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Showing posts from October 4, 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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Judge rejects XRP hodlers' bid to join SEC against Ripple case as defendants

The judge ruled that the SEC would be required to launch enforcement actions against each individual XRP holder should they be allowed to participate in the case as defendants. There has been another twist in the ongoing battle between distributed ledger technology firm Ripple and the U.S. Securities and Exchange Commission (SEC). On Monday, Oct. 4, U.S. District Judge Analisa Torres ruled that individuals holding the company’s XRP token cannot act in Ripple’s ongoing lawsuit as defendants. The determination comes after a number of XRP token holders aimed to file “friends of the court” briefs which would allow them to join the case as defendants and support Ripple in its claims that the token does not violate securities laws. Judge Torres asserted that allowing XRP holders to join the suit would “compel the SEC to take an enforcement action against them,” according to Law360 . She added that it would also delay the case which Ripple and token holders have urged for a quick resolut...
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Vulcan Forged Lists on AscendEX

PRESS RELEASE. Global cryptocurrency financial platform, AscendEX is proud to announce the listing of the Vulcan Forged token (PYR) under the trading pair USDT/PYR on Oct. 5 at 1 p.m. UTC. To celebrate the listing, AscendEX and the PYR team will launch several limited-time promotional events, offering users a chance to share pooled rewards up to 60,000 USDT ! Vulcan Forged is a game studio that has migrated to a blockchain network with more than 12 games and thousands of users. VulcanVerse is a live metaverse, combining high-quality graphics with World of Warcraft-style gameplay featuring the building capabilities of Minecraft. Their market differentiation focuses on developing successful games first and then implementing blockchain integrations second, leading to a much more engaging user experience. Vulcan Forged has grown from a small digital art NFT platform and game studio to a multi-DApp platform, launchpad, and a top-five volume NFT marketplace. They are the second busie...
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Total Value Locked Across Multiple Defi Chains Nears $200 Billion — Ethereum’s TVL Dominance 69%

While the crypto economy has seen a decent uptick in performance during the first week of October, a number of decentralized finance (defi) tokens have seen tremendous gains. Furthermore, the total value locked in defi has risen to $195 billion, jumping more than 14% over the last two weeks from $171 billion. Defi Tokens Skyrocket, Total Value Locked in Dapps Grows to $195 Billion, Axie Infinity, Shiba Inu See Top Gains Digital currency markets of all sorts are seeing some gains this week and defi coins and smart contract tokens have all seen significant rises during the last seven days. Weekly metrics show that crypto-assets like QTUM spiked 42%, terra (LUNA) jumped 37%, binance coin ( BNB ) gained 23%, and solana (SOL) rose by 22%. Other notable double-digit seven-day gainers include tokens like arweave (AR), DYDX, hedera (HBAR), and vechain (VET). The two mega gainers this week include axie infinity (AXS) up 119.8% and shiba inu (SHIB) up 92.3% during the last seven days. Meanw...
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Hash rate and difficulty rebound shows miners have recovered from China exodus

Bitcoin mining profitability is up 275% since before the May 2020 halving. Bitcoin mining operations are on the path to full recovery following the most dramatic short-term disruption in network history earlier this year, and miners are reaping the rewards in revenues.  In its Oct. 4 Week on Chain report, on-chain analytics provider Glassnode reports that Bitcoin hashrate has largely recovered despite 50% of the network’s hashing power going offline in May following China’s crackdown on the sector. Hash rate measures the total computational resources of a Proof-of-Work network . Glassnode asserts that both hash rate and mining difficulty — which measures competition among miners seeking to solve the network’s next block — are both on a “consistent path to recovery.” Cointelegraph reported that difficulty slumped by 28% in early July . Having increased 39% since late July, mining difficulty has nearly returned to its pre-China exodus levels, with an additional upward adjustmen...
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JPMorgan CEO: Bitcoin Has No Intrinsic Value, Regulators Will ‘Regulate the Hell out of It’

