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Showing posts from November 8, 2021

Telos raises $8M funding before EVM launch to avoid token sales

The funding was supported by five investors who intend to help fast-track Telos' exchange listings and DeFi initiatives. Blockchain platform Telos raised $8 million in funding led by ConsenSys and Polygon investor John Lilic. The funding was secured right before the launch of Telos’ Ethereum Virtual Machine (EVM) platform, ending the company’s ongoing streak of bootstrapped initiatives. Telos aims to redirect the recently secured capital on the platform’s development and marketing in addition to improving the liquidity of the ecosystem “without needing to resort to TLOS token sales in the event of a prolonged bear market over the next year.” According to Telos chief architect Douglas Horn: “While this [bootstrapping] preserved our identity as an egalitarian, self-governing community, it left us exposed to the risks of continuing to fund our explosive growth through extended bear markets.” Speaking to Cointelegraph about moving away from token sales, Horn said that Telos aims t...

Record whale accumulation precipitated latest all-time high Bitcoin breakout

Bitcoin’s new all-time highs appear to have been triggered by a dramatic reduction in active supply over recent months. Bitcoin investors appear to be increasingly sitting on their hands in hopes of higher prices, with the share of Bitcoin’s supply that has remained inactive for the past three months spiking to a record high of 85%. On-chain analytics provider Glassnode identified the milestone in its Nov. 8 “ The Week Onchain ” report , concluding: “Investors are just not spending their coins.” Addresses that have not moved their BTC in 12-months, dubbed “long-term holders” (LTH), are among those most actively stockpiling coins — with said addresses moving just 6,500 BTC daily. The trend of accumulation does not appear to be slowing down, with the share of supply held on centralized exchanges also dropping to a record low of 12.9% as BTC is increasingly placed into secure storage. Glassnode reports that more than 5,000 BTC (approximately $338.6 million) was withdrawn from c...

Civic launches free tool to combat NFT-hungry bots on Solana

Civic’s Ignite Pass aims to combat bots targeting NFT drops on the Solana network by verifying video-based selfies using artificial intelligence. Identity verification tech firm Civic Technologies has launched a free tool to combat botting activity in Solana (SOL)-based NFT drops. According to a Nov. 8 announcement, Civic’s new tool “Ignite Pass” will filter out bots by requiring buyers to complete a liveness verification before being approved to make NFT purchases. Civic’s website notes that users will be required to take a video selfie in order to verify, with an Ignite Pass then being issued to their wallet address upon completion. The pass also remains active for 24 hours to “limit the options of malicious botters verifying multiple wallets. ” The website also outlined that “Civic does not store this video selfie,” but does not clarify if the data is deleted or stored elsewhere. The Ignite Pass is a free version of the firm’s suite of know-your-customer (KYC) and anti-money ...

New ATH renews faith in PlanB’s prediction of $98K BTC by December

Will Bitcoin break above six figures before Christmas? PlanB’s Stock-to-Flow model suggests $100,000 BTC could be imminent. Bitcoin (BTC) has broken into new all-time highs, with the asset last changing hands in the mid $67,000-range. During the final hour of Nov. 8 UTC time, BTC pushed into uncharted prices, with bulls firmly taking control of the markets as price action retested Oct. 20’s previous high of roughly $67,000. BTC/USD: TradingView The milestone comes on a historic date for Bitcoin, with analysts noting that Bitcoin’s market cap pushed above $1 million for the first time on Nov. 8, 2010. Crypto Twitter appears to be rejoicing over the new all-time high, with many onlookers appearing to read the price-high as restoring their faith in the Stock-to-Flow (S2F) model from the pseudonymous analyst “PlanB” — which has gained significant popularity due to its eerie accuracy in predicting monthly closing prices for BTC. The model measures the outstanding reserves of a g...

