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Showing posts from November 27, 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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Tanzanian Central Bank Preparing for CBDC to Ensure Country Is Not Left Behind

Florens Luoga, the governor of the Bank of Tanzania, said the apex bank has kickstarted preparations for a central bank digital currency. He said the bank was doing this to ensure Tanzania is not left behind as other countries adopt digital currencies. Keeping Abreast With Developments on the Continent The Bank of Tanzania (BOT) has started preparations for its digital currency to ensure the country is not left behind others in adopting central bank digital currencies (CBDC), a Bloomberg report has said. The announcement follows reports that Zanzibar — an autonomous Tanzanian region off the coast of East Africa — is also keen on adopting digital currencies. The move by the BOT, which was confirmed by governor Florens Luoga, also comes almost a month after the Central Bank of Nigeria (CBN) became the first central bank on the continent to launch a CBDC. Explaining why the BOT is now eager to launch its CBDC, Luoga is quoted highlighting the importance of not being left behind, sa...
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Sneaker Giant Adidas Says the Metaverse Is ‘Exciting,’ Reveals Partnership With Coinbase

The German multinational shoe and sportswear corporation Adidas recently announced the company has partnered with the cryptocurrency exchange Coinbase. Two days prior, The Sandbox tweeted about the popular shoe company and showed a video clip of Adidas real estate in the Sandbox metaverse. Metaverse Is an ‘Interesting Platform for Adidas’ According to a recent statement from an Adidas spokesperson speaking with City A.M.’s Lily Russell-Jones, the company is very focused on the metaverse. “The Metaverse is currently one of the most exciting developments in digital, making it an interesting platform for Adidas,” the company spokesperson explained to Russell-Jones on Thursday. It all started on Monday, November 22, when The Sandbox tweeted about the multinational shoe and sportswear firm. “Hey @adidasoriginals, impossible is nothing in the Metaverse. What if we invite all of the original thinkers and do-ers to design our future together?” The Sandbox tweeted . The Sandbox is a blo...
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Kevin O’Leary on SEC v Ripple Lawsuit Over XRP: ‘I Have Zero Interest in Investing in Litigation Against SEC’

Shark Tank star Kevin O’Leary, aka Mr. Wonderful, says he has zero interest in investing in anything with litigation from the U.S. Securities and Exchange Commission (SEC). “That is a very bad idea,” he said. Discussing the SEC lawsuit against Ripple over XRP , he emphasized: “I have no interest in being a crypto cowboy … I have to be compliant.” Kevin O’Leary Says He Must Not Upset Regulators Shark Tank star Kevin O’Leary, the chairman of O’shares ETF, talked about cryptocurrency, bitcoin, XRP , Ripple’s lawsuit, and crypto regulation in an interview with CNBC published Friday. He explained that he prefers to consult with regulators regarding cryptocurrency in order to find out “what’s possible and what isn’t.” Commenting on the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against Ripple over the sale of XRP , O’Leary stressed: I have zero interest in investing in litigation against the SEC. That is a very bad idea. The SEC sued Ripple, its CEO Brad Ga...
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Retail Giant Newegg Confirms Shiba Inu ‘Coming Soon’ as AMC Theatres Gets Ready to Accept SHIB Payments

A major tech-focused e-commerce platform, Newegg, has announced that SHIB is coming soon to its platform. Newegg currently accepts cryptocurrencies via Bitpay. The crypto payment service provider is expected to add SHIB support soon, according to AMC Theatres CEO Adam Aron who said his company will start accepting SHIB for payments in the first quarter. SHIB Is Coming Soon to Newegg, the Company Says E-commerce platform Newegg announced on Twitter Friday that SHIB is coming soon to Newegg. Newegg Inc. is one of the leading tech-focused online retailers in North America, with a global reach in Europe, Asia Pacific, Latin America, and the Middle East. Its platform focuses on computer parts, PC components, laptops, gaming systems, automotive parts, and office supplies. Newegg did not elaborate further on its SHIB announcement. However, the platform currently accepts a number of cryptocurrencies via Bitpay. The crypto payment service provider is expected to add shiba inu to its list ...
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El Salvador Buys 100 More Bitcoins Amid Crypto Sell-Offs and New Covid-19 Variant Scare

