Effectively implemented relative value strategies call for both asset breadth and sufficient differentiation among those assets. Figure 2 takes returns for the top 25 crypto assets except BTC, controls for exposure to systematic risk (roughly approximated by bitcoin), and shows the correlations between each token pair’s residual returns (i.e., ETH vs. DOT, SOL vs. LTC, etc.): Original
To answer whether or not bitcoin has been impacting by the recent moves higher in interest rates, I ran a quick rolling regression analysis on the recent bitcoin price history against interest rates (both the 2-year US Treasury yield and the 10-year inflation adjusted real interest rate) and the EUR/USD spot exchange rate to correct for moves in the U.S. dollar. From the results (see figure above), it appears that current bitcoin prices reflect the move up in nominal and real interest rates. Source
According to the SEC, Stoner Cats NFT holders were incentivized to trade the NFTs, receiving a 2.5% royalty for each secondary-market transaction involving the collectibles. That encouraged individuals to buy and sell the NFTs in at least 10,000 secondary transactions worth more than $20 million, according to regulators. In addition, at least 20% were resold before the first episode of the Stoner Cats web series had even aired, the order shows. Source
“Bitcoin is the world’s digital monetary system, and Lightning is Bitcoin’s payments layer,” Cathie Wood, the head of Coinbase’s second-biggest shareholder, ARK Invest, wrote on X in response to Armstrong’s post Wednesday. “Coinbase’s integration with Lightning will give its 100 million users an on-ramp to faster and cheaper bitcoin transactions. Hats off to Coinbase!” Source
Goerli and Sepolia are operated by a smaller subset of “validators” than the main Ethereum chain, and some developers think these smaller validator sets pose a problem: “We don’t want to hit a scaling issue that could happen first on mainnet,” Parithosh Jayanthi, a devops engineer at the Ethereum Foundation, a non-profit focused on Ethereum research and development, told CoinDesk. “We want to catch [scaling issues] on testnet, which means we have to have a testnet that’s bigger” than the main Ethereum chain. Source
Telegram Messenger has unveiled a self-custodial crypto wallet for its more than 800 million active users worldwide. This move comes almost three years after the popular messaging platform initially revealed its plans to delve into the Web3 space. The crypto wallet is built on The Open Network (TON) and will be accessible via settings on Telegram’s messaging app. On the back of this announcement, the price of Toncoin (TON’s native token) surged by almost 8%. Telegram Finally Integrates Crypto Wallet On Messaging Platform On Wednesday, September 13, The Open Network…
Currently, Inditex has outlets in about 213 countries globally and only a low market share in many of them. Consequently, the company notes it has strong growth potential in many countries where it has an office. Fast fashion company Inditex has posted a net profit of $2.7 billion for the six months to July 31. The Zara owner posted its records on Wednesday, exceeding expectations with its 40% profit jump. Inditex sales rose 13.5% to 16.9 billion euros and a gross margin of 58.2%. Consequently, the company profit exceeded forecasts…
Celo’s inclusion with Opera’s MiniPay wallet augurs well for Africa’s expanding digital finance sector. Opera, the well-known web services provider, has announced intentions to integrate a non-custodial stablecoin wallet built on the Celo blockchain into its mobile web browser. This product, dubbed “MiniPay”, is intended to empower Opera’s enormous user base across the African continent by giving an easy and safe means of accessing and dealing with stablecoins. MiniPay seeks to make digital finance more accessible by allowing people to transfer and receive stablecoins using their existing mobile phone numbers. Exciting…
EY says that its new AI tool will help client and client users with the responsible adoption of AI, for strategy, tax, and other purposes. British multinational professional services giant EY has announced a new artificial intelligence (AI) tool to offer AI-powered services to its clients. The new tool, EY.ai, will help clients with responsible adoption of AI for various functions, including transactions, strategy, assurance, risk, and transformation. In a Wednesday press release, EY noted that it spent $1.4 billion on the AI platform. The publication also noted that EY has…
“The three licenses together provide us the ability to provide the service, and as far as we know, we are the first to do so in Singapore,” Bai said. “As a licensed platform with securities, custodial services and digital payment token licenses, MetaComp and its parent company are dedicated to establish such a platform, which we call Client Asset Management Platform, to enable such a smooth asset allocation denominated in both fiat and stablecoins.” Source