Crypto
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China’s new blockchain infrastructure to digitize securities and futures
Chinese regulators, including the Securities Association of China and the China Securities Regulatory Commission (CSRC), held a meeting in Beijing to promote blockchain technology in the securities industry and discuss regulations. In the symposium organized by China Securities Industry Alliance Chain and Off-Site Alliance Chain, the deputy director-general of the Science and Technology Regulatory Bureau of CSRC, Jiang Dongxing, spoke about the consensus of Chinese businesses to digitally transform the securities and futures industry. Citing the 14th Five-Year Plan, which details China’s intent to use blockchain technology, Dongxing mentioned that blockchain technology can build a trust mechanism in the network environment, which will be key to the digitization of the securities and future...
Ethereum price breaks $3,500 and hits 3-month highs against Bitcoin
Ethereum’s native asset Ether (ETH) has extended its rally on Sep. 1 to log multi-month highs against Bitcoin (BTC) and the United States dollar (USD). The ETH/BTC exchange rate rose 3.13% to hit 0.07475 for the first time since June 9. Meanwhile, bids for ETH/USD climbed 3.4% to $3,546, the highest since May 18, showcasing a renewed upside sentiment in the second-largest cryptocurrency market after it consolidated sideways for more than three weeks. ETH/USD and ETH/BTC daily price chart. Source: TradingView.com Ether’s price jump appeared despite a wobbling price behavior across the cryptocurrency market. For instance, Bitcoin prices remained stuck around $47,000 while eyeing a clear breakout move above their psychological resistance level of $50,000. Similarly, Ethereum’...
Crypto is too big to exist outside of public policies, warns SEC chair
Crypto assets will not last long outside of a public policy framework because “finance is about trust,” warns Gary Gensler, the chair of the United States Securities and Exchange Commission. Speaking to The Financial Times, Gensler stressed the need for a regulatory framework for crypto platforms for their own survival. He explained that crypto assets should be under the same public policy imperatives to protect investors and fight illicit financial activities. He said that the global market capitalization for cryptocurrencies has already surpassed $2 trillion and, if crypto is “going to have any relevance five and 10 years from now, it’s going to be within a public policy framework,” adding: “History just tells you, it doesn’t last long outside. Finance is about trust, ultimately.” ...
Kusama price analysis: KSM could retest the $380 resistance level
Several altcoins have been rallying over the past few hours despite Bitcoin still struggling to break past the $48k level. The past few hours have been dominated by altcoins, with some of them performing excellently. Ether is up by over 6% to finally break past the $3,500 level and could be set for higher gains in the coming hours and days. XRP, Polkadot, Uniswap and Chainlink are some of the other leading altcoins that have recorded impressive wins in the past 24 hours. Bitcoin, on the other hand, has stagnated above the $47,000 mark. The leading cryptocurrency has found it hard to break past and stay above the $48,000 level in recent days. Kusama is also one of the coins amongst the top 50 in the market to record impressive gains in the past 24 hours. KSM could be set for further gains i...
Bitcoin could still reach $100k this year, says Anthony Scaramucci
Bitcoin has been trading below the $50k mark for the past few days, but some analysts are optimistic that the price could double before the end of the year. The CEO and founder of SkyBridge Capital, Anthony Scaramucci, is confident that Bitcoin will still hit the $100,000 mark before the end of the year, thanks to the increasing demand for the cryptocurrency every year. Scaramucci said this during a recent YouTube interview. During the interview, Scaramucci said Bitcoin’s limited and fixed supply and the increase in demand every month play to the cryptocurrency’s advantage. He added that “As long as I see that, I see those prices rising. So, we’re going to stick with the $100,000 price target.” The cryptocurrency market entered a bearish cycle during the summer, with the prices of Bitcoin ...
Data suggests Uniswap is 36% overvalued and SushiSwap trades at a discount
Just looking at Binance Coin’s (BNB) reported market capitalization, one might conclude that the token is the dominant asset when compared to other exchange tokens. Although there is no direct relationship between Binance’s exchange volume (or revenue) and token economics, traders seem to use it as a proxy. The controversial burn mechanism has been losing impact since April 2019, when the exchange changed the BNB whitepaper. Initially, the whitepaper proposed a plan where BNB tokens equivalent to 20% of the exchange’s profit would be bought under a “repurchasing plan”, but the new version scrapped that plan. Exchange tokens market cap and volume. Source: Messari Screener and CoinGecko However, excluding the 60 million BNB that have never been in circulat...
