Month: January 2023

California DMV to digitize car title management system via Tezos

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The California Department of Motor Vehicles (DMV) is testing out the digitization of car titles and title transfers via a private Tezos blockchain. The move is part of a collaboration between the California DMV, Tezos and blockchain software firm Oxhead Alpha, with the latter announcing t successful proof-of-concept on Jan. 25. The California DMV has tapped Oxhead Alpha to build on a private Tezos testnet that it has dubbed a “shadow ledger.” It is essentially designed to become a blockchain-based replication of the agency’s current database. The California DMV’s chief…

Does the Crypto Market Have The Strength To Break To The Upside? QCP Capital Weighs In

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The conditions of the cryptocurrency market have changed drastically; according to an analysis by QCP Capital, the options market in its current state makes the crypto industry look like a major crisis, such as the shutdown of crypto exchange FTX after filing for bankruptcy, never happened. Trading desk QCP Capital published observations on the crypto industry, revealing some key points to consider for the coming months. The Crypto Market Comes Back To Life QCP’s analysis points out that Bitcoin (BTC) risk reversals have been trading in positive territory over the…

Global Digital Cluster Coin (GDCC) Is Now Available on LBank Exchange – Press release Bitcoin News

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press release PRESS RELEASE. LBank Exchange, a global digital asset trading platform, has listed Global Digital Cluster Coin (GDCC) on January 27, 2023. For all users of LBank Exchange, the GDCC/USDT trading pair is now officially available for trading. With its new-age protocol and peer-to-peer network, Global Digital Cluster Coin (GDCC) restructures the concept of money and assets with cutting-edge technologies that have the potential to transform various industries and allow people to adapt crypto assets. Its native token GDCC will be listed on LBank Exchange at 8:00 UTC on…

California DMV Is Putting Its Titles on the Blockchain – Blockchain Bitcoin News

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The Department of Motor Vehicles (DMV) in California is running a project to digitize all of its titles and put them on a blockchain. The project, which will use the Tezos blockchain and has the assistance of Oxhead Alpha, a crypto dev company, aims to allow users to transfer titles as NFTs in the future. Innovation Comes to the DMV in California The Department of Motor Vehicles (DMV) in California is working to bring innovation to its tasks by decentralizing its functions. The institution is currently in the process of…

U.S. Institutions Are Driving Bitcoin Prices, Matrixport Research

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Bitcoin prices have been on the rise in the last couple of weeks and the digital asset has been able to return to its November 2022 levels. This has been a much-needed boost for the market during this time, but an unexpected investor group is reportedly driving the price of the cryptocurrency. Bitcoin Surges Are Happening During U.S. Hours In a new Matrixport report that was shared with NewsBTC via email, U.S. institutional investors are driving the recent price increase of bitcoin. The report notes that over the course of…

Argo Blockchain IPO: Lawsuit Claims Miner Made Untrue Statements

During the selling phase of the initial public offering (IPO), which took place in 2021, investors in the cryptocurrency mining firm Argo Blockchain have launched a class-action complaint against the miner. The investors accuse the miner of making deceptive promises and omitting essential facts in their complaint. The investors claim that the miner purposefully deceived them in their dealings with him. According to the allegations that have been levelled against the miner in this scenario, the miner is said to have acted in such a way on purpose with the…

Total crypto market cap rises above $1T, and data suggests more upside is in store

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Despite the recent negative crypto and macroeconomic newsflow, the total cryptocurrency market capitalization broke above $1 trillion on Jan. 21. An encouraging sign is that derivatives metrics are not showing increased demand from bearish traders at the moment.  Total crypto market cap in USD, 1-day. Source: TradingView Bitcoin (BTC) price gained 8% on the week, stabilizing near the $23,100 level at 18:00 UTC on Jan. 27 as the markets weighed the potential impact of Genesis Capital’s bankruptcy on Jan. 19. One area of concern is Genesis Capital’s largest debtor is Digital…

Bitcoin Holds Steady Above $23K, White House Urges Congress to ‘Step Up’ Crypto Regulation

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The SSR measures the ratio between the supplies of bitcoin and stablecoins. As stablecoins represent buying power, a reduction in the SSR implies that investors are sending stablecoins to exchanges, likely for the purpose of buying bitcoin. Since Jan. 11, the SSR has increased 32%. So while BTC’s price has risen, investors do not appear to be sending stablecoins to exchanges en masse to add to long positions. Original