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Showing posts from November 24, 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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MetaWars Launchpad Revolutionizing the GameFi Industry as the ‘First’ Cross-Game Metaverse Launchpad

PRESS RELEASE. MetaWars is the first project to unite the world of metaverses – with the first of its kind MetaWars Launchpad portal. For the first time, players will be able to build portals that transfer characters, currencies, and assets between game worlds. This builds on Meta (previously known as Facebook) and enhances their vision. With the MetaWars Launchpad, players can mine for different cryptocurrencies from different multiverses, injecting additional play-to-earn features. It’s positioned to become the main way new people enter into the blockchain economy, and the best way to break into the mainstream. This is an enormous opportunity in this space. MetaWars will become the first metaverse launchpad, filling a highly important role. By aligning with new projects in the future, MetaWars will lead the way for the GameFi movement and provide more value to the blockchain gaming community and entire industry. Introducing MetaWars MetaWars completed a successful IDO and the t...
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Number of Africa-Based Users on Kucoin Platform Surge by 200% in First 10 Months of 2021

Despite largely lagging behind the rest of the world on many other metrics, Africa however appears to have taken the lead where cryptocurrency or the blockchain is concerned. Africa-Based Kucoin Users Skyrocket in 2021 In African countries that are plagued by currency woes or hyperinflation, cryptocurrencies have emerged as a genuine alternative store of value. The same digital currencies are also increasingly becoming the preferred means of sending remittances or for making cross-border payments. In other words, cryptocurrencies have real uses in Africa besides trading. However, as Johny Lyu, the CEO of Kucoin — one of the biggest crypto exchanges in the world — observes, many African cryptocurrency users or holders are starting to become more interested in the trading side of things. In fact, in his written responses to questions that were sent to him via Linkedin, Lyu reveals that more African users are venturing into futures or margin trading. The CEO also explains how his org...
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The Metaverse is a $1T opportunity after users increase 10X: Grayscale report

According to a new report from Grayscale, the rate of active Metaverse users increased by 10X between the start of 2020 and June 2021. Crypto investment giant Grayscale has published a bullish report on the Metaverse, estimating that the “market opportunity” for bringing the Metaverse to the mainstream may be worth over $1 trillion in the next few years. The November report titled “The Metaverse, Web 3.0 Virtual Cloud Economies” was authored by Grayscale Head of research David Grider and research analyst Matt Maximo. The duo explores the burgeoning sector primarily from the perspective of open Metaverse worlds backed by an “interconnected crypto-economy” such as Decentraland. The report highlights that Metaverse platforms integrated with crypto tokens, decentralized finance (DeFi) services such as staking and lending, NFTs, decentralized governance and decentralized cloud storage have “created a new online experience” that’s rapidly attracting new users. Analyzing “global all-t...
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Experts divided on how far India's 'private crypto' ban will go

Previous documents from the Indian government indicate that it believes any cryptocurrencies not issued by the government are considered private, and therefore could be banned. Government documents from 2019 have been cited by an Indian crypto expert to suggest that the proposed ban on all “private cryptocurrencies” could include just about every crypto.  The Indian government this week announced it would introduce the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 when it convenes at the Winter Session on Nov. 29. The bill seeks a legislative vote on creating an official digital currency while imposing a ban on “all private cryptocurrencies.” However, there seems to be a lot of confusion regarding what exactly constitutes a “private cryptocurrency," with some users speculating it could refer to "privacy" coins such as Monero or Zcash. Founder of crypto news website CoinCrunch India, Naimish Sanghvi, explained in a Nov. 25 interview on India...
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Clinton: Regulate crypto to stop manipulation by Russia and China

The former Secretary of State warns that if left unregulated, cryptocurrency markets and social media platforms could destabilize the US Dollar as the reserve currency Former Secretary of State HIllary Clinton has said that cryptocurrency markets need stronger regulations to protect against technological manipulation by Russia, China, and others. Her comments on cryptocurrency were part of a larger segment  in a Nov. 24 interview with MSNBC TV news host Rachel Maddow on the manipulation of social media platforms by certain nations. Clinton’s warning extended to “technology of all kinds” which she said states and non-state entities could use to destabilize countries and the dollar as the reserve currency of the world. She said, “There’s one other thing that’s on the horizon which people are only beginning to pay attention to, and that’s the need to regulate the cryptocurrency market.” “Imagine the combination of social media, the amassing of even larger sums of money through th...
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Elon Musk Calls Binance’s Dogecoin Problem ‘Shady’ — Says He’s Raising the Issue on Behalf of Other DOGE Holders