The CEO of global investment bank JPMorgan, Jamie Dimon, says that bitcoin has no intrinsic value and “regulators are going to regulate the hell out of it.” He emphasized: “If people are using it for tax avoidance and sex trafficking and ransomware, it’s going to be regulated, whether you like it or not.” JPMorgan’s Boss on Bitcoin and Crypto Regulation JPMorgan Chase chairman and CEO Jamie Dimon continued to express his anti- bitcoin and crypto stance in an interview with Axios on HBO, published Monday. Dimon was asked whether bitcoin is “the fool’s gold of the future?” The JPMorgan boss replied: It’s got no intrinsic value, and regulators are going to regulate the hell out of it. While admitting that the cryptocurrency will be around long term, Dimon said: “I’ve always believed it’ll be made illegal someplace, like China made it illegal , so I think it’s a little bit of fool’s gold.” Several regulators have similarly said that bitcoin has no intrinsic value, including Europe...
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Institutional bulls back Bitcoin after weeks of altcoin accumulation

Institutional crypto appetites have shifted away from altcoin back to Bitcoin, with BTC investment products leading the inflows for digital asset products for the second week in a row. Institutional investors are pivoting back to digital gold with Bitcoin (BTC) investment products posting a third consecutive week of inflows. According to CoinShares’ latest Digital Asset Fund Flows Weekly report , BTC investment products generated $68.7 million worth of inflows between Sept. 27 and Oct. 1, representing a 36% increase in exposure week-over-week. While products tracking BTC have now dominated inflows to digital asset products for two weeks in a row, the bullish turn comes fresh off a record streak of outflows that persisted for eight consecutive weeks until early September. Total inflows for digital investment products were $90 million for the week, marking the seventh consecutive week of inflows as institutional investors continue to increase exposure to digital assets. Institut...
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Kevin O’Leary: ‘My Crypto Exposure Is Greater Than Gold for the First Time Ever’

Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has revealed that he has more crypto exposure than gold for the first time. He hopes to increase his crypto allocation to 7% in the next few months, emphasizing: “I don’t see a situation where crypto’s ever going away.” Kevin O’Leary Now Has More Crypto Than Gold Kevin O’Leary has revealed that his portfolio now has greater exposure to cryptocurrency than gold for the first time. He tweeted Saturday: For the first time ever, my crypto exposure is greater than gold. His comment followed his interview with Stansberry Research’s Daniela Cambone, published Friday. Emphasizing, he is “a believer” and an investor in crypto, Mr. Wonderful shared: “At the end of the year, I’m hoping to be at 7% of our operating company’s portfolio in cryptocurrencies.” Moreover, he said, “I’m investing in a wide range of different crypto products as a strategy.” The Shark Tank star noted: I am happy to listen to anybody but, I’m sorry, I don’t agree i...
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Crypto transactions surge 706% in Asia as institutional adoption grows — Chainalysis

When it comes to cryptocurrency transactions, the region of Central and Southern Asia and Oceania, or CSAO, is growing rapidly. Emerging markets across Central and Southern Asia have registered a dramatic uptick in cryptocurrency transactions, highlighting a diverse range of motivations among locals for gaining exposure to digital assets such as Bitcoin ( BTC ) and Ether ( ETH ). New research from blockchain analytics firm Chainalysis finds that crypto transactions surged 706% in Central and Southern Asia and Oceania — a broad region that includes countries such as India, Pakistan and Vietnam — between July 2020 and June 2021. In dollar terms, the value of the transactions amounted to $572.5 billion, or 14% of the global transaction value. Institutional and large payments accounted for the highest percentage of transactions, offering further evidence of smart money adoption of cryptocurrency. This trend was most pronounced in India, where large institutional-sized transfers above $...
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Tweet mocking how little value NFTs have ... is turned into $5K NFT

