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Showing posts from October 17, 2021

As Bitcoin’s Price Spikes Pods of BTC Whales Begin to Shrink in Size

Recent metrics from a variety of analytical web portals show that the quantity of bitcoin whales has been shrinking in recent times. The data indicates that the leading crypto asset has been distributed quite a bit since the price run-up started. Pods of Bitcoin Whales Shrink — Addresses With Small Quantities of Bitcoin Catch the Downward Distribution Cycle Today, data shows that bitcoin whales are shrinking and metrics from bitinfocharts.com ’s top 100 richest bitcoin addresses list compared to a whale count article Bitcoin.com News published on May 14, show things have changed. Statistics from Glassnode show that whale-sized addresses with 1,000 BTC + have dipped to the smallest amount in eight years and ten months ago. In addition to those two sites that offer onchain whale analytics, whalemap.io also implies a decline in whales (balance ≥ 1k) and a downward distribution cycle. Also, the top 100 richest bitcoin addresses from bitinfocharts.com indicate that on May 13, 2021 , ...

Grayscale hints at plans to convert Bitcoin trust into BTC-settled ETF

Grayscale looks to be seeking to restructure its Bitcoin Trust into a physically-backed fund after the SEC approved a Bitcoin futures ETF. Institutional investment giant Grayscale is reportedly considering converting its Bitcoin Trust into a physically settled exchange-traded fund (ETF). On Oct. 17, Barry Silbert, the CEO of Grayscale’s parent company Digital Currency Group, hinted that Grayscale is making plans to convert its Bitcoin Trust into a spot-settled Bitcoin fund. After having taken to Twitter to criticize the cash-settled Bitcoin futures ETF recently approved by the U.S. Securities and Exchange Commission (SEC), Bitcoin commentator Preston Pysh chimed in to ask Silbert when Grayscale’s Bitcoin Trust would be converted into a BTC-settled ETF. “Stay tuned,” Silbert responded. stay tuned — Barry Silbert (@BarrySilbert) October 17, 2021 However, Grayscale Bitcoin Trust investors appear to have been unsettled by Silbert’s remarks, with Twitter user “svrgnindividual” que...

Popular BTM Operator: Bitcoin of America Adds Ethereum to Its Bitcoin ATMs

PRESS RELEASE. Bitcoin of America is a popular virtual currency exchange, registered as a money services business with the United States Department of Treasury (FinCEN)(RegNum). Apart from ensuring a fast and hassle-free transaction, they are known for their customer support. Bitcoin of America recently announced their newest addition to their Bitcoin ATM machines (BTMs). Ethereum is now available to buy and sell at Bitcoin of America ATM locations. Bitcoin of America recognized the growing popularity of the cryptocurrency Ethereum and decided it was time to include it in their BTMs. To date, Bitcoin of America has 1300 plus BTMs across 31 states. Bitcoin of America also offers Bitcoin and Litecoin options online and at their BTM locations. To find a BTM you can visit their website and enter in your address to find one near you. Bitcoin of America has made several updates to their machines and services this year. In May, Bitcoin of America announced their new Universal Kiosk. Th...

Mexican medical firm embraces blockchain for covid test certificates

MDS Mexico will use blockchain technology to verify the authenticity of its rapid coronavirus test results. Medical services company MDS Mexico has launched a rapid covid-19 testing service that uses blockchain technology to verify results. According to a Oct. 17 report from local media outlet iProUP news, MDS Mexico has launched a digital platform allowing its patients to access results that are updated in real-time. Results are also physically delivered, featuring a QR code that can be scanned to verify the results and access a patient’s vaccination history on MDS Mexico’s blockchain. MDS stated that it adopted blockchain to safeguard the results of clinical tests, protect patients' personal data, and prevent the falsification of covid test results. MDS’s website says: “To avoid the falsification of negative results, we began to certify the SARS-CoV-2 detection tests with blockchain technology and cryptographic signature, which protects the information in a unique, immutabl...

