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Showing posts from April 25, 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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Hip-Hop Legend Eminem Launches Beat-Inspired Animated NFTs for Stans

The critically acclaimed rap phenomenon Marshall Mathers, professionally known as Eminem has revealed he is jumping into the non-fungible token (NFT) collectibles game. Eminem is auctioning three types of NFTs via Nifty Gateway and each design was created by the hip-hop legend. Slim Shady Enters the NFT Fray Week after week, the NFT universe continues to grow larger and a great number of celebrities are joining in on the NFT bandwagon. The space has continued to swell with a myriad of different NFT projects, concepts, and marketplaces. Bitcoin.com has reported on a number of popular projects and luminaries minting non-fungible token collectibles like actress Lindsay Lohan , Kansas City Chiefs quarterback Patrick Mahomes, the Tampa Bay Buccaneers Rob “Gronk” Gronkowski’s NFTs, Tom Brady’s Autograph project , Topps Garbage Pail Kids and Baseball cards, Annoying Orange NFTs, and NFT collectibles by Kenyan filmmaker Rich Allela. Now the multi-platinum recording artist and ofte...
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Binance to launch Microstrategy, Apple, and Microsoft stock tokens

The upcoming listings will bring the total number of stock tokens tradable on Binance to five. Top crypto asset exchange Binance has announced it will list three new stock tokens over the coming week, following the launch of tokens tracking the performance of Tesla and Coinbase shares earlier this month. On April 26, Binance announced it will launch tokenized stock pairings for leading business intelligence firm, Microstrategy (MSTR), in addition to multinational tech firms Apple (AAPL) and Microsoft (MSFT). The tokens will allow users to trade fractionalized units of the share tokens, with minimum trade sizing set at one one-hundredth of a token. Binance’s MSTR tokens are slated to go live at 1:30 pm UTC on April 26, while the AAPL tokens will launch at the same time on April 28, and MSFT tokens will be tradable from April 30. The exchange asserts its stock tokens are “fully backed by a depository portfolio of underlying securities” held by German financial services provider, C...
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Bitcoin markets record deepest retracement since Black Thursday: Raoul Pal

With Bitcoin’s relative-strength indicator slumping to levels not seen since the March 2020’s Black Thursday crash, Raoul Pal asserts BTC is overdue for a bounce. Investment strategist Raoul Pal has identified that Bitcoin’s fortnightly relative-strength indicator, or RSI, recently fell to levels not seen since the “ Black Thursday ” crash of March 2020.  The Global Macro Investor and Real Vision Group CEO also noted Bitcoin’s weekly RSI has crashed to levels comparable to that of the corrections produced during “the first part of the 2017 bull run, before Bitcoin hit hyperspace.” The observation was made after Bitcoin crashed roughly 15% over the weekend, with BTC dropping from $55,000 to find support near $47,250 on Sunday, according to TradingView . Bitcoin is nearly as oversold as it was in March 2020... pic.twitter.com/ZYHESpW5HG — Raoul Pal (@RaoulGMI) April 25, 2021 “Corrections in a bull market are opportunities and not threats,” Pal added. On-chain analytics prov...
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OVR Launches Futuristic Virtual Gallery for NFTs and More

Today, April 26th, 2021, the virtual gallery of OVR.ai was inaugurated to showcase artists working with non-fungible tokens (NFT) and beyond. Considering the hype around the NFT phenomenon this year and also given that the Coronavirus pandemic prevents most artists from exhibiting works in museums and participating in exhibitions, as well as also people from being able to visit art galleries, the company OVR decided to introduce a museum in its blockchain-based virtual world, allowing the top artists in the field to exhibit their NFTs. Starting today, it is possible to download the OVR app (available on both Android and iOS) and visit this section of the virtual world dedicated to art. The NFT Artists of OVR Among the artists exhibiting their Non Fungible Tokens today for the opening of OVR’s gallery is Italian artist Giovanni Motta , born in 1971, who has just opened his solo exhibition in Shanghai, selling out before the opening. Motta will have a dedicated gallery on OVR, as...
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Top Chinese banks promote CBDC over local payment firms for shopping festival

Leading Chinese banks are promoting the digital yuan over Alipay and WeChat Pay for an upcoming shopping festival in China. Some of China’s largest state banks are actively promoting the digital yuan as a superior means of payment to the country’s two leading payment providers, Alipay and WeChat Pay. In an April 26 report , Reuters revealed that six of China’s largest banks are promoting China’s nascent central bank-issued digital currency, or CBDC, in Shanghai ahead of an online shopping festival on May 5. The banks are urging retail outlets and consumers to download the digital wallet and make purchases using the CBDC, or e-CNY. This would bypass the current payment methods of choice for millions of shoppers – Ant Group’s Alipay and Tencent’s WeChat Pay. The report noted that one bank official appointed to CBDC trial’s rollout in Shanghai under the guidance of the People’s Bank of China specifically described the digital currency as superior to Alipay and WeChat Pay, who sta...
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Fund Manager Bill Miller Says Bitcoin Is Not a Bubble — BTC Entering Mainstream as Demand Grows Faster Than Supply

