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Showing posts from July 3, 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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Binance’s Troubles Grow as Thailand Files Criminal Complaint — Similar Warnings by Cayman Islands, UK, Japan

A growing number of regulators worldwide have come after Binance. Thailand’s Securities and Exchange Commission (SEC) filed a criminal complaint against the crypto exchange after the authorities in the Cayman Islands, the U.K., and Japan issued similar warnings on Binance and related companies. Thailand’s Regulator Files Criminal Complaint The Thai Securities and Exchange Commission announced Friday that it “has filed a criminal complaint against Binance … with the Economic Crime Suppression Division of the Royal Thai Police (ECD).” According to the SEC: Binance has solicited the Thai public and investors to use its services, either via its website or Facebook page: Binance Thai Community. The securities regulator stated that it issued a warning letter to Binance on April 5 but the company failed to submit a response within the specified time. The SEC said that Binance is operating a crypto exchange business without a license. The company is therefore “liable to criminal sancti...
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JPMorgan Predicts When Bitcoin Bear Market Will Be Over

Global investment bank JPMorgan has predicted that the bitcoin price slump will likely be over when the cryptocurrency’s dominance rises back above 50%. “I think that’s another indicator to watch here in terms of whether this bear phase is over or not,” the firm’s analyst explained. JPMorgan’s Bitcoin Market Prediction JPMorgan analyst Nikolaos Panigirtzoglou has shared his view of when he expects the current bitcoin bear market to be over. In an interview with CNBC on Tuesday, the analyst explained that the bitcoin price slump will likely end when the cryptocurrency’s market share of all cryptocurrencies climbs back above 50%. He explained: A healthy number there, in terms of the share of bitcoin as a percentage of the total cryptocurrency market cap, is 50% or above. I think that’s another indicator to watch here in terms of whether this bear phase is over or not. “It was like 60% back in the beginning of April,” the JPMorgan analyst recalled, adding that bitcoin’s relatively ...
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Cardano Joins Grayscale Digital Large Cap Fund as Third Biggest Component

Cardano has been added to Grayscale Investments’ large-cap cryptocurrency fund. It is now the third-largest component of the fund after bitcoin and ether. Grayscale Investments, the world’s largest digital currency asset manager, announced Friday the addition of cardano to its Digital Large Cap Fund (OTCQX: GDLC). Grayscale described this fund as “a passive, rules-based strategy that seeks to provide exposure to 70% of the digital asset market.” The announcement followed a quarterly review and rebalancing of the fund. The company explained: In accordance with the fund’s construction criteria, Grayscale has adjusted the fund’s portfolio by selling certain amounts of the existing fund components in proportion to their respective weightings and using the cash proceeds to purchase cardano ( ADA ). At the end of the day on July 1, the Digital Large Cap Fund’s components comprised 67.47% bitcoin ( BTC ), 25.39% ethereum ( ETH ), 4.26% cardano ( ADA ), 1.03% bitcoin cash ( BCH ), 0....
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‘Make or break’ for Bitcoin, Binance under pressure, Strike attacks Coinbase: Hodler’s Digest, June 27–July 3

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 mining difficulty just fell by a record 28% but will this help prices recover? Bitcoin has recorded its biggest mining difficulty drop of nearly 28% , but one model suggests prices will not bottom until October. The drop is in response to the ongoing miner migration out of China and the subsequent loss of hash rate and this could deliver a profit boost for the miners still at work. Bitcoin has now closed its third red monthly candle in a row, meaning BTC/USD is now the furthest away from its stock-to-flow model estimates in more than two years. Data shows the worlds biggest cryptocurrency fell 40.36% in Q2 the biggest quarterly plunge in over three years. Plan B said the next six mon...
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Finance Redefined: The $500 million bet on ETH 2.0 making waves! June 24-July 1

We don’t know the identity of the whale that’s deposited a half billion into Ethereum, but a look at the chain tells us a whole lot about them. Whales can be bashful and clever creatures, but when you manage to catch one in action it’s a sight to behold — consider, for instance, the single entity responsible for depositing 100k ETH into the Eth 2.0 deposit contract from 133 different addresses last week. Deposits into the ETH 2.0 staking contract have been picking up as of late, with  100k ETH pouring into the Eth 2 deposit contract on a single day last week . It caught the attention of the crypto space and, like most stories about on-chain activity, looking at the actual transactions and associated accounts can shed light on what went down. In this case, it seems the 100k ETH influx can be traced back to a single Ethereum address and a wallet that is responsible for funnelling upwards of 258k ETH ($541.8 million at 2100 per ETH) into the deposit contract. Searching for the meg...
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NBA’s Portland Trail Blazers Partner With Crypto Cashback Company Stormx

In 2021, there’s been a plethora of cryptocurrency-related announcements about professional sports teams, leagues, and famous athletes. On July 1, the National Basketball Association’s (NBA) Portland Trail Blazers announced the professional basketball team has partnered with the cashback blockchain firm Stormx. Portland Trail Blazers Uniforms to Feature Crypto Cashback Firm’s Logo The NBA’s Trail Blazers revealed this week that the basketball team has entered a deal with the blockchain company Stormx . Founded in 2015, the Stormx project is basically a crypto cashback provider that also features a native token called STMX. The Trail Blazers and the NBA’s own publication, hosted on nba.com, claim the deal between Stormx and the team is a “never-before-seen partnership.” The Stormx logo will be featured on the team’s uniform. Photo via nba.com. Essentially, Stormx will be the Portland team’s first International Rights Partner that is meant to “engage fans around the globe.” Storm...
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Cryptocurrency and the rise of the user-generated brand

