Crypto
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Community anticipation builds for Otherside’s First Trip demo run
The Otherside, a gamified metaverse project associated with the Bored Ape Yacht Club, is scheduled to deploy a technical demonstration of the first stage of the Otherside roadmap on Sunday, July 17 at 4 pm UTC. The First Trip experience will be exclusively accessible to Otherdeed land owners, known as Voyagers, and has been described by the platform as a “celebration of what’s to come and an opportunity for Voyagers to gather, explore, and plan.” The company indicated that thousands of users could participate in the event, navigating through the curated arena of play that has been specifically designed for the test, as well as guinea-pigging the “3D, hi-res Voyager prototypes that can walk, run, jump and emote,” and a “private, tokengated live stream,” among other novel features...
Bitcoin is now in its longest-ever ‘extreme fear’ period
Bitcoin (BTC) may have avoided fresh losses since falling to $17,600 last month, but the sentiment is on the floor. Now, one classic crypto market mood gauge is showing just how long and hard the average investor has suffered. 70 days of “extreme fear” While crypto market sentiment was already “comparable to funeral” before the start of 2022, the subsequent price drawdown in Bitcoin and altcoins produced cold feet like never before. This has now been quantified by the Crypto Fear & Greed Index, a tool that takes multiple sources into account to create an overall score of how the markets are feeling. As of July 15, Fear & Greed has spent 70 days in its lowest bracket — “extreme fear” — marking of a new bearish record. The Index consists of f...
Bitwells Exchange Launches 777 BTC Giveaway for Derivatives Traders
Victoria, Seychelles, 15th July, 2022, Chainwire Bitwells, the leading crypto derivatives exchange, has launched a 100% deposit match for new signups. The programme will reward traders who deposit up to 10 BTC with a corresponding bonus amount. A total of 777 BTC has been set aside in a funding pool and allocated for the promotion. A user who deposits 1 BTC, for example, will receive a total of 2 BTC credited to their account, while a trader who deposits the maximum 10 BTC will receive 20 BTC. The offer by Bitwells exchange is the most generous promotion of its kind within the industry. Bitcoin’s high volatility has made it an attractive proposition for traders looking to profit from the intraday swings. Adroit traders who take advantage of these opportunities often report impressive ROI f...
Nifty News: Old Navy’s BAYC shirts, expensive whisky NFTs, Sandbox publishing
A bottle of 52-year-old whisky made at Japan’s famous defunct Karuizawa distillery is being auctioned off as a nonfungible token (NFT). The starting price for the NFT and bottle of whisky is a dizzying $75,000, or about 62 Ether (ETH). Direct-to-Customer NFT wine and spirits marketplace BlockBar is handling the auction. To whisky collectors, the ultra-rare bottle of whisky from “The Last Masterpiece” cask made in 1970 is attractive, as there are now only 211 bottles of it left, according to a Tuesday report by Finbold. Now, an NFT collector can bolster their collection with a token that verifies authentic ownership of a bottle. NFT authenticating a bottle of “The Last Masterpiece” from Kurizawa. The auction began on Tuesday and will continue until July 18. The artwork for the NFT and ...
DeFi market fell off cliff in Q2 but users haven’t given up hope: Report
Despite the decentralized finance (DeFi) market suffering a 74.6% market cap decline in Q2, user activity has remained relatively resilient, says CoinGecko. In a report published by the crypto data aggregator on Wednesday, CoinGecko reported that the overall DeFi market cap fell from $142 million to $36 million over the second quarter, due mainly to the collapse of Terra and its stablecoin TerraUSD Classic (USTC) in May. CoinGecko also noted a rise in DeFi exploits in the quarter contributed to the fall, including Inverse Finance and Rari, which suffered hacks of $1.2 million and $11 million, respectively: “These attacks have negatively impacted token prices as investors lose faith in these hacked protocols.” However, CoinGecko also noted that while on-chain activity slowed down, the...
Cred Protocol unveils its first decentralized credit scores
Cred Protocol, a decentralized credit scoring startup has unveiled the results of its first automated credit scoring system for users of decentralized finance (DeFi). Cred Protocol CEO Julian Gay outlined the results in a Twitter thread, which showed how Cred successfully utilized past transaction behavior on the Aave protocol to assess the creditworthiness of future borrowers based on on-chain behavior in the DeFi space. 1/ Over the last few months, we’ve been working to build one of the first credit scores for DeFi. Today, we’re excited to share the results of our first credit score with the world! Read more below — Julian Gay (@juliangay) July 14, 2022 By using machine learning to assess time-based account attributes and analyze the user’s past transaction behavior, Cred Pro...