As reports of a new Covid-19 strain spread, tanking the price of many cryptocurrencies, El Salvador bought the dip. The country has added 100 more bitcoins to its treasury despite a recent warning by the International Monetary Fund (IMF), bringing the total number of bitcoins purchased to 1,220. El Salvador Buys the Dip: 1,220 Bitcoins Purchased to Date El Salvador has taken advantage of the Friday sell-off and purchased 100 more bitcoins as reports of a new coronavirus variant spread. The Salvadoran president, Nayib Bukele, tweeted on Black Friday that his country has bought the dip. “100 extra coins acquired with a discount,” he wrote. An advisory panel of the World Health Organization (WHO) on Friday classified the new Covid-19 variant, first detected in South Africa, as a highly transmissible virus, naming it “Omicron.” The crypto market shed billions of dollars on Friday amid reports of the new coronavirus strain. The price of bitcoin fell from $59,165 Thursday afternoon ...
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NFT land sells for 550 ETH, eToro to delist ADA and 1M ETH burned since August: Hodler’s Digest, Nov. 21-27

Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link. Top Stories This Week Axie Infinity virtual land slot sells out for 550 ETH A plot of virtual land in the widely popular monster-battling NFT game Axie Infinity sold for 550 Ether ( ETH ) this week, with the sum worth more than $2.2 million at the time of writing. The piece of virtual land was purchased on Thursday and is classified as Genesis, the rarest form of virtual real estate available in the Axie Infinity ecosystem. The game enables players to use Pokmon-like Axie monster NFTs to battle other players or complete challenges to earn blockchain rewards. Users can also buy, sell or rent land to other players. The games developers said on Thursday that they believed it was the largest sum ever paid for a single plot of ...
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‘We’ve All Decided Centralized Banking Is Rigged’ — South Park Episode Features a Bitcoin-Only Future

South Park’s recent episode called the “Post COVID” special mocks a future where the only currency accepted is bitcoin and other cryptocurrencies. The hour-long animated sitcom picks up years into the future where the main characters are now all grown up, except Kenny McCormick who is dead. Stan Pays for a 1 Night Stay at the ‘Super 12 Motel Plus’ in the Future Using Bitcoin The popular television sitcom South Park featured on Comedy Central is extremely well known in today’s pop culture ever since Trey Parker and Matt Stone created the show in 1997. Over the last 24 years, the animated sitcom has aired more than 300 episodes and in more recent times, Stan Marsh, Kyle Broflovski, Eric Cartman, and Kenny McCormick have been dealing with an interesting world. In the latest episode called “Post COVID,” Stan, who is now an online whiskey consultant, is told by Kyle that Kenny had passed away. When Stan decides to go to Kenny’s funeral services, he spends his stay at the Super 12 Motel ...
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Despite Crypto Market Rout, Total Value Locked in Cross-Chain Bridges Jumps 9% in 30 Days

30 days ago on October 28, the total value locked (TVL) in cross-chain bridges to Ethereum was around $22.48 billion and in the face of the recent market dump, the TVL still increased by 9.56%. At the time of writing, there are 135,148 unique depositors and Axie Infinity’s Ronin Bridge holds the largest TVL. Cross-Chain Bridge TVL Continues to Climb While the total value locked in decentralized finance (defi) is $258 billion , the TVL is split among a myriad of blockchains. This includes blockchain networks such as Ethereum ( ETH ), Binance Smart Chain (BSC), Solana (SOL), Avalanche (AVAX), terra (LUNA), tron (TRON), Fantom (FTM), and Polygon (MATIC). Today, Ethereum commands $170.48 billion of the $258 TVL in defi or 65.89% of the aggregate. Binance Smart Chain captures $19.11 billion on Saturday, which is only 7.40% of the TVL. Solana commands a $13.86 billion TVL this weekend or 5.37% of all the value locked in defi. Many of these defi networks leverage a connection to the Et...
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The Holy Grail for crypto traders: Consistent average returns over 5%

