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Showing posts from January 10, 2022

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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Estonia Offers to Share Crypto Experience With US to Identify Best Practices for Digital Assets

Estonian Finance Minister Keit Pentus-Rosimannus has offered to share her country’s experience in regulating cryptocurrencies with the U.S. in a discussion with Treasury Secretary Janet Yellen. Estonia Offers to Share Crypto Experience With the US U.S. Treasury Secretary Janet Yellen and Estonian Finance Minister Keit Pentus-Rosimannus reportedly discussed cryptocurrency regulation during a video call Friday. Among the topics discussed by the two was Estonia’s proposed new cryptocurrency regulation, ERR News reported. “The U.S. is one of Estonia’s most important partners in the field of security, and also in financial matters. We highly value cooperation with the U.S. in the prevention of money laundering, including their advice on risk analysis systems,” the Estonian finance minister commented after the call with Yellen. She detailed: I suggested to the U.S. Treasury Secretary that Estonia can share its experience to identify best practices. We also discussed opportunities for c...
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Bitfarms Buys the Dip: 1,000 Bitcoin Added to Treasury as BTC Falls While Mining Hardware Prices Remain High

Global bitcoin mining company Bitfarms has bought the dip and added 1,000 bitcoins to its balance sheet while the prices of mining hardware remain high. The company’s corporate treasury now holds more than 4,300 bitcoins. Mining Company Buys the Dip Bitfarms Ltd. has taken advantage of the falling price of bitcoin. The publicly traded bitcoin mining company announced Monday that it has purchased 1,000 BTC for its treasury. The announcement details: During the first week of January 2022, Bitfarms purchased 1,000 BTC for US$43.2 million. This increased the BTC holdings 30% to over 4,300 as of January 10, 2022. Founded in 2017, Bitfarms is a publicly traded company in the U.S. and Canada. Its shares started trading on the TSX Venture Exchange (TSX-V) in July 2019 and on the Nasdaq Stock Market in June 2021. The company has five industrial-scale bitcoin mining facilities located in Québec and one in Washington state. “Our guiding company strategy at Bitfarms is to accumulate th...
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Binance sponsors AFCON to further develop crypto adoption in Africa

Binance partners with the Confederation of African Football to sponsor the TotalEnergies African Cup of Nations tournaments. Monday marked the start of the TotalEnergies Africa Cup of Nations tournament — the largest men’s football championship series in Africa. At the same time, Binance announced its official partnership with the Confederation of African Football as well as its official sponsorship for the AFCON 2021 tournament, becoming the first crypto and blockchain sponsor for the event. Through this sponsorship, Binance will also be promoting CAF’s social media content which will include the Assist of the Day, Assist of the Week and Assist of the Tournament. This content will cover games from five cities in Cameroon across all six venues. Veron Mosengo-Omba, the General Secretary for the CAF, was “delighted to welcome Binance as an official sponsor of the AFCON tournament this year.” Mosengo-Omba said that he is optimistic that this partnership will “push African football to ...
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Bitcoin price bounces to $41.5K, but derivatives data shows traders lack confidence

Key BTC trading metrics are sitting on the edge of the “worst outcome” scenario, suggesting that the current sell-off is far from over. Bitcoin ( BTC ) briefly reached its lowest level in five months this Monday at $39,650, marking a 42.6% drawdown from the all-time high present on Nov 22, 2022. Some argue that a “crypto winter” has already begun citing the $2.1 billion leverage-long aggregate crypto futures contracts that were liquidated over the past seven days. Bitcoin/USD price at FTX. Source: TradingView The descending channel guiding Bitcoin’s negative performance for the past 63 days indicates that traders should expect sub-$40,000 prices by February. Confidence from investors continued to decline after the United States Federal Reserve’s December FOMC session on Jan. 5 . The monetary policy authority showed commitment to decrease its balance sheet and increase interest rates in 2022. On Jan. 5, Kazakhstan’s political turmoil added further pressure to the markets. The c...
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3x NBA champion Andre Iguodala becomes the latest athlete to receive salary in crypto

Iguodala said he will also be giving out $1 million worth of BTC to fans to increase the cryptocurrency's adoption. On Monday afternoon, Andre Iguodala, three-time NBA champion and the professional basketball player for the Golden State Warriors, announced via Twitter that he would be taking a portion of his estimated $2.647 million annual salary in Bitcoin ( BTC ). In addition, Iguodala added that he will give out $1 million worth in BTC to fans to increase the digital currency's adoption. Payments were said to be facilitated by Block's (formerly Square) Cash App. I’m excited to announce I’m taking part of my salary in BITCOIN w. Cash App! Bitcoin is the future, @klaythompson and I are both believers. To make bitcoin more accessible, we're giving out $1M in bitcoin back to fans today. Drop your $cashtag w. #PaidInBitcoin & follow @CashApp — andre (@andre) January 10, 2022 Iguodala joins the growing list of celebrities, athletes, influencers, and governmen...
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Australia's largest crypto exchange will sponsor tennis star Ajla Tomljanovic

