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Showing posts from November 29, 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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Ethereum privacy protocol Tornado Cash to launch on L2 Arbitrum

Once fully deployed, users will be able to make private transactions through the popular Tornado Cash mixer on the Arbitrum layer two network. Tornado Cash is about to get a scaling boost as the privacy protocol prepares for deployment on the Ethereum layer two network Arbitrum.  Tornado Cash’s smart contracts are ready to roll on thArbitrum Layer 2 scaling network following contributions from the community to ensure the stability of the protocol. The Nov. 29 announcement explained that deploying on Arbitrum will “allow users to take advantage of all the benefits a Layer 2 can offer, with cheaper transactions being the biggest comparative advantage.” Tornado Cash is a fully decentralized Ethereum ( ETH ) mixer protocol. Tornado Cash masks the path that tokens such as ETH take from sender to receiver, providing completely private transactions without the need to use privacy-focused coins. Layer two networks on Ethereum boast faster transactions and cheaper fees while still b...
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Pocketcoin (PKOIN) Is Now Available for Purchase With Visa/Mastercard and 19 Different Cryptos

Pocketcoin (PKOIN) is a Proof-of-Stake token that is used decentralized advertising, boosting posts and featuring comments on the decentralized crypto social platform Bastyon ․ com. PKOIN also gives users specific privileges while using Bastyon ․ com social platform and is used for node staking. Authors also earn crypto for their content on Bastyon ․ com. And now Pocketcoin is available for purchase on https://buy.pkoin.indacoin.io/ for Visa/Mastercard through a newly announced Indacoin integration. PKOIN is also available on a number of exchanges including DigiFinex and Bitforex, and for purchase for 19 different cryptos at https://pkoin.net/ Recent Growth of Bastyon ․ com and PKOIN Userbase The crypto social network Bastyon has grown exponentially adding over one hundred thirty thousand users over the past three months. Bastyon’s block explorer routinely features hundreds of transactions showing the network is gaining majortraction. Bastyon recently added a video upload function...
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Budweiser Launches 1,936 NFT Cans, Bud-Themed Marketplace Gets Bogged Down With Traffic

The popular American-style pale lager produced by Anheuser-Busch, Budweiser announced on November 29, that the firm planned to issue a series of 1,936 non-fungible token (NFT) collectibles. Following the Bud-themed NFT market launch, the web portal experiences some hiccups. Budweiser Issues NFT Beer Can Collection — NFT Cans Give Access to the ‘Budverse’ At the end of August, the crypto community discussed the popular American beer brand Budweiser purchasing an NFT crafted by Tom Sachs called “ Life of the Party .” Moreover, Budweiser also acquired the Ethereum Name Service (ENS) domain called “beer.eth” on August 11, 2021. According to Opensea records , Budweiser spent $96,000 or 30 ether at the time of sale in order to acquire the ENS domain. There are 1,936 Budverse Cans because it’s a hat tip to our first Heritage Cans launched in 1936. And now you can own a piece of history and a collectible that gives you access to the future of Budverse. — beer.eth (@budweiserusa) Novemb...
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Snoop drops 'Decentralized Dogg' NFT like it’s hot

Snoop’s first NFT collaboration “Decentralized Dogg” with digital multimedia artist Coldie was minted today on SuperRare. Hip-hop legend Snoop Dogg has debuted his first nonfungible token ( NFT ) collaboration with artist Ryan Colditz (Coldie) in the final release of the Decentral Eyes Portrait Series. The “Decentralized Dogg” NFT was minted on SuperRare on Nov 29 at 7:15 PM UTC and will be on auction until Dec 3. SuperRare is a digital NFT marketplace that caters to buyers willing to pay up for more exclusive pieces . The NFT is a stereoscopic 3D collage of 10 different portraits of Snoop Dogg from various stages throughout his life, underscored by an original NFT-inspired soundtrack by Snoop. At the time of writing, the highest bid was 169 Ether or about $760,000 at current prices. NEW ARTWORK RELEASE Coldie x @SnoopDogg Decentral Eyes Dogg 1/1 on @SuperRare Auction ends Dec 3 5p PT/8p ET Art by Coldie Exclusive audio by @SnoopDogg Coming together to keep it fun &...
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Bancor introduces new staking pools and instant impermanent loss protection

