Crypto
Wazupnaija – Naija Entertainment blogs & Forums – Business – Crypto
John Cena calls his own NFT sales a ‘catastrophic failure’
Professional wrestler and actor John Cena said fans only purchased 7.4% of his World Wrestling Entertainment, or WWE, non-fungible tokens he made available last month. Speaking at Florida Supercon 2021 on Sept. 12, Cena said it was a mistake to market his WWE NFTs as part of a package with physical collectibles — a hat, shirt, wristbands, belt, towel, autographed picture, and the digital collectible. The organization offered 500 gold tier packages with the NFT for $1,000, but only a fraction of them sold. “I talk a lot about failure — this idea failed,” said Cena. “Myself and the folks in the WWE thought $1,000 was a fair price point. We were wrong. We were absolutely wrong.” He added: “We sold 37 of them. It was a catastrophic failure.” Cena and WWE released two tiers of NFTs for the wres...
Cardano was constructed for the 2nd wave of DeFi, says Founder
Liquidity and interoperability will dominate the future of DeFi, says Hoskinson The world’s third-largest blockchain by market cap, Cardano, launched the Alonzo hard fork earlier this week which finally enabled the platform to support smart contacts and non-fungible tokens (NFTs). In an interview with Forkast, Charles Hoskinson, the founder of Cardano and IOHK, spoke about the regulatory maze in the West, the future of decentralised finance (DeFi) and what the Alonzo upgrade means for the DeFi world. Hoskinson contested that the Securities and Exchange Commission (SEC) suggesting DeFi projects were not exempt from regulations was similar to the initial coin offering (ICO) regulatory upheaval in 2017. He pointed out that such global regulatory crackdowns, while shutting down questionable cr...
MonoX raise $5M to launch single-token liquidity pools
Automated market maker MonoX has today announced a debut capital raise of $5 million from venture firms including the likes of Axia8 Ventures, Animoca Brands, Divergence Ventures, among others. MonoX will use the funds to support its ambitions in reducing the capital and liquidity prerequisites for decentralized finance (DeFi) projects offering swap, lending, borrowing and derivative capabilities on decentralized exchanges (DEXes). The protocol will achieve this through the introduction of a single-sided liquidity model. Though not a revolutionary concept for liquidity pools, it will aim to support the DeFi ecosystem’s growth. In traditional DEXes such as Uniswap, industry projects require two tokens to build a “liquidity pair,” increasing the capital barrier for entry. With the single-sid...
Shiba Inu (SHIB) jumps 40% on Elon Musk’s cryptic endorsement, Coinbase listing
Shiba Inu (SHIB) crept up Friday as traders assessed its addition on Coinbase, one of the world’s leading crypto exchanges. The SHIB/USDT exchange rate jumped up to 16.42% to $0.00000950 for the first time since June 29, 2021. The latest move uphill came as a part of an overall bullish trend that started Thursday, wherein SHIB rallied by more than 26%. As a result, the token ended up pushing its returns up by over 40% in just two days of trading. Gains for SHIB started emerging after Elon Musk, CEO of Tesla, tweeted about the arrival of a new Shiba Inu puppy called Floki. Floki has arrived pic.twitter.com/2MiUKb91FT — Elon Musk (@elonmusk) September 12, 2021 The announcement, which came Monday, followed up with a modest 2.62% spike in SHIB/USDT rates in the next session, iterating Musk’s c...
Next stop $85K for Bitcoin as analysts predict ‘explosive’ Q4 for BTC price action
Bitcoin (BTC) is heading for at least $85,000 in Q4 this year and could well surpass the $100,000 mark, new research says. In its latest market update on Friday, trading platform Decentrader revealed an unapologetically bullish mid-term BTC price forecast. Next stop $85,000 for BTC/USD Despite BTC/USD being kept below $50,000 this week, on-chain metrics have led analysts to stay firmly bullish on Bitcoin price action. Decentrader analyst Filbfilb is no exception, forecasting not only a rematch of all-time highs but a breach of $100,000 before the year is out. “So with bullish signals in the near term we could now be setting up for a major run that first takes $BTC up towards $85,000 before breaking through the psychological barrier of $100,000,” he concluded. “Making for an explosive Q4 20...
