholesale CBDCs, meanwhile, are restricted to major financial institutions for settlement. “More than 60 central banks have already entered the central bank digital currency race, said Benoit Sureau, a PwC partner for the France & Maghreb region. He described CBDCs as a “game-changer” that...
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Dogecoin at $0.44 embraces 'literal moon' ahead of Elon Musk SpaceX launch

"Dogecoin Day 4/20" and a SpaceX rocket launch are two events fuelling DOGE/USD as year-to-date gains pass 7,500%. Bitcoin ( BTC ) may be flagging, but one cryptocurrency could not be less fazed by the market downturn , hitting new all-time highs. Dogecoin ( DOGE ), the altcoin based on a Shiba Inu meme, passed $0.40 for the first time on April 19, capping weekly gains of 400%. New all-time highs keep coming for DOGE The rags-to-riches moves by DOGE throughout 2021 have wowed pundits and left former bagholders weeping. Now, it appears that even a flash bear market cannot stop its moonshot. Just seven days ago, DOGE/USD traded at $0.07. As Cointelegraph reported , year-to-date gains are now in excess of 7,500%, while the pair is up almost 18,000% versus the same date in 2020. While this naturally beats the rises in Bitcoin, Ether ( ETH ) and others, the question now is what will happen next and whether an equally spectacular reversal is on the cards. At the time of wri...
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Crypto Exchange Luno Says South Africa’s Crypto Trading Dominated by Young People

Luno, one of Africa’s pioneering crypto exchanges, has revealed that South Africa’s cryptocurrency trading is largely dominated by young people with those under the age of 29 accounting for 40% of transactions. The exchange, which claims to have added nearly a million new South African customers in 2020, also reveals that “around 65% of Luno’s users are male and about 35% female.” These figures compare favourably with the industry average of 70% male to 30% female. Rising Retail Demand In addition to achieving a 300% year-on-year growth, Luno reports seeing the number of active users surging by 167% during the same period while “the number of app installs increased 119%.” Meanwhile, a report quotes Marcus Swanepoel, CEO and cofounder of Luno attributing the increase in transactions volumes to rising retail demand for cryptos. Swanepoel explained: While a lot of the attention has been around institutional adoption, retail adoption has been growing at an arguably even more frantic ...
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Cardano’s upcoming Alonzo smart contract update takes ADA to new highs

Cardano continues to cement its place as an Ethereum contender as the upcoming Alonzo update will be a game-changer for the community. Cardano ( ADA ) has become one of the most prominent upcoming blockchain networks. Its native token, ADA, has risen to become one of the top 10 cryptocurrencies in the world by market capitalization in a short time span. It currently ranks seventh, with a market capitalization of over $41 billion. It accounts for nearly 2% of the entire cryptocurrency market. According to data from CoinGecko, Cardano hit an all-time high of $1.55 on April 14.  The Cardano Foundation is led by one of the most eminent figures in the cryptocurrency community, Charles Hoskinson. He is the founder of Cardano and also the co-founder of the Ethereum blockchain. On April 6, through his YouTube channel, he discussed Cardano’s roadmap covering the next four years in a video titled “Some Musings about the Roadmap.” In these musings, he mentioned that although the Cardano...
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PARSIQ: Calling Data to Action Using Blockchain Technology

Over the past 13 years, the world has seen innovation at its finest. The creation of Bitcoin, the development of cryptocurrencies, the launch of blockchain projects, Decentralized Applications (Dapps), and far more. To gauge the financial evolution of blockchain one need only consider the price of Bitcoin in 2013 and compare it to today. In 2013, a single Bitcoin was worth $22. Today, Bitcoin is comfortably over $60,000, with analysts suggesting $100,000 is in sight. With the steady expansion of blockchain technology, the Blockchain as a Service (BaaS) revolution has begun. PARSIQ strives to pioneer the use cases of this BaaS revolution. PARSIQ: An Overview PARSIQ promotes BaaS through its next-gen monitoring and intelligence platform. Users can observe and utilize blockchain data for a number of use cases. These include: Tracking digital assets in real-time Notifications of Blockchain network activity Gathering and processing on-chain data Combining on-chain with off-chain da...
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Société Générale Launches Blockchain-Based Structured Product

French financial services giant Société Générale has issued security tokens on Tezos’ public blockchain as part of its ongoing experimentation with cutting-edge fintech applications. Latest Move Reflects Bank’s Efforts to Fold Cryptocurrency Operations Into Its Ecosystem In its latest milestone in the blockchain arena, French multinational bank Société Générale has issued its very first structured product security token. The token, which represents €5 million of Euro Medium Term Notes (EMTN), represents the first move by the bank to tokenize assets. The insurance arm of the bank, Société Générale Assurances, fully subscribed to the security token offerings. This latest development follows other work the bank has already undertaken through its regulated subsidiary Société Générale – Forge. Since it first tokenized a €100 million covered bond settled in Euros in 2019 on the Ethereum blockchain, the bank has also handled another covered bond worth €40 million for settlement in the Ba...
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Blockchain Association executive debunks rumored crypto crackdown by Treasury

A United States blockchain lobbying group executive says there is not any danger of a crypto crackdown in the country. Kristin Smith, executive director of the Blockchain Association has dismissed fears that the United States Department of the Treasury was close to cracking down on Bitcoin ( BTC ) and cryptocurrencies. Indeed, rumors of the Treasury bringing money laundering charges against some financial institutions using cryptocurrencies began circulating on social media over the weekend. The report emerged during a period of massive selloffs in the crypto space with the market capitalization dropping over $240 million as Bitcoin slid to $52,000 . In an interview with CNBC, Smith debunked the reports, stating that it was the Department of Justice’s remit to charge companies with money laundering. Janet Yellen, the secretary of the U.S. Treasury is a noted crypto critic who in February characterized the apparent misuse of cryptocurrencies for illegal activities as a growing co...
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A London tour guide: What the EIP-1559 hard fork promises for Ethereum

Contrary to popular belief, EIP-1559 does not seek to reduce Ether’s congestion and gas fee issues — so, what is it for? Ether ( ETH ) has been on a tear recently, with the premier altcoin’s value increasing from $1,800 to the peak of $2,480 since the start of April, showcasing a growth of nearly 30%. This latest wave of monetary momentum comes in the wake of Ethereum being on the receiving end of a lot of criticism regarding rising network congestion and transaction costs .  To put things into perspective, since the second half of February, the average cost of facilitating transactions on the Ethereum ecosystem has continued to hover above the $16–$20 range, making it quite impractical for individuals looking to facilitate smaller transactions to make use of the platform. In fact, on Feb. 23, the above-stated fee value shot up to an all-time high of $42, thereby drawing the ire of the crypto community at large. The Ethereum network recently underwent a hard fork labeled “Ber...
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Tether launches on Hermez rollup as Ethereum starts falling behind

Ethereum is starting to lose ground to its competitors for USDT usage, and Hermez may help to fix that. Tether ( USDT ) has now launched on Hermez Network, an Ethereum scalability solution based on the zk-rollup concept . Rollups provide a way of batching or “rolling up” transactions to lighten the load on the Ethereum network. The key to rollups is the concept of data availability, which means that the state data of the rollup is always fully available on-chain. In practice, this means that the Ethereum network knows the token balances of all user accounts on the Hermez rollup after every transaction, and this knowledge can be used to rapidly withdraw funds and distribute them to their new owners in the event of malfunctions. Zk-rollups can be considered as separate “blockchains” that are entirely reliant on the layer-one network for security. Through the use of zk-SNARKs, the Hermez rollup publishes regular proofs to the Ethereum network that verify its correctness. Due to the su...
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