Month: April 2022

NFT traders STEPN to a new groove — Is move-to-earn the future of fitness or another fad?

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Axie Infinity was a pioneer of the play-to-earn movement and the project inspired new Web3 applications that aspire to apply the earning model to their respective ecosystems.  The latest project to join the move-to-earn movement is STEPN, a Solana-based Web3 application where owners of the NFT sneakers earn as they walk. STEPN has programmed a few factors that determine just how much a person can make with its sneakers and the Green Satoshi Token (GST) is STEPN’s in-game token that currently trades for $7.30. Over the last 30-days the token…

The NFT sector is projected to move around $800 billion over next 2 years: Report

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Although NFTs have been a part of the cryptocurrency market since 2014, interest and adoption ha risen rapidly over the last two years. At their height in August 2021, the total trading volume of NFTs rose to over $5 billion, kickstarting what briefly came be to known as “NFT Summer”. According to a report by Coingecko, the NFT market is now expected to move more than $800 billion in the coming two years. The report, which mostly utilized investors from Asia and the Pacific, highlighted that of 871 respondents, around 72%…

A Deep Dive Into the Portfolios of the World’s Largest Ethereum Whales – Bitcoin News

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While there’s a number of bitcoin whales that often get caught by blockchain parsers and written about in media reports, ethereum whales get a lot less attention. According to statistics in 2022, there are a lot more ethereum whales than holders with large sums of bitcoin. In fact, while the top 100 richest bitcoin addresses control 14.08% of the circulating supply, the top 100 richest ethereum addresses hold 39.81% of all the ether today. Data Shows Ethereum Still Has a Large Concentration of Whales in 2022 Ethereum, the second-largest crypto…

NYDFS calls for crypto firms to use blockchain analytics

In a letter published on Thursday, the New York State Department of Financial Services, or NYDFS, recommended that all virtual currency companies operating under New York banking law adopt blockchain analytics to trace transactions. In supporting the decision, the regulatory agency wrote: “Wallet addresses are typically pseudonymous, with nothing on the face of the transfer tying back to the originator, beneficiary, or underlying beneficial owners.” Therefore, as told by NYDFS, it is vital that such class of firms use blockchain analytics to prevent illicit transactions, such as money laundering or…

‘Ready, steady, NFT:’ Ukrainian government accepts NFT donations

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Mykhailo Fedorov, Vice Prime Minister of Ukraine and Minister of Digital Transformation of Ukraine, tweeted that the Ukrainian government will accept war effort contributions in the form of nonfungible token (NFT) donations and purchases. Via the official “Aid for Ukraine” crypto fund, individuals can donate cryptocurrency, fiat and now NFTs. So far the initiative has raised over $60 million, according to the website.  All funds go toward supplying Ukrainians with weapons, medical gear, medical kits and other expenses outlined on the Aid for Ukraine website. Total expenses amounted to $45,103,538 by…

US needs ‘electronic tokens’ with functionality of cash — Software Freedom Law Center legal director

Mishi Choudhary, the legal director of the Software Freedom Law Center, supported the efforts of some United States lawmakers to develop an electronic version of the U.S. dollar. In written testimony for a Thursday hearing of the House Financial Services Committee on digital wallets, Choudhary said the United States needed “a currency or electronic token that is equivalent in functionality to cash, offers all of its benefits including anonymity, privacy, autonomy, no transaction fee and addresses all of its flaws.” Her description suggested a token with many of the benefits…

Litecoin Drops 87% Trading Volume In Q1 2022

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The interest in cryptocurrencies continues to wane in 2022, as does Litecoin’s popularity. The trading volume of Litecoin was eight times lower in the first quarter of 2022 than it was in the first quarter of 2021.  For example, the trading volume from January to March 2022 was around $82 billion, 87% less than in Q1 2021. In the first quarter of  2021, the trading volume was  $674.9 billion. Litecoin (LTC) trading volume crashed by more than $590 billion in quarterly comparison. Related Reading | ApeCoin (APE) Is Now The…

Telegram Wallet Bot enables users to send crypto in-app via revived blockchain project

As told via a Twitter post on Tuesday, instant messaging app Telegram has rolled out crypto payments via Ton Token. To access the feature, users first need to download and install Telegram’s official Wallet bot, which allows them to purchase cryptocurrency by bank card, exchange and transfer to other wallets. According to the company, they can then send Bitcoin (BTC) or Toncoin to other users by clicking on the “Wallet” icon in direct messages.  You can now send #Toncoin directly within Telegram chats! It’s a new way to send Toncoin…

FTX executive Wetjen calls CFTC application an opportunity for the agency to innovate

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Former Commodity Futures Trading Commission (CFTC) chairman Chris Giancarlo, known by some as Crypto Dad during his tenure from 2017 to 2019, spoke on the topic of U.S. crypto regulation at the Crypto Bahamas conference on Thursday. He called the current U.S. regulations, many of which were written in the 1930s, “nonapplicable” to the current financial reality of cryptocurrencies. Giancarlo expressed concern that central banks were usurping crypto. “If you read the utterances out of the European Central Bank, there is nothing but FUD toward non-sovereign crypto,” he said, noting…

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