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Showing posts from July 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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Nifty News: Embarrassing mistake in $5.4M NFT of web source code, Animoca raises $50M ...

Sotheby’s has made an embarrassing mistake in its $5.4 million NFT auction, Animoca brands has raised $138.88 in funding, and data shows limited collector numbers on SuperRare. Eagle eyed denizens of Crypto Twitter have spotted a mistake in the NFT of the web’s source code famously auctioned at Sotheby’s this week. The auction of “This Changed Everything” on June 30 with a $5.4 million sale and was offered by its inventor, Sir Tim Berners-Lee. The NFT dubbed consists of four elements: the original source code, an animated visualization of the code, a letter written by Sir Tim reflecting on his creation, and a digital poster of the full code. Despite the sale having a direct connection to Sir Tim, whoever it was that converted the original text file to HTML coding language made a mistake, with DeFi and NFT focused venture investor “Beanie” noting on Twitter that: The “internet source code” NFT that sold for $5.5M yesterday at Sotheby’s doesn’t even have the correct source code ...
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Create Your Own DAO Easily With xDAO – the Innovative DeFi Platform Powered by BSC

xDAO is an innovative DeFi platform which allows anyone to easily create Decentralized Autonomous Organizations – DAOs – for the joint management of crypto assets. The platform is powered by BSC, ensuring low transaction costs, high reliability and sufficient speed. An Easy Way to Create Your Own Decentralized Autonomous Organization Launched in April 2021, xDAO is the first and the only DAO-builder on the Binance Smart Chain (BSC). The protocol allows users to combine crypto assets from multiple partners and manage them in more efficient and secure way by using auto-generated smart contracts. A clear voting system also allows users to make collective decisions and be confident in their exact execution. xDAO offers a perfect solution to anyone who wants to easily pool resources to mange crypto assets as a DAO. The need for the service is virtually endless and includes potential users such as venture capital funds, public funds and foundations, new tech startups and freelance gro...
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Mintable platform raises $13M, will integrate 'carbon neutral' NFTs on XRP Ledger

The NFT marketplace plans to integrate Ripple’s XRP Ledger blockchain. An oversubscribed funding round has netted the Mintable nonfungible token (NFT) minting platform and marketplace a cool $13 million. The Series A funding round for the Singapore-based startup included some big name participants including Ripple, mobile and blockchain gaming developer Animoca Brands, and Metapurse, the world’s largest NFT investment fund. Ripple put out an announcement stating that Mintable plans to integrate the firm’s own blockchain, XRP Ledger (XRPL) which it says is already carbon neutrale and is “ideally suited to deliver a seamless experience for NFTs”. "Its environmentally friendly attributes will allow billions of NFTs to be minted, bought and transferred on the XRPL in a sustainable way." Mintable, which is currently an Ethereum-based platform, is among a number of crypto-related investments in Dallas Mavericks owner Mark Cuban’s burgeoning portfolio . The billionaire invest...
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Bitcoin Cash ABC rebrands to ‘eCash’, embraces proof-of-stake — and 2 decimal places

Bitcoin Cash ABC has rebranded to “eCash,” redenominated its token, and launched a proof-of-stake consensus layer. Bitcoin Cash ABC (BCHA), the embattled cryptocurrency project that has forked away from both Bitcoin and Bitcoin Cash, has rebranded to eCash (XEC). The project’s re-launch will see it integrate proof-of-stake consensus layer “Avalanche,” introducing staking and greatly increasing the speed of transactions. eCash will also reduce its decimal places down from eight to two, with lead developer, Amaury Sechet, stating : “No other money has eight decimal places. Why should crypto? Cryptocurrencies with a lower unit price also enjoy higher bull market appreciation. Because the eCash team is incentivized by both tech and price improvement, this improvement was a no-brainer.” With the upgrade, all users’ BCHA coins will be converted to XEC at a ration of one-to-one million. Chinese crypto media, Wu Blockchain, noted the project plans to support EVM-compatibility, signalli...
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San Marino approves VeChain eNFT vaccination certificate that's verifiable worldwide