Bancor 3 will feature instant impermanent loss (IL) protection, an unlimited deposit staking pool, and an Omnipool offering a share of fees generated from the entire platform. Decentralized automated market maker (AMM) Bancor is set to launch new staking pools and an upgrade to its impermanent loss protection mechanism as part of its long-awaited Bancor 3 update. Bancor was founded in 2017 and was the first DeFi protocol to introduce AMMs to the blockchain . The Ethereum-based exchange and lending platform also allows users to earn staking rewards via various liquidity pools. In a Nov. 30 blog post introducing the upcoming Bancor 3 update, the platform announced several new features and upgrades including the Omnipool, Infinity pools, and “Instant Impermanent Loss Protection.” Introducing Bancor 3 pic.twitter.com/TuIyUnN13U — Bancor (@Bancor) November 29, 2021 Impermanent loss (IL) occurs on AMMs like Bancor or Uniswap when the prices of two assets in a liquidity pool diverge...
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Bitcoin network settling an average of $95K for every $1 in fees

Bitcoin’s settlement efficiency has been improving which means more value can be sent for lower transaction fees. The Bitcoin network’s value settlement efficiency has been improving steadily recently, with more being settled for lower fees. Over the past week, the Bitcoin network has transferred or settled an average of $95,142 of value for every $1 worth of fees. The on-chain settlement efficiency has been gradually increasing since May as more has been moved around the network during the bull cycle. On-chain analyst Dylan LeClair made the observation using data from analytics provider Glassnode. The value is derived by dividing the mean transaction volume by the fees. Over the last seven days the #Bitcoin Network transferred an average $95,142 of value for every $1 worth of fees. The median transaction saw $751 of value transferred for every $1 worth of fees. #Bitcoin is the most efficient monetary settlement network the world has ever seen. pic.twitter.com/DzSwxCDKkd — ...
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Hedera and Korea's Shinhan Bank partner on KRW stablecoin pilot

A new proof-of-concept will be tested to send fiat-backed stablecoins between banks to reduce fees and transaction times on international payments. South Korea’s Shinhan Bank and Hedera Hashgraph (HBAR) have completed a proof of concept that is designed to conduct international remittances using stablecoins on the Hedera Network. The new proof of concept by South Korea's Shinhan Bank for remittances can send money internationally within seconds for a fraction of a cent on the Hedera Network. Hedera claims that the average fee per transaction on its network is $0.0001, and the average transaction time is 3-5 seconds, both vast improvements from what is currently available from traditional remittances. In a Nov. 29 announcement , Hedera stated that it aims to determine whether it is possible to issue and distribute stablecoins for financial use cases with lower fees and shorter completion times than existing systems, while also making transactions traceable. Hedera Hashgraph i...
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Fed Chair Jerome Powell Could ‘Slow Crypto Down’ in His Second Term, Warns Billionaire Mike Novogratz

Billionaire investor Mike Novogratz has cautioned that Federal Reserve Chairman Jerome Powell could slow down the crypto market in his second term in office. Commenting on his re nomination, Novogratz said Powell could “act more like a central banker than a guy that wants to be reappointed.” How Jerome Powell’s Second Term as Fed Chair Could Impact Crypto Billionaire investor Mike Novogratz, CEO of Galaxy Digital, talked about the impact the renomination of Jerome Powell as the Federal Reserve chairman for another term could have on the crypto market on CNBC last week. President Joe Biden nominated Powell to serve for a second term as Fed chair last week. Powell has overseen the biggest monetary stimulus in U.S. history to help the economy cope with the Covid-19 pandemic and subsequent crisis. The “macro story has changed a little bit,” Novogratz explained, adding that Powell getting reappointed could allow him “to act more like a central banker than a guy that wants to be reappoi...
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Kelly Strategic Management files for Ethereum futures ETF