Over 2,000 data points consistently demonstrate a singular truth: Crypto asset prices tend to increase when this quant algorithm identifies bullish conditions. If you look at crypto assets’ price movements as a series of isolated events, the picture is messy. Sure, some traders can occasionally win big off one-time events or thanks to sensing a meme-inspired trend. In the long run, however, most of these “fortuitous” traders tend to lose. Why? Because they have to pick big-time winners to cover all the times they miss their targets. For every Shiba Inu, there were a thousand coins that didn’t moon. Which is why crypto traders who employ processes rather than try to predict events are more likely to fill their bags in the long run. They trade on probabilities rather than hoping that Token X goes parabolic next week. They win on aggregate numbers instead of sexy-looking one-offs. If you offered them average weekly returns of over 5% on trades... they'd bite your hand off. T...
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Data Shows a Myriad of Crypto Networks Are More Profitable to Mine Than Bitcoin

As the end of the year approaches, digital currency values have risen a great deal in 2021 and crypto asset miners have been profiting as a result. According to statistics, the most profitable coin to mine at the end of November is kadena, as an 18 terahash (TH/s) machine can get up to $326 per day. Scrypt coins are the second most profitable these days with up to $110 per day and Ethash miners can make up to $105 per day. Kadena, Scrypt, Ethash, and Eaglesong Mining Far More Profitable Than SHA256 Mining Close to 13 years ago when Bitcoin first launched, the cryptocurrency could be mined with a central processing unit (CPU). This means that anyone with a decent computer at the time could mine and find bitcoin ( BTC ) block rewards. After that phase, people started to leverage devices with specialized electronic circuits called graphics processing units (GPUs). Today, bitcoin miners utilize application-specific integrated circuit (ASIC) devices to mine BTC . Bitcoin mining rigs ded...
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Bitcoin’s Hashrate Dips, Mining Difficulty Expected to Decrease for First Time Since July

Bitcoin’s hashrate has been volatile in recent times following the same patterns as the crypto asset’s price. Three days ago, Bitcoin’s hashrate neared the 180 exahash (EH/s) zone only to plummet to 128 EH/s two days later. The recent shifts have taken place before the upcoming network difficulty adjustment, which is due to change on Sunday. After nine increases in a row and for the first time since mid-July, the difficulty will drop lower instead of increasing. Bitcoin Hashrate Slides Following Price Drop — Mining Difficulty Decrease Expected The fiat value of bitcoin ( BTC ) has caused the network’s processing power to slow down toward the end of November. Seven days ago, Bitcoin.com News reported on how Bitcoin’s hashrate was steadily climbing higher during the last three months. Today, BTC ’s hashrate is coasting along at 168 EH/s after reaching a high of 178 EH/s on November 24. After reaching that high on Wednesday, on Friday the hashrate dropped to a low of 128 EH/s, losing 2...
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Facebook’s centralized metaverse a threat to the decentralized ecosystem?

Facebook’s metaverse plans have caused discomfort in the crypto community, but there’s every reason to believe in a decentralized future for metaverses. Facebook has been planning its foray into the metaverse for some time now — possibly even several years. But it’s only recently that its ambitious expansion plans have catapulted the concept into mainstream headlines across the globe. Renaming the parent company to Meta was perhaps the biggest, boldest statement of intent the firm could make. Suddenly, major news outlets were awash with explainer articles, while finance websites have been bubbling with excitement about the investment opportunities in this newly emerging sector.  However, within the crypto sphere, the response has been understandably more muted. After all, decentralized versions of the metaverse have been in development around these parts for several years now. Even worse, the tech giants’ cavalier attitude to user privacy and data harvesting has informed many o...
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NFTs as micro-social networks: The path to crypto adoption