Retro NFT packs drive frenzied Top Shot speculation

NFTs celebrating significant basketball moments from the mid-2000s have proved to be a big hit among NBA Top Shot collectors. Trade volume for NBA Top Shot’s nonfungible tokens has skyrocketed over the weekend following the launch of their retro Run It Back 2005-06 packs on Friday, Oct. 15. According to Crypto Slam, daily volume on Top Shot’s marketplace jumped by more than 440% from $829,520 on Oct. 14 to more than $4.5 million the next day. Oct. 16 also saw more than $4 million worth of tokens trade hands. Top Shot’s NFTs feature video highlights depicting key moments from the history of professional basketball, with the latest packs celebrating the stars of the 2005 - 2006 season. On Oct. 17, NBA Top Shot tweeted that nearly 10,000 Run It Back packs had been sold in 24 hours at a rate of seven purchases per minute. 7️⃣ purchases a minute. For the last 24 hours. ⏰ Over the past day, we’ve seen 9,921 purchases of Run It Back 2005-06 Moment™️ Collectibles alone. Find RIB ...

‘Big Short’ Investor Michael Burry Not Shorting Bitcoin, Warns ‘Cryptocurrencies Are in a Bubble’

Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, has confirmed that he has not been shorting cryptocurrencies, including bitcoin, despite speculations that he may have. His confirmation came after he recently asked how to short crypto. Michael Burry Says He Is Not Shorting Cryptocurrencies Famous investor and founder of private investment firm Scion Asset Management, Michael Burry, confirmed to CNBC Friday that he has not been shorting bitcoin or other cryptocurrencies. Burry is best known for being the first investor to foresee and profit from the U.S. subprime mortgage crisis that occurred between 2007 and 2010. He is profiled in “The Big Short,” a book by Michael Lewis about the mortgage crisis, which was made into a movie starring Christian Bale. He told CNBC Friday: I’ve not been shorting cryptocurrencies at all. And I’m not now … I believe that cryptocurrencies are in a bubble and that most in it do not understand it well. Many people in...

Rich Dad Poor Dad’s Robert Kiyosaki Sees ‘Very Bright’ Future for Bitcoin, Plans to Buy More BTC After Next Pullback

Robert Kiyosaki, the best-selling author of Rich Dad Poor Dad, now says bitcoin’s future is “very bright,” after predicting a “giant stock market crash” that could also tank the crypto market. He further revealed that he is waiting for the next pullback before investing more in bitcoin. Bitcoin’s Future Is ‘Very Bright,’ Says Kiyosaki Famous author and investor Robert Kiyosaki said last week that bitcoin’s future is “very bright.” Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Kiyosaki tweeted Friday: Hooray. Bitcoin rising above $60,000. Future very bright. Celebrate yet be cautious. I am waiting for a pullback before investing more. While the famous investor has been recommending bitcoin to investors for quite some time, he predicted that a “giant stock market crash” wa...

Coinbase Publishes Proposal for Crypto Regulation Pushing 4 Core Recommendations

Cryptocurrency exchange Coinbase has published its proposal for crypto regulation after “more than 75 meetings with stakeholders in government, industry, and academia,” CEO Brian Armstrong revealed. In its Digital Asset Policy Proposal, the company recommends “four core pillars to inform future U.S. regulation.” Coinbase’s Proposal for Crypto Regulation The Nasdaq-listed cryptocurrency exchange Coinbase published its Digital Asset Policy Proposal (DAPP) Thursday. Coinbase CEO Brian Armstrong tweeted: “Today we’re launching our Digital Asset Policy Proposal (DAPP) which we hope will help chart a course for clear regulation of cryptocurrency and web 3.0 in the U.S. It’s critical to bring clarity to this space and ensure America remains a financial leader.” He further shared: This is not about Coinbase — we completed more than 75 meetings with stakeholders in government, industry, and academia to help shape this proposal, and we feel it represents a consensus point of view. It’s in...