Tesla and Spacex CEO Elon Musk has raised concerns with cryptocurrency exchange Binance about its dogecoin issue. Musk calls the situation “shady,” adding that “DOGE holders using Binance should be protected from errors that are not their fault.” Both Binance CEO Changpeng Zhao and the official Twitter account for the crypto exchange responded. Elon Musk Raises Issue on Behalf of Other Dogecoin Holders Tesla CEO Elon Musk has raised concerns on behalf of dogecoin holders regarding the recent DOGE problem at cryptocurrency exchange Binance. The issue resulted in numerous erroneous dogecoin transactions with some users reporting that their accounts were frozen. Musk, who is sometimes known as the Dogefather, asked Binance CEO Changpeng Zhao (CZ), “What’s going on with your Doge customers?” He added, “Sounds shady.” His tweet gained much attention. At the time of writing, it has received 4.5K comments and liked 24.1K times. Both Zhao and the official Twitter account for Binance repl...
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Celsius expands funding round to $750M, tips $7B to $10B valuation in 2022

Celsius CEO Alex Mashinsky said that the oversubscribed $750 million funding round was a “very good indication” of the strength of the company's lending and yielding brand. Crypto lending firm Celsius Network has expanded its $400 million Series B round from October to $750 million as a result of oversubscription in the firm’s capital raise. The company is now valued at $3.5 billion following the raise and CEO Alex Mashinsky told Cointelegraph he expects that figure to “double or triple” next year which would see it valued between $7B and $10.5B The firm previously closed the round on Oct. 12 amid a period of intense scrutiny placed on crypto lending firms from local regulators. Celsius CEO Alex Mashinsky emphasized at the time that “it’s not $400 million. It’s the credibility that comes with the people who wrote those checks.” In an announcement shared with Cointelegraph on Nov. 25, Celsius outlined that new funds will go towards expanding into new markets and product offer...
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Animoca to repay users 265 ETH stolen in fake NFT drop Discord hack

The attack is the latest in a long string of exploits targeting users on Discord with fake “stealth” NFT drops. Hong Kong-based gaming and venture capital company Animoca Brands and subsidiary Blowfish Studios have promised users that they will repay 265 ETH (US$1.1 million) stolen in a fraudulent nonfungible token (NFT) sale on D`iscord. The fraudulent minting event occurred at approximately 3 AM AEDT on Nov 19 on the Phantom Galaxies Discord server. It saw 1,571 fake minting transactions over the course of about three hours. Phantom Galaxies is an upcoming Australian game being developed by Blowfish Studios. The Phantom Galaxies Discord server has 94,000 members. In an increasingly common occurrence on Discord, hackers gained control of the official Phantom Galaxies server by using a malware bot that compromised the Admin account’s two-factor authentication. Once in control of the Discord server, the hackers banned all staff, advisor, and community moderator accounts. Screensh...
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Bitcoin mining power crunch: Kazakhstan looks toward nuclear solution

The country saw a great influx of miners this year, but it might have to sacrifice the immense tax revenue from Bitcoin miners if power grid issues are not resolved. The exodus of Bitcoin miners from China into Kazakhstan has contributed to an energy crunch that the central Asian country’s president has proposed solving with nuclear energy. Kazakhstan’s Ministry of Energy has attributed the 8% increase in domestic electricity consumption throughout 2021 to Bitcoin miners. The country received at least 87,849 Bitcoin mining machines from Chinese companies so far this year following China’s crackdown on crypto mining , according to data from the Financial Times . The substantial increase in demand has led to a deficit in the domestic power supply and contributed to unreliable electricity services, according to the Kazakhstan Electricity Grid Operating Company. President Tokayev told bankers at a Nov. 19 meeting that he thinks building a nuclear power plant will help ease the stre...
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Hillary Clinton Calls on Biden Administration to Regulate Cryptocurrency — Warns of Manipulation by Russia, China

Former presidential candidate Hillary Clinton has called on the Biden administration to regulate the cryptocurrency markets. She warned that countries like Russia or China, as well as nonstate actors, could manipulate all kinds of technology to their advantage and destabilize countries as well as the dollar as the world’s reserve currency. Hillary Clinton Stresses the Importance of Crypto Regulation Hillary Clinton, former Democratic presidential candidate, talked about cryptocurrency Tuesday in an interview with MSNBC. She elaborated on her crypto statement last week and warned that the technology may be manipulated by countries like China and Russia to undermine the United States. She stressed “the need to regulate the cryptocurrency markets,” noting that “it’s on the horizon that people are only beginning to pay attention to.” “Imagine the combination of social media, the algorithms that drive social media, the amassing of even larger sums of money through the control of certai...
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Bank of Russia Pushes to Introduce Liability for Illegal Use of Digital Assets