Bill Miller, the founder and chief investment officer of Miller Value Partners, does not think bitcoin is a bubble. Instead, he said it is at the beginning of mainstream adoption. Remaining bullish on the cryptocurrency, the famed value investor explained that bitcoin’s price will rise as the demand for the crypto is growing faster than its supply. Bill Miller Bullish on Bitcoin Longtime value investor Bill Miller is the founder of Miller Value Partners and currently serves as the chairman and chief investment officer. He is also the co-portfolio manager for Opportunity Equity and Income Strategy funds. Prior to Miller Value Partners, he co-founded Legg Mason Capital Management. He was asked in an interview with CNBC last week whether there is a lot more upside to the price of bitcoin. Miller replied: “There are many many different ways to look at bitcoin. The simplest way is just the supply and demand.” Emphasizing rising institutional interest in the cryptocurrency as it enters ...
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Quantum Fund Cofounder Jim Rogers Insists Governments Could Ban Cryptocurrencies

Veteran investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, is still worried about governments outlawing bitcoin and other cryptocurrencies. “If cryptocurrencies become successful, most governments will outlaw them, because they don’t want to lose their monopoly,” he said. Jim Rogers Still Worried About Government Banning Bitcoin Renowned investor and George Soros’ former business partner who co-founded of the Quantum Fund and Soros Fund Management, Jim Rogers, still believes that the government can ban bitcoin and other cryptocurrencies. Noting that he “never bought or sold any cryptocurrencies,” Rogers told Kitco News’ Michelle Makori last week: If cryptocurrencies become successful, most governments will outlaw them, because they don’t want to lose their monopoly. “Every government in the world is working on computer money now, including the U.S. The Chinese are there already. I cannot imagine that governments are going to say ‘ok, th...
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Polygon (MATIC) jumps ahead as the race for Layer-2 adoption picks up

Increasing volume and TVL on QuickSwap, along with steady growth in the number of projects joining Polygon have analysts suggesting that MATIC price is undervalued. Recently layer 1 solutions like the Solana (SOL) and Cosmos ( ATOM ) have grown in prominence thanks to each network's faster transaction times and lower fees when compared to the Ethereum network. An even greater focus has fallen on layer 2 solutions that can help Ethereum keep up with the competition as it continues its process of switching to proof-of-stake.  One project that has seen a steady rise in user activity and transactions over the past 2 months is Polygon (MATIC), a platform for Ethereum scaling and infrastructure development. MATIC/USDT 4-hour chart. Source: TradingView Data from Cointelegraph Markets and TradingView shows that since hitting a low of $0.26 as the market sold off on April 18, MATIC price has climbed 50% to $0.39 as adoption of this expanding L2 platform begins to ramp up. Po...
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2 Turkish Crypto Exchanges Investigated for Fraud After Central Bank Bans Cryptocurrency Use for Payments

Two Turkish cryptocurrency exchanges are being investigated by the authorities in Turkey after they abruptly halted trading. The authorities have blocked access to the bank accounts of the second exchange and detained four people so far. Sixty-two people have been detained in connection with the first exchange whose CEO has fled the country. Second Turkish Crypto Exchange Being Investigated Following the alleged exit scam pulled by cryptocurrency exchange Thodex, another crypto trading platform is being investigated by Turkish authorities, the state-run Anadolu news agency said Friday. Vebitcoin, a Turkey-based crypto trading platform, became the second crypto exchange to face troubles within about a week after the country’s central bank banned crypto use for payments. Vebitcoin posted a notice on its website on Friday stating: “Due to the recent developments in the crypto money industry, there was a much higher density in our operations than expected. We would like to state with ...
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Top 5 cryptocurrencies to watch this week: BTC, ETH, BNB, XMR, CAKE

Bitcoin price remains pinned below $50,000 but the drop in BTC dominance could propel ETH, BNB, XMR and CAKE higher over the short term. Corrections in a bull phase are usually a bullish sign as they reduce the frothy excitement and allow stronger hands to enter the markets. However, the recent correction in Bitcoin ( BTC ) from its all-time high at $64,849.27 does not seem to have scared novice traders.  Data from DappRadar shows that decentralized exchange volumes have picked up in the last week as traders may have exited profitable Bitcoin positions to buy altcoins at their current rock bottom prices. Another sign of interest in altcoins is the sustained high volumes in Dogecoin ( DOGE ), which remains the fourth most traded cryptocurrency by volume, behind Bitcoin, Ether ( ETH ), and XRP , according to data from CoinMarketCap. Crypto market data daily view. Source: Coin360 The recent fall in Bitcoin witnessed selling from the small-to-medium sized whales, who  du...
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‘Nothing Goes up in a Straight Line’- S2F Creator Plan B Claims Bitcoin Price Drop a ‘Mid-way Dip’