Sushi’s token launchpad Miso hacked for $3M
Joseph Delong, chief technology officer of decentralized finance (DeFi) platform SushiSwap, announced that a hacker compromised the supply chain of its token launchpad platform, MISO. According to Delong, the “anonymous contractor with the GH handle AristoK3 injected malicious code into the Miso front end,” replacing the auction wallet address with their own and subsequently acquiring 865 Ether (ETH), valued at $3 million. This data can be verified via EtherScan. The hacker exploited the single target of the Jay Pegs Auto Mart token auction, a parody NFT project imitating the value of a 2007 Kia Sedona. On what he called the “hardest day of my life so far,” the former senior software engineer at ConsenSys claimed to have gained little support from leading crypto exchanges FTX and...
Solana, Litecoin and Ethereum Classic price analysis: Bears retake control
After recovering from an earlier slump, the cryptocurrency market is heading into the red territory again as bears start to regain control The cryptocurrency market is trading in the red zone again after bouncing back from the early slump this week. Solana, Litecoin and Ethereum Classic are looking bearish at the moment. The three cryptocurrencies could suffer further losses over the coming days if the sentiment continues. Solana price outlook The SOL/USD 4-hour chart is currently bearish, with the coin down by 12% in the past 24 hours. The Solana network experiencing a blackout for nearly 24 hours contributed to the coin’s underperformance, and it has now lost the sixth position in the market cap rankings to XRP. SOL/USD 4-hour chart. Source: TradingView SOL is trading at $140 per coin an...
Weekly report: Crypto exchange Coinbase is in the spotlight
Regulators are turning their attention to Coinbase despite the company making giant strides in the cryptocurrency space Coinbase to raise $1.5 billion, regulators ask the exchange to register Coinbase, one of the leading crypto exchanges in the United States, revealed earlier this week that it wants to raise $1.5 billion through a debt offering. The exchange said the proposal was to sell Senior Notes due 2028 and 2031 to private investors, but it was subject to market conditions and other factors. Coinbase will use the funds to invest in product development, future investments and acquisitions in products and technologies from other parts of the world and other general corporate expenditures. The US Securities and Exchange Commission (SEC) chair Gary Gensler told the Senate banking committ...
Guarda Wallet Introduces New Referral Program
Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. We may receive financial compensation from these third parties. Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications. A hyperlink to or positive reference to or review of a broker or exchange should not be understood to be an endorsement of that broker or exchange’s products or services. Risk Warning: Investing in digital currencies, stocks, shares and other securities, commodities, currencies and other derivative investment products (e.g. contracts for d...
The Chainsmokers, Disclosure, More Back Audius In $5 Million Funding Round
Blockchain-based streaming service Audius has announced it recently closed a $5 million funding round in partnership with some of the contemporary music scene’s most popular creators. Artists such as The Chainsmokers, Disclosure, Steve Aoki, Katy Perry, Jason Derulo, Pusha T, Mike Shinoda, and many others are throwing their weight—and their cash—behind Audius, helping to grow the crypto-powered platform’s footprint in the streaming economy. The high-profile capital infusion represents a powerful endorsement from the creator economy for the decentralized future of music. From a creator standpoint, Audius’ unique decentralized infrastructure offers creators a censorship-proof, direct-to-consumer experience. These characteristics have led artists to treat Audius as a t...
El Salvador’s credit rating could take hit amid Bitcoin adoption warns S&P Global
Credit rating agency Standard and Poor (S&P) Global believes the country of El Salvador has severely harmed its credit rating after enacting its Bitcoin Law recognizing BTC as legal tender nationwide on Sept. 7. According to a Sept. 16 report from Reuters, El Salvador’s Bitcoin embrace exposes its economy to significant financial risks and could pose challenges for the country’s lending industry. The credit agency also believes the move could also dampen El Salvador’s chances of securing a $1 billion loan agreement it is seeking from the International Monetary Fund (IMF). “The risks associated with the adoption of bitcoin as legal tender in El Salvador seem to outweigh its potential benefits,” S&P said, emphasizing the “immediate negative implications” of the Bitcoin La...
El Salvador’s credit rating could take hit amid Bitcoin adoption warns S&P Global
Credit rating agency Standard and Poor (S&P) Global believes the country of El Salvador has severely harmed its credit rating after enacting its Bitcoin Law recognizing BTC as legal tender nationwide on Sept. 7. According to a Sept. 16 report from Reuters, El Salvador’s Bitcoin embrace exposes its economy to significant financial risks and could pose challenges for the country’s lending industry. The credit agency also believes the move could also dampen El Salvador’s chances of securing a $1 billion loan agreement it is seeking from the International Monetary Fund (IMF). “The risks associated with the adoption of bitcoin as legal tender in El Salvador seem to outweigh its potential benefits,” S&P said, emphasizing the “immediate negative implications” of the Bitcoin La...
