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Showing posts from May 1, 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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Dogecoin Nears All-Time Highs, Price Launches Higher After Elon Musk’s ‘Dogefather’ SNL Tweet

The infamous meme-crypto dogecoin has seen double-digit gains in recent days after Tesla’s Elon Musk tweeted about his upcoming Saturday Night Live appearance on May 8. On Wednesday, Musk tweeted “The Dogefather SNL May 8,” and a great number of people assume dogecoin will be mentioned to some degree on the show. Dogecoin Captures a $50 Billion Market Cap This weekend, dogecoin (DOGE) has started to surge again, as the token featuring the likeness of the Shiba Inu dog is nearing the asset’s all-time high (ATH). The last dogecoin ATH was two weeks ago when the cryptocurrency reached $0.44 per token. DOGE has jumped more than 45% during the last seven days, and 30-day stats show dogecoin gained 537.92% against the U.S. dollar. In recent times, Federal Reserve Chair Jerome Powell was asked about dogecoin at a press conference, and Shark Tank star Mark Cuban talked about DOGE with Ellen Degeneres. Just before the weekend, Tesla’s Elon Musk, who tweets about dogecoin often, mentio...
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UBS Chief Economist Says ‘Bitcoin Is Denied to Minority Groups Who Have Reduced Online Access’

A chief economist at UBS, the largest bank in Switzerland, sees a number of problems with bitcoin. In attempting to answer the question of whether the cryptocurrency defies the zeitgeist, he claims that “bitcoin is denied to those minority groups who have reduced online access.” UBS Chief Economist Sees Multiple Problems With Bitcoin Paul Donovan, Chief Economist of UBS Global Wealth Management, published a weekly update entitled “Does Bitcoin defy the Zeitgeist ?” on the UBS website Friday outlining a number of issues he sees with the cryptocurrency. UBS is the largest bank in Switzerland. “There is something weird about Bitcoin. Bitcoin seems to specifically defy the spirit of the age, in a way other cryptos do not,” he began, adding: Some suggest bitcoin is a safe haven from runaway inflation. But controlling supply does not guarantee value … Bitcoin has a history of extreme price fluctuation. “We cannot keep living on environmental credit and must become increasingly sustai...
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Visa Diving Into Cryptocurrency ‘in a Very, Very Big Way’ — CEO Outlines 5 Crypto Priorities

Visa CEO Al Kelly says that the payments giant is leaning into the cryptocurrency space “in a very, very big way.” He outlines five key areas of crypto opportunities that Visa is focusing on, stating that his company is “extremely well-positioned.” Visa Is Focusing on 5 Crypto Areas During Visa’s earnings call for the period ended March 31 last week, the payments giant outlined its commitment to the crypto space, highlighting five key areas the company is focusing on. Al Kelly, Visa’s chairman and chief executive officer, began by noting that there are “two market segments” his company sees in the crypto space. One is bitcoin, which he described as “primarily” an asset held by people. “We kind of think of them as the digital gold,” he continued. “Then there are digital currencies, including central bank digital currencies [CBDCs] and stablecoins that are directly backed by existing fiat currencies.” The CEO further revealed: Our focus is on five different opportunities that we s...
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Goldman Sachs Lists 19 ‘Crypto’ Stocks That Crushed S&P 500 Thanks to Bitcoin’s Surge

Investment bank Goldman Sachs has compiled a list of 19 large-cap stocks with cryptocurrency exposure that have massively outperformed the S&P 500. “On average, these stocks have dramatically outperformed the S&P 500 during the last several months alongside the surge in the price of bitcoin,” the firm wrote. 19 Stocks With Crypto Exposure That Outperformed S&P500 Goldman Sachs released a research note last week listing 19 large-cap U.S. stocks with blockchain and cryptocurrency exposure that outperformed the S&P 500. Ben Snider, the bank’s strategist and managing director, said: “Our screen yields 19 stocks with market caps greater than $1 billion … On average, these stocks have outperformed the S&P 500 by 34 percentage points year to date (+46% vs. +12%).” He noted that during the same time period, the price of bitcoin rose by 86% and Bloomberg Galaxy Crypto Index increased 156%. The Goldman Sachs strategist elaborated: On average, these stocks have dramatic...
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DeFi adoption on the Binance Smart Chain reaches new highs

