Crypto
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NFT studio Mojito completes $20M seed round with help from Sotheby’s
NFT development studio Mojito announced Friday that they have raised $20M in seed funding from a number of investors, including internationally known auction house Sotheby’s. According to an announcement published in Forbes, Sotheby’s auction house in partnership with Future Perfect Ventures, Creative Artists Agency and NEA’s Connect Ventures, contributed to the round at Mojito’s estimated value of $100 Million. The Delaware-based start-up indicated that it will use this new injection of capital to grow and develop its engineering teams, make a better version of its current NFT platform, and further develop its NFT trading and investment platforms. The NFT market has seen its total monthly sales drop from early September, though numbers have held at between $1.8 and $2.1 Billion for ...
Bitcoin price consolidation leans toward ‘another leg higher’
On Oct. 22 Bitcoin (BTC) price entered what some traders predict to be a “consolidation phase” as investors lock in profits following a non-stop run-up in price that began on Oct. 1 and saw BTC increase 55% in just three weeks. Data from Cointelegraph Markets Pro and TradingView shows that a wave of midday selling on Friday dropped the price of Bitcoin from support at $63,300 down to the $60,000 level. BTC/USDT 1-day chart. Source: TradingView Here’s what market analysts are saying about Bitcoin’s current price action for the short-term. “Bitcoin could be ready for another leg higher” The current price action is seen as a welcome development for crypto market intelligence firm Decentrader, which suggested that “Bitcoin is likely to progress higher through Q4 of 2021...
Crypto platform Rally commits $12M to third-party developers
Crypto-social platform Rally has earmarked $12 million for external developers to improve the functionality of the ecosystem, potentially setting the stage for new innovations that would benefit creators. The grants program will be distributed through RLY tokens, the native cryptocurrency of the Rally ecosystem, the company announced Friday. A community-elected developer council controls $5 million worth of RLY, giving it considerable sway over which types of bounties and rewards get distributed. Prior to establishing the new program, Rally awarded third-party developer grants to Bonfire, MintGate and David Young, the creator of the PLAY coin, which is built on Rally. Rally enables creators and artists to launch their own cryptocurrency and establish independent communities directly ...
Hilbert Group forms COIN360 JV with Cointelegraph and Chiron Partners
Sweden-based Hilbert Group AB, United States-based Cointelegraph and Asia-based investment group Chiron Partners will join forces to launch a new business of COIN360. Under this joint leadership, COIN360 will expand its product suite to become a full-service market data provider covering the full spectrum of digital assets — including decentralized finance (DeFi), nonfungible tokens (NFTs) and security token offerings — for both institutional and retail traders. Under the new arrangement, COIN360, the crypto market data provider with 4 million monthly visits known for its iconic heatmap, will become a joint venture of the three parties. Hilbert Group AB, which will list on Nasdaq First North on Oct. 27, is now the majority owner of COIN360, with 60% of the shares. “Given the large volume o...
Polygon pays $2M bounty on bug which could have compromised $850M in user funds
White hat hacker Gerhard Wagner has earned $2 million after reporting a solution to a potentially costly “double-spend” bug on the Polygon network. In an Oct. 21 blog post from Immunefi, a security service that helps facilitate bug reports in decentralized finance projects, Polygon network’s Plasma Bridge was at risk of having $850 million removed by a knowledgeable hacker. According to the project, the vulnerability would have allowed attackers to exit their burn transaction from the bridge up to 223 times, quickly turning an amount like $4,500 into $1 million profi. Immunefi reported the double-spend exploit worked by first depositing Ether (ETH) through the Plasma Bridge and starting the withdrawal process after the transaction was confirmed. A hacker could then wait a week and resubmit...
Analysts hold their $250K Bitcoin price target even as BTC falls below $60K
Bitcoin (BTC) briefly fell below $60,000 on Oct. 22 as a correction after all-time highs deepened concerns about the market’s strength. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader eyes $56,000 minimum BTC buy-in Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting lows of $59,930 on Bitstamp, down another 6% on the day. A rebound took the pair back above the $60,000 mark, but caution remained the name of the game as the week saw the price slide below $61,000. “Was watching that $64K zone as a crucial level to break and the market has failed, so a corrective move is taking place,” Cointelegraph contributor Michaël van de Poppe summarized about the situation. “Overall; looking at $56-59K as a good spot to buy Bitcoin.&...