The monetary authority in Moscow, the Bank of Russia, wants those who use cryptocurrencies against the law to be held accountable. The financial regulator has proposed the introduction of legal liability for some operations with digital assets which it considers illegal. Central Bank of Russia Aims to Prevent Circulation of Decentralized Currencies Cryptocurrencies in the Russian Federation, as well as related activities, remain only partially regulated, mainly through the law “On Digital Financial Assets,” which went into force at the beginning of this year. One of the aspects that is still unclear is whether digital coins can be used to pay for goods and services. The Central Bank of Russia ( CBR ) has remained consistently opposed to allowing payments with bitcoin and the like. The authority claims these are all “ money surrogates ” that are banned under current Russian legislation which recognizes the ruble as the only legal tender in the country that spans 11 time zones. Th...
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Spaceseven’s Game-Changing NFT Marketplace

PRESS RELEASE. Recently, on the 23rd of November, SpaceSeven launched its state-of-the-art NFT marketplace. The SpaceSeven marketplace is the first of its kind — one of the few — if not the only scaled e-commerce, fully regulatory compliant platform. By combining powerful NFT marketplace technology from Tacans , a Swiss-based Software development house, and Venture Builder, with an R&D center in Ukraine and the vanguard Concordium blockchain platform, SpaceSeven achieved a world-class NFT Marketplace that is expected to fundamentally transform artists’ exposure and recognition. With the Concordium blockchain platform, SpaceSeven is able to offer significantly lower gas fees — literally a fraction of the cost of Ethereum or other proof-of-work protocols — and at the same time facilitate transaction speeds that are ten times faster. Packed with several game-changing features like ‘Universes’ that deliver unique experiences through exclusive customized galleries, SpaceSeven is ...
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Coinbase acquires crypto wallet provider BRD's team as utility token price surges 500%

“Nothing will change in the BRD wallet app and as always, your funds are safe and secure,” said BRD CEO Adam Traidman and co-founder Aaron Voisine. Crypto wallet provider BRD said “nothing will change” for users following an acquisition from major U.S. crypto exchange Coinbase. In a Wednesday letter to BRD users, CEO Adam Traidman and co-founder Aaron Voisine said some of the company’s team members would be moving to Coinbase to continue working on crypto wallets. Coinbase Wallet said on Twitter that the addition of the BRD team would “help accelerate web3 adoption” as well as provide “deep expertise in self-custody.” “Nothing will change in the BRD wallet app and as always, your funds are safe and secure,” said the BRD execs. “In the future, BRD wallet users will have an optional migration path to self custody with Coinbase Wallet.” Formerly known as Breadwallet, BRD is behind the utility token Bread (BRD). According to data from CoinMarketCap, the token price surged more than...
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Play-to-Earn Gaming Guild Raises $18 Million in Funding Round Led by Animoca Brands

A play-to-earn (P2E) blockchain gaming guild has raised $18 million in a Series A financing round according to an announcement on Wednesday. Avocado Guild detailed that the firm raised the funds from investors such as Animoca Brands, Goldentree Asset Management, Three Arrows Capital, and Solana Ventures. P2E Organization Avocado Guild Raises $18 Million From Strategic Investors According to an announcement from Avocado Guild on Wednesday, the organization raised $18 million from strategic investors. The capital raise stemmed from the firm’s Series A funding round which gave Avocado Guild an overall valuation of around $200 million. Avocado Guild's Series A Fundraise has officially closed in at $18 Million co lead by @animocabrands @kyled116 @hashed_official #QCP Soteria Thank you to our investors, and most importantly our fellow Avocadians. Time to build the future of P2E. #avocadodao pic.twitter.com/mdAH9MzpHZ — Avocado Guild 🥑 (@Avocadoguild) November 24, 2021 ...
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SEC open meeting on Dec 2 to include crypto panel discussion

The SEC is opening discussion on crypto and blockchain technology with regard to American investors. The U.S. Securities and Exchange Commission, or SEC, announced Nov 24 the title of the upcoming crypto panel for its Dec 2 Investor Advisory Meeting will be “Helping to Ensure Investor Protection and Market Integrity in the Face of New Technologies”. Previously on Nov 15, the Commission announced the meeting would be open to the public. Panelists and moderators will attend remotely. The crypto panel discussion agenda will focus on the regulatory framework covering digital assets, market structure issues, and defining risk in emerging technologies. Additional topics are expected to include blockchain technologies, crypto-based EFTs, and stablecoins. Half of the panelists are in blockchain specific roles: Ali Emdad, Professor and Associate Dean, Earl G. Graves School of Business and Management at Morgan State University, and Founding Director of the Center for the Study of Blockc...
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Morgan Stanley increased exposure to Bitcoin, held $300M in Grayscale shares