"This is basically the same as making a joke that you stole the Mona Lisa by taking a photograph of it," said Twitter user Sergey Pshenichkin. Twitter user Lauren Walker tweeted a message claiming she was “stealing” nonfungible tokens, only to have crypto-Twitter turn around and mint her words into a token listing for thousands of dollars. In an Oct. 2 post on Twitter, Walker mockingly said her current collection of nonfungible tokens, or NFTs, was valued at more than $8 trillion given that she claimed she has right-clicked on the images and saved them to her drive. The message ignores the verifiable scarcity underpinning tokenizing images and artwork, but Walker said she had “a real job” and dismissed criticism from the community. i have stolen over 4 terabytes of NFTs via the little known hacker technique known as "right click -> save as". my collection has a net estimated value of over 8 trillion dollars — lauren (reformed arc) (@ActNormalOrElse) Octobe...
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Grayscale Adds Solana and Uniswap to Crypto Investment Fund

Grayscale Investments has added solana and uniswap to its large-cap investment fund. This is the first time solana has been added to a Grayscale fund. The company now offers 15 funds, two of which are diversified portfolios. Solana and Uniswap Added to Grayscale Fund Grayscale Investments, the world’s largest digital currency asset manager, announced Friday the quarterly rebalancing of its two diversified portfolios: the large-cap fund and the defi (decentralized finance) fund. For the Grayscale Digital Large Cap Fund (OTCQX: GDLC), the company sold some of the existing components and used the cash proceeds to purchase solana (SOL) and uniswap (UNI). Grayscale said: [This is] the first time solana (SOL) will be included in a Grayscale investment vehicle. This was also the first time uniswap was added to the large-cap fund. However, the token has been in the Grayscale Defi Fund since the portfolio launched in July. At the end of the day on Oct. 1, the large-cap fund’s componen...
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These 3 indicators flashed bullish ahead of the recent Bitcoin price pump

Correlation does not imply causation, but these 3 indicators did signal prior to Bitcoin's recent push to $49,000. In stock markets and the crypto sector, traders are always looking for a definite reason to explain an asset's price action, which means it's important to stress that correlation doesn't imply causation.  While it may be easy to connect a regulatory statement or pending legislation to the outcome of an asset's price, there's not always hard proof that these were the exact drivers. Some indicators described below may have happened due to pure luck, even if the coincidence continues throughout history. For example, Bitcoin's ( BTC ) pump to $48,200 on Oct. 1 could have been related to the Sept. 30 remarks by the U.S. Federal Reserve chairman Jerome Powell. When asked to clarify his comments on Central Bank Digital Currencies (CBDC), Powell affirmed that the FED has no intentions to ban cryptocurrencies . Another plausible reason for the curre...
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GNO City Play-to-Earn Game Created the Biggest and Most Diverse WAX Blockchain Game

GNO City features an already playable trading card game on the WAX blockchain. In GNO City you can collect NFTs, win experience points, level up and earn tokens by just playing the game and having fun. Players can explore the story mode or go head to head in matches against other players. Welcome to GNO City GNO City is developing an open world metaverse where players can own land and roam the city to capture characters. The project already features a playable trading card game developed on the WAX blockchain, and the NFTs can be accessed on AtomicHub . If you are not familiar with the genre, digital collectible card games are a huge business these days. Some brands, such as Blizzard Entertainment’s Hearthstone, report reaching more than 100 million players and have a thriving eSport scene. The industry brings in total revenue of $2 billion a year from selling cards to players, but the latter can not earn much from it unless they get to the level of a famous eSport star. The intr...
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Compound Facing More Problems: More Than $140 Million in Tokens up for Grabs

Compound, one of the main cryptocurrency lending protocols on Ethereum, is facing serious problems again. According to banteg, a Yearn developer, someone called a function that moved more funds to be available for users to claim. Now, users can claim up to $140 million of the protocol’s native currency, comp. Compound is hoping users won’t claim these tokens and is rallying to patch the bug that caused this problem in the first place. Compound Remains Vulnerable to Exploit Compound, a decentralized finance protocol, aggravated its current situation when someone called on a function that put more funds at risk of being claimed. The function, called drip, sent more than 200,000 comp (Compound’s native token) to the Comptroller contract, the component that was affected by a bug last week, allowing users to claim unusually high amounts of comp. According to banteg, developer of another leading defi protocol, Yearn, this was the “best-kept secret in DeFi.” The drip function moves fund...
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Bitcoin price dips are being ‘bought up strongly,’ but a $50K close remains key

