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Showing posts from May 10, 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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Dfinity's ICP token sees violent first day of trade on major exchanges

Dfinity’s “Internet Computer” tokens are finally tradable after five years in the making. The launch of the Internet Computer utility token has seen a wild first day of trading after its long-awaited debut on exchanges. The ICP token from Dfinity was listed on Coinbase Pro and several leading exchanges including Binance, Huobi Global, and OKEx on May 11. Over four hours, prices for the newly launched token have swung from an early intraday high of $700 down to $250, before recovering 70% over 10 hours to trade for $425 at the time of writing. Coingecko estimates $1.8 billion worth of ICP tokens have traded just 14 hours since trade commenced. ICP/USD chart, 24 hours: Coingecko The Internet Computer is a decentralized blockchain project by the Dfinity Foundation. Dfinity describes the protocol’s mission as expanding the functionality of the public internet from a network that connects billions of people through standard protocols to a publicly accessible global supercomputer ...
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Crypto Twitter decodes why Zuck really named his goats 'Max' and 'Bitcoin'

Mark Zuckerberg sent Bitcoin hodlers into a frenzy after naming his new pet goats “Bitcoin” and "Max." Mark Zuckerberg, the Co-founder of Facebook has riled excitement across the crypto community after taking to social media to announce two of his pet goats have been named “Bitcoin” and “Max.” Zuckerberg announced the curious names for his pet goats in a May 11 Facebook post stating: “My Goats: Max and Bitcoin.” Crypto-Twitter has been whipped into frenzied speculation in response to the goats' names, with analyst LilMoonLambo Tweeting to their 97,000 followers: “You have two weeks to accumulate as much $BTC as you can before Mark Zuckerberg announces that he and Facebook have purchased Bitcoin during their annual shareholders meeting... The pump will be glorious.”  The co-founder of Morgan Creek Digital , Anthony Pompliano, chimed in to ask whether Zuckerberg is “Telling us he is a bitcoin maximalist with the names of his goats? Influencer “Thinking Crypto” was a...
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Japanese Assembly Members Seek to Make Tokyo a ‘Cryptocurrency Trading Center’

Japan is steadily becoming an area of interest for the cryptocurrency industry, and a politician in the capital city is looking to strengthen the trend. A member of the Tokyo Metropolitan Assembly wants to transform the Japanese capital into a “trading center” for cryptos. Blockchain as a ‘Growth Strategy’ to Create Industry Hub Yuu Ito, the third term assembly member in question, commented about the possibility of bolstering the city’s financial sector by increasing its involvement with the digital asset business. The statement comes after his recent support of economic plans unveiled by Yuriko Koike, governor of Tokyo. Ito also pointed out challenges Tokyo faces in order to compete with other major financial hubs, like London, Macau, and Hong Kong. He believes high rates in bitcoin ( BTC ) tax might have deterred investors and companies from being active in Japan, and that significant action is necessary to advance the industry domestically. Nobuko Irie, a fellow Tokyo Metropoli...
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Ether balances on centralized exchanges fall to lowest level since June 2019

Glassnode asserts that Bitcoin investors have been converting BTC into Ether during May. According to analysis from on-chain analytics provider Glassnode, the sum of Ethereum on exchanges has fallen to its lowest level for almost two years. Glassnode estimates that just 13.3 million Ether is currently held on centralized exchanges, the lowest it has been since June 2019. As such, centralized platforms hold roughly $52.4 billion worth of ETH or 11.5% of Ethereum’s entire supply. #Ethereum $ETH Balance on Exchanges just reached a 23-month low of 13,384,235.936 ETH View metric: https://t.co/1dCpD2ey8E pic.twitter.com/FGZHqXr3Pa — glassnode alerts (@glassnodealerts) May 10, 2021 The number of Ether on centralized exchanges has fallen 30% in 9 months since peaking at 19 million ETH during September 2020. A low balance of ETH on exchanges is typically understood to be bullish for the markets as it drives a reduction in supply relative to demand on popular trading platforms. Dwi...
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NFL Star Quarterback Tom Brady Hops on the Bitcoin Bandwagon, Turns on Laser Eyes

Tom Brady, who is widely known as the greatest quarterback of all time, has hopped on the bitcoin bandwagon. The seven-time Super Bowl champion has added laser eyes to his Twitter profile. Tom Brady Rumored to Be Loading up on Bitcoin Football star Tom Brady has hopped on the bitcoin train. The Tampa Bay Buccaneers quarterback, who plays in the National Football League (NFL), is widely considered to be the greatest quarterback of all time. He became the G.O.A.T. (greatest of all time) in NFL history after winning his sixth Super Bowl two years ago. Brady has since won another Super Bowl. Responding to a tweet by Blockworks’ Jason Yanowitz that says: “Rumor has it Tom Brady is loading up on bitcoin. Retweet if you think the GOAT should turn on laser eyes. Let’s make it happen.” A few hours later, Brady replied : “Hmmmm should I change it??” Without revealing whether he has bought bitcoin, the star quarterback proceeded to change his profile picture on Twitter to one with laser eyes...
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Switzerland’s Largest Bank UBS Mulls Over Cryptocurrency Services

