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Showing posts from September 5, 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...

Analyst Predicts Crypto Bull Market: $100K Bitcoin, $5K Ethereum Is Path of Least Resistance

Bloomberg Intelligence senior commodity strategist Mike McGlone has affirmed his bitcoin price prediction of $100K, seeing $5K for ethereum as the path of least resistance. He expects the crypto market to thrive in a “refreshed bull market.” Cryptocurrencies Poised to Thrive, Bull Market Revived Commodity strategist Mike McGlone discussed his price predictions for bitcoin and ethereum in the September edition of Bloomberg Crypto Outlook, published Friday. “Crypto-assets appear in a revived and refreshed bull market with the 2H benefit of a steep discount from previous highs at the start,” he began, adding: We see ethereum on course toward $5,000 and $100,000 for bitcoin. Portfolios of some combination of gold and bonds appear increasingly naked without some bitcoin and ethereum joining the mix. The analyst explained that “diminishing supply” is boosting the price of ETH amid “increasing demand and adoption,” emphasizing that ethereum is the primary denominator for non-fungible...

Lobby Lobsters NFT drop raises $4 million in one hour to support DeFi lobbying efforts

All revenues from secondary sales will also be disbursed to support DeFi lobbying efforts globally. Nonfungible tokens (NFT) depicting cartoon lobsters in suits have raised more than $4 million to support lobbying efforts supporting the decentralized finance (DeFi) sector. On August 5, nonfungible token platform and community Universe sold out if its Lobby Lobster NFTs in less than one hour, raising roughly $4 million. Wow Already $4m raised for lobbying efforts in DC. Let’s go Lobby Lobsters community. pic.twitter.com/VeT1XymMoL — Universe.XYZ (@universe_xyz) September 5, 2021 Each NFT was minted for 0.1 Ether (roughly $390), with all of the 1,000 Ether raised through primary sales set for donation to “a non-profit focused on the policy issues facing cryptocurrencies.” In a blog post, Universe revealed that the beneficiary has been selected, however the name of the organization will be made public soon.  Proceeds from resales will also be deposited into the Universe ...

Senegalese locals left disillusioned by lack of progress on Akon City

Akon City, the ambitious ideas for a pan-African crypto-powered smart city in Senegal from rapper Akon, has not progressed past the laying of a ceremonial stone in 12 months. While originally spruiked as a futuristic city inspired by the Marvel movie Black Panther that would emerge as a “beacon of innovation and human development” and bolster the West African and Senegalese economies by Akon in 2018, there are few signs of the city’s development beyond a ceremonial stone that was laid in a field near Mbodiene 12 months ago. According to a report from Agence France-Press, the project has not progressed beyond the stone’s erection, with a small placard promoting Akon City having since fallen from its perch on top of the block. Akon had predicted that the city would boast a police station, waste center, solar power plant, shopping center, hospital and school by 2024, anticipating the project would be c ompleted in its entirety by 2030 . Senegalese locals appear to be growing increa...

Crypto Exchange Binance Ceases Trading in Singapore Dollars to Comply With Regulations

Cryptocurrency exchange Binance has announced that it will cease offering trading pairs and payment options in Singapore dollars to remain compliant with the country’s regulators. The announcement followed a notice issued by the Monetary Authority of Singapore (MAS) stating that Binance “may be in breach of the Payment Services Act.” Binance Complying With Singapore’s Regulations Crypto exchange Binance announced Sunday changes to its services in Singapore. The company wrote that “to remain compliant with local regulators,” it will cease offering “SGD trading pairs” and “SGD payment options” on Friday, Sept. 10. Binance will also remove its app from Singapore iOS and Google Play stores. SGD trading pairs will also be removed from Binance P2P Friday. The exchange further advised users to complete all related P2P trades and remove all related advertisements by Sept. 9 “to avoid potential trading disputes.” Moreover, Binance clarified that it is not operating any official Telegram or...

Can Bitcoin Break Historical September Price Trends? Spike Above $51K Suggests 2021’s 9th Month Is Different

The price of bitcoin has risen above the $51K zone on Sunday and traders and speculators are curious as to where the price is headed next. Historically, in September, bitcoin prices don’t fare so well and usually get better in October. For this reason, skeptics are not sure if bitcoin’s price will continue to be bullish during the ninth month of the year. So far, however, the end of the first week of September 2021 has been much better in terms of gains. Historical Bitcoin Prices in September Are Often Low and Lackluster, 2021 Has Been Different Bitcoin is doing well on Sunday, up 5.4% during the last seven days and 26.3% during the last month. So far it has jumped above the $51K region on Sunday evening (EST), hitting a high of $51,863 per unit . The first week of September is almost over, and so far, BTC is looking real good price-wise but traditionally, the leading crypto asset doesn’t do so well this month. In 2013, BTC was in the red that September after reaching a $240 all...