Weekly report: Bitcoin’s price reaches a new all-time high
The cryptocurrency market cap touched the $2.7 trillion mark for the first time as Bitcoin and others rallied. Bitcoin touches a new all-time high The past few weeks have seen the leading cryptocurrency rally against the US Dollar. It was in a bearish trend in the second and third quarters of the year. However, BTC has turned things around since the start of the fourth quarter. Earlier this week, BTC reached a new all-time high above $67,200. This is the first time Bitcoin is setting a new all-time high since April 2021. The price dropped by nearly 50% at some points earlier this year. However, with the latest rally, many expect Bitcoin to attempt to reach the $100k level before the end of the year. The week of the Bitcoin futures ETFs Bitcoin reached a new all-time high this week, and som...
17% of addresses snapped up 80% of all Ethereum NFTs since April
Open source blockchain analytics firm Moonstream published a report which found that around 17% of addresses control more than 80% of all NFTs on Ethereum. The report was published on Oct. 21 and the analysis was conducted on more than 7 million NFT transactions on the Ethereum blockchain between April 1 and Sept. 25, 2021. The report found that whales, NFT platforms and exchanges which comprise the top 16.71% of all addresses, own 80.98% of NFTs on Ethereum. The remaining 83.29% of NFT owners were only able to snap up “a handful of tokens” during that time frame. “This latter statistic does require a little more nuance in its interpretation, however, as many of those owners are marketplaces and clearinghouses like OpenSea, Nifty Gateway, and other platforms of the same ilk,” Moonstr...
Every spectactor in a section of FTX Arena handed $500 in crypto at season opener
Major cryptocurrency exchange FTX has given $500 in crypto to every spectator sitting in one section of the FTX Arena at Thursday’s Miami Heat season opener game against the Milwaukee Bucks. As well as the crypto giveaway, every fan in the stadium received a T-shirt with a QR code giving access to an exclusive ‘Opening Night FTX Arena NFT’. Free NFT-shirt? Say no more! All @MiamiHEAT fans in attendance at tonight’s game will receive a free “You In, Miami?” t-shirt! By scanning the QR code on the back, they’ll unlock this free, limited edition FTX Arena NFT. The future is here. You in, Miami? #FTXMIA pic.twitter.com/0t3ruJbWN7 — FTX – Built By Traders, For Traders (@FTX_Official) October 21, 2021 Fans will no doubt be wondering if the free crypto giveaway will become a regular o...
Bitcoin extends correction as Ethereum sees ‘picture perfect’ rejection at all-time highs
Bitcoin (BTC) stayed closer to $60,000 on Oct. 22 after the largest altcoin Ether (ETH) failed to cement new all-time highs. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView ETH all-time high? Blink and you’ll miss it Data from Cointelegraph Markets Pro and TradingView ETH/USD just match its record $4,380 on Bitstamp before seeing a harsh rejection. Traders watched in anticipation as Ethereum appeared to follow Bitcoin to historic new levels, only to face immediate resistance and fall sharply back into a lower range. We couldn’t even celebrate $ETH ATH for longer than 30 seconds Lmfao ruthless market makers — Johnny (@CryptoGodJohn) October 21, 2021 Trader and analyst Rekt Capital called the event a “picture perfect rejection.” At the time of writing, ETH/...
Crypto-to-fiat liquidity startup Xanpool raises $27M
Cryptocurrency-to-fiat infrastructure provider Xanpool continues expanding operations in the Asia Pacific (APAC) by securing fresh funding. The Hong Kong-based startup raised $27 million in a Series A funding round led by Valar Ventures, the venture capital firm co-founded by PayPal co-creator Peter Thiel. Other participating investors included crypto-focused venture capital firm CMT Digital as well as angel investors like TransferWise co-founder Taavet Hinrikus, Xanpool announced Friday. Running operations in 13 countries across APAC, Xanpool is looking to further consolidate its presence in the region with new funding. Xanpool CEO Jeffery Liu told Cointelegraph that the startup operates in countries like India, Hong Kong, Philippines, Singapore, Thailand, Indonesia, Australia, New Zealan...
FTX raises $420 million to reach a $25 billion valuation
FTX has become one of the fastest-growing cryptocurrency exchanges in the world and continues to expand its features and services FTX, one of the leading cryptocurrency exchanges in the world, has raised $420 million from investors in a latest funding round. This latest funding pushed the exchange’s total valuation to $25 billion as it continues to experience massive growth. Led by the 29-year old Sam Bankman-Fried, FTX has become one of the top exchanges in the world. According to the Wall Street Journal, the $420 million was raised from some traditional financial institutions, including the Ontario Teachers’ Pension Plan and funds managed by BlackRock Inc. The announcement came just three months after FTX raised $900 million and saw its valuation grow to $18 billion. The crypto exchange ...
