Day: December 1, 2022

DEX token GMX rallies 35% after beating Uniswap on trading fees for the first time

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The price of GMX rallied to its second-highest level in history on Dec. 1 as traders assessed the decentralized exchange’s ability to evolve as a serious competitor to its top rival Uniswap (UNI). GMX established an intraday high of $54.50 in a recovery that started on Nov. 29 from $40.50. Its rally’s beginning coincided with crypto research firm Delphi Digital’s tweet on the GMX decentralized exchange, as shown below.   GMX/USD four-hour price chart. Source: TradingView GMX beats Uniswap in fees for the first time Notably, GMX had earned about $1.15…

What is tokenization and how are banks tapping into its design principles?

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Tokenization is the process of converting something with tangible or intangible value into digital tokens. Tangible assets like real estate, stocks or art can be tokenized. In a similar vein, intangible assets like voting rights and loyalty points can be tokenized, too. We see Avios as an example of tokenized loyalty points by the traditional credit card industry. However, when tokens are created on a blockchain, they add a level of transparency that previous iterations of tokens couldn’t achieve. There are several banks that are experimenting with tokenization. But, before…

Compass Mining Launches Bitcoin Miner Protection Plan

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Socios boss’ goal? To knock crypto out of the park – Cointelegraph Magazine

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What is a sports fan’s dream come true? To be the announcer at an AC Milan home game, in front of 75,000 roaring Rossoneri fans? To play a football match on the hallowed turf of your beloved FC Barcelona? To tour the garage of an F1 team pre-race, then watch the Monza Grand Prix from a VIP box? These are some of the biggest rewards handed out as incentives to join Chiliz, or CHZ-based, fan token schemes on Socios.com. There are also lesser, but still desirable prizes, like meeting your…

Blockchain breaking down the doors in electronic music community

Electronic music is big business. According to a report by the International Music Summit, in 2021, the electronic music sector was valued at $6 billion dollars and that sector is poised for significant further growth. That $6 billion dollar figure marks a 71% increase from the industry’s valuation in 2020, which was understandably much smaller due to the effects of the pandemic. While revenue is down from where it was in 2019, barring further massive disruptions, the industry is on pace in 2022 to surpass its pre-pandemic heights. This should…

Italy Wants to Tax Crypto Gains at 26% From 2023 – Taxes Bitcoin News

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The new government of Italy plans to impose a 26% tax on capital gains from crypto trading, according to the draft budget for next year. The center-right coalition in power is also preparing to oblige Italians to declare their digital assets and pay 14% on their holdings. Government in Italy Intends to Tap Into Cryptocurrency Profits The authorities in Rome look poised to expand and tighten the regulations for disclosure and taxation of digital assets. The change is likely to come with Italy’s 2023 budget which is expected to target…

Choose Crypto Sportsbook in 7 Easy Steps

Even if you limit your focus to the realm of crypto and sports betting, you will still have too many options to wrap your head around. The first notion of a cryptocurrency was born through the thoughts, musings, and inner machinations of one David Lee Chaum, whose work “On Blind Signatures And Untraceable Payments” was the pioneering work that first pushed forward the notion of cryptocurrency. By trade, Chaum was a cryptographer and computer scientist who has published many works, and today his teachings and works have essentially pioneered the…

Russia’s Sber bank integrates Metamask into its blockchain platform

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Russia’s largest bank Sber — formerly known as Sberbank — continues developing its blockchain platform by integrating it with the Ethereum blockchain. On Nov. 30, Sber officially announced new opportunities for its proprietary blockchain platform, including compatibility with smart contracts and applications on the Ethereum network. This would allow developers to move smart contracts and entire projects between Sber’s blockchain and public blockchain networks, the bank said. Sber’s latest additions also bring an integration with major software cryptocurrency wallet MetaMask, which is used to interact with the Ethereum blockchain. The integration allows…

Healthcare in Metaverse: What Is MedV Token?

The MDDAO metaverse can take the self-serving games out of the current healthcare industry and genuinely improve patient care. In a 2021 report, the World Economic Forum declared, “the introduction of digital services will be one of the most important factors in the transformation of healthcare over the next decade.” The MedV token represents a groundbreaking advance in this technological revolution of healthcare. Enabling a decentralized alternative to the current medical industry, the asset connects patients and providers, provides incentives, and builds a community to improve fitness, health, and well-being.…

CAKE Not Looking Tasty For Investors Despite Network Progress

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As of late, PancakeSwap has been working with Hashflow to offer HFT payouts on its staking platform. The Tweet implies that this will make it possible for someone to utilize PancakeSwap to “farm” HFT tokens for profit. For a decision to be voted on by PancakeSwap users, it must be supported by the votes of 60% of HFT token holders, as is customary in the DeFi community. Let’s take a quick glance of how CAKE has been performing of late: Overall, the DEX is making great strides When compared to…