Total Value Locked Across Defi Nears $200 Billion, Non-Ethereum Projects Gather Steam

At the time of writing, the total value locked (TVL) in decentralized finance (defi) is around $176 billion across various blockchains like Ethereum, Binance, Terra, Polygon, Solana, and Avalanche. While Ethereum commands $130 billion of the aggregate total locked, a myriad of other defi-fueled blockchains continue to see TVLs steadily rise. Total Value Locked Across All Defi Compatible Blockchains The total value locked (TVL) in defi today has risen to $176.9 billion with a change of 1.07% during the last 24 hours, according to defillama.com statistics. The TVL has been steadily nearing the $200 billion zone and today Uniswap commands 3% dominance among the variety of defi applications. The defi application Aave commands $16.04 billion and Curve captures $13.92 billion today as most of the TVL is locked into application bolstered by the Ethereum chain. Total value locked on all chains, according to defillama.com statistics on Sunday. A number of other chains, however, have bee...

Top 5 cryptocurrencies to watch this week: BTC, LTC, FIL, FTT, MIOTA

BTC bulls are still trying to flip $50,000 to support and if this occurs LTC, FIL, FTT and MIOTA could rally higher. Bitcoin ( BTC ) is struggling to sustain above $50,500 but that has not stopped the altcoins from following in Ether's ( ETH ) footsteps after the top-ranked altcoin hit $4,000 on Sept. 3. This has pushed Ether’s market dominance above 20% while Bitcoin’s dominance has shrunk to 41.1%. However, Bitcoin’s hesitation in the past few days has not altered the outlook  of Bloomberg senior commodity strategist Mike McGlone who has retained a $100,000 target on Bitcoin and $5,000 on Ether. Crypto market data daily view. Source: Coin360 Apart from the top two cryptocurrencies, the nonfungible token (NFT) sector had been attracting investor’s attention since July. Cointelegraph contributor Jordan Finneseth recently suggested that the recent drop in transaction volumes and a few other reasons could be signaling a rotation of capital from NFTs to the decentralized fina...

New NFT Collections Loot for Adventurers, MAYC, Inertial Moment Make Serious Headway in Sales

During the last few weeks, non-fungible token (NFT) collections like Cryptopunks, Axie Infinity, Art Blocks, Bored Ape Yacht Club (BAYC), and Meebits have been seeing massive volumes. However, a number of new NFT collections are making headway in sales and the Ethereum-based roleplaying game called “Loot (for Adventurers)” now commands the top spot. Loot, MAYC, Inertial Moment NFTs are seemingly becoming a mainstay in the world of cryptocurrencies and blockchains. Non-fungible token concepts have invaded the art scene, music, gaming industry, and many more sectors. For instance, Michael Winkelmann, known professionally as Beeple, sold his “Everydays: the First 5000 Days” NFT for over $69 million making it the fourth-most expensive artwork by a living artist. Since then it’s been all about NFT collections stemming from projects like Cryptopunks , Meebits, Weird Whales , BAYC, Mutant Ape Yacht Club (MAYC), Art Blocks, Axie Infinity , and more. Loot (for Adventurers) is the top-selli...

Russia’s Roskomnadzor Watchdog Blocks 6 VPN Providers

Russian communications watchdog, Roskomnadzor, has restricted another six VPN providers. The agency says the platforms have facilitated access to information that is banned in the Russian Federation. Roskomnadzor is also whitelisting certain VPN services that operate in accordance with the law and are used by Russian companies. Roskomnadzor Bans More VPN Platforms in Russia Russia’s Federal Service for Supervision of Communications, Information Technology, and Mass Media, Roskomnadzor, has restricted access to another batch of VPN service providers. In accordance with a government decree issued in February 2020, “a decision was made to block 6 more VPN services that violate Russian law,” the watchdog explained in a notice published Friday. The affected platforms are Hola! VPN, Express VPN, Keepsolid VPN Unlimited, Nord VPN, Speedify VPN, and IPvanish VPN. The regulator insisted their services allow users to maintain “access to prohibited information and resources,” creating condi...

