Day: October 21, 2021

As the Crypto Economy Nears $3 Trillion, Top 10 Crypto Exchanges Hold Over $206B, More Than 7% – Economics Bitcoin News

The crypto economy has come awfully close to nearing the $3 trillion handle as far as the value of all 10,000+ crypto assets is concerned. Today, crypto market aggregation sites show the entire crypto-economy at $2.756 trillion is worth more than the value of Apple’s market cap at $2.467. Furthermore, the top ten crypto-asset exchanges, in terms of cryptocurrencies held in reserves, hold more than $200 billion or 7.47% of the entire crypto economy. 10 Centralized Crypto Exchanges Hold 7.47% of Crypto Economy’s Value in Custody Digital currencies are far…

Solana gains over 26% in two days — $250 SOL price target next?

Solana (SOL) rallied higher on Oct. 21 as traders shifted focus from Bitcoin (BTC) to the most promising altcoins. Notably, the price of SOL increased by more than 11% to over $196 a token, the highest level since Sept.11. Combined with the gains recorded in the previous 36 hours, SOL was up by as much as 26%.  SOL/USD daily price chart. Source: TradingView Capital rotation in play? A new Bitcoin all-time high price on Wednesday triggered price rallies across the altcoin market as well. For instance, Ethereum’s native token Ether (ETH) posted…

GameFi Opens New Paths for Financial Inclusion

Widespread blockchain technology and cryptocurrency adoption are rapidly advancing blockchain-based gaming. GameFi is the term for the combination of DeFi and gaming, where gamers can earn financial incentives through playing games. By improving their characters and moving up levels, gamers can create value, which, because it’s stored on a  blockchain, is owned by them and not by the game developer. Bitcoin introduced the world to blockchain technology and the concept that people can exchange value from peer to peer without the involvement of any government or bank. The Ethereum blockchain…

NFT company Candy Digital valued at $1.5B following $100M Series A

Nonfungible token company Candy Digital has secured $100 million in funding to expand its product footprint and creative capabilities, marking another major milestone for the rapidly growing NFT market.  The funding will be used to expand Candy Digital’s NFT product offerings across the global sports marketplace, including creating new fan experiences, the company announced Thursday. Candy’s existing partnerships include Major League Baseball, Major League Baseball Players Association, Race Team Alliance and several college athletes. The Series A round was co-led by private equity firms Insight Partners and Softbank Vision Fund…

Bitcoin sheds 6% in battle for all-time high support amid falling funding rates

Bitcoin (BTC) briefly dipped below $63,000 on Oct. 21 as a standard correction cooled the market. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin battles for new support at old peak Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it came off all-time highs above $67,000 to hit lows of $62,860 on Bitstamp. The roughly 6% drop from its peak came as little surprise to seasoned traders, despite Bitcoin so far failing to create solid support at the site of its previous all-time high of $64,900. “Bitcoin is still…

Worldcoin, Now Valued at $1B, Has Grand Plans to Get You to Gaze Into the Orb

Would you let a chrome, volleyball-sized sphere scan your retinas in exchange for crypto? That’s the interesting – and controversial – premise behind Worldcoin, a new project co-founded by former Y Combinator president Sam Altman. Depending on who you ask, Worldcoin’s plan might sound futuristic and cool, a little silly, or like a dystopian nightmare ripped from science fiction. When news of the project leaked to Bloomberg in June, the media response was critical. Silicon Valley, however, is excited about the project. Worldcoin announced Thursday that it raised $25 million from…

‘Free coin to everyone’ project aims to make 1B crypto owners in 2 years

Funded by crypto heavyweights, new crypto unicorn Worldcoin revealed its plan to let everyone claim free coins to accelerate global crypto adoption. Providing the global population with free cryptocurrency sounds like a moonshot project, but $25 million in backing from Andreessen Horowitz, Coinbase Ventures, 1confirmation, Blockchange and Day One Ventures, and a valuation of $1 billion adds some weight to the Worldcoin project. Co-founded by Alex Blania, Sam Altman and Max Novendstern, Worldcoin saw the participation of more than 100,000 people from around the world during its test period and…

Fanatics-Owned Candy Digital Raises $100M From Insight Partners, SoftBank

CryptoX – Cryptocurrency Analysis and News Portal Candy Digital, a non-fungible token (NFT) startup majority-owned by Fanatics, has completed a $100 million Series A financing round co-led by Insight Partners and SoftBank Vision Fund 2 at a $1.5 billion valuation. The startup plans to use the funds to expand its NFT offerings across the global sports landscape and accelerate the growth of its workforce. Original Source The post Fanatics-Owned Candy Digital Raises $100M From Insight Partners, SoftBank appeared first on CryptoX. CryptoX Portal

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