Swiss investment bank UBS Group is reportedly exploring offering cryptocurrency services to its wealthy clients. UBS joins a growing list of major investment banks that are either already offering or planning to offer crypto investments to their clients, including Morgan Stanley, Goldman Sachs, and Citigroup. UBS Group AG is exploring “offering crypto investments to rich clients,” Bloomberg reported Monday, citing people familiar with the matter. According to the publication, the company is in the early stages of planning its offerings. Several crypto investment options are being considered but any offering would be a small portion of the clients’ total wealth because of the volatility, one of the people told the news outlet. Some of the options being explored include investing through third-party investment vehicles. UBS said in a statement: “We are monitoring the developments in the field of digital assets closely. Importantly, we are most interested in the technology which ...
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Student Coin Now Offers STC Staking – Will It Change the Future of the Digital Economy?

Investors can now stake STC, the utility token powering the Student Coin ecosystem, and earn up to 13% APY. Showing the amazing potential of the community backing the project, over 1,000,000,000 tokens were staked in less than 12 hours after STC staking was launched. STC Now Offers Staking, Much More to Come Student Coin , a platform that allows users to easily design, create, and manage personal, corporate, NFT, and DeFi tokens, launched staking on May 6th and was immediately welcomed with great demand. In fact, over 1,000,000,000 tokens were staked in less than 12 hours after STC staking went live. Staking can be done directly via the STC Wallet , where holders can now choose between a 30 days, 90 days, and 180 days staking pools with additional STC-based token mining program. When you stake your STC tokens, you can earn up to 13% APY, and mine 10 additional STC-based tokens. The first two tokens to be airdropped for the mining stakers are Smart Marketing Token ($SMT), and Smart ...
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Dogecoin imitator Shiba Inu pumps 146% on Binance listing

The DOGE imitator gained nearly 1,000% in the past 48 hours as Binance announces it’s making room for SHIB despite Vitalik Buterin owing 50% of the supply. Having emerged with the self-applied moniker of “Dogecoin Killer,” the latest cryptocurrency to succeed on laughs alone is making its way to Binance. Shiba Inu (SHIB) burst into CoinMarketCap’s top 20 rankings just two days ago, likely a response by traders to the hype surrounding Dogecoin ( DOGE ). Within 48 hours, the SHIB token went from a valuation of $0.000003 to $0.000032 — a 966% increase, which added to over 2,300,000% growth since the start of the year. When Binance announced it would list SHIB in its innovation zone (a high-risk trading feature) on Monday morning, the token’s valuation more than doubled in the space of two hours, climbing from $0.000013 to $0.000032. The Shiba Inu website claims 50% of the SHIB token supply has been irretrievably locked into Uniswap to provide liquidity. The other 50% has been sent to...
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Spain’s national soccer team to launch fan token on Turkish platform

La Roja is launching a fan token in partnership with Turkish blockchain platform Bitci Technology. The Spanish national soccer team will launch the world’s first national soccer team fan token thanks to a partnership between the Royal Spanish Football Federation and the Turkish blockchain platform Bitci Technology. The token will launch on Bitcichain, and all tech infrastructure will be provided by Bitci Technology. According to a recent announcement, Bitci Technology will be the exclusive blockchain partner of the team during the initial three-year partnership, followed by an optional two-year period. The partnership also makes Bitci a jersey logo sponsor of the Spanish national team. World-famous football players such as Sergio Ramos, David de Gea, and Paco Alcácer are going to wear Bitci-branded jerseys during training. Bitci Technology founder Çağdaş Çağlar noted the Spanish national team’s massive influence over world soccer, stating: “This partnership marks the first blockch...
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One of Africa’s Oldest Wildlife Conservancies Accepts Crypto Donations

One of Africa’s biggest wildlife conservancies, the Virunga National Park, which is situated in the Democratic Republic of Congo (DRC), says it now accepts donations via cryptocurrency. It says such donations will be used in helping to protect DRC’s famed “mountain gorillas and the ecosystems they inhabit.” Tax Efficient Way to Support Virunga In a statement recently published on its website, Virunga, which is home to one of Africa’s “oldest national park and most biologically diverse protected area,” says it will initially accept donations in the form of 12 cryptos. Some of the accepted cryptos include BTC , BCH and ETH . The statement also explains why well-wishers should consider donating via crypto. It reads: In many countries, donating cryptocurrency is classed as a non-taxable event, meaning you do not owe capital gains tax on the appreciated amount and can deduct it on your taxes. This can make bitcoin, ethereum and other cryptocurrency donations one of the most tax-effic...
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Canadian Bitcoin ETF issuer seeks ‘green BTC’

