Day: December 28, 2021

FTX exchange floats $1M prize for banks to accept stablecoins

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Cryptocurrency derivatives exchange FTX is calling on banks to reach out and discuss the possibility of accepting stablecoins in exchange for a $1 million reward. In a Tuesday Twitter post, FTX said it was exploring forming relationships with banks in different regions to allow users to have “near instant and near free deposits and withdrawals” through stablecoins. The exchange floated the idea of offering a $1 million prize for the first bank in each region to accept the tokens, but hinted it would be open to giving more. How much…

Analysts warn that possible downside wick could push BTC price as low as $44K

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It looks as though the year-end rally that many crypto traders had hoped for will have to wait until 2022, as Bitcoin (BTC) bears gained the upper hand on Dec. 28 and hammered the price of BTC below support at $48,000.  Data from Cointelegraph Markets Pro and TradingView shows that an early morning wave of selling broke through BTC support at $50,000 and was followed by a second wave in the early afternoon that dropped the top cryptocurrency to a daily low of $47,318 before bulls managed to stem the…

Creating the On-Ramp for Web 3

Arguably the biggest challenge for the ongoing development of crypto, blockchain technology and Web 3 is finding ways to widen their appeal and facilitate their applications. As the end of a tumultuous year for crypto markets comes to an end, there is now a unique, once-in-a-lifetime global opportunity to shape the future by democratizing access to the tools that people need to create decentralized services for everyday life. One ecosystem is dedicated to making this happen: the Near blockchain, a permissionless, proof-of-stake, carbon-neutral blockchain designed to be superfast, incredibly secure…

Covesting Highlights Increased Utility of COV token in 2022 Roadmap

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Covesting, a European licensed DLT services provider and B2B software developer, has further highlighted the functionality and of its COV token in a new 2022 roadmap that further spells out more utility for the token.  After successful launch of its peer-to-peer copy trading module on PrimeXBT earlier in the year Covesting went on to launch the full implementation of its COV token utility and functionality for users of the copy trading module to take advantage of. Now, as the company starts to look ahead to 2022, with a newly released…

‘The only thing holding us back is us,’ says Charles Hoskinson on DeFi’s future

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The total value locked, or TVL, in decentralized finance (DeFi) has soared to over $250 billion as 2021 closes out, according to DeFi Llama, with most activity on Ethereum. The budding DeFi industry only became mainstream during summer 2021. While TVL valuations underscore the rapid growth of the industry, Cardano (ADA) founder Charles Hoskinson has warned about the challenges facing DeFi. In a YouTube video entitled “DApps and Cardano DeFi Alliance,” Hoskinson talked about DeFi’s potential as well as Cardano’s small role within the industry.  According to Hoskinson, who has…

OpenDAO’s SOS Token Hits $250M Market Cap Despite Unclear Goals, Security Risks

Airdrops are a token distribution method that allows crypto users who have performed certain actions to claim tokens. In this case, the airdrop applied to any Ethereum address which purchased a non-fungible token (NFT) on the popular OpenSea marketplace – a potential pool of over 850,000 addresses. To be clear, OpenDAO has no relationship with OpenSea aside from targeting its userbase with an airdrop. Source

Growth of Dollar Digital Currency Creates New Investment Opportunities for Businesses

Circle is not a bank; your Circle Account is not a bank account, and any funds are not insured by the Federal Deposit Insurance Corporation, the Securities Investor Protection Corporation or by any U.S. or foreign government agency, insurance fund, person or entity. For investors in the United States, investments described in this communication are offered by Circle Bermuda to “accredited investors” only in accordance with Regulation D, Rule 506(c) of the Securities Action of 1933, as amended. While Circle Bermuda is regulated by the Bermuda Monetary Authority for digital…

DOGE Plunges 9% As Creator Reveals How Much He Holds In Dogecoin

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Billy Markus, creator of popular cryptocurrency Dogecoin (DOGE) has disclosed his holding in this cryptocurrency. Via his Twitter account under the user Shibetoshi Nakamoto, Markus addressed his role on the project and replied to questions made by other users. Related Reading | Tesla To Accept Dogecoin For Merchandise, Token Soars 30% Markus and Jackson Palmer co-created DOGE back in 2013 as a parody to Bitcoin. Since its inception the cryptocurrency has gained popularity and hence increased its value from well below the $0.010 to an all-time high north of $0.70…

Trend Is Again Shifting From Outflows To Inflows

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On-chain data shows Bitcoin netflow trend is once again shifting from outflows to inflows, a sign that could prove to be bearish for the crypto. Bitcoin Netflow Trend Is Changing To Inflows From Outflows As per the latest weekly report from Glassnode, BTC netflows have once again started to move from a trend of net outflows to more inflows. The “all exchanges netflow” is an indicator that measures the net amount of Bitcoin entering or exiting wallets of all exchanges. The metric’s value is calculated by simply taking the difference…

Ethereum Has Burned 1.2 Million ETH in 4 Months, Close to $5 Billion in Ether Destroyed – Technology Bitcoin News

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With three days left until the end of 2021, the Ethereum network and its native token ether have had a phenomenal year as ether has increased more than 450% in value in 12 months. 145 days ago, on August 5, the Ethereum network implemented the London hard fork and since that day, 1,283,226 ether worth close to $5 billion has been burned. Burning $5 Billion in Ether in 4 Months Around four months ago, Ethereum implemented the London upgrade which added a number of new rule-sets to the chain. The…