Top 5 cryptocurrencies to watch this week: BTC, ETH, SOL, MATIC, FTM

Bitcoin’s shallow pullback increases the prospect of a new all-time high in the short term and altcoins like ETH, SOL, MATIC and FTM could move higher while BTC prepares for its next move. On Oct. 15, news that a Bitcoin ( BTC ) exchange-traded fund (ETF) could start trading as early as next week sent Bitcoin price to $62,933 but the rally has cooled off since then. Some market participants believe that traders who bought the rumor of approval for a Bitcoin ETF product may sell on the news . Crypto trading firm QCP Capital said in an update that the approval of futures-based ETFs is unlikely to provide a long-term boost for Bitcoin prices similar to the one seen in the fourth quarter of 2020. While high volatility cannot be ruled out in the near term, investors should focus on the major trend and not get caught in minor corrections that are part of the path to new all-time highs. Crypto market data daily view. Source: Coin360 According to Foxbit founder João Canhada, his daug...

The ‘Holding Billionaires Accountable’ Lie — Media, Big Tech Fact Checkers Mischaracterize Angst Toward Biden’s Tax Proposal

U.S. citizens and financial institutions are concerned about the Biden administration’s goals to get banks to report to the Internal Revenue Service (IRS) aggregate inflows from a customer’s bank account annually that exceed $600. Mainstream media is reporting and Big Tech’s swarm of fact-checkers have said that some lawmakers are mischaracterizing the proposal. Biden Administration’s $600 Tax Proposal Ignites Heated Debate and So-Called Fact-Checking In May, it was reported that Biden’s IRS planned to add more staff and focus on cryptocurrency exchange. The accounts stemmed from a Treasury Department report, and the department’s officials projected that during the next decade it could net $700 billion from tax offenders. The following decade later, the Treasury expects the plan to net $1.6 trillion, and the Federal entity believes those estimates are conservative. At the time of writing, the tax proposal dubbed the “ American Families Plan Tax Compliance Agenda ” is still being de...

Portfolio rebalancing through DeFi must be simplified to see adoption

The decentralized finance industry is growing rapidly, and it's time for portfolio risk management to keep up with innovations. Central banks and key leaders are increasingly raising further alarms for rising inflation, causing spirals of doubt across the world. Just recently, United States Treasury Secretary Janet Yellen called for Congress to either raise or suspend the U.S. debt ceiling, stating that the government will run out of money to pay its bills by October. What seems to sound more like a horror film of the future is merely the front news of global financial publications at the moment. Yellen stated that the overwhelming consensus among economists and Treasury officials of both parties is that failing to raise the debt limit would produce widespread economic catastrophe, “potentially precipitating historical financial crises, stock sell-off and recession, creating severe market volatility.” The value of the U.S. dollar will continue to decrease in the future, and ...

Centric Swap leads ‘Uptober’ after a swift 1,000% gain. Here’s why it could go higher

CNS price rallied roughly 1,000% in the past 5 weeks as new partnerships, a chain migration and the promise of “announcements upon announcements” lure new investors. In the past few weeks, Centric Swap (CNS), a dual-token model that gives stakers a fixed hourly yield that “stabilizes over time as it self-regulates token supply to meet ongoing changes in demand,” has rallied more than 850% and still about 200% away from its previous all-time high. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.000104 on Sept. 9, the price of CNS has skyrocketed 1,130% to a daily high at $0.0017659 on Oct. 15 as its 24-hour trading volume spiked 130% to $6.4 million. CNS/USDT 4-hour chart. Source: TradingView Three reasons for the rapid rise in CNS price include the expansion of the project’s ecosystem through partnerships, a $1 billion injection by Binance into the DeFi ecosystem on the Binance Smart Chain (BSC) and the promise of multiple upcoming deve...