Square Unveils Plans to Help Bitcoin Become the Native Currency for the Internet

Square Inc. has affirmed that its focus is on helping bitcoin become the native currency for the internet. CEO Jack Dorsey explained, “We have a number of initiatives toward that goal” that will help “bitcoin reach a mainstream audience while at the same time strengthening the network and ecosystem.” Square’s Focus Is on Helping Bitcoin Become the Native Currency for the Internet Square Inc. reiterated its commitment to bitcoin during the company’s Q3 earnings call Friday. Square also revealed that its mobile payment platform Cash App generated $1.8 billion in bitcoin revenue . Square’s market cap is currently $110 billion. During the call, Dorsey was asked whether Square is “looking to expand into crypto beyond bitcoin buy and sell,” such as offering other cryptocurrencies and enabling users to “engage in defined NFT ecosystems.” Dorsey simply replied, “We’re not,” emphasizing: Our focus is on helping bitcoin to become the native currency for the Internet … We have a number of ...

3 reasons why Kadena (KDA) price went on a 500% parabolic frenzy

New staking opportunities in DeFi and centralized exchanges, along with a migration to the Ethereum network are just a few reasons for KDA’s recent 500% rally. Proof-of-work (POW) blockchain networks were all the rage in the early days of cryptocurrency when Bitcoin ( BTC ) set the standard for security and other projects followed suit in various attempts to offer a robust, scalable network that would either support payments of efficiently transmit data. Most protocols have now shifted to proof-of-stake but Kadena (KDA), a scalable layer-one blockchain protocol is still operating on the old proof-of-work model. According to the project, the network is capable of processing up to 480,000 transactions per second thanks to the use of “braided chains”. Data from Cointelegraph Markets Pro and TradingView shows that in the last two weeks, KDA price has rallied 1,124% to a new record high at $25.94 on Nov. 7 as its 24-hour trading volume spiked from a daily average of $3 milli...

ESG oriented blockchain wants on-chain ‘nutrition labels’ for every commodity exchanged

Representatives from the Watr Foundation said that they seek to bring ESG transparency to commodities industry. The Watr Foundation, in partnership with blockchain platform Algorand, recently launched a project to provide ESG scoring for different commodities with a special focus on climate change. While the project has a clear environmental focus, the platform will also include labeling for everything from how a company treats its workers to the number of people participating in an asset's ecosystem by gender. Watr Foundation council president Maryam Ayati said in a statement: “We believe this next iteration on resource models should be co-created in mutually-owned profit models. It is a privilege and comfort to be collaborating with the pioneers of decentralized technology, blockchain, industry, and environmental products in bringing this blockchain ecosystem to life.” Algorand COO Sean Ford said “Watr’s vision to enable a commodities market that is grounded in trans...

OTOY’s Render Network plans to render the metaverse on Solana

Solana's programmable and secure underlying infrastructure is critical for scalable and shareable dynamic metaverse content, according to OTOY CEO Jules Urbach. Jules Urbach, the CEO and founder of OTOY, wants to democratize content creation, specifically as it pertains to virtual assets. OTOY’s technology intends to fulfill the promise of an open cloud-based metaverse via the Render Network — the first decentralized GPU rendering network & 3D marketplace built on OTOY's OctaneRender NFT ecosystem. While at the inaugural Solana Breakpoint conference in Lisbon, Portugal, Urbach announced Render Network’s integration with the Solana blockchain, as well as a partnership with NFT minting platform Metaplex. Urbach noted that the project's recent move to Solana happened for a variety of reasons. He mentioned that Solana runs on high-performance code at a fast enough speed to handle scene graph changes on chain without sacrificing security. Such a programmable and secure ...

The Crypto Economy Soars Past $3 Trillion — Momentum of Value Grew Much Faster Than Apple’s Market Valuation

On November 8, 2021, the cryptocurrency economy’s market capitalization reached the $3 trillion mark after gathering significant value over the course of 12 years. The overall value of the 10,464 crypto-assets in existence is now larger than Microsoft’s market valuation at $2.52 trillion and Apple’s $2.47 trillion market cap. Cryptocurrency Economy Is Now More Valuable Than Company’s Like Microsoft, Apple, Google, Saudi Aramco Statistics indicate that on Monday, November 8, the net worth of the entire crypto-economy is valued at over $3 trillion, after jumping roughly 3.7% in value during the last day. The 10,464 coins in existence, worth over $3 trillion, have produced $206 billion in global trade volume during the last 24 hours. Years ago, people laughed and described crypto as merely valueless ‘Beanie Baby’ collectibles. Today, however, most are not laughing and they are either angry or simply taken back by the momentum of value. The crypto economy’s climb to $3 trillion has bee...

