Day: March 17, 2022

Avalanche price can double by summer as AVAX’s 20% weekly rally rekindles ‘bull flag’

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A sharp upside retracement in the Avalanche (AVAX) market this week has raised its possibilities to rise by another 100% in Q2. Avalanche chart painting a ‘bull flag’ The bullish outlook primarily appears in the wake of AVAX’s multi-month bull flag setup, which formed after a strong price move higher to over $150, an all-time high in the Avalanche market. In detail, the setup is a downward sloping channel, denoted by two parallel trendlines against the previous trend, with volumes declining to underscore a weakening downtrend. AVAX/USD weekly price chart featuring ‘bull…

Ripple to give out 1 billion XRP in developer grants

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Ripple (XRP), the enterprise payment technology company, plans to give out one billion XRP in grants for developers. The newly announced grant is an extension of the company’s XRPL Grants program, which was launched in 2021. The developer grant would be focused on encouraging open-source projects on the XRP ledger built for enterprise remittance assistance. Ripple has built a strong foothold in the Asia Pacific region through its XRPL based remittance technology called RippleNet Ripplenet offers a real-time gross settlement system, currency exchange and remittance network with the help of…

Russia’s Central Bank Goes to War. Is Cryptocurrency a Friend or Foe?

In January 2022, the Central Bank of Russia (CBR) proposed a number of measures aimed at curtailing the country’s cryptocurrency market, which included a blanket ban on the use and mining of all cryptocurrencies. It pointed out risks posed by the volatile nature of cryptocurrencies to the financial stability of the country, the extensive use of crypto in illegal activity and the energy costs involved in crypto mining. However, the utility of blockchain technology didn’t escape the CBR. The following month, it announced that it had started the pilot stage…

Is cryptocurrency a friend or foe?

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In January 2022, the Central Bank of Russia (CBR) proposed a number of measures aimed at curtailing the country’s cryptocurrency market, which included a blanket ban on the use and mining of all cryptocurrencies. It pointed out risks posed by the volatile nature of cryptocurrencies to the financial stability of the country, the extensive use of crypto in illegal activity and the energy costs involved in crypto mining. However, the utility of blockchain technology didn’t escape the CBR. The following month, it announced that it had started the pilot stage…

First of Its Kind Targeted Advertising in the Metaverse – Press release Bitcoin News

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press release PRESS RELEASE. Adshares protocol and blockchain analytic platform cookie3 has announced the Strategic Partnership aiming to create convenient marketing tools with accurate targeting and audience segmentation across the metaverse. The integration of cookie3’s analytics platform solutions with the Adshares protocol focuses on providing accurate tools for the marketing purposes of companies that want to reach their potential customers in the metaverse. The first joint implementation will enable ad targeting in Decentraland, allowing advertisers to target their campaigns even more precisely. Soon, a configuration panel will be introduced that…

Rarible Bests OpenSea on Multi-Chain Support With Addition of Polygon NFTs

“[Rarible] understands the responsibility to democratize all aspects of NFTs for both creators and consumers,” Alexei Falin, CEO of Rarible, said in a press release. “A collaboration with Polygon is another achievement for Rarible Protocol that enables blossoming marketplaces and projects built within its ecosystem to access new communities and increase back-end capabilities.” Source

Polygon onboards Simba Chain for Ethereum scaling and infrastructure development

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Ethereum (ETH) layer-2 solution Polygon (MATIC) is integrating the Simba Chain to scale and build new infrastructure for Web3, according to a new announcement. While Polygon is known to be a scaling solution provider, the new integration aims to build the next chapter for Web3 and expand the scope of services offered by the Polygon network. SIMBA Chain will utilize the full-stack scaling solution as the go-to infrastructure to build and run custom, white-label nonfungible token (NFT) Marketplaces for their customers. With the growing influence and popularity of Web3, major Web2 firms…

Bank of England Raises Interest Rates Back to Pre-Pandemic Level of 0.75%

The policy statement, however, leaned dovish, suggesting consensus expectations for the central bank to bring its bank rate to 2% by year end might have gotten ahead themselves. “Some further modest tightening might be appropriate in the coming months, but there were risks on both sides of that judgment depending on how medium-term prospects evolved,” the MPC said. That quickly sent the British pound lower by about 1% versus the U.S. dollar and the euro. Source

Hive Blockchain Increases Mining Activities Using Intel ASIC Chips

Notwithstanding the issues and turbulence in the crypto sector, operators are still enthusiastic and forward-thinking about it. Even though it seemed that mining activities would see a decline given the China crackdown last year, recent developments tell a different story. One of the reasons for frowning at mining activities was too much power consumption. So now, operators are looking for ways to carry out greener mining that will be environmentally friendly and profitable. One of such moves to promote greener mining is in the form of a new intel “ASIC”…