San Marino has approved VeChain’s eNFT backed vaccination passport, dubbed the San Marino Digital Covid Certificate. The Republic of San Marino has approved VeChain’s NFT-based vaccination passport, which is reportedly verifiable worldwide. The small European nation with a population of just over 33,000 announced the approval of the 'Decree-Law No. 109 of 16 June' earlier today, which enables the rollout of a vaccination passport dubbed the “San Marino Digital Covid Certificate.” The partnership includes collaboration with DNV — which will provide digital assurance over the project. The vaccination passport contains a record of past infections, negative test results, and also provides a digital vaccination certificate. The digital vaccination certificate is issued upon request from approved facilities by San Marino health authorities. It is recorded on the VeChainThor public blockchain, by linking an enterprise nonfungible token (eNFT) to an individual’s Covid-related me...
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Softbank Invests $200 Million in Brazilian Crypto Trading Platform Mercado Bitcoin

The multinational conglomerate holding company headquartered in Tokyo, Softbank operates a Latin America Fund that invests in startups focused on identification technology, e-commerce, education, fintech and now cryptocurrency solutions. The Softbank Latin America Fund revealed on Thursday that it invested $200 million in the crypto-asset exchange Mercado Bitcoin. Mercado Bitcoin’s $200M Capital Raise: Softbank Funds One of the largest Series B funding rounds in LATM The Softbank Latin America Fund has invested in Mercado Bitcoin’s parent company 2TM Group . The announcement highlights that it is one of the largest Series B funding rounds in Latin America and Softbank’s largest crypto investment in the Latin American continent. The investment brings 2TM Group’s unicorn status to $2.1 billion and the eighth-most valuable fintech firm in Latin America. Mercado Bitcoin aims to leverage the financing to continue scaling operations and invest in more infrastructure. The company’s anno...
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Strike to offer ‘no fee’ Bitcoin trading, taking aim at Coinbase and Square

Jack Mallers takes on Coinbase and its “asinine” trading fees. Payments platform Strike has announced that it will allow U.S. customers to buy and sell Bitcoin with almost no trading fees from today. In an announcement on July 1, Strike founder and CEO Jack Mallers launched a salvo at leading U.S. cryptocurrency exchange Coinbase, stating that his platform will set out to be the “cheapest and easiest place on the planet to acquire BTC." The move also puts Strike in direct competition with Jack Dorsey’s Square and with PayPal, which started offering crypto assets within the platform to U.S. customers in November 2020. The announcement stated that the firm has launched the “Bitcoin Tab” enabling the ability to buy Bitcoin on Strike with “no fee outside of the market spread.” The Chicago-based payments firm stated that it would charge a maximum “execution cost” of around 0.3% for brokering BTC trades, looking to drop that to below 0.1% over the coming months as volume grows. ...
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Bitcoin’s active addresses fall below Ethereum's after 60% drop in six weeks

Ethereum flips Bitcoin by another metric as active addresses plummet. The number of addresses active on the Bitcoin network has crashed roughly 60% in the past six weeks from 1.3 million to roughly 500,000. The collapse in activity has seen Ethereum overtake Bitcoin by number of active addresses, with the Ethereum network hosting roughly 200,000 more active wallets than Bitcoin on July 27. It is the third time this month, with Ethereum also having overtaken Bitcoin by the metric June 5, 2021, and June 6, 2021. The previous time ETH was in the lead was at the beginning of 2017. Twitter analyst, Mr. Whale — known for his bearish takes — also noted that Bitcoin’s active addresses have fallen to their lowest level since April 2020 based on a weekly moving average. Bitcoin’s active addresses on the blockchain network just plunged to its lowest level since April 2020. This data is bearish. It shows demand for Bitcoin is drying up very quickly. pic.twitter.com/vdmwagbvtm — Mr. Whale...
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Ethereum bulls chase $2,200 ahead of Friday’s $230M ETH options expiry

A $2,200 Ethereum price would give bulls a $28 million advantage in this week’s ETH options expiry, but traders are more focused on the impact of the London hard fork in mid-July. Ether's ( ETH ) $1.5 billion monthly expiry on June 25 was slightly favorable for bears, and at the time, Cointelegraph reported that the $2,200 price was critical to eliminate 73% of the neutral-to-bearish put options.  However, bulls were not able to sustain their advantage because the expiry price was near $1,950. In the end, the protective put options outnumbered the neutral-to-bullish call options by $30 million. Fast forward to July, and after a noticeable 10% rally, Ether's price again struggles to sustain the $2,100 support. Bitcoin's negative 3.5% performance could partially explain last week's price move, but the London hard fork scheduled for this month could also be responsible. The proposal EIP-1559 will cap gas fees, making it more predictable for users. However, miners...
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JPMorgan report: Eth2 could kick-start $40B staking industry by 2025