Ninepoint will allocate part of its management fees to even out the carbon footprint of Bitcoin in its exchange-traded fund product. Ninepoint Partners LP, one of Canada’s Bitcoin ( BTC ) exchange-traded fund issuers, has announced plans to offset the carbon footprint of its BTC ETF product. According to a release issued on Monday, Ninepoint has inked a partnership with carbon offsetting service provider CarbonX. As part of the partnership, Ninepoint will dedicate an undisclosed portion of its management fees to purchase carbon credits to neutralize the environmental impact of the Bitcoin mining process of the BTC held in its fund. As previously reported by Cointelegraph, Ninepoint announced plans to convert its Bitcoin trust to an ETF back in March, with the fund’s prospectus filed with regulators the following month. The partnership will also see the Crypto Carbon Ratings Institute providing scientific estimates on Bitcoin mining energy consumption. The purchased carbon credi...
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Swiss banking giant UBS to reportedly offer rich clients crypto investments

Crypto investment offerings for wealthy clients will be limited to a small fraction of their portfolios, due to the volatility of the asset class, sources say. UBS Group AG is exploring various ways to offer its wealthy clients the possibility of investing in digital assets, anonymous sources claim. A new report from BNN Bloomberg suggests that investment opportunities in crypto will remain limited to “a very small portion of the clients’ total wealth” due to concerns over the volatility of the cryptocurrency markets.  Sources familiar with the Swiss firm's plans suggest that investments in digital assets via third-party investment vehicles could be one of the options open to clients. None of the sources have agreed to be identified due to the private nature of UBS' plans, which reportedly remain in their early stages.  UBS' CEO Ralph Hamers, who replaced Sergio Ermotti in 2020 to the surprise of many , has a reputation for being strong on digitalization and automation...
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Litecoin price hits $400 all-time high but LTC rally at risk of overheating

Litecoin price achieves $400 amid an overall crypto market boom. Litecoin ( LTC ) has broken the $400 mark reaching a new all-time high price of $414 on Bitstamp on May 10.  The problem with buying Litecoin is that it has become too expensive in a very little period. The world’s tenth-largest cryptocurrency by market capitalization is worth 215 percent more than it was at the beginning of this year, soaring from $124.42 to a new record high of $413.90. Its massive rally has beaten traditional markets on a year-to-date (YTD) timeframe, with many independent analysts now predicting the move to extend towards $500. Rotational trading Eye-popping returns in the Litecoin market came on the heels of a broad upside move in the cryptocurrency market. The silver crypto’s top altcoin rivals, including Ether, XRP, Cardano , and many others, posted better profits, with Dogecoin, a joke cryptocurrency, rising by more than 17,000 percent YTD at one point in time. Jason Lau, chief operatin...
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Analyst Explains Why Ethereum Is Rallying, Hitting All-Time Highs

Investment management firm Ark Invest has highlighted three reasons why the price of ethereum has been hitting record highs. The firm cited increased institutional interest, strong on-chain signals, and imminent protocol upgrades as the key reasons. Why Ethereum Has Been Going Up ARK Investment Management, also known as Ark Invest , published a research note last week explaining three key reasons why ethereum is breaking out to new all-time highs. The first reason the firm’s analyst mentioned was “Increased institutional interest.” Ark Invest pointed out that a number of ether exchange-traded funds (ETFs) have launched in Canada, making it easier for institutional investors to gain exposure to the price of ETH . The note adds: Institutions and companies like European Investment Bank and Visa have validated the Ethereum blockchain by announcing issuance and settlement use cases, respectively. At the end of April, the European Investment Bank (EIB), a nonprofit organization and l...
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Alipay set to allow users test China's digital yuan

China’s e-payment giant will allow some users to link their accounts to the country’s digital yuan app. Alipay, the mobile payment platform owned by Ant Group, is set to allow some of its users to participate in the emerging digital yuan commerce ecosystem. According to a report by China Securities Journal on Monday, this new feature is a result of MYbank’s participation in the country’s expanded digital currency electronic payment testing protocols. The news further cements Ant Group’s participation in China’s central bank digital currency project. Indeed, the conglomerate owns a majority stake in MYbank — one of the largest internet-only banks in the country. In a statement quoted by CNBC, Ant Group confirmed its involvement in the digital yuan trials, adding: “As one of the participants in the trial of the e-CNY, Ant Group’s associate MYbank will steadily advance the trial pursuant to the overall arrangement of the People’s Bank of China. Ant Group, together with MYbank, wil...
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Google search interest in Dogecoin outstrips Bitcoin for first time