Aussie FPA supports ‘crypto rule book’ and regulation of exchanges
The Financial Planning Association of Australia (FPA) has shown its support for the “crypto rule book” idea and called for regulating exchanges instead of crypto assets. In May, the Australian Law Reform Council (ALRC) proposed to tackle crypto regulation through a rule book-style framework which sets out a series of gradually updated compliance principles for local crypto firms to adhere to. The comments came via a submission to the Treasury by FPA’s head of policy, strategy and innovation, Ben Marshan, who also argued that the regulation of crypto exchanges should fall under the current financial services regime and not under a new separate legal framework. “Firstly, it would create an alternate, duplicate regulatory regime to regulate what at the core is the purchase and holding of a fi...
Ankr Unveils Its Biggest Upgrade, Ankr Network 2.0, to Truly Decentralize Web3’s Foundational Layer
San Francisco, United States, 15th July, 2022, Chainwire Ankr, one of the world’s leading Web3 infrastructure providers, is delighted to introduce Ankr Network 2.0, described in the new whitepaper as a “Decentralized marketplace for Web3 infrastructure.” The upgrade brings a full suite of decentralized products and services that serve as the critical infrastructure behind Web3 growth. There have long been concerns that Web3 is not as decentralized as its boosters claim as the majority of its server (node) infrastructure for underlying blockchains is hosted by centralized companies and data centers. Ankr 2.0 solves this crucial problem with new decentralized web services – a protocol that allows independent node operators to connect developers and dApps to blockchains and earn rewards while...
OpenSea lays off 20% of its staff, citing ‘crypto winter’
Nonfungible token (NFT) marketplace OpenSea announced mass layoffs on Thursday, joining other crypto companies in reducing headcount during one of the most volatile periods in the industry’s history. Co-founder and CEO Devin Finzer took to Twitter Thursday afternoon to disclose that his company was laying off up to 20% of its staff. In a long message conveyed to employees, Finzer blamed “an unprecedented combination of crypto winter and broad macroeconomic instability” for the layoffs. Today is a hard day for OpenSea, as we’re letting go of ~20% of our team. Here’s the note I shared with our team earlier this morning: pic.twitter.com/E5k6gIegH7 — Devin Finzer (dfinzer.eth) (@dfinzer) July 14, 2022 “[W]e need to prepare the company for the possibility of a prolonged downtu...
Crypto markets need to hit ‘total panic’ before revival: Kevin O’Leary
Millionaire investor from the Shark Tank TV show Kevin O’Leary says there’s going to be “total panic” and “massive volatility” in the crypto markets ahead before the industry swings back toward stronger firms and clearer regulations. Despite the recent fall of crypto finance firms including Voyager Digital and Celsius, O’Leary told Cointelegraph on July 13 that we’re still missing a “real big event” seen in previous market cycles before we go back to accelerated growth in the space, stating: “This passion play gets played out over and over again.” Some investors have pointed to the current market conditions as a result of over-leveraged centralized finance firms such as Voyager and Celsius. O’Leary said the problems with firms like those come from “idiot managers” who needed to be we...
Ankr Network’s 2.0 upgrade aims to improve Web3 decentralization
Decentralized Web3 infrastructure provider Ankr Network (ANKR) has introduced its Ankr Network 2.0 upgrade aimed at transitioning blockchains into more resilient node networks. The upgrade is detailed in the Ankr 2.0 Whitepaper which was obtained by Cointelegraph ahead of its release later today. The upgrade centers around making Web3 more decentralized through several new features, such as an option to run an independent node, the ability to stake ANKR tokens on a full node, and the Ankr DAO. A spokesperson explained to Cointelegraph: “The upgrade is aimed at transitioning more blockchains, and the DApps built on them, to more distributed and resilient node networks supported by independent node providers.” Ankr is one of the largest remote procedure call (RPC) endpoint providers in the c...
UNI, MATIC and AAVE surge after Bitcoin price bounces back above $20K
Crypto investors found cause for celebration on July 14 as the market experienced a positive trading session just one day after the Consumer Price Index (CPI) posted a June print of 9.1%, its highest level since 1981. Daily cryptocurrency market performance. Source: Coin360 The move higher in the market wasn’t entirely unexpected for seasoned traders who have become familiar with a one to two-day bounce in asset prices following the most recent CPI prints. These traders also know there’s nothing to get too excited about as the bounces have typically been followed by more downside once people realize that the high inflation print is a negative development. Nevertheless, the green in the market is a welcome sight after the rough start to 2022. Top 5 coins with the highest 24-hour price...