Analysts identify the key levels BTC needs to hold in order to see continuation above $50,000. Bulls flexed their muscles on Oct. 4 and proof of this came as Bitcoin’s ( BTC ) price rallied within $500 of the $50,000 mark. This move toward the key psychological resistance helped to pull the Crypto Fear & Greed Index out of the "fear" zone and into the "neutral' state on Oct. 4.  Crypto Fear & Greed Index. Source: Alternative The price action for the top crypto has seen increased volatility in recent weeks as countries like China have increased their crackdown on cryptocurrencies, a move which former United States Central Intelligence Agency agent Edward Snowden says has “ just made Bitcoin stronger. ” Data from Cointelegraph Markets Pro and TradingView shows that after an early morning attack by bears, which pushed BTC to a low of 46,863, bulls arrived with reinforcements and lifted the price back above the $49,200 support/resistance (S/R) zone where...
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Price analysis 10/4: BTC, ETH, BNB, ADA, SOL, XRP, DOT, DOGE, LUNA, UNI

Bitcoin bulls have set their sights on $50,000 and this renewed push is also boosting large and small-cap altcoin prices. Bitcoin ( BTC ) is facing rejection near $50,000, indicating that bears are not ready to give up without a fight. Many analysts expect Bitcoin to soar in the last quarter of the year  and stock-to-flow model creator PlanB says the “worst-case scenario” for Bitcoin in October is $63,000 and $98,000 by November. PlanB is not alone in his bullish projection. Using Bitcoin’s relative strength index (RSI) indicator during the four-year cycle, Twitter commentator TechDev suggests that the second leg of the 2021 bull run may just be getting started . The trader expects Bitcoin’s cycle top to be around $200,000. Daily cryptocurrency market performance. Source: Coin360 While historical projections may be pointing for a rally in the last quarter, the rise may not be linear. The US equity market’s volatility in October is 36% higher than the average for the re...
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Donald Trump on Crypto: ‘I Don’t Want Other Currencies Coming Out and Hurting the Dollar’

Former U.S. President Donald Trump has commented on the growing popularity of cryptocurrencies and the crypto crackdown by the Chinese government. He reiterated his anti-crypto stance: “I don’t want to have other currencies coming out and hurting or demeaning the dollar in any way.” Donald Trump Comments on Crypto and China’s Crackdown Former U.S. President Donald Trump commented on the growing popularity of cryptocurrencies and the Chinese government’s crypto crackdown in an interview with Yahoo Finance’s Adam Shapiro , published Monday. Trump was asked: “You have a relationship with the Chinese President Xi Jinping. What do you think Xi Jinping is up to? And is this crackdown on crypto good for the U.S.?” He replied: Well, I think he wants to do his own currency, whether it’s crypto or otherwise. Several people, including famous “Rich Dad Poor Dad” author Robert Kiyosaki , have similarly expressed that China has been cracking down on crypto to pave the way for its central ban...
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Korean crypto exchange Upbit to halt withdrawals for unverified users

Major South Korean crypto trading platform Upbit will start gradually limiting services for unverified users this week. South Korean cryptocurrency exchange Upbit will soon halt services for unverified users. On Saturday, the company officially announced  a set of changes to its customer verification system in compliance with South Korea’s mandatory Anti-Money Laundering (AML) requirements. According to the announcement, Upbit will start gradually limiting services for unverified users this week, restricting unverified customers from transacting more than 1 million Korean won ($850) at a time, effective Wednesday, Oct. 6. “Once customer verification is completed, the 1 million won limit will be lifted; members who submit an order with less than 1 million won can proceed with customer verification at any time,” the firm said. In a week after initial AML restrictions, Upbit plans to place more limits for unverified users. Effective Oct. 13, Upbit will stop trading services as w...
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Valued at $4.3B, NFT platform Sorare to invest in women’s sports