For the first time, more people globally are searching for news surrounding the meme cryptocurrency Dogecoin than Bitcoin. Global public interest in Dogecoin ( DOGE ), as measured by internet search statistics, has exceeded that of Bitcoin ( BTC ) for the first time. According to data from Google Trends, values assigned to each cryptocurrency for May 2–8 stand at 56/100 points for DOGE versus 48/100 for BTC.  As the chart below shows, search interest in DOGE over the past 12 months has often closely correlated with peaks and troughs in public interest in Bitcoin, although the interest in the two coins has previously diverged. This week, however, shows not only a strong non-correlation but a higher level of interest in DOGE in absolute terms. Google Trends search data comparison between DOGE (red) and BTC (blue) over the past 12 months As previously reported, DOGE has had nothing if not a dramatic 2021. In mid-April, the coin gained 80% in value in just one day to cap 5,000% ...
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Former Finance Secretary Urges Indian Government to Encourage Crypto Services, Regulate Cryptocurrencies

Former Finance Secretary Subhash Chandra Garg, who headed the committee that drafted India’s cryptocurrency bill, says that the government should not ban cryptocurrencies but regulate them instead. He further urges the government to encourage crypto services. Indian Government Should Regulate Cryptocurrencies and Encourage Crypto Asset Services Subhash Chandra Garg said Thursday at a virtual event organized by industry body Assocham that the Indian government should regulate cryptocurrencies instead of prohibiting them, PTI reported. He elaborated: I don’t think we still have full clarity and understanding about how to regulate cryptocurrencies … Regulate, control cryptocurrencies but allow the crypto assets, encourage the crypto services. Garg, who resigned from his government position in July 2019, headed the interministerial committee (IMC) that drafted the cryptocurrency bill entitled “Banning of Cryptocurrency and Regulation of Official Digital Currency Bill, 2019.” ...
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Dogecoin an ‘invaluable fad‘ that will help the cryptocurrency space, says exec

Yo-yo, Tamagotchi... Dogecoin! The rapid emergence of Dogecoin ( DOGE ) as the fourth-largest cryptocurrency by market capitalization has led some to perceive the meme coin as a mere fad — something very much here today, but doomed to be gone by tomorrow. But in the unlikely event that Dogecoin actually disappeared tomorrow, its lasting impact on the cryptocurrency space leaves a legacy far beyond what yo-yos and Tamagotchis supplied to bored kids in the pre-internet days. Founder of Bitcoin Centre NYC and the Zap Protocol, Nick Spanos, believes Dogecoin is indeed a fad — but an invaluable one. “DOGE is a fad, within a growing movement that is here to stay,” said Spanos, adding that the hype created by Elon Musk’s appearance on Saturday Night Live , which resulted in a 38% price crash , would ultimately bring more eyes to legitimate projects in the crypto space. Dogecoin’s perceived lack of utility stems from the unequal distribution of its coin supply, its inflationar...
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Record fundamentals meet $4K Ethereum: 5 things to watch in Bitcoin this week

Bitcoin bulls face off with altcoins after the largest cryptocurrency's latest rejection at $60,000 resistance. Bitcoin ( BTC ) is off to yet another fighting start on Monday, hitting $59,500 — is this the week we see $60,000? After a promising but restrained weekend, BTC/USD is once again back to beating out resistance as major markets reopen. Given the strength of underlying technicals and buyer demand, bulls may have cause for celebration in the next few days. Resistance, however, has kept them in check for weeks. Cointelegraph presents five things which may help to shape Bitcoin price action. Dollar down on oil pipeline attack Stocks began on a familiar positive note in Asia as traders betted on existing highs continuing to hit. A fresh all-time high for the S&P 500 index last week ensured a buoyant mood, with the coronavirus pandemic doing nothing to sour what have been historic returns for various markets. BTC/USD vs. S&P 500 chart. Source: Tradingview Com...
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South African Tax Collector Targeting Crypto Investors in Its Bid to Raise Extra Revenues

Latest reports from South Africa suggest that the country’s tax agency will now be targeting cryptocurrency investors as it attempts to increase the total value of revenues collected. Alongside high net worth individuals and offshore investors, digital currency holders now constitute an area that is “likely to yield much of the extra tax” for the revenue collector. Crypto Investors Unaware of Tax Liabilities However, according to a report , many South African cryptocurrency holders are “oblivious of the fact that trading in cryptocurrency renders them liable for tax.” The report, which relies on the expert opinion of Thomas Lobban, says the “South African Revenue Service (SARS) (currently) has cryptocurrency trading very much in its sights.” Further, Lobban who is the legal manager at Tax Consulting South Africa said: As with any other asset class, investors must understand their tax obligations in relation to their crypto investments, and plan accordingly. If they do not, then c...
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