Analysts expect parabolic Bitcoin price move after the ‘last’ resistance at $67K falls

Analysts say BTC price is set for a near parabolic price move once the “last” resistance at $67,000 is cleared. The bulls are on the march again and this time they've set their sights on a new all-time high for Bitcoin ( BTC ) price which is within striking distance of the $67,000 level. Data from Cointelegraph Markets Pro and TradingView shows that a late-night surge on Nov. 7 catapulted the price to an intraday high at $66,557 and at the time of writing trading volume continues to increase as bulls attempt to secure a daily close above $66,000. BTC/USDT 4-hour chart. Source: TradingView Here’s a look at what analysts are saying about today's rally and where BTC price might head in the short-term. There's just one final resistance level Independent market analyst Rekt Capital posted the following chart highlighting his point-of-view that there is “one final resistance left before BTC enters its parabolic phase of the cycle.” BTC/USD 1-week chart. Source: Twit...

Brave to integrate with Solana blockchain on its privacy-enabled browser

More than 42 million Brave users will soon be able to access Solana dApps within Brave. During Solana's Breakpoint conference in Lisbon, Portugal, executives at Brave and Solana Labs announced that the Brave browser would integrate with the Solana (SOL) blockchain and feature Solana decentralized applications, or dApps , on its browser. Simultaneously, Solana will promote the adoption of Basic Attention Tokens (BAT), the native digital currency of the Brave Browser, among its dApp users. We've partnered with @solana to integrate it into the browser and make it the default for DApp support. We will soon bring best-in-class wallet features for the Solana blockchain into our desktop & mobile browsers. #BreakpointLisbon https://t.co/tTB7NXKWjI — Brave Software (@brave) November 8, 2021 Brendan Eich, CEO, and co-founder of Brave, had the following to say regarding the development: With more and more users and creators requiring tools for fast and affordable access to ...

US officials seize $6.1M in crypto from ransomware actors, adds Chatex to sanctions list

“This will not be the last time — the U.S. government will continue to aggressively pursue the entire ransomware ecosystem and increase our nation's resilience to cyber threats," said Attorney General Merrick Garland. The United States Department of the Treasury has announced it will impose sanctions on the cryptocurrency exchange Chatex and its support network for allegedly facilitating transactions for ransomware actors. In an advisory update issued on Nov. 8, the Treasury Department Office of Foreign Assets Control, or OFAC, added Chatex as well as IZIBITS OU, Chatextech SIA, and Hightrade Finance to its list of entities sanctioned by the U.S. government. The department claimed Chatex has “direct ties” with Czech Republic and Russia-based business Suex OTC , which it sanctioned in September. According to OFAC, Chatex has helped facilitate transactions for ransomware groups, with more than half of the exchange’s transactions “traced to illicit or high-risk activities su...

BREAKING: Mastercard launches crypto-linked cards across Asia-Pacific

From CBDCs to payments and up to crypto forensics, Mastercard has been highly active in the digital currency market. Credit card giant Mastercard made a big splash in the digital asset market on Tuesday by announcing the launch of crypto-linked payment cards across the Asia-Pacific region. In partnership with three cryptocurrency service providers, namely Amber Group and Bitkub in Thailand and CoinJar in Australia, Mastercard will offer crypto-funded payment cards that enable users to instantly convert their digital assets into traditional fiat money. “Rather than directly transferring cryptocurrencies to a merchant, cardholders will now be able to instantly convert their cryptocurrencies into traditional fiat currency which can be spent everywhere Mastercard is accepted around the world, both online and offline,” the company said. Although Mastercard didn’t specify which cryptocurrencies would be supported, the company singled out Bitcoin ( BTC ) and Ether ( ETH ) as two as...