Following Kelly Strategic Management’s filing for an Ether futures ETF, analysts questioned whether SEC chairman Gary Gensler is “mentally ready” to approve anything other than a BTC futures product. Denver-based investment firm Kelly Strategic Management has filed for an exchange-traded fund (ETF) offering exposure to Ethereum ( ETH ) futures contracts. The move comes just three months after VanEck and ProShares suddenly withdrew their ETH futures ETF applications on the same day in August. According to a Nov. 29 filing with the U.S. Securities and Exchange Commission (SEC), the Kelly Ethereum Ether Strategy ETF will invest in cash-settled Ether futures contracts traded on the Chicago Mercantile Exchange (CME). Bloomberg’s Senior ETF analyst Eric Balchunas noted on Twitter today that Kelly’s Ether ETF may have a slim 20% chance of getting approval, as he questioned whether the “SEC is ready for this new step.” In Balchunas’ view, he thinks that SEC chairman Gary Gensler is “n...
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South Korean lawmakers inch closer to deal to delay crypto tax by one year

The long debate in the country’s legislature could soon be over meaning cryptocurrency gains made in South Korea may not be considered taxable events until 2023 at the earliest. In what could be a big win for the local crypto industry, South Korean lawmakers are close to delaying taxation on digital assets for another year.   Representatives from the Tax Subcommittee in the National Assembly, South Korea’s legislative body, reached a bipartisan agreement on Nov. 29 by approving an amendment that could postpone the crypto tax by one year. If the amendment passes in a parliamentary session on Dec. 2, taxation will begin on January 1, 2023, not 2022 as previously planned. Democratic Party lawmakers who have been pushing for this delay decried flaws in the information gathering procedures that would be implemented by the National Tax Service (NTS). One such procedure would be to assume a 0 KRW ($0) cost basis for crypto assets that have been dormant on private wallets where ...
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Crypto Exchange Kraken Now Supports Shiba Inu — SHIB Trading to Begin Tomorrow

Cryptocurrency exchange Kraken has announced support for the meme cryptocurrency shiba inu (SHIB). Deposits are now live and SHIB trading is expected to commence on Tuesday. The price of SHIB surged following Kraken’s announcement. SHIB on Kraken: Deposits Now Live, Trading Set to Begin Tomorrow Crypto exchange Kraken announced Monday that shiba inu (SHIB) deposits are live and trading is expected to start Tuesday. The exchange wrote: We’re thrilled to announce that Kraken now supports shiba inu (SHIB). “Funding is live, and we anticipate trading will begin tomorrow, November 30 — at which point Kraken will enable order entry and execution,” the exchange clarified, noting that the futures and margin trading service will not be available at launch. The shiba inu token will be tradeable against USD and EUR on Kraken, the announcement details, adding that there is a trading minimum of 50K SHIB, a price precision of 8 decimal places and a quantity precision of 5 decimal places. Mo...
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Wen moon? Data shows pro traders becoming more bullish on Bitcoin price

MicroStrategy’s purchase of 7,002 BTC might have helped boost Bitcoin price today, but derivatives data also shows that pro traders are becoming more bullish. The $4,700 Bitcoin ( BTC ) price spike on Nov. 29 was likely a great relief for holders, but it seems premature to call the bottom according to derivative metrics.  This should not come as a surprise because Bitcoin price is still 15% below the $69,000 all-time high set on Nov. 10. Just 15 days later, the cryptocurrency was testing the $53,500 support after an abrupt 22% correction. Today’s trend reversal was possibly encouraged by MicroStrategy’s announcement that it had acquired 7,002 Bitcoin on Monday at an average price of $59,187 per coin. The listed company raised money by selling 571,001 shares between Oct. 1 and Nov. 29, raising a total of $414.4 million in cash. More bullish news came after German stock market operator Deutsche Boerse announced the listing of the Invesco Physical Bitcoin exchange-traded note o...
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Microstrategy Buys 7,002 More Bitcoins, Growing Crypto Stash to 121,044 BTC

Microstrategy has purchased 7,002 more bitcoins, growing its cryptocurrency stash to 121,044 coins. CEO Michael Saylor says, “Bitcoin is the only property you can truly own, as well as the first technology capable of granting property rights to everyone on earth.” Microstrategy Now Has 121,044 Bitcoins in Its Treasury The Nasdaq-listed company Microstrategy has purchased 7,002 more bitcoins. CEO Michael Saylor tweeted Monday: Microstrategy has purchased an additional 7,002 bitcoins for ~$414.4 million in cash at an average price of ~$59,187 per bitcoin. As of 11/29/21 we hodl ~121,044 bitcoins acquired for ~$3.57 billion at an average price of ~$29,534 per bitcoin. At the time of writing, the price of bitcoin is $57,095.58 based on data from Bitcoin.com Markets . This means Microstrategy’s bitcoins are now worth more than $6.9 billion. Recently, Saylor discussed bitcoin becoming a $100 trillion asset class . He noted that bitcoin is winning against gold, asserting that “digital...
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3 reasons why traders expect Bitcoin to retake $60K before November ends

