Day: January 6, 2022

Start Of Bear Period? Current Bitcoin Trend Looks Similar To June

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Bitcoin on-chain data shows current trend with the short-term holder SOPR looks similar to that in June. This may mean that a bear period similar to then has started. Bitcoin Short-Term Holders Continue To Realize Losses As pointed out by an analyst in a CryptoQuant post, Bitcoin short-term holders have continued to realize profits recently, as suggested by the SOPR. This trend may be similar to the one seen in June. The “Spent Output Profit Ratio,” or SOPR in short, is an indicator that measures the profit ratio of the…

Comedian Stephen Colbert spoofs ‘Colbert Coin’ in response to rise in crypto scams

Stephen Colbert, the charismatic host of CBS’ The Late Show, is once again associating many cryptocurrencies with scams — but doing so by parodying the vernacular of a seasoned HODLer. In a Wednesday segment on members of Generation Z falling for scams inside and outside of the crypto space, Colbert referenced the rug pull behind a token inspired by Netflix’s show Squid Game, in which thousands of investors lost more than $3 million. Together with “certified young person” and staff writer Eliana Kwartler, Colbert debuted an “amazing investment opportunity” designed…

Oracle tokens turn bullish as blockchain projects focus on interoperability

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2022 looks to be a transformative year for the cryptocurrency ecosystem as the focus on interoperability between siloed blockchain networks comes to the forefront and a multitude of projects announce plans to interconnect their platforms with other protocols.  One sector of the crypto ecosystem that will play a vital role in ensuring smooth communication and interaction between networks are oracles projects like Chainlink (LINK) and Band Protocol (BAND). Top 8 oracle projects by market capitalization. Source: Messari Oracles relay data in a consistent, secure and decentralized manner and this is…

Bitcoin could outperform stocks in 2022 amid Fed tightening — Bloomberg analyst

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The Federal Reserve’s signaling for tighter monetary policy in 2022 could provide short-term headwinds for risk assets such as stocks and cryptocurrency, but there’s a good chance that Bitcoin (BTC) still comes out on top as investors recognize its value as a digital reserve asset, according to Bloomberg commodity strategist Mike McGlone.  The January edition of Bloomberg’s Crypto Outlook described the Federal Reserve’s plan to raise interest rates in 2022 as a possible “win-win scenario for Bitcoin [versus] the stock market.” The reasons stem from the fact that the S&P…

Kazakhstan Shuts Down Banks, Internet Amid Unrest That Threatens Bitcoin Mining, Hashrate – Mining Bitcoin News

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Measures imposed by authorities to quell mass protests in mining hotspot Kazakhstan are affecting cryptocurrency markets and the Bitcoin network hashrate. To deal with the civil unrest caused by rising fuel prices and a worsening economy, the government restricted access to the internet and closed down local banks. Fears are rising that the turmoil may spark another major migration of miners now that some are already leaving the country, which also faces power shortages. Government Takes Country Offline as Protests Rage in Major Cities, Russia Sends Troops Thousands of Kazakhstanis…

Dapper Labs becomes the first NFT company to register to lobby with the US government

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Based in Vancouver, Dapper Labs offers a variety of NFT based products and dapps. These include games like CryptoKitties, where players can breed and raise NFT kittens, and Cheeze Wizards, a tournament series where collectible characters can duel each other. Additionally, Dapper Labs is partnered with the NBA and is responsible for Top Shot, an NFT marketplace that sells highlights from basketball games. The UFC has also partnered with Dapper Labs to offer a similar service in the near future. According to the announcement, Dapper Labs has recruited Crossroads Strategies…

Ertha Partners with Cryowar

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Ertha, one of the most highly-anticipated metaverse projects, recently launched it’s native ERTHA token to much success on Huobi Primelist. The play-to-earn game made huge progress in 2021 and is now poised to deliver a one-of-a-kind experience to fans of NFT gaming later this year. Thanks to the project’s meteoric rise, Ertha has attracted the attention of some of the biggest names in DeFi, bringing about high-profile investments and now, a valuable partnership with a team well renowned for its glowing reputation within the game development community. Ertha is partnering…

Autonomy Network bringing the first-ever living, autonomous NFTs (aNFTs)

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Non-fungible tokens, or NFTs, have taken the cryptocurrency industry by storm. Although the concept has much more potential, it is an excellent tool to create and sell digital art or collectibles. Autonomy is bringing NFTs to life, the autonomous NFTs (aNFTs) that can do things on behalf of their holder through automation. Autonomous NFTs? Is That Even Possible? The current generation of non-fungible tokens is static and primarily a one-trick pony. Moreover, the industry suffers from tremendous speculation rather than utility. Although that situation slowly changes, there is still little…

NYC mayor getting paid in Bitcoin suggests buying the dip

Newly sworn-in New York City Mayor Eric Adams is already using his influence to publicly speak about buying the recent Bitcoin dip. In a Thursday interview with CNBC’s Squawk Box, Adams said he had not yet received his first paycheck as the mayor of New York City, but reiterated his aim to make the city a Bitcoin (BTC) and crypto hub. When co-anchor Andrew Ross Sorkin pointed out that the price of the crypto asset has “come down” — dipping as low as $43,000 earlier today — the NYC mayor…

BTCS stock jumps 44% after announcing first-ever dividend payable in Bitcoin

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On Wednesday, Nasdaq Composite logged its biggest daily loss since February last year. But for one of its listed companies, the day turned out to be extremely bullish. Blockchain stock soars The share value of BTCS Inc. (BTCS), a blockchain technology company, surged nearly 44% to $4.36 at the New York closing bell, thus becoming the third-best performer on Nasdaq after Lixte Biotechnology (LIXT) and Mainz Biomed BV (MYNZ). Top Nasdaq performers as of Jan. 5, 2022’s close. Source: TheStockMarketWatch.com   In contrast, Nasdaq plunged 3.3% Wednesday, its losses driven primarily by…