Day: January 4, 2022

Grayscale rebalances DeFi Fund dropping Balancer (BAL) and UMA

boss

Crypto asset manager Grayscale Investments has rebalanced its Grayscale DeFi Fund and adjusted weightings of its Digital Large Cap Fund. A Jan. 3 announcement detailed the changes Grayscale made to its two funds. The DeFi Fund’s weightings have been rebalanced with AMP, the native collateral token of the Flexa payment network being added, while Bancor’s (BNT) and Universal Market Access (UMA) have been removed. Flexa uses the AMP token to collateralize crypto payments and settles them in fiat to recipients enabling merchants to accept crypto easily. Grayscale reshuffled weightings but…

The Year Of Crypto, Why Many People Are Going Digital…

boss

2021 had many great things that helped pushed crypto into a new spotlight, but will 2022 be the year crypto finally makes it break through into many mainstream operations?         Related Reading | ADALend Listed On CardanoCube Why Crypto? Many people are starting to look into cryptocurrency as a way to make purchases, save money, make money, and invest in the long-term. Many things play into factor on why this is happening, but all the talk can’t disprove the numbers, and numbers don’t lie. With Bitcoin leading the…

Retail Giant H&M Debunks Rumor of Store Opening in Metaverse, Collaboration With Ceek – Bitcoin News

boss

Major fashion company H&M has denied the rumor that it is opening a store in the metaverse. According to false reports, customers could walk through the store and purchase products in the Ceek metaverse. H&M Denies Metaverse Rumor and Collaboration With Ceek Several major publications reported Monday that retail clothing giant H&M has opened a 3D store in the metaverse, including the Economic Times and Mashable India. H&M (Hennes & Mauritz) is a major fashion and design company with 53 online markets and stores in 75 markets worldwide. One of…

Samsung Electronics to Use Blockchain in Climate-Focused Reafforestation Program

Samsung Electronics America has committed to the planting of 2 million Mangrove trees in Madagascar in a bid to advance its quota on the fight against climate change. Per the tech giant’s announcement, the initiative will be handled by Veritree, a startup that specializes in using blockchain technology to track every stage involved in the tree planting process.  The Samsung tree planting initiative is billed to be completed in the first half of this year, with the tropical trees expected to restore roughly 200 hectares of land and sequester roughly…

Coinbase exec says major Ethereum scaling improvements coming soon

boss

Coinbase Chief Product Officer Surojit Chatterjee is the latest to publish his predictions for the crypto industry in 2022 and he foresees major advances in the scaling of Ethereum. Industry leaders, analysts, and investors are sharing their 2022 predictions for the crypto ecosystem, and Coinbase’s Surojit Chatterjee is confident that Ethereum will be at the forefront of Web3 and the crypto-economy as it scales. The CPO shared his predictions in a company blog post on Jan. 4 in which he stated that Ethereum scalability will improve but alternative layer 1…

Bitcoin Turns Lower, Why Bulls Could Struggle In Near Term

Bitcoin started a fresh decline from the $48,000 resistance against the US Dollar. BTC remains at a risk of a sharp decline below the $46,000 support zone. Bitcoin started a fresh decline after it failed to clear the $48,000 resistance level. The price is trading below $47,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $47,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair remains at a risk of a major decline if there…

Crypto predictions platform Polymarket fined $1.4M by CTFC

boss

New York-based crypto predictions platform Polymarket has reached a settlement with the Commodity Futures Trading Commission (CFTC) to pay a fine of $1.4 million. Polymarket is a decentralized platform that enables users to bet on the outcomes of event markets such as pro-sports games and political elections via binary options contracts. On Jan. 3, the CFTC announced that it had entered an order filing and simultaneously settling charges against Polymarket, with the platform found to have operated an “illegal unregistered or non-designated facility” since June 2020. Under the order, Polymarket…

The number of countries banning crypto has doubled in three years

boss

Although 2021 was a good year for the cryptocurrency industry in terms of market performance, the number of jurisdictions banning crypto has more than doubled since 2018. A report by the Library of Congress (LOC) details the nine jurisdictions that have now applied an absolute ban on crypto and the 42 with an implicit ban. This is up from eight and 15 respectively in 2018 when the report was first published. The LOC is the research library for the United States Senate, acting as the national library for the country.…

This key trading pattern hints at the continuation of Fantom’s (FTM) 125% rebound

boss

Fantom (FTM) looks poised to hit a new record high in the coming sessions after its 125% price rebound from $1.23 on Dec. 14, 2021, to $2.84 on Jan. 3, 2022 triggered a classic bullish reversal setup.  Dubbed inverse head and shoulders (IH&S), the setup appears when an asset forms three troughs below a so-called neckline resistance, with the middle trough (the head) deeper than the left and right shoulder.  The price of FTM has recently undergone a similar price trajectory, as shown in the chart below. As a result,…