When looking at cryptocurrencies from a marketing perspective, they present a significant paradigm shift in branding. In the whirl of excitement and debate over where cryptocurrencies are going and whether they are legitimate, sustainable and prudent investments, there is an overshadowed conversation of interest to those in marketing: Are Bitcoin ( BTC ), Ether ( ETH ), Cardano’s ADA , Litecoin ( LTC ), XRP , Dogecoin ( DOGE ), etc., crypto brands? And, if so, how are those brands created, and what role do they play in each coin’s adoption? Or, for that matter, how does branding collectively contribute (or detract) from the legitimacy of a cryptocurrency as it seeks increased mainstream acceptance/use? Related: Decentralization vs. centralization: Where does the future lie? Experts answer To begin to answer that, consider David Ogilvy’s — a British advertising tycoon, known as the “Father of Advertising” — definition of a brand: “The intangible sum of a product’s attributes.” Th...
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South African Court Grants Final Liquidation Order Against the ‘Biggest Cryptocurrency Scam in 2020’

A South African judge, Justice Alma de Wet, has ruled in favor of granting a final liquidation order against Mirror Trading International (MTI), the country’s biggest bitcoin scam in the past year. Nevertheless, the judge postponed a ruling on an application by MTI liquidators to have the company declared an unlawful business to September 8, 2021. According to a report , interested parties that are opposed to the liquidators’ intervening application now “have until July 30 to file their answering affidavits.” On the other hand, liquidators “have until August 13 to file responding affidavits and must file their heads of argument before 24 August.” Meanwhile, the latest court ruling, which came almost six months after the provisional liquidation order was granted, represents a victory for liquidators who have faced opposition from MTI shareholders led by Clynton Marks. As previously reported by Bitcoin.com News, Marks, a 50% shareholder in MTI, argued against liquidation claiming thi...
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To change the art industry, NFTs must be more secure

A more secure nonfungible token infrastructure holds the key to disrupting the current art world. 2021 has already seen a number of eye-catching milestones reached for the nascent nonfungible token (NFT) market, which has seen an increase in value of 2,100% from Q4 2020, with consumers spending over $2 billion. While headlines have been dominated by record-breaking sales, what’s often overlooked is the growing demand from new investors. According to NonFungible, which tracks NFT transactions, there were 73,000 NFT buyers and 33,000 NFT sellers in Q1. Although these numbers may seem impressive, they are in fact relatively small compared to the global art market, which was valued at $64.7 billion in 2018, with the United States, China and the United Kingdom accounting for 84% of the global market. The traditional infrastructure for the art market, dominated by dealerships and auction houses, already seemed dated in an increasingly online and globalized world, where demand in emerg...
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London fork enters testnet on Ethereum as difficulty bomb sees delay

As Ethereum’s London upgrade launches on the Ropsten testnet, mainnet anticipation for stakers and miners increases. The Ethereum network witnessed the deployment of its London upgrade on the Ropsten testnet on June 24. This upgrade consists of the highly anticipated Ethereum Improvement Proposal (EIP) 1559.  Following the launch on the Ropsten testnet, the London upgrade will be deployed on Ethereum’s Goerli, Rinkeby and Kovan testnets at weekly intervals. This is one of the important steps in the roadmap to implement a proof-of-stake (PoS) consensus on the Ethereum network, also known as Ethereum 2.0. The London upgrade brings five EIPs that are going to be deployed on the testnets — EIP-1559, EIP-3198, EIP-3529, EIP-3541 and EIP-3554. The hotly debated EIP-1559 proposal is a transaction pricing mechanism that consists of a fixed per-block network fee that is burned and allows the dynamic expansion and contraction of block sizes to address the congestion issue. Changes p...
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Bitcoin Still Commands the 9th Largest Market Capitalization in the World

Despite the drop in value during the last three months, the leading crypto asset bitcoin is still the ninth most valuable asset in the world in terms of market capitalization. Moreover, bitcoin could flip some of the world’s most valuable assets in the future, as the crypto asset is 67% away from turning over tech giant Google’s overall valuation and other valuable companies and commodities. Bitcoin: The Ninth Most Valuable Asset in the World in Terms of Market Capitalization Bitcoin is still the ninth most valuable asset in the world according to assetdash.com statistics, the market capitalization web portal for global assets. Three months ago, bitcoin ( BTC ) touched an all-time high (ATH) at $64,895 and the price is still more than 45% below that range. The leading crypto asset also touched a low ten days ago at $28,600 per unit but managed to recover around 14% of the losses since then. Of course, at ATH bitcoin held a much higher position on assetdash.com’s list, outpacing co...
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South Korean Crypto Exchange Bithumb Bans Employees from Trading Bitcoin

One of the largest South Korean cryptocurrency exchanges, in terms of trade volume, Bithumb, has announced that employees are banned from trading bitcoin on the exchange platform. The company’s chief executive officer revealed the decision in a Bithumb newsletter focused on improving “transaction transparency.” Bithumb Bans Employee Bitcoin Trading – Will Monitor for Individuals Who Don’t Comply The cryptocurrency trading platform Bithumb has revealed that employees are now restricted from leveraging the exchange. This means that Bithumb employees can no longer obtain an internal account on the South Korean cryptocurrency exchange. Bithumb’s chief executive officer wrote in the newsletter that the move is focused on improving “transaction transparency.” Additionally, leaking undisclosed information and participating in unfair trade practices and market price manipulation is also prohibited in order to “ensure transparent operation.” The South Korean cryptocurrency exchange furth...
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