Decentralized finance protocols on the Binance Smart Chain saw their token prices and total value locked rise toward new highs after a series of protocol upgrades and cross-chain integrations. Decentralized finance (DeFi) has taken a well-deserved break from the spotlight over the past couple of months after being one of the hottest sectors at the start of 2021, but recent growth on several top platforms may hint at another DeFi run in the near future.  While projects that operate on the Ethereum ( ETH ) network continue to deal with wild fluctuations in gas fees and transaction times, several that operate on the Binance Smart Chain (BSC) have seen an uptick in protocol activity and token value over the past week. XVS/USDT vs. CAKE/USDT vs. LINA/USDT 4-hour chart. Source: TradingView Three projects on the BSC that have seen increases in trading volume, price and activity within their DeFi protocols are Venus (XVS), PancakeSwap (CAKE) and Linear Finance (LINA). XVS/USDT The...
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Fundstrat Briefing Maintains Six-Digit Bitcoin Price Forecast, $10K Ethereum Target

Fundstrat Global Advisors’ most recent “Weekly Crypto Briefing” and the company’s lead digital asset strategist, David Grider, opines a target bitcoin price of $100k per coin is still “intact.” Moreover, Fundstrat believes that the price of ethereum will reach a $10k target, while the entire crypto-economy is “on pace to hit $5 trillion.” Fundstrat Maintains $100K Target for Bitcoin The independent financial research firm Fundstrat has a very bullish view of the current trajectory of cryptocurrency markets in the future. Fundstrat’s digital asset strategist, David Grider explains in the company’s weekly briefing covering digital assets that bitcoin (BTC) has rebounded after a “healthy cooling-off period last week.” Grider’s report further says that “the macro backdrop remains accommodative [and the] bull market remains intact.” The Fundstrat briefing stresses: We believe the bull market remains intact, and we are maintaining our $100k Bitcoin price target. One of the accommo...
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Bitcoin’s grim close, Tesla’s crypto sell-offs, Ether’s jaw-dropping surge: Hodler’s Digest, April 25–May 1

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 Bitcoin bulls attack $57,000, and altcoins rally as April comes to a close A sudden bullish surge took traders by surprise as April drew to a close, with Bitcoin staging a 10% rally in a matter of hours. Highs of $58,448.34 helped to erase recent losses but not entirely. Data from Bybt shows that BTCs price fell by 1.98% last month. Thats the first time the worlds biggest cryptocurrency has closed the month of April in the red since 2015. A contributing factor to upbeat market activity may have been linked to an astounding surge in revenues at MicroStrategy, a company that owns 91,000 BTC . MicroStrategy CEO Michael Saylor said: We will continue to acquire and hold additional Bitcoin as we se...
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What are Bitcoin mixers, and why do exchanges ban them?

Bitcoin transactions are easy to trace, except when the sender uses a mixer to muddle the link between their crypto address and real-life identity. One of the original allures of cryptocurrency is the narrative that using them provides the sender or recipient anonymously, but this is a common misconception within the sector.  In reality, Bitcoin ( BTC ) and many other cryptocurrencies are easily traceable. Proof of this came earlier this week when on April 27, U.S. authorities arrested the mastermind of Bitcoin Fog, a darknet-based BTC mixing service . Authorities were able to capture the operator after analyzing ten years of blockchain data. One doesn't need to be a forensic analyst to know that every single transaction is tied up to addresses on the blockchain and that they will stay there forever. While government agencies cannot determine the IP address or personal data from the address, these coins usually end up being used for products or service payments. This is the tr...
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VORTECS Report: Altseason indicator flips to Bitcoin even as Rally and Polygon surge

Timely NewsQuakes deliver market-moving events directly to Markets Pro subscribers, while a record-breaking VORTECS Score coincides with Polygon's remarkable price action. Crypto investors are scratching their heads this week, as a key indicator suggests that Bitcoin is about to take center-stage once more — even as Cointelegraph Markets Pro subscribers had the opportunity to take major profits on altcoins such as Rally (RLY), Polygon (MATIC) and Ampleforth (AMPL). Since Markets Pro was launched in January, the Altseason Analysis indicator has leaned heavily toward altcoins — and indeed, the performance of an evenly-weighted basket of the Top 100 altcoins has strongly outperformed holding Bitcoin since Markets Pro began tracking these metrics on January 3. Holding Bitcoin: 74% return Holding Top 100 altcoins: 432% return Best-performing time-based VORTECS™ strategy: 1,843% return Best-performing score-based VORTECS™ strategy: 1,367% return The Altseason Analysis, developed...
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Elon Musk, DOGE market maker? Meme currency pumps as SNL skit looms