CEO Jamie Dimon may not support crypto, but two JPMorgan analysts say proof-of-stake coin yields are attractive investments in this zero-rate environment. The launch of the energy efficient Ethereum 2.0 network will popularize the proof-of-stake consensus mechanism and make staking yields a more attractive source of income for both institutional and retail investors according to a new JPMorgan report. The authors estimate that holders of staked coins on PoS blockchains are currently generating some $9 billion in revenue annually from their staked holdings.  When Ethereum completes its transition from proof-of-work (PoW) to proof-of-stake (PoS) next year, the analysts expect payouts will more-than-double to $20 billion. They project staking yields across the blockchain industry to double again to $40 billion by 2025. The two senior analysts also compared the financial incentives with staked cryptocurrencie to cash, cash equivalents, and fixed income instruments like U.S. Treasu...
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Bitcoin Mining Council survey estimates a 56% sustainable power mix in Q2

According to the Bitcoin Mining Council, the global Bitcoin mining industry now uses 56% sustainable energy. The global Bitcoin mining sector has reached a 56% sustainable power mix in Q2, according to estimates from a Bitcoin Mining Council (BMC) report. “Bitcoin mining uses a negligible amount of energy, is rapidly becoming more efficient, and is powered by a higher mix of sustainable energy than any major country or industry,” a July 1 press release from the council stated. The estimate was based on a three question survey of just 32% of the miners on the network. It found respondents “are currently utilizing electricity with a 67% sustainable power mix” which it used as the basis for its 56% estimate across the overall network. One of the BMC ’s core aims is to provide transparent and verifiable data on renewable energy usage in the Bitcoin mining industry. However, the validity of the data and estimates resulting from BMC’s survey is unclear, as it relies heavily on volunt...
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Shanghai Man: Fight crypto like COVID-19 urges Global Times, hydro power plants popular ...

The country celebrates 100 years of Communist Party rule, pressure may be released as the economy goes back to status quo, Beijing subway now trialing e-CNY. This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. Flags and celebrations were the order of the day as the Chinese Communist Party celebrated its 100th birthday on July 1. Many had pinpointed this event as part of the motivation behind the recent crypto crackdowns, as prominent holidays prompt leaders to clean up their jurisdictions so that societal issues don’t distract from the celebrations. A strong and uniform financial system is certainly one of the areas that tends to be the focus prior to these large events. The good news for the FUD-sensitive members of the community is that after these events, regulation has a history of loosening, allow...
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NBA Star Spencer Dinwiddie’s Crypto-Fueled Social Media App Raises $7.5 Million

According to an announcement revealed on Thursday, Spencer Dinwiddie’s token application called Calaxy has raised $7.5 million in funding. The American professional basketball player for the NBA’s Brooklyn Nets has been a fan of blockchain technology for quite some time, as the point guard raised $1.3 million tokenizing his contract on the Ethereum blockchain. Hedera Hashgraph-Powered Calaxy Raises $7.5 Million The NBA star Spencer Dinwiddie’s token application Calaxy raised $7.5 million in funding according to statements sent to Bitcoin.com News. The capital raise announced this week stemmed from a deal that involved the acquisition of future CLXY tokens. Spencer Dinwiddie’s Calaxy App aims to be the “first social media super app designed for creators, by creators.” The financier Solo Ceesay is Calaxy’s COO and cofounder who said he saw an opportunity in creating a platform that helps monetize an online community. Calaxy leverages the enterprise-grade blockchain network Hede...
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US state dept urges El Salvador to be 'responsible' about Bitcoin adoption

Victoria Nuland said the United States was taking a "tough look at Bitcoin" following a major ransomware attack and suggested El Salvador take a similar approach. The U.S. Department of State’s Under Secretary of State for Political Affairs Victoria Nuland said El Salvador should ensure Bitcoin is well regulated under its new legal framework. In a Wednesday press conference following a meeting with President Nayib Bukele, Nuland said the United States was taking a “tough look at Bitcoin” following the ransomware attack on the Colonial Pipeline and suggested El Salvador take a similar approach. The country passed a law in June making Bitcoin ( BTC ) legal tender, legislation that will go into effect on Sept. 7. "I did suggest to the President that whatever Salvador chooses to do with regards to Bitcoin, you ensure that it is well regulated, that it is transparent and that it is responsible, and you protect yourself against malign actors," said Nuland. #ElSalv...
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NFT Marketplace Backed by Mark Cuban Raises $13 Million in Series A