Nonfungible tokens could be a step toward new social interactions, a notion that might not be as far-fetched as it sounds. Nonfungible tokens (NFTs) are evolving from a niche interest to a mainstream conversation. The variety of NFT art — from cuddly to edgy to menacing — is drawing in a new audience of enthusiasts. Beyond the art, NFTs are providing a glimpse into a new layer of social interaction. When framed as micro-social networks, NFTs could lead the way to a new form of social media based on creativity, ownership and contribution.  Groups serve as epicenters of NFTs projects Every week, dozens of Discord and Telegram groups appear in support of new NFT projects. These groups serve as the epicenter for a project and help people connect and learn about the NFT space. A quick listen to a Twitter Spaces conversation with one of these groups reveals a wide range of people interested in NFTs. Some members are seasoned crypto users, many are new to NFTs and some have never use...
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Nigerian Artist Davido Launches Fan Token That Gives ‘Power Back to the Fans’

Nigerian artist Davido has launched a fan token, the Echoke Social Token, that he says gives “power” to his millions of fans. Eliminating the Middlemen A Nigerian pop artist and celebrity, Davido, recently announced the launch of his fan token, the Echoke Social Token, via his Instagram account. According to Davido’s Instagram post , this token not only eliminates unnecessary third parties, but also allows him to directly connect with fans. Davido explained: Happy to finally announce this thing we’ve been working on for a while. It’s the ‘Echoke Social Token’. Everyday, millions of fans create value that is captured by a few execs in a boardroom. Not any more. We’re giving the power back to the fans. He added that holders of the token will get free access to giveaways, NFTs, backstage passes, jobs, festivals, exclusive merchandise, media, and hospitality benefits. Partnership With Crypto Company For the launch of this token, Davido — who previously expressed a desire to star...
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Finance Redefined: 1M ETH burned since EIP-1559, and Dorsey drops tbDEX white paper, Nov. 19–26

1 million Ether has been burned since the London hard fork, Square released a beta white paper for a decentralized exchange, and Grayscale predicted a $1-trillion metaverse market — all coming to you in this week’s Finance Redefined. Welcome to the latest edition of Cointelegraph’s decentralized finance newsletter. ETH is burning at a rapid rate! Read on to discover the statistics behind Ethereum’s pursuit of deflationary mechanics. What you’re about to read is a shorter, more succinct version of the newsletter. For a comprehensive summary of DeFi’s developments over the last week, subscribe below. $4.24 billion in ETH burned since EIP-1559 event Blockchain analytics platform CryptoRank shared quantitative data this week that revealed an excess of 1 million Ether ( ETH ), worth approximately $4.24 billion, has been burned since August’s implementation of the Ethereum Improvement Proposal 1559. Also referred to as the London hard fork , the event marked a significant evolution ...
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Digital Land Plots Selling for Millions in Metaverse Projects

The concept of the metaverse is starting to blow up, and many of the early companies that are invested in it are already reaping some of the benefits from this new trend in the market. Digital land plots in virtual worlds are now selling for millions of dollars on different platforms, including Decentraland and Axie Infinity. Some prices are higher than many physical properties, even in expensive cities. Digital Land Picking Up Value in Metaverse Projects The rise of the metaverse concept and all the companies that are taking it seriously is starting to affect the sales and prices of metaverse-related key elements, like tokens and digital land. This week there have been sales of digital land plots for millions of dollars in key metaverse inspired projects. The first sale of this kind was reported in February by Axie Infinity, a virtual world game, where 8 plots of land were sold for 888 ETH , or $1.5 million dollars. At the time of the sale, Axie Infinity’s team reported this to ...
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Grayscale Report Sees Metaverse as Potential $1 Trillion Business Opportunity

Grayscale, a leading cryptocurrency asset manager, seems to have set its gaze on the metaverse as a business opportunity. Yesterday the company released a report where it examined the feasibility of this interconnected virtual world and how these economies can provide a profitable entry for investors, considering this area could grow to be a $1 trillion business in the near future. Grayscale Metaverse Report Paints a Bullish Picture Grayscale, one of the leading crypto asset managers, stated that the metaverse, a concept of an interconnected alternate virtual world, could be a $1 trillion business opportunity for the future. This conclusion is derived from a report titled “The Metaverse. Web 3.0 Virtual Cloud Economies,” issued by the company yesterday, where it analyzes the potential that this initiative could have for early investors. In this report, Grayscale profiles the metaverse as the start of a new paradigm, that will kickstart much innovation in Web 3.0. About the possibi...
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