Users from the crypto exchange will have the chance to win tickets to two tournaments and a meeting with Ajla Tomljanovic using a nonfungible token showing proof of attendance. BTC Markets, the largest digital assets exchange in Australia, has announced it will be sponsoring professional tennis player Ajla Tomljanovic for the Australian Open and Sydney Tennis Classic tournaments taking place this month. In a Tuesday announcement, BTC Markets said it would be backing Tomljanovic as part of a partnership inspired in part by “increased investor activity from female investors in the last financial year.” Users from the crypto exchange will have the chance to win tickets to the tournaments and a meeting with the tennis star with a nonfungible token showing proof of attendance. Flash Competition to win 2 tix to see @Ajlatom play tomorrow at the Sydney Classic! Yup, you read that right, tennis & crypto united at last Gotta love how Aussies support their own - thanks Ajla for the goo...
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New NFT marketplace LooksRare allows traders to earn rewards

As NFT trading activity remains high in volume, a new wave of NFT trading platforms have begun to crop up in 2022. LooksRare, a recently launched nonfungible token, or NFT, marketplace, says it wants to index all NFT collections on the Ethereum blockchain. The site went live on Monday with a token airdrop. #LooksRare NFT Marketplace Now Live! $LOOKS airdrop claim open ⏰ Staking starts at block 13977012 Trading reward calculations start tomorrow LFG! https://t.co/Y1jt9Kmqt6 — LooksRare - NFT Marketplace (@LooksRareNFT) January 10, 2022 Created by two anonymous co-founders, known as Zodd and Guts, LooksRare claimed to be made “By NFT People, for NFT People.” According to its blog announcement, the LooksRare team is “tired of the deplatforming of creators, and the decision-makers who value business over community, seeking IPO instead of benefiting the communities that got them there.” Their alleged solution is to offer a marketplace that rewards the platform's partici...
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Direct Fiat On-Ramps Come to Algorand (ALGO) via Alchemy Pay (ACH)

PRESS RELEASE. Singapore , 10 January, 2022: Algorand (ALGO), the layer-1 blockchain for decentralized and traditional finance, has added direct fiat payment channels into their network, thanks to a new integration with Alchemy Pay (ACH). Alchemy Pay, is a payment solutions provider that connects fiat and crypto economies, and its global merchant network now supports Algorand’s $ALGO token for payments in 65 countries. Algorand also announced it has joined the Blockchain Infrastructure Alliance which was inaugurated in October by Alchemy Pay, NEO , NEAR, and Polygon. The integration with Alchemy Pay will enable Algorand to onboard users via fiat payment standards like Visa, Mastercard, PayPal, and countless other local payment channels around the world. The ability to bring new users to the Algorand ecosystem via these mainstream payment methods will increase adoption by making access direct and bypassing the complications of crypto exchanges that can be a barrier to entry for man...
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Bitcoin dip below $40K follows Fed signal of a possible fourth rate hike in 2022

BTC’s abrupt drop to $39,650 came after the Federal Reserve floated the prospect of a fourth rate hike in 2022. Global financial markets, stocks and cryptocurrencies took a knock on Jan. 10 after rumors that the Federal Reserve may hike interest rates four times in 2022 circulated and sparked a sell-off and sent the benchmark 10-year Treasury yield briefly above 1.8% . Data from Cointelegraph Markets Pro and TradingView shows that a massive wave of selling broke Bitcoin's ( BTC ) support near $42,000, resulting in a plunge to $39,660 before buyers stepped in to buy the perceived dip. BTC/USDT 1-day chart. Source: TradingView Here’s what analysts are saying about this latest drawdown in BTC and what could possibly come next as analysts watch to see what the impact of the Fed's easy money policies ending means for risk-on assets. A shrinking money supply is bad for Bitcoin The Fed's shifting monetary policy is generating significant challenges for risk-on assets b...
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Arbitrum Network Stalled Due to Sequencer Downtime