'Conservative' BTC supply shock metric now says Bitcoin should cost at least $55K

The supply shock valuation model delivers an extra reason to be long-term bullish on upward price movement. Bitcoin ( BTC ) should cost at least $55,000 per coin according to one metric measuring its so-called “supply shock.” In a tweet on Sep. 5, analyst Willy Woo highlighted what he added is a “conservative” price estimate for BTC/USD. Bitcoin price plays catch-up with metrics While Bitcoin has still not established $50,000 as firm support, on-chain metrics have been much more firmly bullish for some time. Now, the so-called “supply shock valuation model” has joined them, giving a conservative price estimate of $55,000. Supply shock is simply the unavailable BTC supply divided by the available BTC supply. This goes deeper than at first glance, as Woo uses it to effectively “wave a magic wand and gauge the intent of investors before the bids and offers are even placed.” “In this view of demand and supply, an investor who has no intention to sell is on the demand side while a...

Binance limits SGD product offerings in Singapore amid regulatory warnings

The Monetary Authority of Singapore placed Binance on its investor alert list on Sept.1 over concerns that the crypto exchange may have violated local payments regulations. Global cryptocurrency exchange Binance announced Sunday that it will roll back product offerings in Singapore amid warnings from financial regulators that the company may have violated payments laws.  Beginning Sept. 9, Singaporeans will no longer be able to trade cryptocurrencies or receive payments denominated in the Singapore dollar, better known as SGD, according to a Sunday blog post. The Binance mobile app will also be removed from Singapore’s Apple and Google Play stores. The exchange said all SGD trading pairs will be removed at 04:00 UTC on Sept. 9, with users advised to complete all peer-to-peer trades 24 hours in advance of the deadline. Changes to #Binance Offerings in Singapore https://t.co/oKsgb8VFta — Binance (@binance) September 5, 2021 The decision by Binance to halt certain product ...

Bitcoin Market Dominance Dips Down to 40% While Ethereum and Other Crypto Market Caps Swell

While bitcoin prices have risen in value during the last two weeks, bitcoin dominance levels have slipped to lows not seen since the June 6 low of 41%, and the dip to 39.97% on May 16, 2021. Depending on the crypto market price aggregator leveraged, bitcoin’s dominance has been between 39.99% to 41.52%. Meanwhile, as bitcoin’s dominance has dropped significantly, crypto-asset markets like ethereum, cardano, binance coin, and tether have seen market dominance, in terms of overall valuation, steadily increase among the 10,000+ coins in existence today. As Bitcoin Slides to the 40% Range, Ethereum Climbs to 20% of the Crypto Economy It is well known that between the first time bitcoin ( BTC ) prices were calculated by market capitalization, and all the way up until February 2017, BTC had more than an 80% market dominance among all the other coins, for a majority of the time. There was an instance in 2014, where BTC dropped to 77.9% in December and again in March 2016 to 76.42%. Afte...

Scammers Offer Free Bitcoin on Hacked Government Site in Russia as Crypto Fraud Surges

Unknown scammers have organized a fake bitcoin giveaway through a Russian government website they hacked. The news of the attack comes after a recent report revealed that damages from crypto-related fraud in Russia have reached $30 million in value in the first half of this year. Regional Government Website in Russia Hacked by Scammers The main website of the local administration in the Russian city of Ryazan, around 200 km southeast of Moscow, has been targeted by hackers twice in a single day, Rzn.info reported quoted by the crypto news outlet Forklog. The unidentified attackers published an ad offering cryptocurrency to those who download a special application. The scammers initially promised to send 0.025 ВТС to every visitor who installed the app. They later changed the offer to a prize of $1,000 in bitcoin for each of five randomly chosen participants in what was advertised as the “Ryazani online lottery.” Both ads have already disappeared from the mayoral site but the local...

How will blockchain technology help fight climate change? Experts answer

Here’s what experts on emerging tech think about the role of blockchain in achieving more sustainability and lessening the climate crisis. Tom Baumann of the Climate Chain Coalition: Tom is the founder and co-chair of the Climate Chain Coalition, an open global initiative to advance collaboration on blockchain/DLT and digital solutions to enhance climate actions. “In general, digital solutions can be helpful tools to support a low-carbon economy. The World Economic Forum estimates that digital solutions can help achieve 15% of the Paris Agreement goals. These solutions can be used throughout the entire economy, creating smart grids and buildings, smart transportation, integrating with digital services and more. Digital tools could link sustainable production to sustainable consumption in a more efficient, equitable manner, for a fair transition. Beyond the described carbon trading market, distributed ledger technologies, including blockchain, can enhance international and intersec...