Fed board member to leave by 2022, leaving Biden to fill 3 seats

Randal Quarles has been a member of the Federal Reserve Board as well as its vice-chair for supervision since 2017. Randal Quarles has resigned his position from the Board of Governors of the Federal Reserve System, effective by the end of December. In a Friday resignation letter addressed to United States President Joe Biden, Quarles said he planned to leave the Fed “during or around the last week of December of this year” after serving at the government agency for more than four years. He has been a member as well as its vice-chair for supervision since 2017, with terms expected to end in January 2032 and October 2021, respectively. Seven members are expected to sit on the Federal Reserve System’s Board of Governors, each nominated by the current U.S. president and confirmed by the Senate. With the departure of Quarles, President Biden will likely have at least three nominations, given that current vice-chair Richard Clarida is expected to leave in January 2022. Former boa...

The Future of Nightlife Is Here: Bitcoin of America Adds Bitcoin ATM to Joy District Chicago

PRESS RELEASE. Popular Bitcoin ATM operator, Bitcoin of America, has announced their newest location in one of Chicago’s hottest nightclubs. Joy District is known for its nightclub/restaurant hybrid. It is located in the heart of River North and has been awarded as one of Chicago’s best and hottest rooftop bars. You can now socialize at Joy District with friends and even interact with a Bitcoin ATM all at the same time. Bitcoin of America is a popular virtual currency exchange, registered as a money services business with the United States Department of Treasury (FinCEN)(RegNum). Bitcoin of America is known for ensuring a fast and hassle-free transaction, while providing top of the line customer support. They are headquartered in Chicago and have locations in most major cities across 31 US states. To date, Bitcoin of America has 30 plus Bitcoin ATM locations across the city of Chicago. You can find a majority of their locations in convenience stores, liquor stores, and 24-hour gas s...

FarmVille NFTs on the horizon? Zynga hires new VP for blockchain gaming

Zynga will work on integrating NFTs and blockchain into its existing portfolio in addition to developing new NFT-based games. Nonfungible tokens (NFTs) scored another win with gaming giant Zynga’s announcement of the upcoming integration of NFTs and blockchain into the publisher’s portfolio. San Francisco-based game developer Zynga, best known for its FarmVille and CSR Racing series, appointed marketing veteran Matt Wolf as its vice president to oversee the company’s blockchain gaming efforts. With the addition of Wolf, Zynga will work on integrating NFTs and blockchain into its existing portfolio in addition to developing new NFT-based games. Zynga chief product officer Scott Koenigsberg noted that the company became an early adopter of emerging platforms and technologies with new releases on Snap Games, Google Nest and Amazon Alexa. Remarking on the prominence of blockchain technology in the digital economy, Koenigsberg said that Wolf would help them reach a new addressable mark...

DeFi protocol Acala raises $400M in crowdloans during first Polkadot parachain auction

Both parachains on Polkadot and DeFi functions on Acala are still undergoing heavy development. Decentralized finance protocol Acala announced Monday that they have raised 8.5 million DOT (worth $451.8 million at time of publication) from over 53,000 participants. The protocol is also set to win the first parachain auction on Polkadot. Unlike typical crowdfunding rounds, Acala's financing mechanism is a crowdloan, which means it will eventually need to pay back the "crypto debt" it has solicited from investors. On Friday, Polkadot developers added the first parachain onto its network. Parachains are custom, project-specific blockchains that can be integrated into the main blockchain. The distinguishing feature of Polkadot is its Cross-Consensus Message Format. In essence, it would enable users to send and receive assets and execute smart contracts between parachains. Currently, however, the technology is still under heavy development. Polkadot's first parachain...

Price analysis 11/8: BTC, ETH, BNB, ADA, SOL, XRP, DOT, SHIB, DOGE, AVAX

Bitcoin and Ethereum are taking full control of the market and technical analysis shows altcoins intend to keep pace with the top 2 cryptocurrencies. Bitcoin ( BTC ) is close to making a new all-time high and Ether ( ETH ) finally soared to hit a new high at $4,800. This pushed the total crypto market capitalization above $3 trillion for the first time ever on Nov. 8, according to data from CoinGecko. Data from Santiment shows that Bitcoin whales holding between 10,000 BTC to 100,000 BTC in their wallets have been buying aggressively in the past few days. They have added 92,000 Bitcoin in the past 25 days, out of which roughly 43,000 have been purchased in the past five days. Daily cryptocurrency market performance. Source: Coin360 Another important group that has been holding their stash is the Bitcoin miners . Data from CryptoQuant shows that barring a few exceptions, the outflows from miner wallets have largely remained flat in the past few months. Could th...