The Arbitrum network, an Ethereum L2 (Layer 2) rollup, experienced some difficulties that caused a complete stop in the production of blocks and the confirmation of transactions. According to reports from the Arbitrum team, this incident had to do with downtime regarding its sequencer, a special node that manages the order of transactions, leaving the network unusable for approximately seven hours. Arbitrum Stalls for 7 Hours The network of Arbitrum, an optimistic scaling rollup for the Ethereum network, stopped completely on January 9, leaving users unable to make transactions for approximately seven hours. The Arbitrum team informed users that the difficulties were caused by issues with their main sequencer node, which experienced a hardware failure that led to the network stall. According to Arbitrum docs , the sequencer is a “specially designated full node, which is given limited power to control the ordering of transactions.” The Twitter account of the rollup reported the iss...
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Single inactive volcano has 90% chance of powering El Salvador's Bitcoin City, according to president

According to Nayib Bukele, should the power consumption of the country’s planned Bitcoin City exceed the volcano’s capacity, geothermal energy can be sourced from other sites. El Salvador's President Nayib Bukele has claimed officials will be able to use geothermal energy from one of the country’s inactive volcanoes to power its Bitcoin City project. In a Sunday notice, Bukele said there was a 90% probability of using the Conchagua volcano to supply 42 megawatts — “enough to provide energy to the entire Bitcoin City,” according to the president. The Salvadoran leader said the state-owned electrical company LaGeo was continuing to increase its production of geothermal power from different volcanoes in the country, with one of the sites believed capable of producing 95 MW. Source: Twitter Conchagua, located near El Salvador’s eastern border and overlooking the Gulf of Fonseca, has had no confirmed historical eruptions. According to Bukele, should the power consumption of the ...
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Price analysis 1/10: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, DOT, AVAX, DOGE

Buyers stepped in to buy BTC’s dip to $39,650, but there are signs that the market-wide correction might not be over. Bitcoin ( BTC ) dipped below the $40,000 level on Jan. 10 for the first time since September 2021. The crypto markets were not alone as the U.S. equity markets also witnessed strong selling when traders chose to reduce risk and piled into the 10-year Treasury yield which surged to 1.8% from 1.51% at the end of 2021. On Jan. 9, Goldman Sachs chief economist, Jan Hatzius, said  that the U.S. Federal Reserve may increase rates by four quarter-percentage points in 2022. Analyst Alex Krüeger also warned that crypto markets may not be able to ignore the Fed if it “decides to go all out wielding a deflationary machete.” He was not alone as ex-BitMEX CEO Arthur Hayes and Pentoshi also projected a bearish picture. Daily cryptocurrency market performance. Source: Coin360 Quant analyst Benjamin Cowen gave some hopes to the bulls when he said that levels of “extreme...
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Bitcoin’s Hashrate Slides 15% in 10 Days, Price and Difficulty Puts Pressure on BTC Miners

The price of bitcoin has been on a long losing streak since November 10, 2021, when the leading crypto asset tapped an all-time high at $69K per unit. During the last two weeks, bitcoin has shed more than 19% in value, and the network’s hashrate has dropped from over 200 exahash per second (EH/s) to 174 EH/s losing roughly 15% in ten days. Civil Unrest in Kazakhstan Leads to Hashrate Loss Speculation, Kazakhstan’s Bitcoin Miners Say Issues Did Not Affect Them This week the civil unrest in Kazakhstan caused a lot of people to speculate on whether or not it would affect Bitcoin’s global hashrate. The reason for this assumption is because it is estimated that Kazakhstan accounts for at least 18% of the global hashrate, according to the most recent estimates from the Cambridge Centre for Alternative Finance (CCAF). Looking at the 30-day chart for Bitcoin’s (BTC) hashrate indicates that the protocol’s hashpower lost roughly 15% in ten days. Reports stemming from Kazakhstan indicate ...
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Spanish Deputy Suggests Spain Might Attract Kazakhstan Miners

Maria Muñoz, a Spanish deputy from the country’s Congress, wants to position its country as a reliable alternative to miners that are facing a dire situation in Kazakhstan, after their internet service was suspended, affecting their operative capacity. Muñoz sent a letter to the congress, inquiring about the possible actions that Spain might take to attract fleeing miners, and about the impact this event has had on the Spanish mining sector. Spanish Deputy Maria Muñoz Inquires About the Consequences of the Kazakhstan Situation Maria Muñoz, a deputy of the Spanish Congress, has directed a letter to the institution inquiring about the possible actions that the government could take to take advantage of the situation and absorb the business of bitcoin miners fleeing from Kazakhstan . The country, that is facing civil unrest and protests after a fuel price hike, also suspended internet access, affecting bitcoin miners settled in the country. This caused a drop in the bitcoin hashrate, ...
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