The investment firm's exposure to Bitcoin across three major funds totals roughly $303 million with 6,626,381 shares as of Sept. 30. Investment funds from major U.S. investment bank Morgan Stanley have increased their exposure to Bitcoin through purchases of shares of Grayscale Bitcoin Trust. According to filings from the United States Securities and Exchange Commission on Nov. 23, the Morgan Stanley Insight Fund increased its holdings of Grayscale Bitcoin Trust, or GBTC, shares more than 63%, from 928,051 in the second quarter of 2021 to 1,520,549 as of Sept. 30. In addition, filings on the firm’s Growth Portfolio show it holding 3,642,118 GBTC shares in the third quarter of 2021, an increase of 71% when compared with 2,130,153 shares as of Q2. The Morgan Stanley Global Opportunity Portfolio held 1,463,714 GBTC, a 59% increase from 919,805 shares in three months. At the time of publication, the price of GBTC is $45.72, making the investment bank’s exposure to Bitcoin ( BTC ...
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Ethereum Has Burned More Than a Million ETH Over the Last 3 Months

111 days ago, the Ethereum network implemented the London hard fork upgrade which added a mechanism (EIP-1559) that changed Ethereum’s fee rate to a new scheme that makes the crypto asset ether deflationary. Since then 1 million ether has been burned or the equivalent of around $3.8 billion worth of ethereum using today’s exchange rates. Over a Million Ether or $3.8 Billion Burned to Date The second-largest crypto asset in terms of market capitalization, ethereum ( ETH ) has an overall valuation today just above $500 billion. Ethereum’s market capitalization represents 18.8% of the $2.7 trillion crypto economy. Three months ago, on August 5, 2021, the Ethereum blockchain upgraded and added various features to the consensus rules. The most transformative included EIP-1559 and EIP-3554 , and EIP-1559 in particular created a new fee rate scheme that allows the network to burn a portion of ether. EIP-1559’s summary hosted on Github states: There is a base fee per gas in protocol, wh...
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One million ETH worth have been burned since the implementation of EIP-1559 in August

On a net basis, however, the supply of Ether is still inflating at about 1.2% per year. In a Twitter post published Wednesday, blockchain research firm CryptoRank revealed that over 1 million Ether ( ETH ) worth $4.24 billion had been burned since the introduction of the EIP-1559 protocol in August as part of the London hard fork . The EIP-1559 protocol reformed the Ethereum fee market, modifying the limit for gas fees and introducing a burn feature that takes a portion of transaction fees on the blockchain out of circulation, to be canceled permanently. Notable decentralized applications responsible for token burn contributions include popular nonfungible tokens, or NFTs , platform OpenSea.io and play-to-earn NFTs game Axie Infinity. Next, transaction volume from decentralized exchanges such as Uniswap, 1inch, and Sushiswap made up a large portion of ETH burns. ETH is also burned from transfers from stablecoins like Tether ( USDT ) and USD Coin ( USDC ) built on the Ethereum blockc...
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Price analysis 11/24: BTC, ETH, BNB, SOL, ADA, XRP, DOT, DOGE, AVAX, CRO

Bitcoin and most major altcoins are struggling to find bullish momentum, a possible signal that prices could continue to erode. Bitcoin ( BTC ) and most major altcoins continue to be pinned below their respective overhead resistances, indicating that bears are selling on rallies. According to Ki Young Ju, CEO of on-chain analytics firm CryptoQuant, “ whales are depositing Bitcoin to exchanges .” Curiously, the outflows from the exchanges have also continued and due to this, the reserves are still hovering close to their lowest levels since mid-2018. In a somewhat contradictory report, Glassnode said that long-term holders may be “reducing their spending , and thus are more likely to be adding to positions, not exiting them.” Daily cryptocurrency market performance. Source: Coin360 While Bitcoin has been in a corrective phase in dollar terms, it has proven to be a savior of purchasing power for Turkish investors . While the lira continues to lose value in 2021, Bitcoin in lira ...
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Bitcoin sees fresh split-second spikes as analysts say 'almost time' for BTC uptick

Fits and starts below crucial resistance at $60,000 continue with Bitcoin's RSI due to rebound. Bitcoin ( BTC ) continued its pattern of sudden price spikes on Nov. 24 as sudden momentum produced a brief trip above $57,400. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst: 2021 still conforms to bullish pattern Data from Cointelegraph Markets Pro and TradingView  showed BTC/USD making skittish moves within a familiar range during Wednesday. The pair reached highs of $57,875 on Bitstamp over the past 24 hours, these failing to hold for long as buyer support still waned closer to $60,000 resistance. Amid an overall uninspiring market environment, some took the opportunity to highlight ongoing similarities between 2021 and previous bull market years. Popular Twitter account TechDev focused on Fibonacci levels and Bitcoin's behavior around them — this year, so far, has conformed exactly to the standard rubric. All 3 full #BTC cycles saw a "mid...
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