Bitcoin price flashed a few bullish signals on Nov. 29, leading analysts to share their opinions on why BTC should close November above $60,000. The cryptocurrency market saw a boost in sentiment after the price of Bitcoin ( BTC ) surged above $58,000 in a long-awaited move that rejuvenated traders who have been anxiously waiting for a resumption of the uptrend. BTC/USDT 4-hour chart. Source: TradingView Here’s a look at what analysts and traders are saying about Nov. 29’s price action and whether or not Bitcoin is likely to reclaim the $60,000 level. A $60,000 retest is “on the horizon” Bitcoin’s sudden move to $58,000 may have had caught some traders off guard, but according to independent market analyst and Cointelegraph contributor Michaël van de Poppe, the current price action is going as expected. BTC/USD 4-hour chart. Source: Twitter According to van de Poppe, following Nov. 28’s spike above $57,000, “You’d preferably want to see a flip of the $56,000 area to be taki...
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Security Focused DeFi Project EverRise Upgrades Protocol and Launches on 3 Blockchains

PRESS RELEASE. EverRise , the DeFi project that introduced the concept of buybacks in cryptocurrency, is going live with an upgraded version 2 contract on Monday, November 29th at 11:00 pm UTC. The new RISE token will be available on the Binance Smart Chain, Ethereum, and Polygon networks through PancakeSwap, UniSwap, and QuickSwap, respectively, with one supply across the three blockchains and balanced initial liquidity pools. This is the first time a token has launched on three chains at the same time and marks the first time the RISE token will be available on Polygon. The token was previously available on both the Binance Smart Chain and Ethereum. The upgraded contract features several noteworthy innovations and changes. Larry from Certik.io noted in an update to the EverRise community, “The upgraded EverRise contract is a technological tour de force. The Certik team is impressed with the level of innovation and engineering.” The most significant new feature is the introductio...
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BIS Innovation Hub partners with Fed to support analysis of digital assets

Jerome Powell cited CBDCs and digital assets in his speech to open the New York Innovation Center at the Federal Reserve's local offices. The Federal Reserve Bank of New York has announced it will be partnering with the Bank for International Settlements Innovation Hub as part of the launch of its New York Innovation Center, an initiative aimed at exploring technology used to develop the global financial system.  In a Monday speech for the opening of the New York Innovation Center, Federal Reserve chair Jerome Powell said the partnership would support the agency’s analysis of digital currencies including the rollout of a central bank digital currency, or CBDC. The center plans to support analyses aimed at improving cross-border payment systems. “The pace of technological change and innovation over the last decade has led some to argue that we are on the brink of a fourth industrial revolution — a digital revolution,” said Powell. “Certainly, rapid innovation, including through...
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Google Alerts Users About Malicious Actors Using Cloud for Cryptocurrency Mining

Google has warned users about the use of its Google Cloud platform by malicious actors to mine cryptocurrencies. In its latest Cloud Threat Intelligence report titled “Threat Horizons,” which provides users with security insights, the company informed that 86% of the compromised instances on Google Cloud platforms were being used to mine cryptocurrencies. Most of the accounts compromised were secured with weak passwords or with no password at all. Google Cloud Used to Mine Cryptocurrencies Software giant Google is alerting users about malicious actors using compromised Google Cloud accounts for mining cryptocurrency. Google Cloud accounts have access to processing power that can be easily redirected to perform malicious tasks. According to the first “Threat Horizons” report , issued by Google to raise awareness about the security weaknesses in its platform, 86% of the compromised accounts are used for this purpose. The report states that cryptocurrency mining in the cloud causes hi...
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DeFi TVL hits new highs while Metaverse tokens show signs of exhaustion