CryptoPunks creators sign with top Hollywood agents, as sales top $305M in a week
Larva Labs, the team behind the outrageously popular NFT project CryptoPunks, has penned a deal with Hollywood agents United Talent Agency (UTA). According to an Aug. 31 article from the Hollywood Reporter, UTA will represent Larva Labs for intellectual property (IP) deals in TV, film, video games, licensing and publishing. Two other NFT projects from Larva Labs, Meebits and Autoglyphs, will also be represented by UTA. CryptoPunks was launched back in 2017 and is one of the first NFT projects created on Ethereum. The IP-related deal with UTA marks a significant milestone for Larva Labs, as it is one of the first examples of content created in the blockchain sector that has entered the mainstream entertainment industry. Lesley Silverman, head of UTA Digital Assets told the Hollywood Reporte...
Offchain Labs launches Arbitrum One mainnet, secures $120M in funding
Offchain Labs, the team behind the highly anticipated Ethereum layer two platform, Arbitrum One, has completed the public mainnet launch of its optimistic rollups solution. Announced on Aug. 31, Offchain Labs also revealed that it has secured $120 million in a Series B fundraising round. The round was led by Lightspeed Venture Partners and also saw participation from heavyweight crypto investors Polychain Capital, Pantera Capital, Alameda Research and Mark Cuban. Lightspeed partner Ravi Mhatre also joined Offchain Labs’ board as part of the round. Amy Wu, also a partner at Lightspeed, stated: “[Offchain Labs’] dedication to the Ethereum developer community is second to none and they have the best, easiest-to-use scalability product. That’s why over 400 projects have chosen to launch with A...
Original $4M Doge NFT meme auctioned off in 17 billion pieces
The $4 million NFT depicting the original Doge meme is set to be fractionalized into ERC-20 Tokens, and auctioned off in pieces. The owner of the Shibu Inu depicted in the beloved meme, Atsuko Sato sold the Doge NFT for 1696.9 Ether, or $4 million on June 12 to art-focused decentralized autonomous organisation, PleasrDAO. Starting from Sept.1 at 5pm UTC PleasrDAO will offer exposure to the Doge NFT via a fractionalization that will see the nonfungible token broken down into 16,969,696,969 ERC-20 tokens named “$DOG”. According to a blog post from PleasrDAO, 20% of the total $DOG supply will be available for purchase initially, with the sale being hosted on open-source smart contract platform, Miso. https://t.co/9c9899X73Hhttps://t.co/osEMZpxkg3 blog: https://t.co/wE7yDLC3xu pic.twitter.com/...
3 reasons why a Bitcoin ETF approval will be a game changer for BTC price
Some financial experts believe that the price of cryptocurrencies is solely driven by investors’ speculation, and in the past few years detractors have suggested that fixed income instruments like treasury bills have no relation to do with digital assets. This point of view is fairly accurate because, at this time, most investors from the asset class are not allowed to invest in Bitcoin (BTC) and altcoins. Public pension funds, retirement plans, fixed income and most non-leverage equity and multimarket mutual funds can only invest in certain asset classes. These limits arise from the fund class regulation, the fund’s own bylaws, and the administrator’s risk assessment. Not every fund can invest in Grayscale’s GBTC Trust Unbeknownst to most, the mutual fund manager d...
Major job postings from the crypto space in 2021
As crypto and blockchain firms grow and need to navigate regulatory and economic challenges for the industry, many have to hire outside to find the best workers. This year, major companies, financial institutions, and even government agencies announced they were searching for fresh blood to help them adapt to the ever-changing crypto space. In February, major online retailer Amazon posted it was seeking a software development manager in Mexico to help launch “a new payment product.” The Digital and Emerging Payments project was aimed at allowing residents of Mexico to buy cryptocurrencies with cash so they could spend digital currency while shopping on Amazon. Though there are reports the online retailer intends to accept Bitcoin (BTC) payments by 2022, the company has not officially...
Bitcoin price turns to test lower support levels as $50K stays out of reach
Bitcoin (BTC) continued to range below $50,000 on the last day of August as analysts demanded higher levels in order to continue the bull run. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $51,000 remains the deal-breaker for BTC Data from Cointelegraph Markets Pro and TradingView painted a dull picture for investors Tuesday as BTC/USD continued to trade in a four-day-old descending channel. Despite highly encouraging on-chain metrics and fundamentals, BTC price action disappointed the market throughout the weekend and beyond as a lack of momentum kept $50,000 at bay. Major resistance, now solidified on exchanges at $51,000 and above, remains firmly in place and analysts say the outlook remains muted until this level is turned to support. According to Cointelegraph contr...