No one man should have all that Much Wow-er. DOGE is set to make its pop culture debut.  As a weeklong pump carries the meme cryptocurrency up 12% on the daily to $.33 and a staggering 43.8% higher on a 7-day basis, some are now speculating the rally could be fueled perhaps in part by a social media tease from billionaire Elon Musk that he’ll be participating in a Saturday Night Live sketch titled “The Dogefather.”  The Dogefather SNL May 8 — Elon Musk (@elonmusk) April 28, 2021 Musk’s fascination with the digital currency dates back to last year, and he has recently only seemed to double-down on what may be an elaborate social media prank . While one of his companies, electric carmaker Tesla, added BTC to the balance sheet last year, the entrepreneur still seems to approach crypto generally with a touch of befuddlement — admitting that blockchain could be the future of human commerce, while also poking fun at its absurdities.  “What would be the most ironic out...
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Bitmain Cofounder Jihan Wu Says ‘Crypto Industry May Surpass the Internet’

During the Second 421 Wet Season Festival and Mining Ecology Conference the Chairman of the Bitdeer Group and cofounder of Bitmain, Jihan Wu spoke about institutions flocking to cryptocurrency mining. During the event Bitdeer outlined the company’s computing partnerships and its plans to make digital currency mining greener. Bitmain’s Cofounder Jihan Wu Is Optimistic About the Future of Cryptocurrencies and Mining Two weeks ago, Bitdeer Group, the corporate organization behind the web portal bitdeer.com , announced the firm has been granted funding for $12 million from the Hong Kong subsidiary of Genimous Technology , Genimous Investment. The funding aims to be allotted toward the development of Bitdeer’s cloud mining services. Bitdeer was founded by Jihan Wu and is backed by Sequoia Capital, IDG, and other financial institutions. At the Second 421 Wet Season Festival and Mining Ecology Conference, Jihan Wu, spoke to the crowd about institutions stepping into the digital currency...
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Ethereum breaks away: Several factors power ETH all-time high push

Ethereum hit new all-time highs after a rocky April. Developers and analysts delve into the factors behind ETH price surge. After a recent slump across cryptocurrency markets, Ether has surged to new all-time highs off the back of a number of important events and metrics. Overall, 2021 promises to be a crucial year for the Ethereum blockchain as developers continue to work toward the network’s integration with Eth2, which will see the blockchain part ways with its original proof-of-work consensus algorithm in favor of the touted energy and cost-efficient proof-of-stake consensus. While the technical details may not concern many day-to-day Ether ( ETH ) users and traders, the recent price action of ETH, coupled with a number of significant events, suggests that the momentum that has led to ETH hitting a new all-time high at the end of April could continue for some time. The price of ETH has risen by around 15% over the past week, which is also noted as the world’s second-biggest cry...
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Billionaire Mark Cuban’s Million-Dollar Bet: BTC or ETH to Outpace the S&P 500 in 10 Years

The American billionaire entrepreneur and television personality, Mark Cuban, has waged a bet with Creative Planning’s founder Peter Mallouk over the performance of cryptocurrencies versus the S&P 500. Cuban said on Twitter that the two should put $1 million into a stablecoin-based smart contract, in order to place a bet over the return performance of either ethereum or bitcoin in ten years against the Standard and Poor’s 500 index. Mark Cuban Backs His Statements With a $1 Million Bet With Peter Mallouk One of the investors on the ABC reality television series Shark Tank, Mark Cuban has been talking about cryptocurrencies a lot lately, and recently the billionaire told Ellen Degeneres about the potential of dogecoin (DOGE) . Being the owner of the National Basketball Association’s (NBA) Dallas Mavericks, Cuban now has the Mavs accepting digital currencies for goods and services. Just recently, however, Peter Mallouk the founder of Creative Planning, a financial management g...
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