Metaverse tokens are starting to cool off while DeFi platforms register steady inflows which pushed the sector’s TVL to a new all-time high. Sentiment in the cryptocurrency market is back on the rise on Nov. 29 as the recent dip down into the “extreme fear” zone on the Crypto Fear and Greed Index slightly improved after Bitcoin ( BTC ) recovered above the $57,000 support, lifting the index higher into the  “fear" zone. Fear & Greed Index. Source: Alternative.me Despite the overall “fear” and “extreme fear” sentiments that have been dominating the market since the index began to decrease on Nov. 16, several sub-sectors of the cryptocurrency market including Metaverse-related projects and gaming protocols have seen breakouts to new all-time highs. The rapid gains seen in these projects has led to some concern that the Metaverse and gaming sectors could see a significant pullback in the short term if traders take profits and await more sustainable price levels, leading man...
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Charity platform expects significantly larger crypto than fiat donations for Giving Tuesday

“Cryptocurrency may be tricky to understand, but the value of a major crypto donation converted into cash is not," said Engiven founder James Lawrence. Engiven, a crypto donation platform that has helped facilitate contributions to the Salvation Army and others, expects religious groups and non-profit organizations will see significant charitable payments in crypto tomorrow for Giving Tuesday. The Tuesday after Thanksgiving is celebrated in the United States marks a day when people and organizations come together to donate their time and money towards worthwhile causes — but not limited to any single country. Engiven founder James Lawrence said he expects to see more crypto-based donations as part of the global generosity movement, given the increase in prices of Bitcoin ( BTC ), Ether ( ETH ), and other tokens. According to Lawrence, the platform facilitating crypto donations for more than 400 faith-based organizations — including a single BTC donation for $10 million in Oct...
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Key data points suggest the crypto market’s short-term correction is over

Bitcoin price is still pinned below $60,000, but the recovery in ETH and altcoins suggests that the current correction could be coming to an end. The performance of cryptocurrencies in the past 7 days might have seemed slightly unexciting, especially since the total market capitalization increased by “only” 1.8% to reach $2.7 trillion. However, even with the muted price action, some altcoins managed a decent rally. Bitcoin ( BTC ), on the other hand, was down 6% until Nov. 28, but it still managed to close the week up 1.5% after a $3,200 rally on Sunday night.  Winners and losers from the top 80 coins. Source: Nomics Metaverse tokens are still pushing to new highs The metaverse sector continued to outperform with Gala (GALA), The Sandbox (SAND), and Decentraland (MANA) among the top 5 gainers. While few play-to-earn and Metaverse “environments” are available for true interaction, major news and partnerships are still boosting these metaverse-related token valuations. As rep...
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Galaxy Digital raises $500 million in convertible debt to fund business expansion

The move comes after the company increased its net profits by over ten-fold in the last quarter. Galaxy Digital, a cryptocurrency brokerage and merchant bank founded by billionaire investor Michael Novogratz, announced on Monday that it would be issuing $500 million in exchangeable senior notes to accelerate business initiatives. The debt is convertible into company equity and bears an interest rate of 3% per annum, with maturity in 2026. New expansion areas include nonfungible tokens, or NFTs, with the firm committing $62 million of its capital into 22 NFT-related companies since the start of the year. Over the years, Galaxy Digital founder and CEO Mike Novogratz has been a famed bullish investor of Bitcoin ( BTC ) and other cryptocurrencies. He has called on other investors to allocate anywhere between 1% to 5% of their portfolio to crypto. Under his guidance, the firm's assets under management surpassed $3 billion in an update provided in October, becoming one of the large...
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Plan B Says Bitcoin Price Still ‘on Track Towards $100K’ Despite Missing November’s Price Prediction

This month, the price of bitcoin sank below the $60K zone this month after reaching an all-time high (ATH) at $69K per unit. The pseudonymous bitcoin analyst and the creator of the bitcoin price model called stock-to-flow (S2F), Plan B, called the last three months of bitcoin prices correctly but the analyst’s “worst-case scenario” forecast missed the mark in November. Despite the recent bitcoin price drop, Plan B still seems confident bitcoin’s price is “on track towards $100K.” Plan B’s Bitcoin Price Prediction for November Misses the Analyst’s $ 98K Call The infamous pseudonymous bitcoin analyst Plan B is well respected among bitcoiners and has amassed 1.5 million Twitter followers since October 2017. Plan B is the creator of the popular bitcoin price model called stock-to-flow (S2F) , which quantifies the commodity’s (bitcoin) scarcity and then divides it by yearly issuance (the flow). The analyst has done well as far as bitcoin ( BTC ) price predictions are concerned, but thi...
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