Bitcoin prices have dropped below the $50k region during this week’s trading sessions sinking to a low of $47,555 on Friday. The popular creator of the stock-to-flow (S2F) bitcoin price model, Plan B has discussed the recent price dip and stressed that “nothing goes up in a straight line.” Plan B believes this price drop might be a “mid-way dip,” similar to the crypto bull runs in prior years. ‘Looks Like the Mid-way Dip,’ Says Plan B During the first week of March, Bitcoin.com News reported on Plan B’s popular but also controversial stock-to-flow (S2F) price model . In that report, Plan B was very confident and BTC ’s price surpassed the model by 26%. People believe that the S2F price model predicts bitcoin’s price reaching six-digit price ranges in the future. Since that report in March, however, BTC ’s price has dropped -26.72% after the crypto asset’s all-time high of $64,895 per unit. Plan B doesn’t seem phased by the drop and after prices fell, the S2F creator consoled hi...
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Bitcoin dominance teeters at 50% as ETH, altcoins gain traction

The Bitcoin dominance index has collapsed by 20 percentage points since the start of 2021. ETH, BNB and more speculative altcoin bets have seen their dominance rise over the same period. Bitcoin ( BTC ) dominance briefly fell below 50% last week for the first time since January 2018, sending a strong signal that more speculative bets on altcoins was on the rise. The Bitcoin dominance index, which measures BTC’s market capitalization relative to the broader cryptocurrency market, reached a low of 49.35% on Thursday, according to CoinMarketCap. At the beginning of 2021, BTC dominance was 70.68%. Ethereum ( ETH ), meanwhile, accounted for nearly 15% of the overall market at its peak on Thursday. ETH dominance is up nearly 4 percentage points since the start of 2021. ETH has outperformed BTC over the past seven days, charting an impressive 9.5% return. The second-largest cryptocurrency by market cap is down 10% from its previous all-time high whereas Bitcoin has corrected over 20%. ...
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Ripple’s Chris Larsen Believes Bitcoin Dominance Could Fall Over Proof-of-Work’s Energy Consumption

Ripple Labs cofounder Chris Larsen has a bone to pick with bitcoin and crypto networks that leverage proof-of-work (PoW). Larsen’s latest write-up explains that the crypto industry needs to reconsider PoW because of the effects on the environment. The Ripple executive believes that other types of consensus algorithms have been effective at being secure while only “using a tiny fraction of the energy.” Ripple Cofounder Believes Crypto Networks Leveraging Proof-of-Work Should Consider Alternatives While the global economy struggles after a year of Covid-19 lockdowns and business shutdowns, a great number of people are very interested in tackling climate change. Ripple Labs cofounder Chris Larsen has written a blog post about the environment and why the crypto industry should reconsider leveraging PoW. Larsen believes that if the Bitcoin ( BTC ) network’s verification model doesn’t get addressed, then at some point, it will lose out to a crypto asset network that does. “With more ind...
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The convergence between Tesla, SpaceX, renewable energy and Bitcoin mining

To establish an interplanetary economy, humanity needs a better financial system that decentralized cryptocurrency can offer. Tesla — a top 10 company in the Fortune 100 that is run by one of the world’s wealthiest people, Elon Musk — transferred $1.5 billion of its treasury cash into Bitcoin ( BTC ) in early February. Musk’s Bitcoin purchase startled traditional investors, who now had to understand how their investment in Tesla would relate to Bitcoin. Currently, much of Tesla’s revenue comes from selling surplus renewable energy credits, or RECs, which will dry up in the next several years as competing automakers produce their own zero-emissions vehicles and build up RECs with states that require them. In Tesla’s filing with the United States Securities and Exchange Commission, the company stated that it updated its investment policy to be more flexible in diversifying and maximizing returns on idle cash. As part of this plan, Tesla said it would invest in certain “alternative...
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Discovering financial literacy: Crypto leads retail investment charge

From interest to literacy, crypto appears to be at the heart of the emerging increase in financial education among retail traders. Momentum trading driven by retail investors seems to have taken on a new life since the onset of the global standstill occasioned by the ongoing coronavirus pandemic. Where celebrity challenges used to dominate viral trends on social media, issues relating to personal finance and investments seem to be as popular these days. This increasing interest in the financial markets from workaday folks has also spread to the crypto space as digital currencies posted sharp price recoveries from the slumps that characterized the Black Thursday crash of March 12, 2020. While interest is palpable, some gatekeepers question whether the new generation of retail investors is sufficiently knowledgeable to be investing in risky assets. But has the management of personal finances and investing become a new fashionable trend? COVID-19: Challenge and opportunity Trading a...
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