Athletic Shoe Giant Nike Looks Poised to Tackle Metaverse and NFTs: Report

Nike, the American multinational footwear and sports apparel giant, is getting ready to step into the metaverse and the world of non-fungible token (NFT) technology. Reports show Nike has a few employees “thinking about the metaverse” and a 2019 patent for “cryptokicks” indicates Nike has been preparing to use NFTs for quite some time. Nike’s Well-Known Trademarks and ‘Downloadable Virtual Goods’ Several reports indicate that Nike ( NYSE:NKE ) is getting ready to step into the non-fungible technology realm and the footwear corporation may have been preparing to do so for a while now. The senior correspondent at Business Insider’s (BI) retail desk, Matthew Kish, explains in a recent analysis that “Nike is going all in on its metaverse play.” The report discusses Nike’s recent U.S. Patent and Trademark Office filing published this week. A number of well-known trademarks Nike owns were also included such as the “ Just Do It ” tagline, its SNKRS logo, the Air Jordan “Jumpman,” and...

Bitcoin flippens Tesla and Facebook — will Amazon be next?

The price rise over the weekend put Bitcoin’s market cap within $600 billion of Amazon. After rising above $66,000 today and reaching a market capitalization of more than $1.2 trillion, Bitcoin has surpassed the total market cap of both car manufacturer Tesla and social media giant Facebook. According to data from AssetDash, Bitcoin ( BTC ) is now the sixth most valuable asset by market capitalization among major companies, behind Microsoft, Apple, Google's parent company Alphabet, Saudi Aramco, and Amazon. The crypto asset passed Tesla’s and Facebook’s market caps of $1.19 trillion and $975 billion, respectively, as its price hovers close to $66,000 and within striking distance of its all-time high of $67,000. The recent price rise puts Bitcoin’s market cap within $600 billion of Amazon. Tesla CEO Elon Musk’s recent announcement that he planned to sell 10% of his Tesla holdings could have contributed to the BTC volatility over the weekend when the crypto asset rose more tha...

BREAKING: BlockFi files for physically-backed Bitcoin ETF

The Securities and Exchange Commission is scheduled to rule on another spot Bitcoin ETF application from VanEck by Nov. 14. Cryptocurrency lending firm BlockFi has filed paperwork with the United States Securities and Exchange Commission, or SEC, to launch a physically-backed Bitcoin exchange-traded fund, kicking off what's expected to be a big week for the crypto markets. The Form S-1 filing for BlockFi NB Bitcoin ETF was submitted to the SEC on Monday, according to official documents. The filing states that BlockFi will serve as custodian and that the ETF’s investment objective is to reflect the underlying performance of Bitcoin as opposed to any futures or derivatives benchmark. The filing further states that the “Trust will not purchase or sell bitcoin directly, although the Trust may direct the Custodian to sell bitcoin to pay certain expenses.” News of the ETF listing circulated on Crypto Twitter amid speculation that the SEC may be nearing its first physical Bitcoin E...

DeFi tokens see double-digit gains as Ethereum and Bitcoin chase new highs

UMA, LRC and GNO broke out on the heels of Ethereum hitting a new all-time high and BTC price trading above a key resistance. Momentum in the cryptocurrency market is back on the rise on Nov. 8 after a solid rally from Bitcoin ( BTC ) placed the price back above $66,000 and Ether hit a new all-time high at $4,793. The gains from the largest two cryptocurrencies helped to kickstart a market-wide rally that lifted the total cryptocurrency market cap above $3 trillion for the first time . Unlike previous rallies where BTC would make significant gains at the expense of the altcoin market, this time a majority of tokens in the top 200 are likewise in the green with many projects seeing double-digit gains. Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were UMA (UMA), Loopring (LRC) and Gnosis (GNO). UMA releases a cross-chain bridge ...