The Mark Cuban-backed non-fungible token (NFT) marketplace Mintable has raised $13 million in a Series A funding round, according to an announcement on Thursday. The Singapore-headquartered Mintable, plans to use the funds to expand its offerings, as the application already features 700,000 NFTs minted on the Mintable platform. NFT Marketplace Mintable Raises $13 Million On July 1, 2021, the NFT marketplace Mintable announced that it had raised $13 million in a Series A financing round. Investment stemmed from well known investors like Metapurse, Ripple Labs, Animoca Brands, Metakovan, Doug Band the former advisor to Bill Clinton, and the founder of Shutterstock, Jon Oringer as well. In recent times, Mintable collaborated with the National Football League (NFL) quarterback Trevor Lawrence in an NFT collection series. Lawrence’s NFTs sold for over $400K and Mintable has also collaborated with the popular Japanese fashion brand Bathing Ape. “With the new injection of funds, Mintab...
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Torum, the Swiss Army Knife of the Crypto Ecosystem

If you ever wondered why crypto projects rise and fall so quickly, you are not alone. In fact, barely 7 months after the 2017 bull run ended, over 800 projects have ceased to exist like a puff of smoke. To understand the reason why 90% of crypto startups are going to fail, there are a couple of factors that need to be considered, including shortage of funds, over-reliance on hype, and immature business model. Nevertheless, without projects paving the path towards innovations, there would be no DeFi, IDOs, or even NFTs. The entire cryptocurrency community would not even exist, simply because there are no projects around to support it. However, the growth is going to be challenging to achieve every time the crypto winter happens. Investors are flushed out from the market, whereas projects are left on their own to sustain themselves for the coming few years, until the next bull run. This presents a question of survival to every crypto project in the industry, which begs the questio...
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3 reasons why analysts are turning bullish on Curve Finance (CRV)

Attractive yields for stakers, protocol revenue and competition among DeFi protocols have analysts pointing to a bullish long-term view for Curve Finance. Choppy markets after a major pullback offer ample time to take a survey of the cryptocurrency landscape and find solid projects with improving fundamentals that have caught the attention of analysts and tokenholders.  One project that has piqued the interest of many, including researchers at Delphi Digital, is Curve Finance, a decentralized exchange for stablecoins that focuses on providing on-chain liquidity using advanced bonding curves. CRV/USDT 4-hour chart. Source: TradingView Three reasons why Curve DAO Token (CRV) is attracting the attention of analysts include attractive yields offered to tokenholders who participate in staking, competition for CRV deposits on multiple decentralized finance (DeFi) platforms and healthy earnings for the Curve protocol as a whole despite the market downturn. Yield opportunities att...
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Blockware Mining raises $25 million to triple hash rate from Kentucky facility

Blockware raised $25M in a second oversubscribed round to expand bitcoin mining operations in a state with some of the lowest U.S. industrial electricity costs. Blockware announced Thursday that they have raised $25M in a second oversubscribed fundraising round. They plan to use the funds to expand their bitcoin mining operations in Kentucky, and will also install 8,000 more bitcoin mining rigs on its Paducah campus, where it recently purchased 5 acres of land. The company has already purchased the necessary rigs, and 6,000 more that it has slotted for resale operations to other miners. Funds from previous seed rounds paid for the purchase of all 14,000 rigs. “Currently, only an estimated 10% of the hash rate worldwide is generated in the U.S. By providing low hosting rates, Blockware Mining will create better worldwide distribution of the Bitcoin network while making the hash rate in the U.S. more globally competitive.” The fast-growing mining company plans to more-than-treble i...
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World Wide Web Inventor Tim Berners-Lee Sells NFT for $5.4M — ‘Embarrassing’ Coding Error Spotted in NFT

Sir Timothy John Berners-Lee, the English computer scientist who is well known for inventing the world wide web has sold a non-fungible token (NFT) in an online auction hosted by the auction house Sotheby’s. The NFT is basically a video of the World Wide Web’s source code created in Python and the collectible sold for $5.4 million. Tim Berners-Lee and Sotheby’s Auction NFT for $5.4 Million This week, Sotheby’s revealed that Tim Berners-Lee sold an NFT of the original source code for the world wide web for a whopping $5.4 million. Before the NFT auction, Berners-Lee told the publication the Guardian: “I’m not selling the web – you won’t have to start paying money to follow links. I’m not even selling the source code. I’m selling a picture that I made, with a Python program that I wrote myself, of what the source code would look like if it was stuck on the wall and signed by me.” Sir Timothy John Berners-Lee, the English computer scientist who invented the world wide web. Berner...
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