“We believe that NFTs can significantly accelerate the development of women’s sports,” Sorare CEO Nicolas Julia told Cointelegraph. Following a $680 million funding round, nonfungible token (NFT) marketplace Sorare is looking to be an active player in bridging the gap between sports and digital entertainment. Now valued at $4.3 billion, Sorare told Cointelegraph that the company plans to use the fresh capital to expand its business with new hires and partnerships, as well as support community-led programs. Besides working with community-led football programs aimed at helping young people from disadvantaged backgrounds and backing underprivileged entrepreneurs in sports and gaming, Sorare CEO Nicolas Julia explained via email that the NFT unicorn would also support female representation in sports. He said: “We believe that NFTs can significantly accelerate the development of women’s sports. We will actively invest in this by beginning with women’s football.” Sorare, a Paris-based ...
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Colin McRae’s long-lost rally car reportedly sold for Bitcoin at auction

Three months after embracing crypto, Lloyds Auctions house reportedly sold a legendary rally car for $360,000 in Bitcoin. Bitcoin ( BTC ) adoption is growing in the auction world, where privacy is a key concern. An anonymous buyer purchased a legendary rally car driven by iconic rally figures Colin McRae and Carlos Sainz, which was thought to be long-lost in an auction for half a million Australian dollars ($360,000) and reportedly used Bitcoin as a payment method. Australian auction house Lloyds Auctions announced that the 1994 Subaru Prodrive 555 Group A World Rally Championship Car had been found in a barn, covered in dust, in the Victoria state of Australia. The car was originally thought to be valued at 15,000–20,000 Australian dollars ($10,900–$14,500). But a six-month investigation from the International Classic Automobile Authentication and Rating System (ICAARS) revealed that “it may well be worth more than $1 million [$725,000].” Lloyds said that the rally car, one of o...
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Bitcoin got stronger despite government crackdowns, says Edward Snowden

The famous whistleblower referenced his statement about Bitcoin from March 2020 during the events of “Black Thursday.” Edward Snowden has touted the antifragility of Bitcoin ( BTC ) despite increasing regulatory scrutiny on cryptocurrencies around the world. Tweeting on Sunday, the former United States Central Intelligence Agency agent stated that Bitcoin has gotten stronger on the back of government bans and anti-crypto policies. Snowden’s tweet referenced remarks made back on March 13, 2020, amid the throes of the Black Thursday decline that saw crypto and equity markets tank amid fears of the coronavirus pandemic. As reported by Cointelegraph at the time , Snowden was unfazed by Bitcoin’s 50% drop, stating that it was the first time he “felt like buying Bitcoin.” “It’s up ~10x since, despite a coordinated global campaign by governments to undermine public understanding of—and support for—cryptocurrency,” Snowden tweeted on Sunday. During the Black Thursday crash of March 202...
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Hong Kong exploring CBDC as part of fintech strategy

A new study from Hong Kong regulators is expected to present initial thoughts and findings on CBDCs during the summer of 2022. The Hong Kong Monetary Authority (HKMA) has today released an official whitepaper exploring the potential of a retail-focused central bank digital currency (CBDC), the digital Hong Kong dollar (e-HKD). According to the document, the HKMA will seek to understand the “potential architectures and design options” from a technical and regulatory policy perspective, with the ambition of creating a dual-tier system — the first being designed for a "central bank to issue and redeem CBDC,” and the second being retail-centric for “commercial banks to distribute and circulate either rCBDC or CBDC-backed e-money.” Hong Kong debuted their investigation into CBDC’s in 2017 with Project LionRock and in early 2020 embarked on a seven-month collaboration with the Bank of Thailand   prospecting the “potential of wholesale CBDC for cross-border payments.” The initiativ...
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