Valve Bans Games Built on Blockchain, NFTs, and Cryptocurrencies From Steam Gaming Platform

This past week, Valve, the parent company of the video game digital distribution service Steam updated its distribution onboarding guidelines. According to the newly updated rules, the company is banning any “applications built on blockchain technology that issue or allow exchange of cryptocurrencies or NFTs.” Newly Updated Onboarding Guidelines for Steam Says ‘You Shouldn’t Publish’ Applications ‘Built on Blockchain,’ or ‘Allow the Exchange of NFTs, Cryptocurrencies’ Valve seems to have an issue with games that involve blockchain technology, crypto assets, or non-fungible token (NFT) collectibles. The company quietly updated the firm’s onboarding page and the new rule was added to the list of games “you shouldn’t publish on Steam” Interestingly, Steam once supported bitcoin ( BTC ) for payments at the storefront but stopped supporting BTC in December 2017. The decision in 2017 was made 18 months after Valve allowed the storefront to accept the leading crypto asset for payments. ...

Next Bitcoin price crash will be 'shallower' than 80%, says Pantera Capital CEO

Bitcoin price increases will also be less dramatic moving forward, the report suggests. Bitcoin ( BTC ) market's tendency to crash by over 80% after logging strong bull runs might come to an end. That is according to a new report published by California-based hedge fund Pantera Capital. In detail, the report notes that the recent periods of BTC price drops have been less severe than in the past. For instance, in 2013-15 and 2017-18, Bitcoin crashed by as much as 83% after topping out near $1,111 and $20,089, respectively. Similarly, the cryptocurrency's bull run in 2019-20 and 2020-2021 led to massive price corrections. Nevertheless, the scales of their retracements afterward were -61% and -54%, respectively. Bitcoin bull and bear markets across the history. Source: Pantera Capital Dan Morehead, the chief executive at Pantera Capital, highlighted the consistent drop in selling sentiment after the 2013-15 and 2017-18 bearish cycles, noting that future bear markets would...

Salvadoran President Nayib Bukele Taunts Economist Steve Hanke After Bitcoin’s Price Skyrockets

On October 15, the day bitcoin’s price surpassed the $60K per unit handle, Salvadoran president Nayib Bukele taunted the professor of applied economics at Johns Hopkins University, Steve Hanke, over his recent statements. At the time, the well known economist warned that El Salvador faces “financial ruin” with “Bukele at the helm,” after El Salvador’s president bought the bitcoin dip when the price was down. 3 Weeks Ago Steve Hanke Said ‘With Bukele at the Helm’ His Country Faces ‘Financial Ruin,’ Bukele Responds After Bitcoin Spikes and Says: ‘You Were Saying?’ When El Salvador adopted bitcoin (BTC) during the first week of September, the first day the law was enacted, BTC ’s fiat value dropped a great deal. At that time, Salvadoran president Nayib Bukele told his Twitter followers that El Salvador was “buying the dip” as the country added 150 BTC to its stash. Meanwhile, the professor of applied economics at Johns Hopkins University, Steve Hanke, has criticized the Salvadoran p...

Fasten your seatbelt: Crypto’s impact on marketing has only just begun

The marketing will adjust to a new crypto future, with a decentralized consumer community, operating via Web 3.0. The road to the adoption of blockchain and crypto in the marketing industry is a long and winding road . But make no mistake about it: Transformation is well on its way and the road will soon turn to a highway. As someone who has been a creative director, agency owner/partner, strategic planner, chief marketing officer for fintech startups and an entrepreneur, I’ve seen the marketing industry from multiple vantage points. What’s common in marketing revolutions? And while every so-called “marketing revolution” takes a somewhat different path, there are many commonalities. First of all, marketing agencies will get ahead of the curve as a way to exhibit their competitive advantage and value to their clients. But a majority of brand marketers will move more slowly: They have the challenge of “socializing” change internally, are lured by the opportunity for competitive diff...