Crypto proponents would be wise to keep their eyes on nonfungible token (NFT) and metaverse trademark applications this year, which are “reliable signals” of future-use plans. Speaking to Cointelegraph, intellectual property lawyer Michael Kondoudis said while many people may think big corporations are just jumping onto the NFT trend as a novelty, “it is not possible” to register a trademark in the United States with no intention to use it. Despite a relatively low cost for filing an application — ranging from $250 to $350 per class of goods/services —…
Day: January 26, 2023
Ethereum Scaling Tool Polygon's MATIC Token Surges Amid Spike in Transactions
The token has risen 13% this week and is up 34% for the year. The blockchain has the second most users, according to one research group. Source
Crypto Custodian Aegis to Add Coverage of Lido’s Staked Token Derivatives
Aegis, which says it holds trust license in Hong Kong and and the U.S., offers custodial services for on-chain transactions, while Lido, the largest decentralized finance (DeFi) app by total value locked, provides staking services to users that want to access liquidity to their staked assets. Source
Russia Mulls Gold-backed Stablecoin, Lawmaker Confirms After Iran Visit – Finance Bitcoin News
Russia may issue a stablecoin backed by gold to use in international settlements, a high-ranking member of the Russian parliament has admitted. The matter has been discussed during a recent visit to Iran where officials have also signaled interest in such an initiative. Iran and Russia Talk Stablecoin Payments for Bilateral Trade Settlements The Russian Federation is considering the creation of a stablecoin backed by gold that can be employed for cross-border settlements, including with Iran, the chairman of the Financial Market Committee at the lower house of Russian parliament,…
Crypto Markets Today: Bitcoin Clings to $23K, FTX’s Creditor List Revealed
Also: Ether traded flat above $1,600. Equities closed up after solid GDP data. Source
Data shows pro Bitcoin traders want to feel bullish, but the rally to $23K wasn’t enough
Bitcoin (BTC) price had a mixed reaction on Jan. 25 after the United States reported a 2.9% gross domestic product growth in the fourth quarter, slightly better than expected. Still, the sum of all goods and services commercialized between October and December grew less than 3.2% from the previous quarter. Albeit somewhat optimistic, another data set limiting investors’ confidence was news that the U.S. Federal Reserve (FED) would revert its contractive measures anytime soon as U.S. durable goods orders jumped 5.6% in December. The indicator came in much higher than…
Optimism’s OP Token Hits All-Time High as Layer 2 Adoption Interests Grow
Optimism and other layer 2 scaling systems such as Arbitrum are supposed to make transactions on the Ethereum blockchain cheaper and faster. After Ethereum completes its EIP-4844 upgrade, also called proto-danksharding, later this year, it will make transaction fees on layer 2s even “an order of magnitude cheaper,” Marc Arjoon, Ethereum research associate at CoinShares, wrote in a note. Source adoptionAllTimeGrowHighHitsInterestsLayerOptimismsToken CryptoX Portal
Sen. Ted Cruz Wants to Force Capitol Hill Vending Machines to Accept Crypto
But when it comes to actually introducing legislation that would move the needle on crypto regulation, Cruz is lagging behind other senators including Debbie Stabenow (D-Mich.), John Boozman (R-Ark.), Kirsten Gillibrand (D-New York) and Cynthia Lummis (R-Wyo.) – all of whom have worked on major crypto-related bills. Source
Web3 Loyalty Programs Are Catalyst for Good Crypto Policy and Adoption
Web3 loyalty programs have numerous advantages over traditional loyalty programs, but three will resonate the most with policymakers: ownership, control and interoperability. With a Web3-based loyalty program, users have true ownership of their points, tier status and brand-related collectables – all of which come in various forms of “loyalty tokens.” Users also have the ability to transfer, trade or sell their property – as the brands see fit. Source
Dogecoin (DOGE) Soars 8%, But This Metric Suggests Pullback
Dogecoin (DOGE) and other altcoins are stealing some of Bitcoin’s shine as the benchmark crypto stalls at its current levels. However, the recent rally could spell trouble for optimistic traders and investors waiting for a continuation of the trend. As of this writing, Dogecoin (DOGE) trades at $0.08 with sideways movement in the last 24 hours. Over the previous seven days, the meme coin still records an 8% profit. In the crypto top 10, DOGE stands amongst the best performers, surpassed only by Cardano (ADA) and Polygon (MATIC). DOGE’s price…